Who controls your 401k? For someone who is doubting of the markets why even have money there? If you take control of your 401k you can be invested in what you want and be in cash if you see a dip coming. US has far better commission free brokers then us up north. Also if you don't want your 401k in the market... there are ways to buy real-estate inside your 401k in reits and your own small buisness.
My investments are in real-estate my small buisness and I trade my rrsp tfsa and a cash account for me and my small buisness. There is also coins and silver in the safe.
I only have money in there because of the company match. I forgot about self directed 401k. I should look into that.
I’ll have to look at REITs with my 401k. What types would you look at? Are commercial REITs surviving right now? How about healthcare reits the way they are robbing us right now?
There yah go!!! I can feel the gears turning!!!
So first do an assessment of your 401k is it performing nicely? If so... why stop a good thing? The swamp people still need their markets if Biden does actually get in.
Then You need to know how to pull the brakes. Figure out what you need to do paper work wise and have set up inorder to take control of that 401k. So if you see the crash before other people you can take control and sell what you own inside of it and sit on cash while markets crash. I had the foresight to do so with my rrsp and tfsa before the covid crash. Then you can rebuy shares you previously owned.
Second. If you have not been maxing out 401k then start another one that is self directed. Up here in Canada there is no limit to the amount of rrsp accounts I can have open. Its just up to me to report them all for taxes. Or start a Roth ira. I think that's your version of tfsa. Learn how to trade with in that.
Make an account on stocktwits and follow companies you like. Learn some easy trading patterns like oversold charts. The opportunities are endless. You just have to pull the trigger and start.
Also I am not the right person to ask about which reits are right for you. But you get to go on a quest now!
If in the next few days you don't act towards any of your goals or interests. Read 7 habits of highly effective people and quit being a bitch. Sharpen your saw.
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