I asked for a poll a few weeks ago on bugging out, and I got some good responses. Now we're trying to make an even riskier decision about leaving our jobs to collect our retirement money (this is the only way we can get it). I worry that we're being too radical - anyone else in this situation?

-- Scarlett (creolady@aol.com), April 29, 1999

Answers

We're not gonna bug out until we absolutly have to but we did decide in 12/98 to cash in our 401k's. Still don't have them! Always have some problem w/company either not having what they needed or computer problem losing everything or something. been through two disbursement dates already and on phone almost daily with person in charge and the just can't tell me when we'll get. The good news is it keeps going up! But I'm too scared to leave it there. We'll take our tax bite and hide. Hope you have better luck!

-- Johnny (jljtm@bellsouth.net), April 29, 1999.

Scarlett,

Yes I am facing the same problem with retirement money and investments in general. I have decided to really spread things out to minimize my risks and also keep from overreacting too much. The first thing I have done is completely get out of all international investments.. The second was to take out around $5,000 in cash. Am leaving some of my domestic investments in the market and will just take that risk.. Have bought a small chunk of land and $2,000 in gold. hope this helps.. I definitely feel your pain with these very tough decisions.

-- michael (michael813@yahoo.com), April 29, 1999.

Scarlett - please do yourself a favor and read a few of the links on this page before you decide what you are going to do.

http://www.gospelcom.net/ccmag/y2k/

I deal with technology, but Steve deals with people.

-- Paul Davis (davisp1953@yahoo.com), April 29, 1999.

Scarlett: I think you should base your answer on whether or not you believe you will need the money for your "Y2K survival." If you believe you need to be prepared in such a way that the only way you have of doing so is to "cash it in" and use the assets to ensure the adequacy of your preparations, then of course you should do so.

In my judgment, given the uncertainties that surround ANY OPINION on the severity of potential Y2K problems, I would not even consider "cashing in" as it were. I have typical 401K and real estate investments and would never liquidate them on the basis of what we "know" about Y2K. But again, that is my decision based - in no small measure, on other personal factors. I have the luxury of having prepared without having to resort to the liquidation of a significant number of assets. I also have made the decision that the probability of TEOTWAWKI is so small that I have taken some measures that take that into account, my focus has been on the ~30 day "what ifs."

Frankly, I am more concerned with the respondent to your post that has been having difficulty getting their 401K money. With current technology, most of our personally claimed but collectively "stored" money, lies in the intergallactic vortex that is the modern financial system. If there are more people out there that upon trying to "re- patriate" their portion from that "vortx" are finding difficulty in doing so, then that needs to be "shouted loudly from every forum."

-- Dave Walden (wprop@concentric.net), April 29, 1999.

1) I am not leaving my job.

2) I am speculating with my IRA money. Most of my IRA money is in a large mutual fund complex that lets you shift from fund to fund. In 1998, I shifted from stocks to 50% goverment bond fund, 50% gold fund. I figure that late in 1999, the prices of precious metals will go up substantially. It will be too late for most people to get physical possession. As a substitute, they may invest in gold stocks. Even though the prospects for gold mining in the 2000-2001 time frame are poor, I do expect a spike in the gold stock prices in very late 1999. I plan to wait until the last minute of 1999 (as late as I dare), and punch in the telephone codes to transfer the balance of the gold fund to government bonds.

I am lucky. I have substantial savings outside of retirement money for my preperations. I am not faced with the decision that is the basis of this questionaire. I mention this in case someone else thinks it has merit. Or if someone will explain what a total fool I am. I love the not-so-gentle give and take on this forum.

-- No Name (noname@here.com), April 29, 1999.

No Name ... What if a run on treasuries starts in Japan after you convert to same, WHILE YOUR SLEEPING !! This could spread around the world, so that when you wake you in the morning, the largest debtor nation in the world (US)is busted, with no one left to take our debt and NO MONEY TO PAY YOU !!! Do you have it in writing as to HOW SOON Uncle Sam has to pay you ? And, don't you think that what ever he pays you with will be WORTHLESS ,( if and when you get it ) ??? Eagle

-- Hal (your pal) (e999eagle@freewwweb.com), April 29, 1999.

I agree. Japanese are savers. If they pull out of our stock market and then into our government bond market and then want their money in dollars, where is the government going to get the money??? From the paultry "increase in liquidity" printing planned prior to Y2K??? From a non-compliant treasury post-Y2k printing??

Government bonds won't be safe. Banks (internationally connected) won't be safe either, and will run out of cash. Buy alpha strategy items that will use. Some hard assets. Land. Diversify. Don't wait til July when things may begin happening more publicly. Blessings to your decisions. Tough stuff. Whatever you do, be centered and calm before you decide.

-- Leslie (***@***.net), April 29, 1999.