Seriously questioning my 401k with all this inflation talk

Joyce Cooper

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Seriously questioning my 401k with all this inflation talk

joyce_cooper📊Growing (50-100k)

less than a minute ago

Key Takeaways

•Okay, so I've been watching the news, reading articles, and honestly, the constant chatter about inflation is really starting to get under my skin.
•Being a principal here in Little Rock, I see firsthand how rising costs affect families, and it makes me think about my own retirement.
•I’ve always been a pretty conservative investor, you know, steady and reliable.

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Okay, so I've been watching the news, reading articles, and honestly, the constant chatter about inflation is really starting to get under my skin. Being a principal here in Little Rock, I see firsthand how rising costs affect families, and it makes me think about my own retirement. I’ve always been a pretty conservative investor, you know, steady and reliable. My school district 401k has been my bread and butter for years, but lately, I’m just not feeling as secure as I once did.

I’ve got about $75k in my Gold IRA right now, mostly in American Gold Eagles and some Canadian Gold Maples. I started it a few years back when I had a lump sum from an old pension payout, and a buddy of mine mentioned precious metals. At the time, it felt like a good diversification move, a hedge against the unexpected. Now, it feels less like a hedge and more like a necessity. I'm actually considering moving more of my 401k over, or at least a significant portion of it. I'm talking another $20k-$30k. Am I overreacting, or is this inflation threat as serious as it feels?

The thing is, I teach financial literacy to our high schoolers, and I preach responsible investing, diversification, and planning for the future. It feels a bit hypocritical to be so worried myself! But when you see gas prices fluctuating like crazy and grocery bills just creeping up week after week, it's hard not to feel that pinch. My main concern is protecting that long-term buying power. Gold has always been seen as that inflation-proof asset, right? What are others doing in this climate? Are you guys sitting tight or actively rebalancing your portfolios towards more gold?

Also, if I do decide to roll over more funds, I need to figure out the tax implications. I've been meaning to use that Tax Calculator – has anyone here had good experiences with it for figuring out the tax hit on rollovers? Because that's a big piece of the puzzle I need to sort out before making any big moves. Any advice or shared experiences would be greatly appreciated. Just looking for some perspective here.

3 comments

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Best Answer▲ 7 upvotes

steven_mitchell🏆Advanced (250-500k)

I totally get the inflation anxiety, it's rough out there. But sometimes I wonder if the "inflation talk" itself can be a bit of a self-fulfilling prophecy or at least gets overblown in the media. It's smart to review retirement plans, for sure, but don't let the headlines entirely dictate your strategy. Diversification is key regardless of what the news is saying, right?

Comments (3)

david_brown💎Premium (500k-1m)Real Investor•less than a minute ago

Totally get where you're coming from. I was in a similar boat a few years ago, not with a 401k exactly, but my personal savings felt like they were just sitting there getting eaten away by inflation. It's a really unsettling feeling to watch your hard-earned money lose purchasing power. Started looking into alternatives myself, and it's definitely a rabbit hole!

thomas_walker🏆Advanced (250-500k)Real Investor✓ Verified•less than a minute ago

Hey, totally get where you're coming from. Inflation is no joke, especially when you're seeing it hit people directly. Just wondering, what kind of investments are currently in your 401k that are making you specifically rethink things? Is it mostly bonds, or a mix?