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Growing wealth inequality means that the wealthy have nowhere to hide and that events like those in Cyprus will happen in more countries around the world, including developed nations, said Marc Faber, the contrarian investor and publisher of the Gloom, Boom & Doom Report.
"The problem is that 92 percent of financial wealth is owned by 5 percent of the population. The majority of people don't own meaningful stock positions and they don't benefit from a rise in the stock market. They are being hurt by a rising cost of living and we all know that the real incomes of median households has been going down for the last few years," he said.
Originally posted by sheepslayer247
20% is generous to say the least. The market is hyper-inflated as it is and as we have seen twice in less than 10 years, when the market jumps to new highs.....a crash and correction is soon to follow.
Honestly, I don't know why anyone would have retirement investments in the stock market or even gold and silver. The prices are completely artificial and is being propped-up by automated computer systems that buy and sell massive amounts of volume each and every day.
It's only a way to leach money away from hard-working Americans that try to invest for their future.
back not to long ago when companies had real retirement plans not just 401ks you could take your retirement as a lump sum and roll it over into a investment retirement account avoiding the tax penalty; the intent was to grow your little nest egg. 15 or 20 years ago the concerns of today were almost non-existent with regards to the banking industry, astronomical debt, and fiat currency. Tax penalties drove the move of money, and concerns of running out of money when one retires drove the search for return on investment...but I imagine/assume you know that already.
I don't know why anyone would have retirement investments in the stock market
It sucks that you have your money locked up in such a way, OP, but you may want to consider which would be worse: Pulling your money out and taking the penalty hit (never a pleasant thought), or letting it sit where it is and praying that whatever haircut you get is just a little off the top.