How To Save Your 401-K
How To Save Your 401-K
More fallout from the mortgage crisis doesn't mean completely turn to precious metals like gold.
Thomasville, NC -- Financial managers say we're still seeing the fall out of the mortgage crisis. But with a Fortune 500 company like Bear Stearns getting swallowed up in the aftermath.
The concern keeps people watching and wondering what to do with their 401K's.
People's retirement plans may include golf or some other leisure. How much they get to do any of those activities is wrapped up in how well their retirement account will perform for them. Some of them are watching the rising price of gold. Avis Brewer sees two to three customers a day in her jewelry store just checking to see if 14K can help their 401K and more.
"They hear gold is this high and they sell it to even pay their bills with."
Money managers we talked to say there are more ways to survive than just digging for gold when it comes to your retirement account. They say a well diversified portfolio should be broken down into years to when you need that money. And only five percent or less should be invested in precious metals like gold.
Source: WFMY News 2
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