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Annuity or Cash??

Topic closed. 19 replies. Last post 7 years ago by KY Floyd.

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United States
Member #90729
May 3, 2010
8 Posts
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Posted: May 20, 2010, 1:32 pm - IP Logged

Cash!!!! Dance

    victorl3ichiban's avatar - georgemichael
    san jose
    United States
    Member #53761
    July 20, 2007
    277 Posts
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    Posted: May 23, 2010, 1:44 am - IP Logged

    With the situation I am in I have to say cash.

      Avatar
      Milwaukee, WI
      United States
      Member #3131
      December 27, 2003
      665 Posts
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      Posted: May 23, 2010, 6:42 am - IP Logged

      Cash, for sure.

      But from there, where do you put it?

      Some say gold, because they say that money will become worthless.

      Treasuries? Will the government go bankrupt?

      Some fund? How about the Madoff fund? Steady 12% gain.  OOPS!

      The market? Will the broker go bankrupt and lose all your money?

      There is no place too big to be closed in days.

      Bear Stearns, Lehman, Worldcomm. Enron, Madoff, Stanford? Bam! They're gone!

      I was wondering, if I invest my money with a broker, then put private insurance on the broker to protect me not from the market, but from just closing on fraud, etc. That way if the insurer goes bankrupt I have the broker, if the broker goes bankrupt, I have the insurance. Unless they both go bankrupt on the same say.

      But yes! Cash for sure!

      MarkP

        time*treat's avatar - radar

        United States
        Member #13130
        March 30, 2005
        2171 Posts
        Offline
        Posted: May 26, 2010, 4:41 am - IP Logged

        Cash, for sure.

        But from there, where do you put it?

        Some say gold, because they say that money will become worthless.

        Treasuries? Will the government go bankrupt?

        Some fund? How about the Madoff fund? Steady 12% gain.  OOPS!

        The market? Will the broker go bankrupt and lose all your money?

        There is no place too big to be closed in days.

        Bear Stearns, Lehman, Worldcomm. Enron, Madoff, Stanford? Bam! They're gone!

        I was wondering, if I invest my money with a broker, then put private insurance on the broker to protect me not from the market, but from just closing on fraud, etc. That way if the insurer goes bankrupt I have the broker, if the broker goes bankrupt, I have the insurance. Unless they both go bankrupt on the same say.

        But yes! Cash for sure!

        MarkP

        RE: brokerage accounts

        A: SIPC Cool

        In neo-conned Amerika, bank robs you.
        Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

          Avatar
          NY
          United States
          Member #23835
          October 16, 2005
          3502 Posts
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          Posted: May 27, 2010, 3:17 pm - IP Logged

          That only matters in the very unlikely event that a broker has your money and doesn't pay you because the money goes to their other debts first, and there's none left for you. It's not clear what the original poster meant, but I hope they don't think that some insurance fund is going to pay them back  if they invest in Fly By Night Widgets, Inc and the stock becomes worthless.