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Technology Stocks : Y2K (Year 2000) Personal Contingency Planning
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To: Dan Hamilton who wrote (5)4/13/1998 5:19:00 PM
From: Superhawk   of 888
 
Dan:

You commented on gold in an IRA:

" 98% of my investment (besides real estate) is in a self directed retirement
account. So owning actual coins or bullion is not possible. Does anyone have any
suggestions for this scenario? "

I have an IRA at Dean Witter and inquired about the possibility of
converting the account physically to gold or silver. I'd rather take
delivery of the assets and put the gold into a local trust myself, but
that's not possible without incurring a substantial withholding
penalty. I was told my metals would be held in a Dean Witter vault
in Tampa, FL.

Tony Keyes, writing in a column at the Westergaard Y2K site, claims he will cash out his IRAs, take the penalty, and reinvest the proceeds himself in precious metals! He apparently doesn't trust computerized record-keeping at the brokerage houses.

For my regular stock accounts, I plan to take cash out of stocks, take physical delivery of coins (gold, silver, and platinum), and hold most in a safety deposit box in the local bank branch.
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