Assuming the fit hits the shan and things get real ugly in the US, what happens with all the electronically managed money. Like say I make a break for Canada and get there. Can I still access my funds? Can the government freeze everyone’s assets to prevent those who make it out from getting at their money?
I have retirement stuff in vanguard and fidelity mostly. I would assume they are international companies, and thus might not have to abide by a US freeze order. But then again, it might be in their interest to keep the money frozen so they technically still have it.
And what are other people doing to be prepared for the possibility that things get civil war like in the US. Are their places you can put your money that are safe from US hands? And what are the tax implementations of moving money to them?
Edit: I realize from the comments that it might look like this is my reaction to the falling market. It isn’t about that. I don’t react to market conditions in general… This is more about my family being in the administrations top 5 groups they hate. And if we feel the need to flee, is there anything I can do to ensure access to some money while having a minimal impact on my financials if it never comes to that.
My concerns are more with the defaulting of the national debt, and the dollar crashing in value in general. But I agree with the other post might as well hold and hope sanity prevails. Tough times ahead for sure. I’ve thought of bailing too (not too sure we would be appreciated abroad anyways), but we need to right the ship here. And you seem a decent fellow hate to see you leave but I wouldn’t blame you if you do.
Yeah, I don’t intend to flee easily. But my family is special… if they start targeting people like us, I may feel I have to flee to keep my kids safe. I wouldn’t want to cash out of the market, just maybe change who is managing it to protect it from the US gov if they come after us.