Q&A: Retirement Assets

Russell from Louisville, KY: I fear my father's retirement will come during the next severe downturn, rendering his life's work into his retirement fund worthless. Same with my mom who has more to lose. Should they cash out of their 401(k), take the hit, and pay off their mortgage? Should they cash out individually and invest in a diversification of precious metals, currencies and foreign stocks?

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.