All of our savings are intended to ensure The Princess will not have to get a paying job after she retires AND our heirs are provided for after our passing.
Debt is bad mojo in my book. Once I was debt free I never wanted to go there again. There was one exemption when our financial advisor advised we get a mortgage for one our LLCs because the interest rates were so low. We could live with that and paid off the mortgage even though we could have made more investing in stocks.
And I wouldn't recommend it to anyone else to do what I did. At that time I was concerned that we weren't going to meet our retirement goals. So, I bought three houses a farm and 2 custom view lots. That by itself put me over a million in debt, then I creatively financed some stocks and PM's. Fortunately my wife had no idea what I was doing. She wouldn't have understood. It was a huge gamble but it paid off nicely, and I was able to pay everything off within a couple of years. Would I do it again? Maybe, if all the conditions were like they were back then. The wife and I both retired at 57, everything we own is paid for and we can do whatever we want to do.
Back in 2013 I had other financial obligations and didn't have the disposable income to throw a lot of cash into PM's. I've basically dollar cost averaged into PM's attempting to buy at the dips. At that time, I was still working full time and putting the max into my IRA as well. I had other baskets of where I wanted to diversify my savings. It was in 2012 when I really woke up and started to think about preparing for a major event with Obummer at the helm.
Today, I'm only putting the minimum into my IRA. It's grown enough that I'm comfortable with it where it's at and called my advisor a few months ago and put it into a more conservative stance until all the craziness of the next year is over. I think the markets are gonna shake until there is some clarity at this time next year. By then, the markets will know if we are headed for communism or not.
During the crash of 2008 we continued to stuff money into the market. We had the advantage of time on our side. I feel sorry for the folks who were getting ready to retire and their nest egg shrank in half or more. Many of them had to keep working b/c of it. I don't want that to happen to me, so I diversify and PM's are only one of my security baskets that I'm sure glad I have, even though I doubt I will ever cash it in. On the flip side, my kids are gonna love me.
Post election my advisor moved most of his clients (including us) into one particular ticker. Schwab contacted him and told him he couldn't invest anymore because he already owns 5% of it total.
In more than 30 years he has never seen that problem previously.
I think platinum is worth considering too, and so is palladium. Platinum is down to $971 this morning, historically platinum is usually higher than gold.
I have a pool account where I can easily trade back and forth between gold, silver, platinum and palladium. Then when I want I can take physical delivery of the metals.
Gold dropped another $60 today. I still think it's too high for me to buy any. Silver dropped to just over $30. If it drops down to around $25 I'll start buying more silver. If I was smart, I'd sell my gold now while the price is still high and buy some land over towards the coast.
Gold is down $25 today. Thats a drop of over $75 in the last 30 days. I think silver is getting down low enough that I may buy some soon. Can't have too much silver laying around. I heard a prediction today that copper could hit $10 a pound. Right now copper is just over $4 a pound, or $9100 a ton. Might be worth considering.
Gold is down $25 today. Thats a drop of over $75 in the last 30 days. I think silver is getting down low enough that I may buy some soon. Can't have too much silver laying around. I heard a prediction today that copper could hit $10 a pound. Right now copper is just over $4 a pound, or $9100 a ton. Might be worth considering.
Both gold and silver are still dropping today.
I was sure when gold hit $2,800 it would get comfortable at that level...
Now $2,572 is the 'new normal'.
It's all Trump's fault!!!
Trump becoming president won't fix the problems with our currency. At least, not right away. I love the idea of precious metals dropping in price - that makes it easier to buy more.
Trump becoming president won't fix the problems with our currency. At least, not right away. I love the idea of precious metals dropping in price - that makes it easier to buy more.
I haven't looked in on other currencies, but usually when the price of pm's in American dollar$ drops, it means the value of our currency has increased.
And that isn't a bad thing.
Edit: The value of the Euro in American dollars. Can you guess when an 'election' may have happened?
(Note that the low for the day, is the lowest for the past year! ).
Trump becoming president won't fix the problems with our currency. At least, not right away. I love the idea of precious metals dropping in price - that makes it easier to buy more.
I have mixed feelings about the price of PM's dropping. On the one hand I'd like to see some major price drops so I can buy more. But then I've been thinking about selling while the price is high and buying some land over near the coast. I always say to take advantage of whatever opportunity comes along.
I'm going to buy the grandkids a few 10 oz bars of copper, and some 1 oz silver bars to get then started in precious metals investing. Last year we opened bank accounts for them. Next year we'll open a stock investment account (eTrade) so they can get an early start on their retirement. We deposit money in to their bank accounts on a regular basis.
