silver

[dreamboxvip]

Silver going backwards once again. Will it ever recover?

 

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[fistfulladirt]

Don't risk your future - diversify your $ in something with a proven track record!

Silver and gold! Proven track record -

 

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[Avago]

You conspiracy theorists who think the world is going to end and that silver and gold will be the only remaining currency are not going to be able to retire unless you can make at least 8-10% in a retirement savings vehicle (ie mutual funds) .... Don't risk your future - diversify your $ in something with a proven track record!

I hope you're not directing the conspiracy theorist accusation at me. I also advised diversification. If you invest 100% of your capital in one asset class whether it's stocks, bonds, real estate, PMs, etc., eventually you're going to take a bath when it goes ass-up. The point is to maximize growth while minimizing risk.

Btw, fiat currency isn't a conspiracy theory. The internet is a wonderful resource, use it and learn.

 

[johnomerta]

I hope it does drop to $5 an oz. Im still going to buy weekly. Then I'm going to CRH hard as ever because people won't give a damn and dump the hell out of the grandfolks stashes without a second thought about silver. Then when my floor is caving in from the wieght of my stack and I'm a crazy old man I'll WIN because he who dies with the most silver wins.

 

[Beachkid23]

Lol. Thats what people will be saying about the USD in the near future. Silver prices are going to do much more than recover. Silver prices are insanely low now because the US economy is in a complete state of insanity. Eventually more and more people will recognize the importance and true value of sound money and silver prices will go to the moon. The longer it takes for prices to reveal silver's true value, the higher prices are going to go.

No, they won't. You would think they would but when I go to yard sales and ask if they have any old coins or old iPhones you should see how much people value their iPhones more then coins. It's easy to buy coins under spot. But to buy a broken iPhone that they don't use anymore ha ha you think you're trying to rob them! Some of the smarter people might but it's going to have to take a recession bigger than the last one for a lot of people to buy silver instead of hold cash.

My brother-in-law's highly educated. He makes a ton of money. For two years I've been trying to tell them to put some of his money toward silver. So he did he went out and bought a new silver Porsche Carrera brand-new paid cash.

I think the younger generation is more likely to put money towards fancy things and technology before any of them would buy a silver coin and put it in a safe.

 

[fistfulladirt]

The younger generation doesn't use coin or currency. They use e-money.

 

[mlayers]

well no matter what happens with silver. I sold some of mine at $45 a oz. Now I am buying again. I am 59 and if I don't see $45 again at least my kids should be able to see it. I am not a rich guy I am lucky to make $30 thou a yr. but my bills are paid and I am able to buy silver or collectable coins every month. So I may just leave my kids a ne collection some day. Or I may just take a nice trip by selling the coins. Never know what will happen from day to day.

 

[Beachkid23]

well no matter what happens with silver. I sold some of mine at $45 a oz. Now I am buying again. I am 59 and if I don't see $45 again at least my kids should be able to see it. I am not a rich guy I am lucky to make $30 thou a yr. but my bills are paid and I am able to buy silver or collectable coins every month. So I may just leave my kids a ne collection some day. Or I may just take a nice trip by selling the coins. Never know what will happen from day to day.

This is kind of where I'm at. Unless I find something worth a ton of money I don't think I'll ever have enough money in my retirement to retire. So I pretty much just save some coins here in there and silver bars. If I find all the yard sales I'll sell some of it and keep some of the better stuff. And sell all the other junk. But I don't know I'm 35 years old as of right now I don't see how I'll ever have a retirement account worthwhile. So I'll just throw some money into this especially ones at yard sales they are a lot cheaper.



And next weekend I'll go out and try to buy more but there's no shortage of it out there that's for sure. This year starting in January I have gone to yard sales at least once a week being either Friday Saturday or Sunday. There has never been a weekend I have not found silver or gold. And a lot of times it's both. And a lot of times it's cheap!

 

[ArkieBassMan]

This is kind of where I'm at. Unless I find something worth a ton of money I don't think I'll ever have enough money in my retirement to retire. So I pretty much just save some coins here in there and silver bars. If I find all the yard sales I'll sell some of it and keep some of the better stuff. And sell all the other junk. But I don't know I'm 35 years old as of right now I don't see how I'll ever have a retirement account worthwhile. So I'll just throw some money into this especially ones at yard sales they are a lot cheaper.

Back when I was a kid (and apparently deaf), the saying was that if at age 18 you'd start "putting back" $20 per week, every week into some sort of account that averaged a 10% return (many options to easily get 10%+ in those days), at age 65 you'd have over $1 million. I think the actual math may or may not come up a little short depending on how/when you contribute and how the interest is compounded, but the principle is very sound. When I was in high school my grandfather told me the time to start thinking about retirement is NOW and the key is to invest regularly and without fail. He was 100% correct.

 

[Avago]

Arkie, a $20 weekly contribution to an account earning 10% compounded annually over 45 years will grow to $690,221.

Compare this to the same weekly $20 contribution to a savings account currently earning a generous 1% compounded monthly for the same amount of time will grow to $54,531.

It's clear how great the effect of compound interest and rate of return is over time, your grandfather was certainly right. If you're young, the greatest asset you have is time. If you don't save at all, you can count on a big fat zero when the time comes for retirement. Of course if SHTF all of that kind of goes out the window. I personally have a 401k from work, a ROTH IRA and am now obviously diversifying further into physical PMs for that possible SHTF scenario.

 

[fistfulladirt]

Arkie, a $20 weekly contribution to an account earning 10% compounded annually over 45 years will grow to $690,221.

Compare this to the same weekly $20 contribution to a savings account currently earning a generous 1% compounded monthly for the same amount of time will grow to $54,531.

It's clear how great the effect of compound interest and rate of return is over time, your grandfather was certainly right. If you're young, the greatest asset you have is time. If you don't save at all, you can count on a big fat zero when the time comes for retirement. Of course if SHTF all of that kind of goes out the window. I personally have a 401k from work, a ROTH IRA and am now obviously diversifying further into physical PMs for that possible SHTF scenario.

I don't think PM's will be of much use (SHTF)...my neighbor has no use for my PM's, nor does his neighbor. I would think investing in non-perishable items such as alcohol, toilet paper, tobacco, canned goods, and even ammo, for example, would be much more valuable. Stocking up on some of these items now, items you will always use, could easily gain a 10% return on your money either way, in the short term, due to inflation.

 

[Beachkid23]

Back when I was a kid (and apparently deaf), the saying was that if at age 18 you'd start "putting back" $20 per week, every week into some sort of account that averaged a 10% return (many options to easily get 10%+ in those days), at age 65 you'd have over $1 million. I think the actual math may or may not come up a little short depending on how/when you contribute and how the interest is compounded, but the principle is very sound. When I was in high school my grandfather told me the time to start thinking about retirement is NOW and the key is to invest regularly and without fail. He was 100% correct.

I keep Telling myself this. I'm not sure how common 10% is anymore. But as far as putting stuff away it sounds like a good idea. I would like to put more away but at the moment feeding my kids and paying my bills kind of prevents any extra income. I keep getting my neighbor asking me to work for his company because I have an electrical background. But even though I like doing it, I don't want to travel all over the state of Florida again. I want to see my kids grow up and I also want to have a better life for them. So maybe going back to being electrician is not such a bad idea. I don't think working for his company though is the right one. He's telling me their guys spend at least a week out of town at a time. I have three kids under the age of 10 I like being around them.

We are staying afloat. Cutting out the stuff we don't need. I'm not sure if silver bars fall into the category of need or want. Probably both. More likely neither. But I just checked craigslist for the first time today for jobs and the first 300 were posted today. A lot of them you need your own truck or five years experience of something. Your own tools or able to work 80 hours a week. There was a couple interesting ones I might actually apply for one was refuling private jets. That sounded pretty cool! Although I have been selling on eBay for people for the last year so I just put out another advertisement on craigslist, Facebook, and a local newspaper here in town. The last lady I sold two things for her and made $450 in one night. So I think I know what I want to do but needs more customers looking to sell stuff worth more than $10!! How about that Rant huh? Lol. Sorry

 

[bertmaster2000]

I keep Telling myself this. I'm not sure how common 10% is anymore. But as far as putting stuff away it sounds like a good idea. I would like to put more away but at the moment feeding my kids and paying my bills kind of prevents any extra income. I keep getting my neighbor asking me to work for his company because I have an electrical background. But even though I like doing it, I don't want to travel all over the state of Florida again. I want to see my kids grow up and I also want to have a better life for them. So maybe going back to being electrician is not such a bad idea. I don't think working for his company though is the right one. He's telling me their guys spend at least a week out of town at a time. I have three kids under the age of 10 I like being around them.

We are staying afloat. Cutting out the stuff we don't need. I'm not sure if silver bars fall into the category of need or want. Probably both. More likely neither. But I just checked craigslist for the first time today for jobs and the first 300 were posted today. A lot of them you need your own truck or five years experience of something. Your own tools or able to work 80 hours a week. There was a couple interesting ones I might actually apply for one was refuling private jets. That sounded pretty cool! Although I have been selling on eBay for people for the last year so I just put out another advertisement on craigslist, Facebook, and a local newspaper here in town. The last lady I sold two things for her and made $450 in one night. So I think I know what I want to do but needs more customers looking to sell stuff worth more than $10!! How about that Rant huh? Lol. Sorry

Beachkid23 I also have 3 kids, though all of mine are now teens. I know kids demand an incredible amount of resources (and are well worth it!). I and my wife are financially conservative. We've built our lives around zero debt, so we do not extravagantly live, but we live comfortably enough. I've been investing ~10% of my take-home income in mutual funds for 20 years and despite doing so I doubt I will have enough saved to retire before I am eligible for social security. Yes, foolish as it sounds, I am assuming social security will exist in 20 years when I could possibly, perhaps, maybe dare to think about retiring. In the meantime, I am diversifying my investments and buying PMs. Best of luck to you, Beachkid23, do not lose hope!