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  1. #31

    May 2006
    CO, AZ
    dfx, Ryedale!
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    214 times
    "Use a fee only financial adviser. "

    I won't get into it, but I say I disagree with this entirely. there is no such thing as an absolute answer. I also find those fee only guys to do so in order ot be the good guy when the investments don't perform. You can fire the manager they hired instead of firing them.

    Personal experience. Sometimes you find good ones out there that are not fee only.
    A2coins likes this.

  2. #32
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,785
    2022 times
    Prospecting
    Apmex and those big dealers are good to buy from and I've had great service.
    I love to collect old constitutional silver and it's probably half my stack. Some of that I will keep but the rest is bars and rounds I could easily part with.
    Avoid 40 percent kennedys and 35 percent war nickels cuz no one wants them and they dont pay much when they do. 90 percent is good stuff.
    Dont hesitate to sell some metals if you can take a good profit. It's easy to get attached and have favorites (and that's fine) but have some that you keep just for selling when the time is right. Gotta be willing to take profits.

    We tend to whittle away cash we have sitting around so I try to put anything extra away in my stack in metals. It can sit there for when I do need it. It's enough work to sell that I end up being more patient and by the time its payday I'm glad I saved it. Otherwise it gets spent.
    Never had buyers remorse when I bought metals.
    My plan is to convert silver to gold when the ratio closes.
    A2coins likes this.

  3. #33
    us
    May 2018
    Maryland
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    Quote Originally Posted by fistfulladirt View Post
    Silver coins although I’m a fan, are not good investments. Well, Im watching my 401K which is up sometimes several grand a week...anyways, I’ve been in the silver game for over 40 years. I’ve bought and sold at times, but don’t consider a stack a money maker, a couple bucks up and down aren’t a concern to me. My stuff will be passed on to family, my plan.

    Tommy nothing wrong with holding a little bit of everything.
    Best answer so far.

    Although I have some silver, I don't consider it to be an investment. It is speculation. Diversify. Buy stock mutual funds in and out of IRAS and 401K if your company has one. Your first priority should be to reach any company match. Open a low fee brokerage account and a money market with a sweep account and buy some quality dividend stocks on dips from that sweep account. Add some cds. My credit union has 1 year cds for 2.25%, federally insured and you can build a ladder of cds for cash investing.
    A2coins and SilverLunker like this.

  4. #34
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
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    Quote Originally Posted by jrf30 View Post
    "Use a fee only financial adviser. "

    I won't get into it, but I say I disagree with this entirely. there is no such thing as an absolute answer. I also find those fee only guys to do so in order ot be the good guy when the investments don't perform. You can fire the manager they hired instead of firing them.
    Personal experience. Sometimes you find good ones out there that are not fee only.
    IMO, it is up to each one of us to educate ourselves about investing. I started a coin wholesale business when I was 10 from CRH in the mid-1960's. At night, I would ride my bike miles through the city to deliver coins to coin dealers. Usually, I made only a few dollars a day, but I saved it up. Once I had enough for a minimum purchase, I opened my first stock mutual fund - a no-load blue chip growth fund - on my own with no need for any "financial advisor". My parents, who grew up in the Great Depression, were furious, but I was right and they were wrong. I took advantage of market corrections - mostly in late 1987. I diversified and compared my investment results to our state pension fund annual returns. From 1981 through 2018, the state outperformed me in only 3 years - 2000, 2001 and 2002 - the years of the tech crash when I took a huge hit, but harvested my losses and eventually got it back and more.

    I argued for years with folks who think only the wealthy can invest. The reverse is the truth. The wealthy can afford to be careless. Those of us making a pittance working are the ones who have to learn and have the discipline to really invest long term. For decades, I lived so far below my means and below what most people are willing to do (no vacations, no restaurants, etc). I invested my entire paycheck and we lived on my wife's pay which was not much. Retired now, my investments return far more every month than I ever earned working for others.

    There are no short-cuts or secrets. It is easier now to do the research than it ever was. Before the internet, it was hard to do the research that is easy today.
    Last edited by Megalodon; Sep 15, 2019 at 11:07 PM.
    fistfulladirt and A2coins like this.

  5. #35

    Aug 2019
    4
    3 times
    All Types Of Treasure Hunting
    Try running some ads on craigslist buying at or a tad below melt for these bars. You will eventually get a hit
    A2coins likes this.

  6. #36
    us
    Feb 2010
    Formerly NH now East Tennessee
    Garrett GtaX1250
    3,413
    3175 times
    I have bought from Provident Metals in the past and had good results. https://www.providentmetals.com/?gcl...SAAEgK5RPD_BwE
    A2coins likes this.
    Live Free or Die

  7. #37
    us
    Jul 2013
    SoCal
    1,163
    337 times
    Garage Sales/ CRH
    Quote Originally Posted by Megalodon View Post
    My credit union has 1 year cds for 2.25%, federally insured and you can build a ladder of cds for cash investing.
    Quote Originally Posted by Megalodon View Post
    My credit union has 1 year cds for 2.25%, federally insured and you can build a ladder of cds for cash investing.
    Just remember that if you decide to go with something like this, you actually end up loosing "wealth" or "purchasing power" year to year once you account for inflation at a rate of 3-3.5% annually. Not the easiest thing to explain, but let me try:

    Say you have $100,000, and a can of soda costs $1.000. Today, you'd be able to buy 100,000 cans of soda. Now if you invested that money into a CD at 2.25% annually for one year, and came back a year later, you'd then have $102,250. If you account for inflation at 3.5% annually, that $1.00 soda now costs you $1.035. So at one year later, you are only able to buy 98,792 sodas. So even though you have more money, you actually have less wealth and purchasing power.

    This is why I always strongly advise people I converse with to seek other investment opportunities vs these pathetically low ROI's like 2.25% bonds/ CDs. Of course at the end of the day, the CD is a better investment than just letting your money sit in a bank. If you did that, at the end of the year you'd only be able to buy 97,087 soda.

    Now if you took that $100,000 and invested in something at 8-10% range, you would end the following year with $110,000 and be able to buy 106,796 sodas. There are a lot of opportunities like this out there, you just have to seek them out and try to find them. And if we ever hit a point where we get into a hyper inflationary period, and having a government backed CD, where the government will actually need to pay you back, it will cause endless headaches and procedures to actually get your money back, and at the end of the day you'll just get more printed worthless fiat money from the government anyways. The FDIC only insures people for $250,000. If SHTF and all the big banks went under, how do you expect the government to actually pay back 93% of Americans who have some type of holdings in these large banks? It's kind of an unrealistic expectation to hold the FDIC/ government responsible for this. In the end I think they would end up having to print more money to pay everyone back, just devaluing the dollar even more.

    We are entering into a very new era here in modern history with extremely low interest rates, with the possibility of zero/ negative interest rates in the near future. While I can see the argument for negative interest rates, I think the harm would exceed the good drastically. Huge bubbles, riots, increased crime, money moving offshore, bank withdraw limits for your own cash, etc. Its going to be interesting to see how Denmark, Switzerland, and Japan economies look after 5/10 years of implying negative interest rates.

    Just my 2c. Take it as you will.
    Dozer D and A2coins like this.
    You're never know it all... Keep an open mind and keep learning.

    eBay Store: http://stores.ebay.com/jewelryandwatchoutlet

    ^ Putting myself through college, wish me luck

  8. #38

    Jun 2012
    Oklahoma
    Equinox 800, Ace 250
    425
    338 times
    All Types Of Treasure Hunting
    Quote Originally Posted by jrf30 View Post
    "Use a fee only financial adviser. "

    I won't get into it, but I say I disagree with this entirely. there is no such thing as an absolute answer. I also find those fee only guys to do so in order ot be the good guy when the investments don't perform. You can fire the manager they hired instead of firing them.

    Personal experience. Sometimes you find good ones out there that are not fee only.
    I try not to talk in absolutes all the time but I feel strongly enough about this subject that I'm not going to stick with it.

    I'm not sure what you mean about "fire the manager they hired". Fee only guys simply advise and administrate based on performance, fund fees, balance, and goals of the customer. They don't have managers....that's the point. They have no reason to give bad advice.

    You are correct. It is possible to find a commission based financial adviser that is good but remember this: The best advice for YOUR finances will DIRECTLY result in a commission based financial advisor making less money....period. This is fact. In other words, they directly, and usually immediately benefit from selling you poor financial instruments. So the individual would need to be of extremely high character and knowledge. A willingness to make less money to give honest, good advice.

    So if you have a FA and you're happy with him...that's great. For everyone else, I recommend going to NAPFA.org to find a fee only financial advisor near you.

    OO
    A2coins likes this.

  9. #39

    Jun 2012
    Oklahoma
    Equinox 800, Ace 250
    425
    338 times
    All Types Of Treasure Hunting
    Quote Originally Posted by GlenDronach View Post
    And check that they have completed certification, like a Certified Financial Planner. It means nothing if they made their own title up.

    I'd never rely solely on financial advice from a planner without training and who wants you to invest only in plans that benefit them or their company.
    Yes Glen. I completely agree. This is why I recommend people search NAPFA.org for a financial advisor.
    A2coins likes this.

  10. #40
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    1,606
    2518 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Omega View Post
    Just remember that if you decide to go with something like this, you actually end up loosing "wealth" or "purchasing power" year to year once you account for inflation at a rate of 3-3.5% annually. Not the easiest thing to explain, but let me try:

    Say you have $100,000, and a can of soda costs $1.000. Today, you'd be able to buy 100,000 cans of soda. Now if you invested that money into a CD at 2.25% annually for one year, and came back a year later, you'd then have $102,250. If you account for inflation at 3.5% annually, that $1.00 soda now costs you $1.035. So at one year later, you are only able to buy 98,792 sodas. So even though you have more money, you actually have less wealth and purchasing power.

    This is why I always strongly advise people I converse with to seek other investment opportunities vs these pathetically low ROI's like 2.25% bonds/ CDs. Of course at the end of the day, the CD is a better investment than just letting your money sit in a bank. If you did that, at the end of the year you'd only be able to buy 97,087 soda.

    Now if you took that $100,000 and invested in something at 8-10% range, you would end the following year with $110,000 and be able to buy 106,796 sodas. There are a lot of opportunities like this out there, you just have to seek them out and try to find them. And if we ever hit a point where we get into a hyper inflationary period, and having a government backed CD, where the government will actually need to pay you back, it will cause endless headaches and procedures to actually get your money back, and at the end of the day you'll just get more printed worthless fiat money from the government anyways. The FDIC only insures people for $250,000. If SHTF and all the big banks went under, how do you expect the government to actually pay back 93% of Americans who have some type of holdings in these large banks? It's kind of an unrealistic expectation to hold the FDIC/ government responsible for this. In the end I think they would end up having to print more money to pay everyone back, just devaluing the dollar even more.

    We are entering into a very new era here in modern history with extremely low interest rates, with the possibility of zero/ negative interest rates in the near future. While I can see the argument for negative interest rates, I think the harm would exceed the good drastically. Huge bubbles, riots, increased crime, money moving offshore, bank withdraw limits for your own cash, etc. Its going to be interesting to see how Denmark, Switzerland, and Japan economies look after 5/10 years of implying negative interest rates.

    Just my 2c. Take it as you will.
    Having done this for more than half a century, I'm well aware of how inflation works. I saw it the most in the 1980's. My point was and still is, to diversify. I have learned this lesson the hard way myself. With years of returns over 30% (and up to 70% annually), in a no-load science and tech stock mutual fund - which was diversified within its sector but not among all sectors, I rode over 10K shares from a high of $78/share in March of 2000 to $7/share in late 2002 during the tech market crash. That one fund alone decreased in value by over 3/4M. It took a long time to harvest the losses to offset capital gains from other investments and income, especially with the limit of 3K offset of ordinary income...

    CD's are federally insured and one will not lose money. All investment portfolios should have some cash holdings, with the amount depending upon one's individual circumstances. You are correct that rates will be cut again, so I will be buying more CD's now, and probably selling some stock investments that are far too risky for someone my age. Nobody would recommend a retired person in his 60's to be invested 99% in aggressive stock mutual funds and individual stocks. I don't need a financial advisor to tell me this, just the inertia to stop doing fun things for a few days to re-arrange a complex portfolio. I will continue to sell investments with an eye toward minimizing capital gains and putting the cash in cash investments like CD's and treasury money market funds.

    I'm far more concerned about the long-term consequences of politically driven massive deficits that will harm our children and grandchildren than I am about FDIC, of all things. And the only reason why anyone in the US is trying to lower interest rates by political interference with the fed is corruption in an attempt to lower his own adjustable rate loans by about $300M.
    Last edited by Megalodon; Sep 17, 2019 at 03:56 PM.
    A2coins likes this.

  11. #41
    Charter Member
    us
    Tommy

    Dec 2015
    Ann Arbor
    Equinox 800
    24,090
    30808 times
    All Types Of Treasure Hunting
    Honorable Mentions (2)
    Ok you guys lost me lol I have enough to invest in a big mac and some fries so I'm on my way they do have high interest rates
    I'm very interested. Thanks all
    Last edited by A2coins; Sep 18, 2019 at 01:23 PM.

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  12. #42
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
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    Quote Originally Posted by A2coins View Post
    Ok you guys lost me lol I have enough to invest in a big mac and some fries so I'm on my way they do have high interest rates
    I'm very interested. Thanks all
    LOL and yuck to the big mac and fries. But their premium crispy chicken sandwiches are ok - well worth diversifying!

    I did buy stock in McD's long ago in my kids names in a uniform gift to minor's account so they could learn to follow a stock they actually owned.
    Last edited by Megalodon; Sep 18, 2019 at 05:18 PM.
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