Precious Metals For Retirement Plan Alternatives

[Kman]

I see a lot of people say they're stacking silver and gold as a retirement plan, maybe 5/10/20+ years depending on the person

 

But what if in the very near future, say 2015, silver jumps to a peak price of £100oz and gold to £2000oz

 

When it's at that peak amount it's time to sell, so you sell your perhaps 500oz of silver you managed to stack and get £50,000 and your 10 oz of gold and get £20,000

 

£70,000 in the bank, terrific 

 

But that is your stack and sit on PM's retirement plan out the window isn't it? because you still have 4/9/19+ years to go and your precious metals have gone and you now have £70,000 in the bank getting devalued 

 

Have you guys already thought about where your money would go next?  

[HighlandTiger]

I see a lot of people say they're stacking silver and gold as a retirement plan, maybe 5/10/20+ years depending on the person

 

But what if in the very near future, say 2015, silver jumps to a peak price of £100oz and gold to £2000oz

 

When it's at that peak amount it's time to sell, so you sell your perhaps 5000oz of silver you managed to stack and get £50,000 and your 10 oz of gold and get £20,000

 

£70,000 in the bank, terrific 

 

But that is your stack and sit on PM's retirement plan out the window isn't it? because you still have 4/9/19+ years to go and your precious metals have gone and you now have £70,000 in the bank getting devalued 

 

Have you guys already thought about where your money would go next?  

 

Actually you'd have a bit more than £70k in the bank with your figures. 5000 oz of silver at £100 an oz is £500,000. 

 

If i've got half a million quid sitting in the bank, I couldn't give a monkeys behind if inflation devalues it a fraction. I'll be sitting in the sun, (probably in Portugal in the house just down the road from Shammati) drinking a cool beer watching the world go by.

 

[Kman]

Actually you'd have a bit more than £70k in the bank with your figures. 5000 oz of silver at £100 an oz is £500,000. 

 

If i've got half a million quid sitting in the bank, I couldn't give a monkeys behind if inflation devalues it a fraction. I'll be sitting in the sun, (probably in Portugal in the house just down the road from Shammati) drinking a cool beer watching the world go by.

 

 

Woops

 

I meant 500oz* 

[HighlandTiger]

Woops

 

I meant 500oz* 

in that case I'll stick it all in bitcoins, or perhaps the favourite in the 3:30 at Epsom

 

Or perhaps change tack and try and find a rich widow to sponge off for my retirement. 

[Ares]

If it hits those peaks then there's absolutely no reason in hell you should hold and MUST sell. Wait it out past the "dead kitty bounce" (cheers Maloney ) to get the real dips.

If another 2011 hits where price spikes are so unbelievably huge compared to anything before then that's a peak you can't miss. I don't care if I don't hit the peak, either side of the top will do me just fine.

Probably buy shares with that and wait for that market to strengthen.

That's the theory, just need to pick one (PM vs stocks/property) and ride it to the peak.

Also another problem is having stuff you want to sell

[Keithoil]

Me I don't know, I will worry about it when the time comes.

 

No I won't worry I will be smiling pondering what to do!!!

[garthy]

Good point Kman, before cashing in I think it's important to see where we are economically, I mean if PM's are going through the roof because of inflation it's probably best to keep hold of our metals, you don't want to be sitting on a pile of cash when inflation's running wild.

 

If they're somehow keeping inflation at the 2% range I'd sell all my metal and find something undervalued, if PM's are overvalued  there will be somewhere undervalued, that's the path to real wealth.

[Danny-boy]

Just remember, on the way to £100 an ounce there are lots of numbers.

It depends where you lose your bottle. I'd probably lose mine around the £50 mark.

Foresight of £100 is great, but you would never know that's the top and hindsight is wonderful.

I do wonder how many people here would keep fully stacked all the way to £100.

[Keithoil]

Only the die hards will.

 

With balls of steel or titanium!!!

[Ares]

Only the die hards will.

 

With balls of steel or titanium!!!

Or the ones who love their collection so much they won't settle for anything less

[ukstack]

Id buy a house :] cant go wrong in life if you had a roof over your head least the family will always have a place :] 

 

and id like a garage im a modest kinda guy :] 

[Ares]

Id buy a house :] cant go wrong in life if you had a roof over your head least the family will always have a place :] 

 

and id like a garage im a modest kinda guy :]

Then potentially what may be best when you get that house is cut PM purchases significantly and pay off your mortgage. Pay off any and all debt you incur ASAP and the wealth you accumulate later on is yours and not being siphoned off.

[motorbikez]

I may sell a few gold coins I may sell a few duplicate proofs, I may sell bullion coins, but I will never sell my silver 1/2oz, 1oz, 2oz, 10oz or kilo proofs that are in my collection at any price.I should add I am semi retired own my property outright and have no debts of any kind

[ukstack]

Then potentially what may be best when you get that house is cut PM purchases significantly and pay off your mortgage. Pay off any and all debt you incur ASAP and the wealth you accumulate later on is yours and not being siphoned off.

Ya i know what your saying i dont own any money or pay any interest on anything really so i got a plan ill always stack silver and gold because by buying PM facts are i cant get a house with a few grand of pms anyway. but if it does go up maby double in 20-30 years time its more of a retirement thing for me as we speak today but i wouldn't hesitate to sell if it went high enough to make my life a bit more comfortable :] 

 

great advise tho wish u told me when i was 17 lol 

[HighlandTiger]

 but I will never sell my silver 1/2oz, 1oz, 2oz, 10oz or kilo proofs that are in my collection at any price.

 

I used to say that about my stamp collection.................... but I'll be selling it all off bit by bit  in the next few months 

 

I've come to realise that collections are nothing more than ornaments, nice to look at, but ultimately a complete waste of money in the great scheme of things.

 

If i'd stuck all the money I'd spent on my collections over the last 30 years into a bank account, I'd have retired 5 years ago. 

[Pete]

Remember to be a good citizen and pay your capital gains tax !

[Kman]

Remember to be a good citizen and pay your capital gains tax !

 

Why I'm sticking to British *waves flag*

[motorbikez]

I used to say that about my stamp collection.................... but I'll be selling it all off bit by bit  in the next few months 

 

I've come to realise that collections are nothing more than ornaments, nice to look at, but ultimately a complete waste of money in the great scheme of things.

 

If i'd stuck all the money I'd spent on my collections over the last 30 years into a bank account, I'd have retired 5 years ago. 

 

I'm not really interested in what you have to say about collections and I did retire 5 years ago at 51 years of age after running a successful business for 26 years

[HighlandTiger]

I'm not really interested in what you have to say about collections and I did retire 5 years ago at 51 years of age after running a successful business for 26 years

 

You might not be, but others might be interested . Not all of us are lucky enough to be in your position. 

 

As the old adage goes, "If only I knew then, what I know now........................"  

[motorbikez]

Not at all Highland tiger is entitled to his opinion and obviously what he has collected over the years , he has found to be complete waste of money,I haven't found that to be the case.

 

Like I have said before on here don't put all your eggs in one basket, my coin collection is only a tiny part of my overall assets and if gold and silver went to zero it wouldn't make a shred of difference to me.

[HighlandTiger]

I think that motorbikez may be upset with your words of 'collecting is a waste of money'.

 

Peace for all!!!

 

Unfortunately, in my humble opinion, (that is if i am allowed such an opinion), I do think collecting for collecting sake is inherently a waste of money. But that is my own personal opinion formed from my own personal experiences of someone like me who just happens to have what i loosely term "the collecting gene"

 

I have been collecting one thing or another from the age of 5. I have bought and sold, Stamps, Trading Cards, Toys, Comics, Books, Autographs over the decades, and amassed quite a big collection. You could not get a bigger collector than myself. It's taken me all these years to come across something like PM's that can in a way satisfy my collecting bug, whilst having a built in minimum value to the items. Even today I have to be firm with myself, otherwise I'd be spending a fortune back dating coin sets. Having worked in the gambling industry and the licensed trade industry you learn to recognise the symptoms of addictions. And I'm not embarrased to say that "collecting" does become a form of addiction. How much you let such an addiction rule your life is up to the individual. I want to break out of the cycle of collecting for collectings sake and have a future goal to try to attain. 

 

But what have I got to show for all the money I've spent over the years, other than dozens of boxes full of "ornaments" that I may look at once in a blue moon. There are more things I want to do in life than keep adding to these boxes of stuff.

 

But this is just my own opinion, we are all different. And to be honest, without collectors, the value of our PM coins would be much lower than they currently are, so the more collectors there are the better. I just don't want to fall in the trap myself.

 

But as RBG says, "Peace for all"    

[HighlandTiger]

Not at all Highland tiger is entitled to his opinion and obviously what he has collected over the years , he has found to be complete waste of money

 

Whilst I do begrudge the amount of money I have spent, I don't actually begrudge the items themselves. I still am fascinated with my collection. And there are some pieces that I will find hard to sell. But I am determined to sell them all. After all you can't take it with you when your dead, and the chances are your collection will be sold by your kids anyway when you are. 

[Paul]

i think have very similar personality traits as highland tiger, collected various stuff through my years, LPs, autographs, concert posters since my teenage years.

Buying precious metals seems to satisfy my collecting urges in my heart.

 

Getting your first date runs of kooka, britannias, eagles is great feeling. Also unboxing a new release of a coin yo have never seen before.

 

Regardless whether it is a single coin purchase or x100 oz arriving, when your hear the postman knock at the door it sets the butterflies in the stomach away and then the opening is a 'kid on christmas day feeling' that never seems to go away when buying PMs.

[simon13]

I like to work by rules but I haven't made any for selling PM's yet. After a 50%increase in value from my average £ per Oz, i'll sell 20% and a further 20% of the remainder per 10%increase. Of course it might be better to look at the relative purchasing power to hard assets like land and oil. £70000 if nice but not if it only buys a loaf of bread.

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