Why do you buy silver?

[Roy]

1 minute ago, Goldhooked said:

I’m guessing most people don’t invest in PMs as their only pension source.  It’s probably in addition to property, other savings/investments or just the plain old state pension.

A hobby then? 

[JunkBond]

1 minute ago, danmc82 said:

Thats alot of Silver 😁 

 

Especially if it's all 1oz Brits.

[Roy]

Even BYB's kitchen table would struggle

[Mark10110]

10 minutes ago, Roy said:

As a non financial advisor, I strongly recommend you do not do that.

you understand how pensions work right now in the work place?

You put something like £7 a week into it, if you are lucky your workplace will also add 10% to 100%  to match what you pay in, you do this for say 30-45 years, meanwhile inflation is making that £7 a week look like pennys and when you come to get your pension (assuming that the company holding your money don't go "bankrupt" and lose what fiat you let them hold), you are left with a greatly devalued payout.

Lets look at a pension if you paid in back in the 70s...

With the benefit of 34 years' hindsight, life in 1970 appears to have been ludicrously cheap. A loaf of bread cost 9p and the average weekly wage was around £32. Today, a loaf costs 53p and weekly wages are about £475.

Property prices have also risen. In 1970, homebuyers could expect to pay £4,975 for a house. Today, their children would not get much change from £140,000.

 

Now explain to me why silver is a bad idea for a pension.

 

If you are just saying its a bad idea based on space, then when you have a big collection, say in 10 years or 20 years. inflation would have made it already working at a profit, Sell it and buy gold. Then continue with silver again.

To be honest I would say it is the safe pension plan. 

[Roy]

Yes I do, I have one.

And 3 houses.

That's why I believe silver is a bad idea for a pension.

Did you copy and paste?

[Goldhooked]

7 minutes ago, Roy said:

A hobby then? 

I have property that will provide an additional income when I retire but I wouldn’t call it a hobby!

[Roy]

It can be tough at times! 😊

[Mark10110]

1 minute ago, Roy said:

Yes I do, I have one.

And 3 houses.

That's why I believe silver is a bad idea for a pension.

Did you copy and paste?

did I copy and paste? yes the info about the 70's.

So you are saying the housing market is safer than silver and gold for a pension.

We all have our opinions but I would argue that houses are severely overvalued, Speaking as a tradesman.

[JunkBond]

8 minutes ago, Mark10110 said:

Now explain to me why silver is a bad idea for a pension.

An income? I just can't see it.

Storage of wealth, sure but as @Roy points out it's on a big scale with silver. But with gold however...

[Mark10110]

12 minutes ago, Mark10110 said:

If you are just saying its a bad idea based on space, then when you have a big collection, say in 10 years or 20 years. inflation would have made it already working at a profit, Sell it and buy gold. Then continue with silver again.

 

1 minute ago, JunkBond said:

An income? I just can't see it.

Storage of wealth, sure but as @Roy points out it's on a big scale with silver. But with gold however...

 

I did mention this.

 

[Roy]

Yes, although gold is also a better option of course.

I agree, house prices are ridiculous but they don't worry me.

I've bought cheap houses but paid 9% interest.

My current BTL mortgage is 1.2%. You like to mention inflation? 

[Mark10110]

2 minutes ago, Roy said:

Yes, although gold is also a better option of course.

I agree, house prices are ridiculous but they don't worry me.

I've bought cheap houses but paid 9% interest.

My current BTL mortgage is 1.2%. You like to mention inflation? 

Pensions and investments are not the same thing.

[Goldhooked]

6 minutes ago, Mark10110 said:

So you are saying the housing market is safer than silver and gold for a pension.

We all have our opinions but I would argue that houses are severely overvalued, Speaking as a tradesman.

There is an element of risk with everything which is why diverse portfolios are sensible.  It would be risky to have just one for a pension.  Personally I have a mix of silver, gold, savings, investments, shares, 2 pension schemes and property.  And it might all still be worthless if the world goes to sh!t!!

[sixgun]

35 minutes ago, Roy said:

How can silver possibly be used as a pension?

 

Yes - it can in Kinesis - wait and see how it develops.

[Roy]

1 minute ago, Goldhooked said:

And it might all still be worthless if the world goes to sh!t!!

No, you'll have somewhere to live

[Mark10110]

3 minutes ago, Roy said:

Yes, although gold is also a better option of course.

I agree, house prices are ridiculous but they don't worry me.

I've bought cheap houses but paid 9% interest.

My current BTL mortgage is 1.2%. You like to mention inflation? 

the whole BTL is attractive but comes with high risk too, the obvious energy rating regulations that keep changing, tenant risks, the risk of the housing market bubble popping and you losing everything.

Anyways I was talking about silver in a silver forum, don't know why we are talking about real estate.

[Roy]

1 minute ago, sixgun said:

Yes - it can in Kinesis - wait and see how it develops.

I am interested 

[Goldhooked]

5 minutes ago, Roy said:

No, you'll have somewhere to live

Not if it’s burned down by marauding mobs or incinerated by a cruise missile! Hopefully it won’t go that far to sh!t - if it does, cigarettes and alcohol might make a decent pension pot  

[Roy]

And paracetamol

[Mark10110]

3 minutes ago, Goldhooked said:

There is an element of risk with everything which is why diverse portfolios are sensible.  It would be risky to have just one for a pension.  Personally I have a mix of silver, gold, savings, investments, shares, 2 pension schemes and property.  And it might all still be worthless if the world goes to sh!t!!

I have a few pensions going along side of my metals, I throw a bit into crypto and I am always looking for something new, I put myself through college to get Gas safe so my best investment is in myself.

[Goldhooked]

2 minutes ago, Mark10110 said:

the whole BTL is attractive but comes with high risk too, the obvious energy rating regulations that keep changing, tenant risks, the risk of the housing market bubble popping and you losing everything.

I wouldn’t recommend anyone new getting in to it at the moment.  As you said, too much against it going on at the moment.  But for those who have been in for a while, don’t have large LTVs and can manage the increased tax liabilities sensibly, it’s still worth it.

[Roy]

1 minute ago, Mark10110 said:

I put myself through college to get Gas safe so my best investment is in myself.

Now you're talking!

Honest graft, being paid from the neck up is the key.

You'll never go hungry.

[sixgun]

1 minute ago, Roy said:

I am interested 

i have taken the risk of buying the Kinesis Velocity Tokens - still on sale but no discounts now. This will get 20% of the top line income Kinesis generates. If Kinesis performs poorly one might think it a rash investment but you can say that for anything. This week the CEO of Kinesis told the same group of Kinesis Ambassadors he and his dad were all in on KVT's. If it does what it says on the label there were be a number of multi millionaires and a few billionaires.

So there is risk but if you get involved in the coins this is a less risky bet. Indeed it is not a risky bet. The Allocated Bullion Exchange is a vaulting system with a trading platform through which you can buy and sell bullion stored in the vaulting system. It has been running a few years now. The metal is there, people buy, sell, take delivery blah blah. Then they are adding Kinesis in. This is a means of recording title of ownership over the metal. Each gold coin is 1g of gold and each silver 10g of silver. These blockchain units are title of ownership. You will be able to spend, send and trade them.

To create coins investors must stump up the cash and buy metal on the ABX which has its title of ownership recorded on the Stellar blockchain as Kinesis coins. You have vaulted metal with your ownership recorded in 'cryptocurrency'. This is the minting process. You sell the coins - they will trade on the German Stock Exchange - this is all sorted. You will sell through the ABX platform. You get the cash back and you can buy more metal. You can loop round and round. Every coin you mint has your mark recorded on the blockchain. When the coins change hands thereafter there is a small transaction fee which you are entitled to a share of. There are transaction fees with paypal and cards so nothing new except the people investing in Kinesis will get the spoils not the banks.

i will be taking my KVT income and minting Kinesis coins. Every month as my KVT income builds up i will be minting more and more. Then my royalties from coins will start mounting up. Round and round like a whirling Dervish. Getting yield in Kinesis coins, selling them, reinvesting in metal, minting coins and selling them again. i think i may be able to squeeze in 10 x a month. i can stop anytime i like but i will still get an income from the coins i have already minted and the KVT income will just keep coming.

If you simply put cash into the system to buy coins from a minter there is a yield.

So you can create an income stream from gold and silver.

[MickD]

Suppose a lot depends on age.  AVCs are a bit of a no-brainer for me , even if I only get the tax back but it's a pretty short-term risk. Didn't want to put all of my eggs into one basket so started getting interested in pms, which rapidly turned into an obsession.  Worst case, as has been said before, pms go to the kids.

Would agree with the comments above, investing in yourself (education / professional competence) makes a lot of sense and probably a lot more satisfying than watching any other investment go up or down.

[Roy]

@sixgun

can we supply our own metal?