Stacking/Collecting for our descendants future.

[SilverPirate]

I am seriously thinking of making my stack an insurance policy for my Grandchildren, and by-passing my own gain from this addiction to precious metals.

I would love to hand down a 100 oz bar to each Grandchild but i have five children and who knows where it will end i have two Grandchildren at the moment.So it makes sense to stack 1oz silver so it can be split,split and split again as each Grandchild comes along.

If i do this i could throw my cost average working out book in the bin,why would i need to cost average everything? just buy what i like,buy whats a bargain and buy what i think might go up in collectible value, it would not matter to me i would be dead. or given prior to my demise so i will not be bothered about profit.Given in advance of death there is no capital gains tax.

If i gave it to there parents with the wish it was passed down on there demise it could be worth a small fortune and give them a comfortable retirement.

Why not think that long term,What freedom would it give me to collect and stack, i get to enjoy the stack and have the comfort of knowing i have passed a legacy to my Grandchildren,

Are any of you doing this and what plans do you have in place,it would need a letter contained for each Grandchild explaining what the stack contains and how to dispose of it not just weigh it in but do your own diligence before selling it all.

Also defiantly a will.

[HighlandTiger]

If there is anything left in my stack when I'm dead, my kids and grandkids will be able to share it all between them. But until I'm dead, I'll be spending it on me.

 

My mum and dad are semi-retired, (both in their 70's and still working part time) and always going on holidays, seeing the world and enjoying themselves, and I've always joked that they are off spending my inheritance. But seriously, they've worked hard all their lives so why shouldn't they enjoy themselves. I don't want them thinking that they've got to reign all that in because they have to leave something to their kids when they are gone. 

 

I've told them, all I want when they are gone is the garden shed, because that's where the beer fridge is...

[SilverPirate]

SKI ing holiday. S pend K ids I nheritance.

Fair play i fully understand that argument HT,and who knows whats in store for me in the future,If i don't use it, it is there's for sure. 

[Paul]

Not that i would like to see our government & HMRC deprived of their extra pound of flesh at time of death from the taxes they have took all through your working and retired life.  

 

But a few gold sovereigns or 1oz coins bought & spread out over the many, many years and stored securely can be distributed to to nearest and dearest without them sticking their snouts in the trough when an estate goes through probate and death duties.

[SilverPirate]

Not that i would like to see our government & HMRC deprived of their extra pound of flesh at time of death from the taxes they have took all through your working and retired life.  

 

But a few gold sovereigns or 1oz coins bought & spread out over the many, many years and stored securely can be distributed to to nearest and dearest without them sticking their snouts in the trough when an estate goes through probate and death duties.

I am in the process of asking for probate right now the tax's will be horrific.

[Danny-boy]

My stacking is part of my retirement plan, any I don't need to sell will go to my wife & kids.

I have been saving into a pension for nearly 20 years, and of late I have been increasing my contribution by 0.5% per year. This year I increased by a full percent. Currently I pay 3% and my employer 2% of my wage into my pension, I'd like to be at 5 & 2% by Christmas 2016.

My plan is to do as much as I can now for my retirement, and hopefully have too much rather than not enough. If that happens, my descendants will have my PM's.

[SilverPirate]

That's a good reminder on the pension Danny,i will look into that in the coming new year.

[jc1989]

I buy sovereigns as they are easy to group into five/tens etc. the plan is to have small bags of sovereigns for my kids/ grandkids/ nephews & nieces. I am 31 so hope I have many many many more years of stacking so should leave a healthy amount to each.

I have a few pensions lying around which I need to start using but being self employed I don't get the employer benefit so haven't contributed for a few years..... Something to act on in 2015!

[SilvergunSuperman]

At 35 I can't say I've started thinking about what to leave my grandkids yet (will have to produce some kids first). I'll probably just bring them up to invest in PMs themselves and spend my retirement stash on speedboats.