a time to quit?

[Fluttershy]

Having read the "exist stage left..." thread and a few others about Exit strategy, a thought that occured to me was that it would be more of a "problem" if you kept on buying until death.

 

so I`m thinking as read some the replies, that if you bought enough Silver and Gold then stopped and just carried on spending your money like the other 99% of the population for the rest of your days, then exit strategy wouldn`t really be that much of an issue.

You`de just be like an ordinary person with a load of silver and gold as a "back up", and not really have to ever think about it again, but rather consider it as Job done and move on.

 

so at what point do you plan on stopping stacking?

 

I know Some will say NEVER!!!!....

 

but it`s also a thing worth considering too in my opinion.

 

 

for me, I want to have enough silver/gold for a family of 4 to live on for year as if there was Zero income at all.

that`s at least my near-term goal, and although this may change (towards the greedier side), that is what I set to do Initially.

 

what about yourself?

 

 

[HelpingHands]

It might not be a time to stop buying but a price to stop buying at.

[Paul]

This past 5 year window i roughly been in the stacking game

Regardless whether i have bought gold at the 2011 highs which i did or the 2014 lows ( i bought at the highs and lows) the moves have not really bothered me too much mentally

Once i have converted my fiat cash to gold it gives me a sense of personal relief i have put a degree of separation between my cash and the bank/banksters to gamble with

It also gives a sense of insurance that should the worst ever happen in these uncertain times we live in, gold is always my insurance and will always be worth £something

Once i have converted fiat cash into gold it removes the temptation the fritter the cash away on something i don't need,  I have managed to save in the past 5 years, far more than i ever have in previous part of my earlier life.  It would take a very serious decision for me to part with any of my gold.

Lastly, as my pile of shiny metal increases month on month you get such a sense of personal achievement that you cannot value.

 

Knowing you have hold the equivalent of a 5years + years worth of salary gives a sense of security in case should the worst happen and you loose my job

 

Gold is your instant pension pot you can dip into at any stage from 18 until to 100 years old with just a 4-5% spread.  If you are buying at lowest % per oz and selling at near to 100% of spot.  Just shame it doesn't pay a dividend or interest.

 

When is enough enough ?  i dont know.  I think i will just continue as i am.  

So i am part stacker, part collector, part addict, part speculator, part investor, part saver, part collapseatrian, part best price per oz, part hoarder, part OCD, and lastly part writer of too long forum posts

[Fluttershy]

Oh yes! I couldn`t agree more, there`s no way I would pay more than the right amount just to attain my goal, I too would hold buying until the price came down.

 

having said that though, once I Enough personal metal, I do plan on stopping (unless the price goes Silly low!).

 

Question is, what`s "Enough Metal"?

 

@Paul, Love the "part best price per oz, part hoarder, part OCD" part, I can identify with all those

[Paul]

Question is, what`s "Enough Metal"?

 

Everones personal situation is different.

Mortage free? Do you have kids ? Do you you live a £50k lifestyle on a £20k job? Do yo have debts? Do you plan on leaving your stack to family? do you plan to spend it all ?

 

Too much an opened ended question to give a meaningful useful  answer.

[Fluttershy]

I wasn`t after a definitive, all conclusive, fits-all answer, more of a general set of opinions from a wide variety of people, that I can then extrapolate a theme/pattern from (if one exists at all), and possible some good advice and new perspective that I`d not previously considered.

[JayB]

An excellent topic!

 

Unfortunately, as Paul rightly says, there are too many variables to form an answer...or even a pattern or trend.

 

But to be fair, I can offer a personal opinion if that's of any help.

 

Like Paul, I believe PM's to be an excellent store of wealth but for me, I couldn't stack enough silver ever to fulfil my needs.

 

What would a family of 4 require to survive a year without salary? 20k? 25k? That's a lot of silver.

 

I'd suggest that a PM stack is only a supplement to a pension. And then, would assume that one is mortgage free and if living overseas had adequate heath care/medical cover.

[Lea79]

I intend to stack Pm's until I'm 55 ( im 35 now) then wait 10yrs until I retire. This way they've hopefully they've had enough time to mature and I've got a little top up to my pension should that fall short.

My PMs are there as an emergency should I need them but I'd have to be really skint to sell them.

[SilverPirate]

I think i am going to stop at 100oz silver got 90oz at the moment, Then i am going to stack more gold how much i don't know yet.

[watchesandwhisky]

I think for me 500 oz of silver and ten oz gold. then I will clean up my stack a bit, sell some bits that dont quite fit in or I no longer want, Reinvest that money into some new venture and then restack upto targets again with things I want. 

 

Who am I kidding..Thats a nice plan but I will probably keep buying regardless. But its nice to know I could easily liquidate some and invest in something else.

[MickB]

I had a goal of 200oz's of silver when I started just under two years ago. Now at 250oz and can't see when I'm going to stop.

I'll probably quit buying when silver is around £30 an ounce, so only a few years to go I think.

[ChrisSilver]

If gold and silver prices increase dramatically, i.e. double or three to four times the current price. Then I will probably stop stacking. I will still continue to collect the coins I am collecting no doubt, but I will stop buying multiples as precious metals wouldn't be as attractive.

If however it took 20 years for the price to double, I would still buy just as much, because taking inflation into account it would still be cheap in my opinion.

I think stopping at a specific number of oz isn't very logical. If you still have some spare income, and the price is still low. Why stop?

[Keithoil]

I am fast approaching 2300 ounces of silver, but I am still stacking. That should last a while if it was ever required.

 

My personal circumstances have changed I am not working in the Middle East any more or will not be come the 16th April. Back to the UK and more than likely will be working for myself in the building industry.

 

I digress, I will still buy silver and gold as long as I can, and hope never to have to use it in anger.

 

Just pass it on down the line.

 

As an aside both my sons have now started to collect silver which for me is good news.

[Danny-boy]

I think stopping at a specific number of oz isn't very logical. If you still have some spare income, and the price is still low. Why stop?

Im stopping at 520oz and 10 sovereigns regardless.

My spare income will then go towards other investments.

[Kman]

As long as I feel my money is safe in them and I can afford to buy without becoming over exposed (beyond a small % of my overall investing power) then I will go on open ended probably 

 

For me only really buying gold, storage isn't such an issue, I imagine a lot of years stacking silver it might become a hassle. 

[FriedrichVonHayek]

http://goldprice.org/gold-silver-ratio.html

 

My goal is 1kg of Gold!

I will be using the Gold Silver ratio to help me on my way.

There should be a few opportunities in the coming years to swap out of my Silver into Gold.

[JayB]

Danny, not personal but..

 

520 oz of silver? For what?

 

10 sovs? For what?

 

A new conservatory?

[Danny-boy]

Danny, not personal but..

520 oz of silver? For what?

10 sovs? For what?

A new conservatory?

It's my personal goal, once it's achieved I'm done.

[JayB]

Fair play.

 

So will you be leaving the Silver Forum soon? Hanging up your moderator's hat?

[Pete]

Some people will try to achieve their weight in silver BUT anyone who stacks at this level will find it impossible to stop as it has become addictive.

Maybe to "coin" a new term - PMO ??

Translated into 'Precious Metals Obesity'

[Danny-boy]

So will you be leaving the Silver Forum soon? Hanging up your moderator's hat?

Not sure, but it seems to worry you somewhat [emoji7]

[JayB]

Of course! I've appreciated your unbiased, warm and affectionate handling of this forum.

 

You will be seriously missed and I wish you success in the next venture you wish to have control over.

 

Those that can, do....those that can't moderate.

[Danny-boy]

Of course! I've appreciated your unbiased, warm and affectionate handling of this forum.

You will be seriously missed and I wish you success in the next venture you wish to have control over.

Those that can, do....those that can't moderate.

Lol.

Don't fret, I'll be around for a while yet.

It's all about the control [emoji1]

[JayB]

Love you Danny-boy!

 

A sense of humour....priceless 

[HighlandTiger]

Some people will try to achieve their weight in silver 

 

Sounds like a plan.

 

Only 2134 oz t to go.......................