Too early to sell?

[Roy]

Personally, I think it's too early to sell.

I know folk have a plethora of reasons for listing coins for sale, and none of them are my business, but I think gold has a longer run to go yet.

When you look around at the *prices of everything and the fact your cash is losing its value rapidly, it surely makes sense to preserve your wealth, what little or lot you have.

I like to talk about retirement a lot (it's me age, lad) but you really need to think about it. Sucks to be a poor old man.

Does anyone agree with me? As I said, I understand people sometimes need to cash out, but taking cash profits in this economic climate seems foolish? Keep stacking.

 

* gas is $4 a gal in socal! 😲

 

[Minimalist]

10 minutes ago, Roy said:

but I think gold has a longer run to go yet.

Maybe, but the price is manipulated and the Banks will use any excuse to throw short billions at it.

12 minutes ago, Roy said:

When you look around at the *prices of everything and the fact your cash is losing its value rapidly, it surely makes sense to preserve your wealth, what little or lot you have.

No ones going to sit on cash, its into one type of income generator to another.

13 minutes ago, Roy said:

I like to talk about retirement a lot (it's me age, lad) but you really need to think about it. Sucks to be a poor old man.

Your saying that us millennials will not even get a retirement at this rate…

[FlorinCollector]

*Disclaimer more than likely not smart and do not follow*
 

The more I have saved and learned I have changed the way this savings vehicle works for me. I used to have my gold saved and if a purchase came up that I wanted I would sell and buy the new item with the proceeds. This made my holdings go up small bit at a time.

More recently I have been taking out small loans and using my stack as a kind of leverage. Again not smart and the math probably costs me money it does not need to.
 

But if I want to purchase something at £5k. Aslong as my gold holdings are a lot more than this to cover it in case of emergency. I am more inclined to take a loan at say 3.3% interest front loaded and overpay the loan monthly so that the interest payments are realtivley non existent.(very low).

 

Just what I have been doing for probably the last 2 years. I done this to purchase my first watch. Then when payments are done I have the gold and the watch instead of just the watch. I feel its harder to build when you have no base. 
 

So when prices are up or down I am not too interested in trying to sell the top or buy the bottom. Hope that makes sense.

EDIT: Incase anyone is reading this thinking good idea: I operate on a 3:1 ratio minimum. (Of Liquid assets to debt) I do not count watches or collectables as liquid. 

[Minimalist]

4 minutes ago, FlorinCollector said:

But if I want to purchase something at £5k. Aslong as my gold holdings are a lot more than this to cover it in case of emergency. I am more inclined to take a loan at say 3.3% interest front loaded and overpay the loan monthly so that the interest payments are realtivley non existent.(very low).

Are you declaring your gold on the risk of default?

[FlorinCollector]

2 minutes ago, Minimalist said:

Are you declaring your gold on the risk of default?

No they aren’t secured loans. I am also small time so no loan has ever been bigger than £15k. Its more just in my head if I lost my job I have X amount of gold to sell to pay the loan.

[Roy]

Yes, it's an insurance policy 👍

[Minimalist]

2 minutes ago, FlorinCollector said:

No they aren’t secured loans. I am also small time so no loan has ever been bigger than £15k. Its more just in my head if I lost my job I have X amount of gold to sell to pay the loan.

Good man. I know a few people who do this with motors.

[Roy]

16 minutes ago, Minimalist said:

You're saying that us millennials will not even get a retirement at this rate…

You'll have to work at it much harder than I had to, and I'm sorry about that 😐

[Roy]

22 minutes ago, Minimalist said:

No ones going to sit on cash, its into one type of income generator to another.

I understand this now, as our @Paul said, he sold gold and bought another income producing asset 👍

[HerefordBullyun]

3 minutes ago, Roy said:

I understand this now, as our @Paul said, he sold gold and bought another income producing asset 👍

Are you still thinking coming back to the motherland Roy?

[Foster88]

I think it’s difficult to say for sure and I think it all depends at what age you are and what you’re aiming for.

Sadly, for those of us under 40 (please don’t shout at me anyone older) but I think the status quo has gone out the window the past few years. It’s much, much harder for younger people today. You only have to look at property prices. I wish we could go back to the buying a plot and building  your own house days instead of a box on a housing estate for £200k+ depending on where you are in the country but that’s another topic.

But I’m aware how ignorant people are at times. Recently as an example I told a friend as he went to buy something with £10 in his hand that it was worthless. It was only when I pointed out that printed on it was ‘I promise to pay the bearer on demand the sum of £10”. I haven’t got a bank note to hand but it’s along those lines.

You do make a very good point @Roy and I do think gold has much higher to go. It creeped above the summer 2020 levels just yesterday but almost fell back to where it was.

I think in a war situation, gold might help when fleeing from a country to preserve wealth value. In that situation I think you have to physically have it with you. But those of us who keep it in storage, how are you going to get to it.

[Roy]

I'll be back next week, but yes, the original plan was to divide my time between the UK and the Ph. 

[HerefordBullyun]

Just now, Roy said:

I'll be back next week, but yes, the original plan was to divide my time between the UK and the Ph. 

Enjoy ya british fsh and chips - its a cod with no eyes in it! pop and see Lawrence Im sure he owes you a beer or 3 for the mistakes you spotted!

[Roy]

I dream of:

Guinness (lots of)

Chicken Madras, Lamb Bhuna

Fish and Chips

A good kebab with chilli and garlic sauce

English breakfasts

A mixed grill.

Simple lad, me.

[HerefordBullyun]

1 minute ago, Roy said:

I dream of:

Guinness (lots of)

Chicken Madras, Lamb Bhuna

Fish and Chips

A good kebab with chilli and garlic sauce

English breakfasts

A mixed grill.

Simple lad, me.

Cant you get the Guiness export over the Ph used to get in Masa

[Roy]

[HerefordBullyun]

Just now, Roy said:

Early breakfast mate in the ph aint it lol. I guess you are missing the draft right?

[Roy]

Yes, the export is a bit strong (hic)

I'm not in the Ph. bully, I'm in California 😄

[HerefordBullyun]

2 minutes ago, Roy said:

Yes, the export is a bit strong (hic)

I'm not in the Ph. bully, I'm in California 😄

Nice Im in a city thats twinned with Karachi, least im glad to know how the better half live.... Enjoy the sun and fun whilst its pishing doon here!

[Roy]

It's warm enough but the humidity is low 🙂

[HerefordBullyun]

4 minutes ago, Roy said:

It's warm enough but the humidity is low 🙂

Thanks for the raincheck however Id much prefer you share photos of the beach volleyball being played by nice nubile american maidens, so if you happen to be passing - sharing is carin!

[Minimalist]

34 minutes ago, Roy said:

You'll have to work at it much harder than I had to, and I'm sorry about that 😐

Its alright, our generation are only using Gold and Bitcoin to get downpayments on a 2-bed

...

 

[Roy]

Bitcoin was a gift from the government to the millennials.

Did you miss out?

[FlorinCollector]

@Minimalist At least we don’t live in England. I think id need about a 40-50 year mortgage.

[Minimalist]

3 minutes ago, Roy said:

Did you miss out?

Dont trust it, CIA/NSA creation.

2 minutes ago, FlorinCollector said:

@Minimalist At least we don’t live in England. I think id need about a 40-50 year mortgage.

What about the accents... F*ck me they canny even talk their aine language.