Gold stacking end goals

[SovereignBishop]

3 hours ago, Darr3nG said:

Really? I've never had any issue selling bullion sovereigns - by far the most liquid of all my precious metal coins.

I meant easy for me to part with where as the gold I don't want to!

[GoldStatue]

15 minutes ago, SovereignBishop said:

I never thought of the fact it would avoid paying tax on inheritance. Perfect

The RM gold coins are just VAT and CGT exempt, if they were part of someone's estate the beneficiaries would potentially get clobbered for inheritance tax.

 

[TheShinyStuff]

32 minutes ago, GoldStatue said:

The RM gold coins are just VAT and CGT exempt, if they were part of someone's estate the beneficiaries would potentially get clobbered for inheritance tax.

 

In theory yes, in reality it just gets put in a box and taken to its new home. I'd imagine...😁

[GBStacking]

21 minutes ago, TheShinyStuff said:

In theory yes, in reality it just gets put in a box and taken to its new home. I'd imagine...😁

In a boat, that then unfortunately sinks 😂

 

[Bxlsteve]

13 minutes ago, GBStacking said:

In a boat, that then unfortunately sinks 😂

 

Don’t laugh with our misery… we have all suffered tragic boating experiences. Still have nightmare about that moment of Great Depression 

[SidS]

Well fortunately I didn't succumb to any boating accidents, only opportunistic sales, which left me goldless.

Secretly though, I'd like to buy some gold coins again one day. I reckon £50 face in a mixture of sovereigns or half sovereigns would be great.

Then if I could get a lot more pre-1920 silver to make £50 face in that (mixed denominations), then I'd have a hell of a stash to play monopoly with. The kind of monopoly where you smoke fine cigars and drink whisky.

Edited April 4, 2022 by SidS

[goldsilverdash]

I don’t have an end goal in terms of ounces, just a strategy to keep stacking gold and silver.

I’m 40 years old now, and if all goes well, I will continue to stack until I’m about 60, then sit on my stack for a few years before starting to “de-stack” (or “un-stack”?); liquidating it all gradually and slowly over a period about as long as it took to acquire it. If I reach 80, there would be little left by then.

If I die of old age, I don’t plan to leave anything as inheritance for my daughter (except perhaps what would be needed to cover the costs of my funeral) as she will be well into adulthood by that time and hopefully more than capable of taking care of herself without any further help from me. The most important “inheritance” I will be passing on is to teach her to be independent and self-reliant, and to follow her own path, just as my parents taught me.

However, if I die pre-maturely, I would want everything I have to go towards her upbringing and education.

In the meantime, whatever I have will be there as insurance, and if I ever get into some kind of personal or societal crisis I have it as a backup.

Edited April 4, 2022 by goldsilverdash

[Shep]

Like many others I stack sovereigns with a view to augment my pension when (if) I retire. I also stack so that I can hopefully afford to give my children some security when they’re older (although they won’t know about it until such time I’m confident they’re not financially delinquent).

I inherited a portion of my stack when my gran and grandad died unexpectedly. My grandad stacked sovs so that they could both have a nice retirement. They never got to enjoy it as they should have and this always plays heavily on the back of my mind. I’m careful with my money but I also try to be mindful not to miss out on today with my family for the sake of tomorrow which may never come.

Just as an aside, does anyone else look at their 100+ year old sovereigns and wonder how many people owned these before me, and likely had the exact same goals? The gold in these coins will be and has been forever, we’re just the temporary custodians of it.

Edited April 4, 2022 by Shep

[Stuntman]

Given that I have now managed to buy all the gold/silver/platinum coins and bars that I intended to buy when I started doing this seriously about 5 years ago, I have arguably reached my end goal.  However, this 'stack' is now actually 'a collection' which I don't want to sell...

So my decision is whether to continue buying, but this time to buy gold just as a stack and not a collection.  If I do this, the idea of stacking bullion sovereigns is perfect.  I would just keep buying the current year bullion sovereign as cheaply as I could, as often as I could.

As well as my physical PMs (which are almost all 'a collection') I do have ETF holdings in all 3 main PMs.  I add to these from time to time in my ISA and my SIPP.  These investments will be sold opportunistically on the highs.

I'm sure I will still add occasional items to the PM collection.

All the PMs, whether physical or ETF, are part of a wider set of diversified assets including cash and shares.  And I'm currently overpaying my mortgage and ensuring that I have 2 years of living expenses saved in cash.

I'm in my 50s and intend to stop working within the next 5 years.

[SilverStorm]

10 hours ago, Lyrinn said:

Mortgage overpayment verses PMs is always a hard one. It really comes down to personal circumstances. My mortgage allows me to overpay 10% of the remaining amount - resets in Jan every year - without penalty (additional charges), which I do.

I think finance is a lot like diet. Everything in moderation does no harm. Overpay on mortgage; pay off credit cards (or don't get them); live within your means; repair instead of replace; buy PMs.

Spread your portfolio into as many baskets/assets as possible.

Paying down debt faster is always a good financial decision.  Why pay more interest expense when you don't have to?  At the end of the day (i.e. mortgage term), more money in your pocket is better than in the bank's pocket.

[Stuntman]

^^ It's always a good decision, but sometimes there are better decisions for a given amount of money. Although those decisions usually involve a degree of risk, or judgement.

Pay down your most expensive debt first - that is, interest-bearing credit card balances, unsecured loans etc before paying down your mortgage.

[SilverStorm]

^^^ Well yes, of course.  Credit card debt and unsecured loans should be tackled first, because typically they are at a much higher interest rate.  Every person's financial situation is unique, and there is no "one solution fits all" scenario.   

[GoldenGriffin]

I think that paying down more of your mortgage is good if you think that a realistic increase in interest rate in the future would jeopardise your finances going forward - this would give you a bit of a cushion if interest rates do go up.

I would personally aim to finish paying your mortgage just before you retire.

Pay down any high rate loans first and then put some money in investments that you believe in and taken time to understand.

Might be useful to know what monthly disposable income you actually have for investing?

List all of your outgoings, and I mean all of your outgoings (you'd be surprised), including what you anticipate (e.g. new car every 10 years) and include any reasonable costs associated with any unexpected expenses... engineer callouts, food increases, boiler replacement, appliance replacement etc.  Work out an average e.g. I expect to replace x number of appliances and it would cost £10 a month on average when I include 3 microwaves, 3 kettles, and 1 washing machine over the next 10 years or so.

That way, you know when you invest, you're not eating into the 'cushion' you've set aside.

Edited April 4, 2022 by GoldenGriffin

[modofantasma]

At the moment just aiming to buy all the above ground gold and silver, including yours.

[SilverStorm]

2 hours ago, modofantasma said:

At the moment just aiming to buy all the above ground gold and silver, including yours.

Quick, hide!  Before modo grabs your stash!  😆

[GoldDabbler]

On 04/04/2022 at 00:48, SilverStorm said:

My stacking goal is to join the 100 oz club.   It's extremely difficult, and I don't know if I will ever get there.  But it's the journey, not the destination that's important.  😄

 

On 03/04/2022 at 22:02, SovereignBishop said:

Hi all

I wonder what peoples different goals are when it comes to their stack ?

Do you ever see yourself getting so attached to the stack that you won’t sell ?

 

I am just aiming to save in gold for retirement ( I am 32 currently ) a sovereign a month put away for the next 30 years or so.

but I wonder what everyone else’s thoughts are ?

 

Saving for retirement seems the sensible way to go for me. I've only been collecting sovs for a month but I've already arranged a rental safe deposit box. Bought another two sovs this month. Hoping to add to the deposit box regularly. Wish I'd spent more on gold and not wasted money boozing and clubbing in my earlier years.

[modofantasma]

On 05/04/2022 at 11:38, GoldDabbler said:

Wish I'd spent more on gold and not wasted money boozing and clubbing in my earlier years.

If only