Investment Advice Needed Please

[Sy007]

1 hour ago, AuricGoldfinger said:

this is great advice and something i think more members should do - especially those who are over the hill, I’m sure there are plenty!

Even if selling on the forum was a bit daunting for a family member, there is no better place to get advice.

you would be surprised at how many back street pawn/gold shops would take advantage of someones greif and buy a shed load of gold at rip off prices.
 

Forum members always have each others backs, kinda wierd when it’s just a bunch of (mostly men) sat on the internet who never meet lol.

also rather than a member just go silent it would be nice to know if something happened to them

Thanks for your reply. I've been a silent member and I've been having a really good look around the forum. I am an information gatherer by nature and I research hard on any investment.
The journal I am making for my family is more like an instruction booklet. It explains as much information as possible about how to make the most out of the metals investments I have. I think an instructional paragraph about this particular forum is a wonderful option. I never thought of that, probably because of risk, I don't know.
Thanks, @Gordy for bringing that idea to the table. It could just be the answer as I know my family could navigate this site with relative ease.
Thanks again, these replies have been priceless so far.

[sixgun]

In the most recent video on the Kinesis money channel Andrew Maguire talks to Andy Schectman (US precious metals dealer) about various things. It may be worth listening to.

https://www.youtube.com/watch?v=xnHxRF937Rg

They talk about the USD system collapsing - i hear the Kenyan president advise his people to get out of USD. This is good advice. Kenya will from hereon in buy oil in Kenyan shillings. Many countries are using their own currencies. This would be unthinkable a few years ago. The move out of the dollar has really accelerated. When the US / UK / EU started confescating assets of Russia and Russians at the outset of the Special Military Operation in Ukraine - that was the death sentence of Western fiat currencies - it was the death of the Western financial system. We have even seen France's TotalEnergies trading LPG with China in yuan. BRICS is trading more and more in their own currencies and the yuan. BRICS is expanding. We see China brokering peace between Iran and Saudi Arabia. The US will be levered out of Syria soon enough - it will be levered out of Iraq. The reign of the dollar is coming to an end. Dollar advocates imagine it will never happen or if it does it will take decades. They are in La La Land - this process is really accelerating now. 

Think of all the dollars sloshing around - now imagine no-one wants them. Countries will buy in dollars (to get rid of them) but they won't take them in payment. They are dumping dollars back into the US system. As dollars flood back to the US there will be a huge bloating of the money supply - that means serious inflation. The knock on effect will take the whole house down. i heard there is 'Operation Sandman' where it is rumoured that 142 countries will act together to stop using the USD. i see the title of the Kinesis Money video talks about '100+ nations to simultaneously pull out of the dollar system' - Schechtman says it is more than 150 countries involved. 

i mention this b/c it will mean paper assets will be crushed. Your shield and sword are gold and silver. Personally i would not get wrapped up in anything other than tangible assets. We are heading into a financial system collapse. At some point in the future you could switch your metal into property and other assets but as we head into the storm stay in gold and silver.

Schectman - the precious metals dealer recommends coins over larger bars. Think about liquidity. How easy will it be to sell if gold is £10k and silver £200 an ounce? Schectman suggests that the higher cost for coins is offset by their smaller size, how recognisible they are and that they are more liquid. 

Don't buy gold bars - they are too easy to fake. Will the person you sell to have a verifier? Will they trust it is real?

i would buy a mix of gold and silver. i am very biased towards silver b/c i believe silver will appreciate much more against gold. i have been hearing more and more talk about the gold silver ratio go to sub-30. When the metals manipulation unwinds this will happen. i use the Kinesis Money system and i later this year i will shift into mostly silver. i lock in at whatever Gold Silver ratio it is. Then as the ratio falls i can switch into gold and get my gold at half price or one third the price.

So i would get some gold - sovereigns and some silver 1 oz coins. i have lots of silver bars but at the same time i have plenty of coins. i never buy gold bars. Keep them safe. Tell no-one. Buy metal off the forum as it usually works out cheaper. 

Edited April 15, 2023 by sixgun

[Sy007]

6 minutes ago, sixgun said:

In the most recent video on the Kinesis money channel Andrew Maguire talks to Andy Schectman (US precious metals dealer) about various things. It may be worth listening to.

https://www.youtube.com/watch?v=xnHxRF937Rg

They talk about the USD system collapsing - i hear the Kenyan president advise his people to get out of USD. This is good advice. Kenya will from hereon in buy oil in Kenyan shillings. Many countries are using their own currencies. This would be unthinkable a few years ago. The move out of the dollar has really accelerated. When the US / UK / EU started confescating assets of Russia and Russians at the outset of the Special Military Operation in Ukraine - that was the death sentence of Western fiat currencies - it was the death of the Western financial system. We have even seen France's TotalEnergies selling LPG to China in yuan. BRICS is trading more and more in their own currencies and the yuan. BRICS is expanding. We see China brokering peace between Iran and Saudi Arabia. The US will be levered out of Syria soon enough - it will be levered out of Iraq. The reign of the dollar is coming to an end. Dollar advocates imagine it will never happen or if it does it will take decades. No change this process is really accelerating now. 

Think of all the dollars sloshing around - now imagine no-one wants them. Countries will buy in dollars but they won't take them in payment. They are dumping dollars back into the US system. As dollars flood back to the US there will be a huge bloating of the money supply - that means serious inflation.  i heard there is 'Operation Sandman' where it is rumoured that 142 countries will act together to stop using the USD. i see the title of the Kinesis Money video talks about '100+ nations to simultaneously pull out of the dollar system'

i mention this b/c it will mean paper assets will crushed. Your shield and sword are gold and silver. Personally i would not get wrapped up in anything other than tangible assets. We are heading into a financial system collapse. 

Schectman - the precious metals dealers recommends coins over larger bars. Think about liquidity. How easy will it be to sell if gold is £10k and silver £200 an ounce? Schectman suggests that the higher cost for coins is offset by their smaller size, how recognisible they are and that they are more liquid. 

Don't buy gold bars - they are too easy to fake. Will the person you sell to have a verifier? Will they trust it is real?

i will buy a mix of gold and silver. i am very biased towards silver b/c i believe silver will appreciate much more against gold. i have been hearing more and more talk about the gold silver ratio go to sub-30. When the metals manipulation unwinds this will happen.

So i would get some gold - sovereigns and some silver 1 oz coins. i have lots of silver bars but at the same time i have plenty of coins. i never buy gold bars. Keep them safe. Tell no-one. Buy metal off the forum as it usually works out cheaper. 

Thanks for your advice. I am a silver investor with minimal gold. I am looking for the right ways to purchase bullion and your opinions are welcomed, thank you for your time.

[dicker]

I don’t really give people specific advice but in general terms:

- Pound cost averaging makes sense

- Spread risk and portfolio

- Pay off debts as early as possible

- Invest using a risk model that matches your age.  If you are 25 you can take more risks than if you are due to retire in 5 years.  

It’s easy to get carried away with “gold will be at 20k an ounce by the end of the decade etc etc etc”.  Just look at things in the round.  
 

Best

Dicker

[sixgun]

Just now, Sy007 said:

Thanks for your advice. I am a silver investor with minimal gold. I am looking for the right ways to purchase bullion and your opinions are welcomed, thank you for your time.

Buy it on the Silver Forum - buy UK coins where possible. Buy what looks to be good value.

[sixgun]

3 minutes ago, dicker said:

It’s easy to get carried away with “gold will be at 20k an ounce by the end of the decade etc etc etc”.  Just look at things in the round.  
 

20k plus is innevitable as the real value of fiat goes down the toilet. 
Gold and silver are there to be your sword and shield - to protect you as paper assets conflagrate. 

Edited April 15, 2023 by sixgun

[Arisian]

When I told my Financial advisor 6 years ago I wanted Gold in my SIPP, he was horrified. He said he couldn’t help me and we decided to part ways. 

Since then my Gold SIPP has increased by over 60% and yesterday when Gold started to drop I sold half my stack, 3Kg of Gold, within 10mins. I’ll probably buy it back on Monday when I see how the Market goes, I pay 0.1% transaction charges and  I can buy and sell a dollar or 2 around spot pretty much at any time 24/7.

For me this is the easiest and most cost effective way to buy Gold for the long term. Yes there is Third Party risk, but because of how pensions work that’s unavoidable.

Note only Gold is allowed in SIPPs.

So I have another account outside my pension where I buy Silver, VAT free. Again yesterday I sold over 100Kg of silver in 10minutes. So liquidity is always available at or slightly above spot.

I’ve started buying physical again because I love the Metals and I’m buying mainly Proof coins which I don’t ever expect to make a profit on. But I buy them because they are beautiful things to own, collect and enjoy.

This isn’t advice, just first hand experience of what I’ve done.

[NGMD]

Lots of sound advice from members which usually goes over my head.

The universal advice for precious metals is to buy CGT free coins. Whatever you buy remember it is only worth the spot price(weight). Paying stupid prices over spot is not an investment, but a collection.

Avoid proofs unless you have inside information about a winner (very very rare).

1st- Get a safe deposit box. Cost you to start about £120 a year and comes with nominal insurance cover. Price will fluctuate where you live.
Create a spreadsheet with full cost, description, trade details, of the coin/bar and insert image for your family if you croak it. Encrypt the file.

My goal is to have a 1oz of gold a month to sell on my retirement to top up my pension.

Wealth is all about spreading your risk. Premium bonds, ISA, pension , ISA., shares. Do not put more than the Government Insured value in one organisation.

Simple eh?

[JohnA1]

21 minutes ago, NGMD said:

1st- Get a safe deposit box. Cost you to start about £120 a year and comes with nominal insurance cover. Price will fluctuate where you live.

On the subject of the safe deposit box within a bank, it may be worth digging further, as the rules regarding what they can grab can change overnight - especially the night before they announce an extended bank holiday due to "unforseen" circumstances.

https://internationalman.com/articles/say-goodbye-to-your-safe-deposit-box/

[Sy007]

1 hour ago, Arisian said:

When I told my Financial advisor 6 years ago I wanted Gold in my SIPP, he was horrified. He said he couldn’t help me and we decided to part ways. 

Since then my Gold SIPP has increased by over 60% and yesterday when Gold started to drop I sold half my stack, 3Kg of Gold, within 10mins. I’ll probably buy it back on Monday when I see how the Market goes, I pay 0.1% transaction charges and  I can buy and sell a dollar or 2 around spot pretty much at any time 24/7.

For me this is the easiest and most cost effective way to buy Gold for the long term. Yes there is Third Party risk, but because of how pensions work that’s unavoidable.

Note only Gold is allowed in SIPPs.

So I have another account outside my pension where I buy Silver, VAT free. Again yesterday I sold over 100Kg of silver in 10minutes. So liquidity is always available at or slightly above spot.

I’ve started buying physical again because I love the Metals and I’m buying mainly Proof coins which I don’t ever expect to make a profit on. But I buy them because they are beautiful things to own, collect and enjoy.

This isn’t advice, just first hand experience of what I’ve done.

Thanks for replying and congrats on your sales. I'm not doing this for the beauty of it but owning physical metals like silver and gold is a very blessed feeling. I adore the silver proof coins but I have to stay true to my goals. I might buy the odd one or two but let's keep that between us! 

[Sy007]

42 minutes ago, NGMD said:

Lots of sound advice from members which usually goes over my head.

The universal advice for precious metals is to buy CGT free coins. Whatever you buy remember it is only worth the spot price(weight). Paying stupid prices over spot is not an investment, but a collection.

Avoid proofs unless you have inside information about a winner (very very rare).

1st- Get a safe deposit box. Cost you to start about £120 a year and comes with nominal insurance cover. Price will fluctuate where you live.
Create a spreadsheet with full cost, description, trade details, of the coin/bar and insert image for your family if you croak it. Encrypt the file.

My goal is to have a 1oz of gold a month to sell on my retirement to top up my pension.

Wealth is all about spreading your risk. Premium bonds, ISA, pension , ISA., shares. Do not put more than the Government Insured value in one organisation.

Simple eh?

Thanks for your reply. I have a few things in my portfolio but I have a feeling that Gold and Silver will be a decent investment in the very long term. I'm in this for 20 years and I hope the returns will be worth it!

[dicker]

21 hours ago, Arisian said:

When I told my Financial advisor 6 years ago I wanted Gold in my SIPP, he was horrified. He said he couldn’t help me and we decided to part ways. 

Since then my Gold SIPP has increased by over 60% and yesterday when Gold started to drop I sold half my stack, 3Kg of Gold, within 10mins. I’ll probably buy it back on Monday when I see how the Market goes, I pay 0.1% transaction charges and  I can buy and sell a dollar or 2 around spot pretty much at any time 24/7.

For me this is the easiest and most cost effective way to buy Gold for the long term. Yes there is Third Party risk, but because of how pensions work that’s unavoidable.

Note only Gold is allowed in SIPPs.

So I have another account outside my pension where I buy Silver, VAT free. Again yesterday I sold over 100Kg of silver in 10minutes. So liquidity is always available at or slightly above spot.

I’ve started buying physical again because I love the Metals and I’m buying mainly Proof coins which I don’t ever expect to make a profit on. But I buy them because they are beautiful things to own, collect and enjoy.

This isn’t advice, just first hand experience of what I’ve done.

I gave up using an IFA many years ago when I worked out that he was simply my money into products that had the biggest commission - so was best for him.

Beat decision I ever made   

 

[AuricGoldfinger]

24 minutes ago, dicker said:

I gave up using an IFA many years ago when I worked out that he was simply my money into products that had the biggest commission - so was best for him.

Beat decision I ever made   

 

I have found this when I’ve enquired. “No you don’t want a sipp, come and use our pension platform, but all your money from your ISA into it etc etc”

I could actually do with some sound IFA, mostly to do with being more tax efficient but it seems hard to find good advice.

[Bars]

On 15/04/2023 at 15:04, sixgun said:

In the most recent video on the Kinesis money channel Andrew Maguire talks to Andy Schectman (US precious metals dealer) about various things. It may be worth listening to.

https://www.youtube.com/watch?v=xnHxRF937Rg

They talk about the USD system collapsing - i hear the Kenyan president advise his people to get out of USD. This is good advice. Kenya will from hereon in buy oil in Kenyan shillings. Many countries are using their own currencies. This would be unthinkable a few years ago. The move out of the dollar has really accelerated. When the US / UK / EU started confescating assets of Russia and Russians at the outset of the Special Military Operation in Ukraine - that was the death sentence of Western fiat currencies - it was the death of the Western financial system. We have even seen France's TotalEnergies trading LPG with China in yuan. BRICS is trading more and more in their own currencies and the yuan. BRICS is expanding. We see China brokering peace between Iran and Saudi Arabia. The US will be levered out of Syria soon enough - it will be levered out of Iraq. The reign of the dollar is coming to an end. Dollar advocates imagine it will never happen or if it does it will take decades. They are in La La Land - this process is really accelerating now. 

Think of all the dollars sloshing around - now imagine no-one wants them. Countries will buy in dollars (to get rid of them) but they won't take them in payment. They are dumping dollars back into the US system. As dollars flood back to the US there will be a huge bloating of the money supply - that means serious inflation. The knock on effect will take the whole house down. i heard there is 'Operation Sandman' where it is rumoured that 142 countries will act together to stop using the USD. i see the title of the Kinesis Money video talks about '100+ nations to simultaneously pull out of the dollar system' - Schechtman says it is more than 150 countries involved. 

i mention this b/c it will mean paper assets will be crushed. Your shield and sword are gold and silver. Personally i would not get wrapped up in anything other than tangible assets. We are heading into a financial system collapse. At some point in the future you could switch your metal into property and other assets but as we head into the storm stay in gold and silver.

Schectman - the precious metals dealer recommends coins over larger bars. Think about liquidity. How easy will it be to sell if gold is £10k and silver £200 an ounce? Schectman suggests that the higher cost for coins is offset by their smaller size, how recognisible they are and that they are more liquid. 

Don't buy gold bars - they are too easy to fake. Will the person you sell to have a verifier? Will they trust it is real?

i would buy a mix of gold and silver. i am very biased towards silver b/c i believe silver will appreciate much more against gold. i have been hearing more and more talk about the gold silver ratio go to sub-30. When the metals manipulation unwinds this will happen. i use the Kinesis Money system and i later this year i will shift into mostly silver. i lock in at whatever Gold Silver ratio it is. Then as the ratio falls i can switch into gold and get my gold at half price or one third the price.

So i would get some gold - sovereigns and some silver 1 oz coins. i have lots of silver bars but at the same time i have plenty of coins. i never buy gold bars. Keep them safe. Tell no-one. Buy metal off the forum as it usually works out cheaper. 

Six gun talking sense

[Lordwolfsbeard]

On 15/04/2023 at 15:04, sixgun said:

In the most recent video on the Kinesis money channel Andrew Maguire talks to Andy Schectman (US precious metals dealer) about various things. It may be worth listening to.

https://www.youtube.com/watch?v=xnHxRF937Rg

They talk about the USD system collapsing - i hear the Kenyan president advise his people to get out of USD. This is good advice. Kenya will from hereon in buy oil in Kenyan shillings. Many countries are using their own currencies. This would be unthinkable a few years ago. The move out of the dollar has really accelerated. When the US / UK / EU started confescating assets of Russia and Russians at the outset of the Special Military Operation in Ukraine - that was the death sentence of Western fiat currencies - it was the death of the Western financial system. We have even seen France's TotalEnergies trading LPG with China in yuan. BRICS is trading more and more in their own currencies and the yuan. BRICS is expanding. We see China brokering peace between Iran and Saudi Arabia. The US will be levered out of Syria soon enough - it will be levered out of Iraq. The reign of the dollar is coming to an end. Dollar advocates imagine it will never happen or if it does it will take decades. They are in La La Land - this process is really accelerating now. 

Think of all the dollars sloshing around - now imagine no-one wants them. Countries will buy in dollars (to get rid of them) but they won't take them in payment. They are dumping dollars back into the US system. As dollars flood back to the US there will be a huge bloating of the money supply - that means serious inflation. The knock on effect will take the whole house down. i heard there is 'Operation Sandman' where it is rumoured that 142 countries will act together to stop using the USD. i see the title of the Kinesis Money video talks about '100+ nations to simultaneously pull out of the dollar system' - Schechtman says it is more than 150 countries involved. 

i mention this b/c it will mean paper assets will be crushed. Your shield and sword are gold and silver. Personally i would not get wrapped up in anything other than tangible assets. We are heading into a financial system collapse. At some point in the future you could switch your metal into property and other assets but as we head into the storm stay in gold and silver.

Schectman - the precious metals dealer recommends coins over larger bars. Think about liquidity. How easy will it be to sell if gold is £10k and silver £200 an ounce? Schectman suggests that the higher cost for coins is offset by their smaller size, how recognisible they are and that they are more liquid. 

Don't buy gold bars - they are too easy to fake. Will the person you sell to have a verifier? Will they trust it is real?

i would buy a mix of gold and silver. i am very biased towards silver b/c i believe silver will appreciate much more against gold. i have been hearing more and more talk about the gold silver ratio go to sub-30. When the metals manipulation unwinds this will happen. i use the Kinesis Money system and i later this year i will shift into mostly silver. i lock in at whatever Gold Silver ratio it is. Then as the ratio falls i can switch into gold and get my gold at half price or one third the price.

So i would get some gold - sovereigns and some silver 1 oz coins. i have lots of silver bars but at the same time i have plenty of coins. i never buy gold bars. Keep them safe. Tell no-one. Buy metal off the forum as it usually works out cheaper. 

Thanks again Sixgun. 100% agree. On R T Kiyosaki podcast I watched recently he said the same; the dollar is dead and he is only buying gold/ silver coins.

[flyingveepixie]

Buy UK legal tender coins - no CGT.   Gold is better than silver because there is no VAT on UK gold Sterling denominations.  Write it all down explaining what you have, and place your writings in with your will. Explain that if you pop your clogs, there exists a store of wealth which might need to be sold, and if it needs to be sold, a little bit of research would need to be done regarding special years for sovereigns,  the difference between bullion and proof coins, factors which affect spot price of gold and silver, etc etc, and if all else fails, and as a last resort if the family can't deal with it, then instruct them to shove it in the boot and take a drive to Chards in Blackpool, or your alternative preferred dealer, who will buy it for probably less than spot, but at least the family will be able to free up the much needed cash when the time comes..

 

Edited April 17, 2023 by flyingveepixie

[CANV]

kenya has always bought its oil in Kenyan currency. oil is priced in dollars. they can covert their currency into any other currency, for example Russian roubles and buy oil in those.  its matters not ,FX transactions are instant and have the smallest margins of any market on the planet..   but that transaction will still be based on the price of oil in USD.

80 bucks a barrel.  

then its how many Kenyan whatevers that make 80 bucks   to how many Russian turnips that make 80 bucks  and the deal is done. no USD are used at all.  

although of course before the war the Russians would have insisted on USD as they would have zero interest in amassing Kenyan currency.   

[JamesonWeiss]

Hey there. It's great that you're keeping track of your purchases - that's a smart move. If you want to make sure that your family can sell your investment easily in the future, I'd suggest buying from a reputable dealer who can help guide you through the selling process. Have you thought about diversifying your investment portfolio beyond just physical gold? You might want to consider looking into stocks, bonds, and mutual funds as well, to potentially increase your returns. Oh, and speaking of helpful tools, there's a cool thing called the Forex risk calculator that can help you figure out the best position size for your trades and manage your risk. Here's a link to it: https://www.earnforex.com/position-size-calculator/. Hope that helps, and good luck with your investing!

Edited July 4, 2023 by JamesonWeiss