Wealth preservation,....

[Bondo]

Ayuh,...... Has anybody else decided to turn yer fiat currency into gold, silver, or other precious metals,..??
A few months ago, I took a ride over to NH, where there's no sales tax on gold, 'n silver, like there is here in Maine,..... The 5.5% easily paid for the fuel for the trip,.....
And, I got to meet a couple of standup guys in Manchester NH.,......
Tim, the owner of the coin shop, 'n Yankee, the guy that does Yankee Stacking, on youtube,.....

On that trip, I bought $200, face value of Constitutional silver, 'n 2 ounces of gold,.....
The gold, for wealth preservation, 'n the coins for in case of the off chance that the ship hits the fan,.....

I just wish I'd figured this out sooner,....... 20, or 30 years sooner,.....
Money sittin' in a savings account in my credit union, is losing money every month,....
Especially over the last few years,.....
Interest paid, 1.5%,.... Inflation, 9%,.....

 

[racerone]

Most folks invest in real estate to rent.----Then put it to the renters.

 

[dubs283]

Life insurance for me. A few years ago I realized i had accumulated enough policys that were paying their own premiums to roll everything into one monthly payment automatically withdrawn from my checking. A sound investment but takes years for the payoff/loan capability and the return isn't super exciting, but it's there and will be there when I "need" it

Commodity investment is fun but expensive. On a volume scale it can be rewarding quickly but large capital is required to really play. Long term it will pay off well for smaller investments but it can be tempting to "play" around with it and possibly get burned.

Agreed that fiat money is only as good as the sovereignty backing it but isn't everything in a sense fiat? It's worth something because everybody agrees it is. Could be worth an anthropological/sociological study but right now the sun is out, it's Friday and these boats aren't gonna splash themselves. Have fun with the shiny stuff, B!

 

[Bondo]

Most folks invest in real estate to rent.----Then put it to the renters.

Ayuh,...... I did that in NYS, but sold 'em off when I moved back to Maine,.....
It's the money from those investments, that was sitting in my savings account, that I'm now turning into gold, 'n silver,......

Agreed that fiat money is only as good as the sovereignty backing it but isn't everything in a sense fiat? It's worth something because everybody agrees it is.

Agreed, but gold, 'n silver has been accepted as Valuable to mankind, since the beginning of time,....

 

[alldodge]

While you can get higher interest in a place like Marcus (4.4 current), the rate is less then inflation. Metals are good until their not, some goes with everything (stocks, Bonds, etc)

For long term the S&P index, and after Tax dollars maybe look at Roth's

 

[racerone]

People generally need shelter and it appears in northern areas that renters are generating wealth for land / apartment owners.

 

[FLATHEAD]

It’s all a crap shoot, but getting that money out of a savings account that pays 1.5 interest was wise. Annuities are out there paying around 5.5

 

[aspeck]

I have some that I have acquired over the years. About 6 months ago I sat down and inventoried it and did a valuation. I was pleasantly surprised!

 

[dingbat]

Property values and Honeywell Common Stock have been very, very good to me.

If push really comes to shove, owning enough property to be self sufficient will be worth its weight in gold

 

[FLATHEAD]

The gold, for wealth preservation, 'n the coins for in case of the off chance that the ship hits the fan,.....

If it really hits the fan in a big way. There’s no telling what’s going to happen as far as trading and bartering. Total unknown.

 

[Scott Danforth]

the ex got most of my financial nest egg..... I would have been out 4 years ago....

 

[dwco5051]

Property values and Honeywell Common Stock have been very, very good to me.

If push really comes to shove, owning enough property to be self sufficient will be worth its weight in gold

I have told the kids for years "Have enough property to feed yourself and a way to protect it from those that don't."

 

[tpenfield]

Here is Gold over the past 15 years or so . . .
.

.
It just broke through a fairly long term resistance at $2,000/oz. So, if it falls back, it will probably find 'support' at $2,000 or $1,600.

Long term it looks like it has made an average 5% annual value appreciation over the past 15+ years.

It may do fine in accumulating wealth, but it does little to generate income (since you have to sell it to get income).

When you are younger it is important to accumulate wealth. . . when you are older it may be more important to generate income from that wealth. CD's, bonds, and good dividend stocks may be better than Gold from an income perspective. Gold may make your descendants rich.

 

[flashback]

CD's look good to me. As Long as the fed doesn't cut back. I'm barely keeping up with inflation. 5%. Looks pretty good.
..

 

[jimmbo]

Life insurance for me.

Thing is, you aren't around to Reap the Payout.
YEARS ago, MAD Magazine had a Drawing, showing a Corpse with Big Smile, cause he had a big Life Insurance Policy...

 

[racerone]

Most small towns now have a small " tent city " located on the outskirts of town.----I never used to see them.-----Folks just can not find affordable rent anymore.----Politicians just do not seem to care.----Often the local bylaws do not allow anyone to build a small house anymore.

 

[jimmbo]

Most small towns now have a small " tent city " located on the outskirts of town.----I never used to see them.-----Folks just can not find affordable rent anymore.----Politicians just do not seem to care.----Often the local bylaws do not allow anyone to build a small house anymore.

Since 1981, the Poor have been subsidizing the Rich to a greater extent every day.

 

[Pmt133]

I'm moving some into Roth. Beyond that, I got a pension but I highly, highly doubt even a cent of that will be around by the time I retire at the rate my current state is going. A very close friend is working with me to put something together on those Roth accounts so there is maybe something to it when that time comes. Personally, I'll probably be working my way into the grave. Every step forward has felt like 2 backwards for a while now so I remain skeptical on it all... That's hopefully a long way away though.

 

[Bondo]

Life insurance for me. A few years ago I realized i had accumulated enough policys that were paying their own premiums to roll everything into one monthly payment automatically withdrawn from my checking. A sound investment but takes years for the payoff/loan capability and the return isn't super exciting, but it's there and will be there when I "need" it

Ayuh,.... Back in the '60s, my Dad bought life insurance policies, as a Dad, 3 young kids, 'n a wife going back to college,.....
Over the years, they all got rolled over into Ira's, 'n other investments as the federal laws changed,....
Unfortunately, Dad died young, at 62, due to the effects of his childhood disease, polio,....
Mom lasted 10 more years, alone in our homestead, 'n came down with lou garigs disease, passing at 68,....
My two sisters, 'n I got our 3rds of the estate, 'n I turned mine into my 2 houses on Lake Ontario,.....
After I sold the houses, I cut a check to the Ex(nowhere near what she thought I owed her, but still a sizeable chunk of the proceeds),.....

Since then, I've bought a pickup that'll last much longer than I'll need it, an antique Jeep cj5 for a back up rig, 'n I have 5 or 6 boats to keep me busy,....
My SS easily covers my expenses,... I can work for extra spending money anytime I care too,....
I did finance a house for a nephew, so that money pays better than the savings account,..... just not as much as mortgages are paying now,...
This thing with the gold, 'n silver is to just preserve the value of the money sitting in the credit union that's loosing value every month,....

Anyways,..... Here's a treat for you all,..... Ayuh,.... yer's truly,....

 

[aspeck]

Life insurance for me. A few years ago I realized i had accumulated enough policys that were paying their own premiums to roll everything into one monthly payment automatically withdrawn from my checking.

Never liked being worth more dead than alive …