Investing in gold and silver

[Hey-O]

Ya, and once you get up into that range, it doesn't take long at all to double it. You really start making some serious money at that point if you still have some more time on your horizon.

7 to 10 years to double again.

 

[68BabyBlue]

7 to 10 years to double again.

I used to pitch that statistic during my corporate days when I was trying to get drivers to up their 401(k) contributions. We even had a sliding cardboard calculator that showed the numbers based on contributions per month. It was like pulling teeth to get young folks to think that far ahead. You are the fortunate exception. Like you I also started investing at 22, but I didn't get into the stock market until 1985, with $1500 in the Vanguard Windsor fund. For me, law school hammered the concept of tax deferred compounding into place. I envy folks who figured it out on their own.

 

[Hey-O]

A little boy and a girl were standing and talking about what they have and he shows her his gold coin. She shows her bullet and says with this I can get all those I want. In a collapse money will be worthless. Skills are the only thing of value.

If it collapses, Never has in my time. Keep telling yourself the bullet story. Skills, I can turn **** into apple butter. I can afford to buy a few Tomahawk missiles and a tank. Now show me your bullet.

 

[Hey-O]

I used to pitch that statistic during my corporate days when I was trying to get drivers to up their 401(k) contributions. We even had a sliding cardboard calculator that showed the numbers based on contributions per month. It was like pulling teeth to get young folks to think that far ahead. You are the fortunate exception. Like you I also started investing at 22, but I didn't get into the stock market until 1985, with $1500 in the Vanguard Windsor fund. For me, law school hammered the concept of tax deferred compounding into place. I envy folks who figured it out on their own.

I started with whole life insurance policies before the market for us went mainstream. I always had a fear of ending up broke. It drove me.

 

[Hey-O]

This is not a a dick measuring contest. We need to educate our kids today, for a better tomorrow.

 

[68BabyBlue]

I started with whole life insurance policies before the market for us went mainstream. I always had a fear of ending up broke. It drove me.[/QUOT

I started the same way, with whole life. Had a major conflict with my mother (who sold insurance), when the stock market finally went mainstream, struggled to convince her I'd be better off with term life insurance, and tax deferred index funds. I was also fearful of going broke. Like your family, my folks were first generation Americans, which seems to be a plus with this stuff.

 

[Hey-O]

I started the same way, with whole life. Had a major conflict with my mother (who sold insurance), when the stock market finally went mainstream, struggled to convince her I'd be better off with term life insurance, and tax deferred index funds. I was also fearful of going broke. Like your family, my folks were first generation Americans, which seems to be a plus with this stuff.

When my insurance man retired he told me he did the best for me for the times and told me there were other ways to make money now. I appreciated his honesty and I went from there. I cashed in one of the whole life policies to pay for my daughters college. The rest is history.

 

[NJRR]

A little boy and a girl were standing and talking about what they have and he shows her his gold coin. She shows her bullet and says with this I can get all those I want. In a collapse money will be worthless. Skills are the only thing of value.

I thought you were going to say the little girl dropped her pants and said I have something men want more than gold !!!!

 

[chtampa]

I thought you were going to say the little girl dropped her pants and said I have something men want more than gold !!!!

That will actually have some value. The Indians sold Manhattan for some shiny stones, but it would be different now. The only way that gold and silver will have value is if you assume that society will return to how it is now, quickly. When there have been overthrows in other countries, food, water and shelter is what is needed and shiny stones will do little to help you survive. Greed will make targets of anyone with stashes of money. Being poor but resourceful will allow you to survive. You can't eat a rock.

 

[Billccm]

There is an old saying that paper is man's currency and silver and gold is God's currency.

 

[Hey-O]

That will actually have some value. The Indians sold Manhattan for some shiny stones, but it would be different now. The only way that gold and silver will have value is if you assume that society will return to how it is now, quickly. When there have been overthrows in other countries, food, water and shelter is what is needed and shiny stones will do little to help you survive. Greed will make targets of anyone with stashes of money. Being poor but resourceful will allow you to survive. You can't eat a rock.

You're right and no man's value should be judged by money, that's never been my intention. All that is really needed is enough to live a life that is suitable for your needs and or lifestyle. I truly live a simple lifestyle and I'm grateful to be able to do that. My only concern is for my wife, she is legally blind and has been since she was about 17. Odds are I will go first and I need to know that she will have enough to live out the rest of her life with no worries. That has always been my driving force. I have a great wife and she has always put us first and has always been there for our children and me. To me, she is my reward, not any money I may or may not have. I am blessed!! I love my wife and family and I'm not embarrassed or to proud to admit it.

 

[MoparLeo]

Can't talk about 10, 20 30 years ago. Those days are gone .The bad thing about low interest rates....is low interest rates. Hard to earn money when Prime is at o-1%. Used to be easy to double your money every 7 years, not anymore. We just ended a four year cycle of a great stock market. Lets see what happens now. Another big adjustment is coming soon, hold on.

 

[YY1]

The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors obtain a rough estimate of how many years it will take for the initial investment to duplicate itself.

 

[Stoudt]

If the global economy collapses and the money loses its value, investing in gold is among the safest options. The price of gold has increased by over 100% in the last three years, which is quite appealing compared to investments in other instruments such as stocks. During the same period, the shares did not benefit the investors; on the contrary, they've only caused significant losses. According to goldtrends.net, gold is also considered an asset class, which could help build a balanced investment portfolio.

 

[T2R9]

If the global economy collapses and the money is worthless, investing in gold is safest. The price of gold has increased by over 100% in the last three years, which is quite attractive compared to investments in other instruments such as stocks.

Gold was $1270 an oz three years ago today. Today its $1807, that's approximately 35% Not bad, but no where close to 100%

 

[Slap Stick]

As long as the value of gold is tied to the value of the dollar, when the dollar is worth nothing, so is gold.

 

[dadsbee]

All I know for sure is that I should have bought gold when a customer of mine (a TD investment broker) told me to when gold was $310 an ounce. That said, the TSX is up 26% YTD and the Dow 20% YTD so I'm not crying too hard over the decision at this point..

 

[Durandal25]

Rare earth metals, and things used to build chips and solar panels seem to be gaining in value. The issue with metal investing is and will always be, super risky. I've traded in silver and gold. Some folks are trying to leverage crypto into commodities as well and its crazy.

 

[cr8crshr]

Song as the value of gold is tied to the value of the dollar, when the dollar is worth nothing, so is gold.

Well that may be, but it is a value item that can and will be used as a Barter tool. It holds a tangible value unlike a paper back bill will. Granted Legal Tender, but at the rate that the US is going and printing exorbitant amounts of money it is slowly going by the way side. Now Silver on the other hand has both value for trade and barter along with the many uses it carries into the manufacturing sector where Gold, not so much. I but as much Silver Bullion every month so having doing so for a very long time now, I got a lot!!!cr8crshr/Bill

 

[Hey-O]

If we get to the point where we need silver and gold, we're fucked. At that point a gun will be needed.