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 Replies: 107 / Views: 8,980 |
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Valued Member
United States
410 Posts |
The problem with most financial planners is that the are really just salesmen trying to sell financial products. A true financial planner charges by the hour not based on sales commissions.
Case in point: Ameriprise. We used them for about 2 years and all they wanted to do is sell us high load mutual funds and insurance. They had no interest in any assets held outside if their company. Salesmen not Financial planners.
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Pillar of the Community
United States
4008 Posts |
Exactly my thought on this, JSH. I do not use a financial planner but if I did I would only hire one on an hourly fee basis. If, during the interview, the subject of annuities came up as a good way to invest my money, it is likely that I would not hire that person. There was a time when interest rates were much higher than today and an immediate annuity for part of one's retirement stash might have been a good idea. These days, though, it is unlikely that an annuity is a good fit for most investors. The fees tend to be high, the pay-out minimal, and the terms and conditions lengthy and complicated.
Because of the reasons you mention, financial planners rarely ever mention PMs as potential investments for retirement money. I believe that this is because the planner does not get a commission on PM sales and once money is invested in PMs, it tends to stay there for a while where it will not come back into the asset pool upon which commissions can be charged. For that reason, most of these planners see such investments as "dead money". It is clear that this line of thinking places more importance on the planner's benefit and less importance on the investor's benefit.
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Pillar of the Community
 United States
3670 Posts |
The gold line is back too its last ten year trends, for now anyway.... I like gold the most of all the metals for two mains reasons.... #1 Trusted history.... #2 Gold reminds me of a life raft lost at sea with some shipwreck survivors trying to bail water out of their boat with four buckets, even though every time they empty four buckets of water out, five more fill into the doomed raft.... If you don't get my analogy, the survivors represent all those big wig figures/power players who's motive is to keep gold down, and the water rushing in, as the gold line constantly pushing up. Sure, they get some energy on a rush of the fear of death here and there, and they get ahead for a bit. But, old slow an steady just keeps coming, and eventually the life boat can no longer stay afloat....  That little guy above, represents the politicians trying to swim to the shore after the raft sinks, hoping to keep their heads above water  .... Edited by Silverhawk74
11/29/2011 10:23 pm
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Valued Member
United States
232 Posts |
The only thing that I do not like about gold is that its hard to buy near melt, it is almost always around 20-30% increase. Where as silver I can buy 90% at melt value.
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Pillar of the Community
Canada
1502 Posts |
does that mean you won't be able to sell gold at 20-30% premium?
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Pillar of the Community
United States
4008 Posts |
I also like gold but am concerned about its high per ounce price. It is about as stable as an investment / hedge can be but it does have some volatility. Of course, all of the PMs have volatility. It was interesting to see the strength of the PMs today while stocks were roaring higher. Money often moves to either stocks or bonds or PMs, so it is somewhat unusual to see 2 of these 3 categories moving in tandem. Silver is still my favorite PM. It is more volatile than gold because of its lower price and much smaller market. Still, that same volatility often results in almost double the gains of gold on a good day. Not that I am interested in doing a lot of buying and selling, of course. I am definitely more of a buy and hold PM investor. Under the right conditions, I would sell some of my silver collection but haven't seen the right conditions for that yet. In fact, I'm not completely sure what those conditions would be... probably some combo of a high silver price combined with some kind of substantial US or world economy meltdown. Other than that, it's STACK ON!  |
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Pillar of the Community
United States
2168 Posts |
I too like silver the best. I have been doing some roll searches and have found 5 90percennt and 12 40s. I like that since I did get silver at face! Kind of makes me have a little offset to the 20 Or 25 over face as of lately! I just got a 40 percent today in 60 dollars I picked up today!
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Pillar of the Community
United States
3670 Posts |
No doubt Ed and Angel silver is the "Smarter buy", as far as a good low bargain price. And one stands a chance to make a whole lot more money on say 500 to 1000 oz. of silver bought all in the low 30's, and sold perhaps when silver hits 75 for example. And I personally think that is a when not an if situation....
And knowing all that above to be true, I still just love gold. Some what of a hypnotic quality it has wrapped up in its beauty. That gleam you see in one's eye, when they hold a great piece in their hand. I share that feeling with more humans that have already lived an died, then you could add up with a calculator. And for that fact, it will always have a solid market I feel, esp with the folk we got making the crucial decisions on Wall street, and down in D.C....
Silver is beautiful in its own right as well, but there just is something about gold, can't really put my finger on it....
Edited by Silverhawk74
11/30/2011 7:55 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
And one stands a chance to make a whole lot more money on say 500 to 1000 oz. of silver bought all in the low 30's, and sold perhaps when silver hits 75 for example. Yep, but at that point, we would all have to face THE question... which would be, "What's next for silver... $35, $100, or more?". Maybe the best thing to do there would be to hedge the bet by selling some to realize the profit but also keeping some in case it moves higher. The neat thing is to just have some options, which PM owners WILL have if hard times come upon us... and they just might. Those who do not have any PMs will also have choices to make but probably fewer of them. |
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Pillar of the Community
United States
2168 Posts |
I decided to pick up more Pm than I might have otherwise done in hopes of weathering the storm if our fiat $ collapses. It is a concern it if we ever have to use the Pm we may become a target of those without. I guess I can't worry about everything. This whole economy really has me worried. That coupled with the healthcare law that gives others too much say in our heath and that online is upsetting as well
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Valued Member
United States
421 Posts |
I agree angel its is a volatile world out there. With the euro bank issues and Greece and who knows where else is in problems. I agree with the flat dollar, weak economy, and the higher level of unemployment it amazes me that we can be afloat with all of this.
My hope is to be able to buy a few dollars 90% face value silver every other week or so. Don't have a big budget but if I does this wisely and don't move all in and have the market fall I should be able to still realize some profit of gains when/if I sell.
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Pillar of the Community
United States
2168 Posts |
Yes it seems many of us now buying PMs are not the wealthy just the 'little' people trying to make ourselves secure. I'm glad the shop I visit has no minimum purchases. I also search rolls. Free or should I say at face PM! I have searched about 5000 and got a roll out of it. Just some time and getting someone top pick them up and return the non PM !
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Pillar of the Community
United States
4008 Posts |
Quote:
It is a concern it if we ever have to use the Pm we may become a target of those without. I guess I can't worry about everything. Yes, indeed. History is filled with examples of people getting very aggressive, hostile, and even violent when they are physically threatened by a situation that is spinning out of control. Those who have planned for possible hard times will have some great resources on which to fall back. This is why a lot of us store extra food, water, medical supplies, and other useful items that might come in real handy someday. Those who do not prepare for hard times will 1st envy, then hate, and then attempt to steal the resources that others have as desperation overwhelms their better nature. The 1st line of defense, IMO, is anonymity. If no one knows that we have something that they do not, they are less likely to come to us to get it. Next would be a noisy dog. People looking to steal things do not want the attention that a barking dog brings to their activities, not to mention the possibility of getting bitten for their efforts. After that would be like-minded family, friends, and neighbors who are also prepared for hard times and who know us. They will be our brothers and sisters in adversity. After that comes our own personal ability to defend what we have, our place, and our family. The list goes on and on but this would be a pretty good start. Quote:
This whole economy really has me worried. Yes, a lot of us are worried about the economy and everything that is attached to it. We know that the Fed and the government is not telling us the truth about unemployment or inflation... and much else besides. This lack of faith in the American people is distressing to many of us. We're big boys and girls now and we CAN handle the truth. But we need to hear from our leaders that there are some very serious structural problems in our economic and financial systems that will only be resolved via doing some very hard work and making some hard choices. This old namby-pamby 'everything is ok, just keep chewing your Cud' nonsense is NOT helping. We need to be treated as intelligent adults, not sheep. This would do a lot to restore our faith in our system and our leaders. Until this happens, I don't see how our problems are going to be fixed. If we can't even talk about them honestly, how can we ever do the much more difficult job of fixing them? The one bright spot in all this, though, is that America is a VERY strong country. Many people have underestimated this nation and its people throughout our history. We come from good stock and we have the will, the strength, and the character to overcome almost any problem. Our economy is not as strong as it once was but that does not mean that we cannot fix it and make it much stronger than it is today. The question that lies before us is much more 'will we fix it?' and not 'can we fix it?'. All IMHO, of course.  For me, at least, my PMs exist in case of need. If we fix our economic problems, that would be excellent. PMs can still be a store of value and a defense against inflation. If we do not fix our economic problems, then that makes a PM supply a bit like having insurance. I do not expect to have an auto wreck because I drive defensively and carefully. I also do not expect my house to burn down. But I DO have insurance against such long-shot possibilities anyway. PMs are no different. |
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Pillar of the Community
United States
2168 Posts |
Yes I agree with you Ed. PMs are a store of wealth and retain their basic purchasing power over the years. I also think about everything that could go wrong. Murphy's law! Hopefully thing will settle down but with all the worlds currencies backed by nothing I wonder. I just wish I lived out in the country with a well, off grid and a wood/coal stove!
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Pillar of the Community
United States
3670 Posts |
I worry about false hope setting in, and every one starts to let their proverbial guard down so to speak, and pow, the kaka hits the fan....
Remember most time line theories are just speculation and in all likelihood are premature. Even though on the current course we are on, it seems to be a NOT IF BUT WHEN situation....
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Posted 11/29/2011 5:38 pm
