In light of recent events that are occurring domestically as well as globally, I went to my financial advisor last month and cashed out all but one of my various IRA's, All mutual funds, Annuities, matured CD's, and bonds to purchase AND possess more tangible assets such as Physical PM's.
I just knew my advisor was going to strongly disagree and try and talk me out of doing it, but he told me that as long I left at least one 403b for him to micromanage, it would be a good idea, as long as I had a place to securely store it and knew the risks of owning that much PM and of course the early withdrawal penalties I would have to pay. Ouch!
But here is my thinking, WTSHF (Which I believe is imminent) and the fiat$ implodes, it's not going to be a gradual decline.
History has been known to repeat itself, and I believe that people are going to wake up one morning in the near future, to discover that their life savings, which is made up of binary code transcribed onto monthly or quarterly statements that are stored in a box in their closet will become their tangible assets!
And yes,it pains me that I lost a substantial amount of money in early withdrawal fees, penalties and taxes.
But I feel that, by personally holding real, tangible assets such as PM's, puts me in a much better position to support and protect my family in the event of a global financial catastrophe.
In the event of a financial catastrophe, do you really think you will be able to take your gold and silver certificates that state you own X amount of ounces and successfully redeem them for actual ounces of physical gold and silver from a clearing house that is already years, if not decades behind on clearing sell/stop orders? Maybe?
I do not regret doing it one bit.
For me it was a no brainer.....
X amount of $'s - approx. 20% = SOMETHING!

Zero amount of $'s - 20% = NOTHING!!

Therefore I am stacking .999 silver in 1/10 oz rounds to kilo bars.
And all the 90% I can find! ($2000 face so far)
I'm stacking gold mostly in 1/10, 1/4, & 1/2 oz. AE's, .9999 1 oz. Buffalo's and pre 1900 $20 Double Eagles that I have been able to purchase close to spot.
I also snagged a few 1 oz. PE's to diversify my new "portfolio" as well as the tons of pre '82 copper LC's I have acquired over the years.
I have also splurged on a few coins of greater numismatic vs. intrinsic value, just because I've always dreamed of owning them since I started collecting.
1995-W 10th Anniversary Eagle Proof Set in OMP (Raw)
1937-D 3-Legged
Buffalo nickel PCGS MS62
1942/1 Mecury Dime PCGS MS63 FB
1909-S VDB PCGS MS65 RD
1955 DDO-001
Wheat penny PCGS MS64 RD
1838-C Classic Head $2.5 PCGS XF45
I've also been filling those pesky holes in my numerous Dansco Albums which has given me a great deal of satisfaction and a sense of accomplishment that all the gold and silver combined couldn't give me!
For me it has been the best "Mid-life Crisis" I could possibly experience!
IMHO........
There is not a better way to spend your hard earned money, than on PM coins that have and always will have guaranteed purchasing power!
End rant..............