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Replies: 24 / Views: 5,803 |
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Pillar of the Community
United States
819 Posts |
I got into the stock market 27 years ago though my job. When the market crashed I bought more. Fast forward I will retire 11-1-17. Money will not be a problem. I now have over a million. Thanks stocks
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Pillar of the Community
United States
3343 Posts |
My dad spent 25 years buying modern US proof sets at exorbitant Mint premiums.
After he died I liquidated his stash. 90-95% of the ca $15,000 I got for my mom came from the gold coins. I took that lesson to heart. His gold was like a piggy bank.
While he could have invested more wisely he left something of value which was very easy to liquidate, and which he enjoyed acquiring.
I would advise buying old gold coins. Circulated pre 1933 US Eagles, British sovereigns and French/Swiss/Belgian 20F Napoleons. They should sell at a premium around 5-10% over melt. Don't try to market time it, just buy when you have the spare cash to get a piece. Get better dates if you can. They're all just bullion but rarity adds a little thrill to the hunt.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq 10/09/2017 10:46 pm
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New Member
United States
13 Posts |
I have to agree with the OP, my grandfather had millions in the stock market by the mid 2000's. He lost almost 60% of his money during the bailouts, and then still had the stock brokers hounding him to reinvest.
My dad lost his entire 401k overnight, around $100k. My family is stock paranoid at this point.
Edited by cerecords 10/10/2017 7:12 pm
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Valued Member
United States
411 Posts |
Thanks ,Libertad, you make better sense than anyone that I have talked to in the past on jewelry. thanks guys you all have me thinking down a different road.
I have around twenty gold rings , most with diamonds . I took some rings a year or so ago and he made me two half ounce nuggets that we made necklaces with.
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Pillar of the Community
United States
3789 Posts |
Chip Jones is a perfect example of how the stock market gives better returns, glad someone spoke up. Kudos and a hat tip to him.
Also, one of the reasons WHY we keep going higher in this market is because there are many skeptics out there versus those truly in the market.
this applies to both market professionals and your average mom and pop investor, sadly, BOTH have missed this entire run since 2008 and are about to miss as it really ramps up here.
Unfortunately what will happen, once again, is as this market ramps up towards the end, THEN the late comers will jump on aboard and about then is where things will fall apart.
Buying silver and gold as a main investment yields horrible returns. Banking on the end of the world, fiat currency, depressions and other disasters is a fools game. The market has come back each and every single time and will continue to do so.
but hey, whats that saying about leading a horse to water....
do yourself a favor and do NOT put all your money into gold and silver.
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New Member
United States
13 Posts |
There is always collectibles. I've invested in vintage music gear as a primary business, and done extremely well. It depends on your level of commitment. If you want to just throw money at something and let it sit for 30 years, stocks could probably make you money. It didn't for my family, it almost ruined us, and they weren't late comers. They trusted supposedly trustworthy organizations to manage their wealth. I would suggest extensive research before any investment, and personal oversight.
Edited by cerecords 10/11/2017 02:39 am
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Pillar of the Community
United States
3343 Posts |
My dad's entire estate was $7 million. The gold only amounted to 0.2% of the total.
However the gold was much more stable in value than his royalty trusts, which I also liquidated at close to the peak of the market. Within 6 months the trusts dropped 70-80% in value because of drops in the oil and natural gas prices that underpin their high yields. The conventional equities - including energy stocks - in his portfolio were much steadier than the trusts.
There was also a fair amount of real estate. As with the trusts, the value was fairly unstable, especially for raw land out in the boondocks. Land is valuable where people live, not where they don't.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq 10/11/2017 09:20 am
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Pillar of the Community
United States
3184 Posts |
If you want gold jewelry go to asia or middle east.......you can buy 22-24kt gold jewelry for close to spot price. In asia people look at jewelry as savings so its common to see people walk into a store, drop a necklace or ring, get it weighed and get paid on the spot if they need some money.
How do I know this? Ive been there and saw it first hand and bought some myself.
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Valued Member
 United States
65 Posts |
After another week of researching, and watching videos on the internet, I've come to the conclusion that silver is not something I wish to accumulate a large amount of. So silver is out, and I will have to think about some other form of precious metal investment, something that I can convert easily, if for some reason, the bottom falls out of the economy.
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Replies: 24 / Views: 5,803 |