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 Replies: 32 / Views: 3,393 |
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Valued Member
United States
59 Posts |
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Pillar of the Community
United States
3670 Posts |
Go for gold 97guns, why not 22k, man what a chunk of change! That stash of yours will definitley rival some small countrys now, lol....
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Valued Member
United States
458 Posts |
Danng you will HAVE to post pics when you finish buyin all that Gold and Silver.
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Valued Member
 United States
59 Posts |
my plan was to wait untill januaery 1st so I can have the tax witholdings for the 2012 tax year but with this downgrade I got scared and figure its better to be safe than sorry.
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Pillar of the Community
United States
1150 Posts |
I wouldn't be scared if I were you. I understand where you are coming from, though. Also, while gold is more stable, silver may have better returns. No one has a crystal ball...
I too am interested to see how the market reacts to the downgrade on Monday. Since PMs have dipped since Thursday, I would buy first thing Monday morning.
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Pillar of the Community
United States
860 Posts |
Watch the Asian market on our Sunday evening, their Monday Morning, before putting in your Monday order( I gather to a physical dealer). PMs may be up, or down :), but I suspect it will be more the Europeans problems than our debt rating ( unless it is revoked by S&P as reported).
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Valued Member
United States
304 Posts |
Quote:
No one has a crystal ball... But MSNBC has Krystal Ball! |
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Bedrock of the Community
United States
14454 Posts |
I am not sure if I would wait until the 1st of the year to get into the metals market or not. it is down right now but not sure how long it will stay that way with the market doing what its doing right now. you definitely aren't the only one that is seeing the problem and going to diversify their portfolio like you are doing here so if that does happen the metals market may go back up rather quickly
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Valued Member
United States
59 Posts |
i was going to wait untill january for tax implications, I'm already in metals, this will just be topping off the tank.
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Bedrock of the Community
United States
14454 Posts |
oh ok I understand now, sorry for the mixup. I was just thinking it may be so high by the first of the year I don't know if I could advise anyone to start buying into metals at that point
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Pillar of the Community
United States
648 Posts |
Nice - 22k? I would buy 80% gold 20% silver if this is just topping off the tank, or also icing on the cake ;)
I will have a similar "problem" by the end of this month with around 20-25k. I will probably split it 50/50 with silver and gold this time. Last time I bought a lot more silver than gold.
2k an oz for gold is not a matter of how, but when. IMO .
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Pillar of the Community
United States
931 Posts |
A lot of people are opposed to cashing in a 401K, but I agree with your move. The 10% early withdrawal penalty ( assuming that you are not 59-1/2 YO ) comes out of employer contributions the way I see it. It's hard telling how they are going to screw with 401ks in the future, so I put My cash in My hands. I currently have around 10k in precious metals and 30k cash in my play money. I may go look at some local gold this afternoon. I bought a beautiful 2009 Buffalo Proof from an antique dealer in town. He has a few four coin gold sets and a 2008 08-08-2008 prosperity set with a 2008 half ounce Burnished Gold Buffalo, but I think I want to get closer to current melt value with my purchases. Anyway, it's time for a few more ounces I believe.
Edited by junior e
08/06/2011 09:39 am
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Valued Member
United States
59 Posts |
i wont have my cash untill tuesday but even if I had it right now I would wait untill monday to see whats gonna happen. im buying on ebay over the weekend, just small amounts so I dont go into a withdrawl |
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Pillar of the Community
United States
759 Posts |
Lots of tax implications to this one (potential estimated payments and 28% cap gains rate to name 2 beyond the penalty). Good luck.
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Valued Member
United States
59 Posts |
i have tax shelters in place but like I said I really could have used it next year.
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Pillar of the Community
United States
4008 Posts |
$20-25k IS a fair chunk of change to convert to PMs, for sure. Am in a similar position with about $62k. Just ordered 20 5-oz. silver bars, 10 from Provident and 10 from SilverTowne. Will order more in a week or so. Would like to get some gold but the cost / oz. seems to get more and more out of whack with reality. Or, maybe it is just the new reality these days?  |
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Replies: 32 / Views: 3,393 |
Posted 08/05/2011 11:52 pm
