I took all my money out of Bank of America and put it in a local credit union. I have had the same financial advisor for years, but he is still asleep. I have tried to talk to him about the CBDC and he calls it "cryptocurrency" and says that its on "blockchain." That isnt true. So, I am sitting on a 1/4 million $ and cant get anyone to call me back. Ive tried Noble Gold and Gold Busters and Goldco. Im not interested in a MLM nor do i want to collect coins. I need a Fren who is in the business of what i need help with. Please.
Comments (31)
sorted by:
You need to buy things that are REAL. And you need to HOLD THEM, otherwise you don't OWN THEM.
If you're all stocked up on cars, houses, property etc., you should either get some rural land or precious metals. And I recommend a 75:1 price ratio, Silver:Gold. For every 75 ounces of silver, get an ounce of gold. This is roughly the current price ratio and the strategy most professional precious metals buyers use.
For many years I would have told you to buy American Silver Eagles (ASEs) or Constitutional "Junk" Pre-1964 dimes, quarters and half dollars. But this is the high quality preferred silver in the US and the premiums for both are ludicrous.
As such, silver rounds and 10-100oz bars are the way to go having the lowest premiums, by far, enabling you to get the most silver for your money.
As to gold, if you're in the USA, the premiums on American Gold Eagles (AGEs) and American Gold Buffaloes are within reason to other gold products so I'd stick with these "Legal Tender" coins in the US.
The 3 most reputable bullions dealers in the US are SD Bullion, APMEX and JM Bullion. I would highly recommend SD as they're the only big name player that does not hedge their customer purchases on the COMEX, pushing prices down. Plus, they usually have the most affordable prices on any given day.
https://sdbullion.com/silver/silver-rounds/1-oz-silver-rounds https://sdbullion.com/silver/silver-bars/100-oz-silver-bars (I like the RCM bar as its made by the Canadian sovereign mint. Carries a bit of a premium but probably worth it)
https://sdbullion.com/gold/american-gold-eagle-coins/1-oz-gold-eagle-coins
Stear clear of those guys advertising on TV. Their prices are always way higher than the online bullion dealers and they rip you off with various commission fees and such too.
Net-Net, with $250K you should be looking at roughly 4000-4500 ounces of silver and 60-70 ounces of gold.
Hope this helps.
Thanks for this info. I just whipped out the calculator and it looks like I'm at 85:1, so a little more sliver biased, but not too far off your guideline.
That's totally fine, as long as you're in the neighborhood. The ratio has been bouncing between 70:1 & 90:1 the past few years. It's like 78:1 today, so in this ballpark is ideal. You're on solid footing fellow stacker!
I collect physical specie. All the markets are fucked, my dude. If you can’t see it with your own eyes you don’t know if it exists or not.
I would look for something with no third party risk.
That would be gold or silver.
Yes it's not as easy,but good things never are.....
Try Money Metals Exchange?
I shall
The ones ive tried are too busy to call me back...been days
Yep. And when real estate prices tank you can pick up land for next to nothing. A 40 acre plot my friend bought for 400k sold for 2 million. They will be back to normal soon.
The good thing about land is you pay little in taxes for unimproved land.
something else to consider.....I don't know your specific situation, but understand that any transaction of 10k or more will be reported to Treas. Use several dealers, including local, over several months if you want to retain privacy
Thanks. So and I mean this question honestly....isn't the Treasury the bad guys? Do we still have to be afraid of the IRS?
These laws are on the books to watch for money laundering. But as all govt operations, it can be turned against the citizenry. For me, it is worth the extra work load to spread out the purchases in order to preserve privacy. I don't know what WILL happen, but I know, based on history, what COULD happen. Don't want the Govt to have a list of my PM holdings - or weapons, or food, or....
Your QM could be the difference for survival or the can fir any number of struggling entry level financial advisors... You could actually wake some mfrs by just getting them to meet with you and telling them what you want and why.. Their office manager will pressure them to pressure you to get into managed funds.... But if you state your investment criteria unequivocally from the get go they have to do what you say... Especially if your account is the only thing keeping them employed...
with everything going on in the world right this minute, my thought would be to leave it right where it is, for the short term, till you see how everything lines up in what many think will be a totally new economy...with Trump at the helm, my thoughts are that he will not let us little guys suffer our lifetime of work going down the tubes...just my thoughts, silver is great to keep on-hand also...overall, i agree with the tired ol' hooker," honey, I believe i'll just set on it for a while"...good luck!
Put it all on red.
Have you looked at an IRA LLC ? I took all of my funds out of my 401K and redirected the funds into a self directed managed account. You will need to work with a custodian IRA LLC agency that sets up the account for taxes and helps you create an IRA LLC Business for you that you can write business check out of to acquire assets. (Basically you can buy gold coins and hold them or buy land and improve it or a number of other opportunities.)
Are IRAs used to invest in the stock exchange? Isn't that going south? Do I have to be afraid if te IRS?
An IRA (Investment Retirement Account) is your way of directing your 401K money. If you are still working for a company it is difficult to go the IRA LLC route as you are participating in their 401K offering where you pretty much have to use their program as they also contribute into your 401K. However if you have left the company all the 401K money that you have in the fund can be redirected either into a new company's 401K program or you can self direct it and manage it yourself. I originally had mine in a fidelity IRA account after leaving my job, but when I saw what was happening in the stock market and all of the Woke companies that i did not want to invest in, I found out about the IRA LLC account and moved my money there. I love it as my portfolio has increased (not decreased like most still invested in the stock market.) I invested in land in Idaho which has gone up in value by 50% as everyone is fleeing the liberal states for conservative states. Of course I am sure that Biden's puppet masters will try and figure out a way to nix the program, which they tried with the Build Back Better program. They actually had a provision to eliminate the IRA LLC Program, but it did not make it. I am sure they will try again though, but the way things are going maybe not.
I appreciate the in-depth information. Thank you
Your most welcome!
$250k is enough to start a business.
Start growing your wealth rather than using it to grow other people's wealth.
I wish that was possible, but I take care of my disabled sister full time. She is vaxx injured
Are you getting paid to do it?
No. Her husband died six weeks ago from the jab..I'm having to do all the probate stuff for her. So ...paid... Paid by? Not sure how I would be getting paid...good question
If you're not getting paid to care for someone, then you're paying yourself.
It's time to wake up and figure put what you should be doing with your time and money.
Caring for people who blindly follow medical advice from a system clearly designed to exploit them is ridiculous.
That's not a helpful reply, but thanks anyway. I care about my sister.
Patriot Gold is where I put mine. They are part of Mammoth Nation
Put some of your money into Rubles. Seriously. The Ruble has gained more than 20% in the last 6 months.
Dabbling in FX is a hobby not a plan.... FX is risky unless you kniw what you are doing even in stable times.... Unless you have better than average information....
Sure, and agreed. I am just adding what has been happening in FX recently.