What is the end goal?

[LongScottSilver]

Thanks for all the responses people. 

Regarding people selling their bullion to convert their stack or part of it into cash. Do people on here ever sell to each other for a quick sale, no ebay fees etc. It seems a sensible option if someone needed cash as other stackers always want to increase their stack.

I am based in the Midlands, near West Bromwich if anyone is local and looking to sell some of their stack without incurring ebay fees and postage costs. PM me and we can talk
I intend to invest equally in silver and gold. 

What are PMs? This (acronym?) has been mentioned 3/4 times in the responses. 

 

Thanks again.

 

[HelpingHands]

PMs = precious metals

And yes, we have a trade section here.

http://thesilverforum.com/forum/13-uk-europe/

[LongScottSilver]

3 minutes ago, HelpingHands said:

PMs = precious metals

And yes, we have a trade section here.

http://thesilverforum.com/forum/13-uk-europe/

Much appreciated

[vand]

Should also be pointed out that those of us who believe in "doomsday insurance" are also happy if the end goal never arrives, for it will mean great social and economic upheaval - the same as being "happy" that you never have to make a claim on your health/life assurance.

[SilvergunSuperman]

I got into gold & silver about 18 months ago mainly just to diversify my savings & investments. There's also the insurance against future inflation, and the chance of making a profit if spot price rises significantly, but these factors are secondary. From what I researched before buying into PMs, I judged the likelihood of the price rising long-term to be greater than the risk of it plummeting, so I feel comfortable spending my cash on it at current prices.

To add to any financial benefits I must admit it's quite satisfying to hold a nice piece of gold or silver in the hand, whether it be a beautiful coin or a heavy lump of bullion.

Other than my fiancée and some immediate family, no-one knows about my stacking activities and I think most of my friends would think it was a very random thing to be into. It's funny how people's attitudes toward money can be so different. I play football a couple of times a week and looking around the car park when we're all arriving I sometimes wonder why I turned out so different. They all drive nice shiny new cars which they no doubt pay £300+ a month for, while I turn up in my 25 year old 4x4 and spend about £300 a month on gold & silver.

[ikeonet1]

End goal for me is part savings, part investment, part legacy, part hobby, and part insurance. End goal is to have more than I started with and if I get into any trouble some bars are right ready to help me to whatever it is I need to do, start a business, buy a house, buy some stocks, leave some as legacy/inheritance, pay some bills, whatevers. The end goal is the Flexibility to do what I want, whenever that might be.   

[SilverPirate]

On 3/3/2016 at 23:03, walesdave said:

 

I stack to save! (Got to get that engraved on a silver button!!)

 

Silverstan would provide that service.

[SilverPirate]

At the moment my end game is a legacy to my Grandchildren, but if i live to an old age and run out of money i have something to fall back on.If i break even at the end of it i will be happy ,as i will of spent the money on some thing else that slipped through my fingers instead.If it went to the moon i would be tempted and re-buy on the fall back to earth.

In our lives there are only so many pound coins that cross our palms, its how many we can hold onto in that time period.

[whitesands1]

I like this forum because no-one is greedy.  It seems that we all pay a bit more to buy SIlver in the UK but get satisfaction out of what we buy.  Some like to hoard, some like to collect, some (like me) are not certain what we are really doing!

If there is a price rise great!  If there is another big hike soon, we will all be thinking do we sell, as how easy will it be to buy in the future?

Above all what you see is what you get with Silver and Gold - it is becoming more and more difficult for the "money men" to control anything other than paper and derived markets and even these are getting out of control.

Keep stacking!

[ApisMellifera]

My goal is to have a secure amount, for that rainy day . That amount will be parked in various nest eggs, such as gold/silver and/or other productive assets/businesses.

 

My aim is to have at least 6 months of living expenses that is accessible and readily available. Once I’m over that, I allow myself to use the stack for other assets/investments. I’ve been through a rough patch and had nothing saved up. So I've learned a lesson the hard way.

 

I was also a terrible saver and was also lured by consuming with credit cards! PM is changing my mind-set to save, teaching me that savings works in my favour and buying on credit ‘to consume’ works against me. (Obviously). However I will use credit to purchase things/services that will be productive for me.

 

For now I think PM is the most straightforward investment, but continue to do homework/research to make sure not to buy fakes or equivalent.

 

My stacking plan is to stack silver bullion because it’s affordable for me at the moment and I think the GSR is in favour for silver. I do prefer gold at the end of the day so I am also looking to stack 1/10 and ¼ fractional gold, and sov’s.

 

I will convert both silver and fractionals to gold larger coins/bars to save space once I’ve accumulated more.

 

Conversion plan is:

• Once silver stack reaches 150oz I will convert that to a 1oz gold bar/coin depending on GSR, and then repeat.

• Once gold stack reaches 10oz; convert 5oz to 1oz or 2oz bars/coins and then repeat.

 

Will buy numi’s every now and then but only for designs that I really like. So that I don’t get bored looking of the same thing. Lol.

 

I also think I need to create a ‘how-to-document’ for my will/inheritance for wifey or future kids to make sure the stack won’t get flogged at a pawn shop or e-bay at a terrible rate or at least to teach them to continue the stack.

 

On the flipside.... My first major goal is a recording studio with a nice green garden! I love music and fresh air, that is one of my dream goal...  Is that possible in London? Maybe ? Maybe not?… Let’s see what the future brings…

 

That’s my plan for now. I know I need to do some course corrections along the way.