What POS is required for you to be debt free?

Discussion in 'Silver' started by Lunartic, Apr 6, 2011.

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  1. Lunartic

    Lunartic Member Silver Stacker

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    Another day dreaming thread

    Based on your current stack, what POS would you need in order to pay off your primary residence?

    For me, it would be $422/oz

    So still a little while to go yet.. :eek: :eek:
     
    Lunartic, Apr 6, 2011
    #1
  2. millededge

    millededge Active Member

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    I have no debt, but a few years ago my calculation was to flag a POS of 600 aud, but then fiat is pretty meaningless
     
    millededge, Apr 6, 2011
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  3. thatguy

    thatguy Active Member

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    Same here, my issue is if it gets that high will being debt free be enough...
     
    thatguy, Apr 6, 2011
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  4. Ernster

    Ernster New Member

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    Unless house prices do crash, I'd need about 3000oz to buy a home outright if silver is at 100oz.

    Kinda depressing in a way and impossible for me.

    My goal is to just invest and put together as big deposit as possible so my monthly repayments when I do buy a house are "comfortable".
     
    Ernster, Apr 6, 2011
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  5. silverfunk

    silverfunk Active Member

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    If I sold 1/2 my stack now id be debt free on my PPOR, but I believe in silver and its rising price so for the time being more than happy to keep paying off the loan each month which isn't too much.
     
    silverfunk, Apr 6, 2011
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  6. Turk

    Turk Active Member

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    That's a good point silverfunk that some people may not have realized.

    There is no point paying off an 8% mortgage with silver that is growing at 70% per annum. Just pay the minimum per month on the house and keep the stack growing.
     
    Turk, Apr 6, 2011
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  7. Slam

    Slam Well-Known Member Silver Stacker

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    I come up with a similar price. But I guess it will only be portion of my stack, the stuff I'm willing to part with.

    Slam
     
    Slam, Apr 6, 2011
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  8. Lunartic

    Lunartic Member Silver Stacker

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    No one's going to force you to sell, but its a nice price point to make note of :D
     
    Lunartic, Apr 6, 2011
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  9. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    If someone put that P.O.S. Jamie Dimon in jail I may consider it safe enough to sell my silver :D
     
    Clawhammer, Apr 6, 2011
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  10. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    +70%pa
    :D
     
    THUCYDIDES79, Apr 6, 2011
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  11. Guest

    Guest Guest

    What debt?
     
    Guest, Apr 6, 2011
    #11
  12. Contrarian

    Contrarian New Member

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    A POS of $300 would get me out of debt.

    But this has absolutely no relevance to anything.


    C
     
    Contrarian, Apr 6, 2011
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  13. Haggai 2:8

    Haggai 2:8 Member

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    $560 silver if gold was not going to move from its current position.
     
    Haggai 2:8, Apr 6, 2011
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  14. Stedlar

    Stedlar Active Member

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    Your future housing cost debt. You will always need somewhere to live, and that somewhere comes at a cost. You have chosen to pay that cost in instalments called rent. You are not debt free until you have funds sufficient at hand to cover your future cost of housing.
     
    Stedlar, Apr 6, 2011
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  15. Dwayne

    Dwayne New Member

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    Does that include the NPV of future insurance costs, rates, estimated repair bills, maintenance etc? I suspect that most people in this thread would need to go back to their calculators if it does...
     
    Dwayne, Apr 6, 2011
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  16. zurnaik

    zurnaik Member

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    "There are levels of survival we are willing to accept" :p
     
    zurnaik, Apr 7, 2011
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  17. Stedlar

    Stedlar Active Member

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    If you want to be real with yourself, then you should consider any non discretionary expenses as debt to be paid.
     
    Stedlar, Apr 7, 2011
    #17
  18. Peekay

    Peekay Member

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    $2700 :|
     
    Peekay, Apr 7, 2011
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  19. boston

    boston Well-Known Member Silver Stacker

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    $0.00 :D
     
    boston, Apr 7, 2011
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  20. renovator

    renovator Well-Known Member

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    +1 I hope we dont get chastised for skyting
     
    renovator, Apr 7, 2011
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