That goes something like this.... Once upon a time there was a savy new investor who after careful research and DD decided to put his SMSF into silver... it then grew and grew and grew and they all lived happily ever after. Sigh... bought in high, and now with talk of it tanking, seems I should have left it in the bank... Shiny.
Were you planning on retiring this year???? If you were not then don't fret. You may not have noticed, but shares have not done to well either. Give it time to mature, you were unlucky enough to become wise just before a fall in price. Hold fast and steady the course. I am of the belief that you won't regret it, unless you opt out now.
Well thanks fellow SS, not considering leaving anytime soon and fortunately my DW is 100% supportive of staying the course too.... sometimes get a little down... I even bought my first 2 oz of gold and the NEXT DAY it fell down $40 per oz.... no biggy, but seems to be my trend! Shiny
that's buying for ya... every time I buy it tanks, I should set up a trading account and short myself as a hedge (sorta like a credit default swap )
A bedtime story: Once upon a time, there was a guy who looked at the world and bought metal. He lived his life and he rolled the dice. His neighbour just did what everyone else did and he never thought for himself or took any chances. Really, the price of metal is irrelevant to this bedtime story.
Don't worry shiny I set up a SMSF last year too on the way up. But j still have 10 years to go so I'll still buy average it down. Just hope the popular quote "to daaaa moon happens in about 5 years time
Don't worry metal prices fluctuate all the time. You need a strong stomach for this game. It takes time and patience as does anything in life that's worth doing.
Wise words..... I got into physical after my long spreadbet on Gold got closed out in September for a tidy loss.... well lets say it really really hurt ! I was very new to the manipulation of the markets and it is only when a friend back in the UK showed me that the tanking was due to the CME hiking margins that I began to get it..... he then pulled out a 1 ounce gold coin from his wallet and explained that it didn't matter what they did to the daily price he still had his physical.... OK, then I really began to get it.... and I've been stacking from that day since. No more dreading the email update from the spreadbet firm to tell me I have lost more money..... I just take a look at my shiney stuff and I feel better, regardless of the spot price on the day. Thanks to all for your input on this forum.
Once upon a time there was several rich gold miners who had made their fortunes and were leaving Australia to return to the motherland to spend their hard won treasure. They traveled 1st class of course on the best clipper and had the best cabins. They all wore money belts which never left their bodies on the way home..It was very heavy but they dare not let the gold leave their person for fear of thievery. The nearly made it to the port of London when a huge storm blew up and eventually the captain gave the order to abandon ship. They were in sight of land and so the passengers and crew lined up and soon many were taking the plunge and swimming for the land and safety. Now what did the men with the gold do..Did they throw away their gold..No, they couldn't do that. They jumped in too but the weight of the gold sent them straight to the bottom.. Oh my god, Ive just thrown all my silver out the window, a nightmare perhaps? Regards Errol 43
Relax, I had my superfund managed by experts in their field and they managed to lose most of it, still, why worry? It's not their money. I am going to do what you have done, set up a SMSF and fill it up with gold and silver, if it goes down then at least it is me frittering away my money and not someone else. Also if you are putting Gold and Silver into your SMSF then that means you don't have to use your "own" money to scratch that precious metal itch. I will be buying even more silver than I am now and I will have more money left over at the end of the month, when I will probably buy some more. Oh yes.... THE END
