Then we will have to change the name of this site. Given our collective ounces we will own half of Australia.
At that rate of exchange I think I'll use my stack to buy Haiti. 5,000 ounces is my idea of the type of stack to assemble before retirement.
Not sure about silver, but a "minimum" good sized gold stack would be 1oz for every month you plan to spend in retirement. This assumes you've managed to acquire a PPOR along the way owned outright. So if you plan at retiring at 65, and expect to live to 90, better start stacking those 300oz of gold now. Assuming a 45 year working career, for many people that's a very realistic stacking target of 6.67oz per year - basically 1/2oz a month into retirement savings. For many other people, it's an exorbinant amount :/ At the current GSR, that's 15,000oz of silver... numbers get even scarier when you look at your current age, and work out how many oz/month you need to save to reach that goal. I'm in the 1oz/gold/month range as a savings target already to catch up. Currently that's not happening.
Thats a realistic amount to live on as long as gold doesnt take a nose dive compared to the cost of living.
Agreed. A diversified portfolio is important especially one that provides an income stream. An income stream means more fiat for stacking and everyday expenses, instead of slowly selling your gold to provide for living expenses. I'd be very weary of relying solely on PMs for retirement as one cannot predict future prices (20-30 years down the track) with 100% accuracy.
I'm not going to have much more than 400 ounces by the time it's too expensive to stack. I'm pretty happy with that amount.
That's actually a bloody good idea GP. I never really thought about it in this context, but I think you're bang on. I know I'm unofficially lurking nowadays, but I definitely wanted to post a thumbs up for that idea. I will very unlikely ever hit such a target, but it IS a target. Me likey a lot. For those focused on silver/gold for SHTF, just bear in mind that today for 1oz of Silver you can buy about 20kg of rice. So no matter how 'bad' it gets, you can (in the worst possible circumstances) get by on a lot less than the amounts thrown around here.
Whittling away your capital to derive an income? Think I'll keep the PM's as a hedge and let my properties generate the income. C
I should clarify, the properties that I allude to are yet to be purchased. Gold is in a bull market cycle, property is going down the gurgler. If you've given up on property and moved on then you're moving the wrong way. C
Assuming inflation moves up in proportion, a $6,000 per month passive income will give you a decent life/retirement (today's dollar) Putting that in real estate terms, you need to generate $1384.62 per week in rental income. Assuming a standard 8% property management rate, that translates to $1495.38 per week. In today's dollar, that also translates to an investment portfolio of $1,495,380 (~1.5 mil) owned outright, excluding PPOR. In today's silver price (@ $31.19/oz) you need 47,944 oz to make that happen. @ $100/oz, you need 14,953 oz @ $200/oz, you need 7,476 oz @ $500/oz, you need 2,990 oz @ $1,000/oz, you need 1,495 oz Assuming silver goes hyperbolic without the world economy going into hyperinflation in proportion. Too many assumptions I know. But just some numbers to work with. Revlisify
My plan is to bury the shiney deep then drop in the harness . No need to worry about enough retirement funds
Just don't forget to convert your silver into income producing property so you're not going backwards every month in retirement. C
