I know its probably different for everyone. For me, I don't have much so I'm hoping spot will stay down long enough for me to build a decent stack. So the question is, how many ounces do you need to own before you stop wishing spot would stay low and start wishing that spot would go to the moon. Is it 100oz, 500oz, 1000oz, 5000oz, 10000oz?
You can never have enough silver. The more you buy, the more you have. The more you've bought, the less money you have wasted on non-essentials. The bigger the stack, the more security you have and want. You maintain your buying strategy until it reaches a point that you are independently wealthy in silver and the concept of a fiat spot price is purely academic. If it stays $21 for the next 50 years, it shouldn't matter.
Your stack can't put food on your table or pay your bills, nor does it pay you dividend or generate income for you. So either you die with your stack leaving it to someone else, or else at some point you have to convert it to fiat to use it in the real world. With hindsight it indeed matters if it stayed at $21 for 50 years, because in that case you would have pissed away a massive amount of compounded interest and your stack is worth very little in the real world.
I personally want to have 500 ounces at least. I've been trying to meet a yearly goal in order to achieve that long term goal but it's hard! Although I will admit I'm (we) are better off than the majority of people. Some silver is better than no silver.
The stack is not meant to pay bills, pay a dividend or generate income. It is only meant to be sold down when needed. I am not advocating silver as an investment, I am a stacker. I earn my money from my job. Spare money goes into the stack. The stack grows. The stack is a stack, no more, no less. Read the name of the forum!
Index Silver At what point would you be happy to see spot go up? Exactly, .... right now, straight to go ! Great fun stacking though. I reckon you can use it as a perfect storage for cash. I see a lot of people, laying it on the line to , buy a bike, go on a trip, pay bills. never have too much really !
If you've acquired all of your stack at current spot levels then if/when it reaches $40 you might feel it's time to liquidate. It doesn't mean you've maxed out the amount of silver you wished to purchase, but rather you're carefully choosing when to buy and when to sale. If spot dropped again you'd probably get back into stacking again. It really comes down to your own personal dollar cost average.
Dollar cost average, that's right. So if your average is high, then now is a fantastic time to get it down. And if it is high, then at some stage it would have also been a bargain, so no reason to not buy at your original price. That's my psychy at the moment which keeps me stacking. I can buy up to 28$/oz, at the moment with today's price, and level out at the original price I bought in, cost average. So there's heaps to choose from !
50000+ and then things can start to go up. At that stage i will no longer be flipping silver and gold. At that stage i will be retired and using those oz's to buy other cool stuff that takes my fancy. I will most likely still be a collector at that point so i may use them to buy higher end coins i didnt want to use money for in my youth. All going well itll be free money for us in the later years and we will be living of our retirement savings and the silver and gold will just be cream!!!!!! Or so the theory goes
A stack silver is, just like dollars, a means to put food on the table and pay the bills. A massive amount of compounded interest goes together with an even higher amount of lost purchasing power. Money, is a real thing in a real world, and silver, and any other asset used for that role, is just an example. Whether the choice of money is good or not, just depends on what you paid for it when you bought it, and what you get for it when you sell it. A good, and a bad decision, are both possible, and can happen in any choice of money. If that wasn't obvious. As sammysilver says, asking how much ounces one should have before this or that, is just useless, it's like asking how much money someone wants to have. An obvious answer is as much as one can get. Money is a means to welfare. Charity also possible.
In a dream world, I would just start having objects in my house that are tons of silver. I only have 200 oz stored right now for a rainy day. Realistically, I'd suffice with 20,000 oz.
This thread makes me giggle, it's got a combo of it all. - Like it matters whether one hopes it goes up or down. I wish this, I wish that. - I measure my wealth in oz, not $, so spot does not matter - Silver is not an investment - it's insurance - Silver is money I would have spend otherwise - To the moon!