The year was 97, i was 27 and gold was at $280.00 per oz thereabouts. Driving to work i would think to myself ' i should buy an oz each pay', payday came, drinking,women,partying etc etc life was good,plenty of cash, would burn through it all and have nothing to show for it. Driving to work the next week, again hear the price of gold and think to myself 'i should buy an once of gold each pay', payday again came and went many times and i never bought gold. Silver is still within reach, this lesson learned is a lesson to share.
I hear you iceblue.. same story here for me, found it too easy to get distracted with 'pleasures' of life and just think short term only. All good now though.. making up for lost time.
Nice to know iam not the only one! Trouble now is buying silver has become an untamed monster! The wife had to trade 4oz of silver for a large whip to keep me at bay!
Let's see. 97 to 11 = 14yrs. Assuming an ounce of gold remained obtainable every pay (unlikely for most), and assuming you are paid fortnightly, thats 26x14=364, plus an ounce or 2 every time you got your tax return, lets say 390oz altogether, or 12.129kg. You would be the proud owner of gold with a spot value of $675,595.57, or $736,900.62 if you'd sold in August.
A monthly target is much more feasible for most people - but yes - you're absolutely right... like why didn't I pick up Apple stock when it was $25?!? Hindsight is a wonderful thing. And there's a great future in NOSTALGIA... (if you get what I mean here that's really a wink to be selective at what you buy today, with an eye on the fast-encroaching horizon of retirement, pipe & slippers, zimmer frame & wild hot tub sex parties at Hef's mansion in LA - sorry - scrub that bit - that's MY destiny (!) (I wish!) x
You could only estimate it, as gold price has fluctuated throughout that period and no one if going to take the time to work out exact figures Or are they Hahaha
maybe the average roughly over the last 14yrs X however many paydays. although if gold is $1500 oz I'm not sure many could afford an oz every payday!
I think the average a few years back would have been between $200-350? The moral of the story, is to be staying constant with a plan to invest for the future while young. Gold isn't really a buy each pay, but silver is! I am 25 and spend every spare dollar on Silver and Gold where possible and hope to learn from these good lessons!
Now that's the sh*t i want to see .. pretty good savings plan if you ask me. Lets hope it stays on the same trajectory as is has over the past decade.(hope being the key word) Stay focused, disciplined and dedicated people.
Put it this way, it still could have gone the other way (downwards), and in that year it was showing non signs of growth, right? What I want to know is who made you start thinking about gold? None of my friends know the first thing about precious metals, so what was the trigger to make you think about gold back then? I can attest to YouTube helping me the most
It was at a time when gold was around $300 and below for around two years. At the time i was single and earning a good wage. At that time Australian Gold Refinery in Bundoora closed down,closely followed by Johnson Matthey in Thomastown. Gold was so low it sent them out of Business.
Im 21 and started buying some silver and im up to 220oz and i got like 5 dragon Proof coins gota love the price of silver atm Its going to be a loan term investment atm because i cant afford to buy a house so this will be my investment
Ah 1997....just got my N64 *sniff*...life was so easy back then. We were playing GOLDEN eye non stop.....should of seen the signs. Too bad my eyes were closed.
Ha ha so was I! Golden eye. Get that golden gun and you were king in 4 player mode. Good times fighting over the controllers
Well technically it was $280 USD but more like $400 in AUD, but the message still holds. To contrast, in 1997 a house that cost 200 grand is now worth > $1 million - so which was a better buy ?? I think the more important message is: DON'T BLOW ALL YOUR WAGES ON BOOZE/WOMEN/CARS/CRAP
