Okay so I have $5300 in a 401k that I plan on withdrawing..after the fees and penalties I should get around $3500. I'm planning a trip to Vegas in the 2nd week of March, and wanted to use that money for the trip, but cant decide if I should save it as fiat until then or buy silver with the intent to sell at the end of February. If I buy now, I'd be starting in the red, waiting for spot price to go up a few dollars before I'm even breaking even, though if spot goes to 40 or above I'd have more money for Vegas. Then if I decide to buy now, there's the question of what kind of silver and who from? I live in the states, so probably ASEs, but I'd like to hear thoughts on it from anyone who has thoughts to offer
Yes, this is true, but I've never been to Vegas..so that decision is final haha. Just cant decide on what to do with the fiat for now..
what you are asking is: "Should I gamble in Vegas or should I gamble now?" Depends. How do you prefer to lose money? "We give advice, but we cannot give the wisdom to profit by it." -Francois de la Rochefoucauld
Covert half to US$ now when the exchange is up over 1.05 this morning, hedge your currency conversion, i wouldnt bother trading fiat for bullion if its short term.. not worth the hassle but theres always the potential for a massive spike (who knows right) 1for1
I wouldn't stack on silver/gold just for 2months and expect to make a kill. Unless you can buy metals less than spot. Better off putting in on high interest account...not too sure whats the interest rate over there.
Either buy silver (advised) and cancel Vegas !! (Sorry but best advice for the long term) or just keep the cash until Vegas and have good time and memories but empty pockets . Silver all the way I'm addicted to it and most of my spare cash is spent on it , otherwise I would be buying mostly rubbish with it and know long term myself and my family will do ok.
$1800 in fees and penalties - WOW Without knowing what type of investment you have your 401K in. Just increase your credit card limt or apply for a personal loan ....... pay it off when your investment full due. Sounds a lot cheaper than losing $1800 for a $3500 trip..... IMO very unlikely that you will make any real money investing $3500 in silver over a three month period .... Unless your able to pick up some 2oz and 5oz lunar bullion mouses at spot (series 2) .....then you will make a sh_t load of money PS: Have a great trip
Go to the Stratosphere in Vegas and make 1 bet, all on Odds. Stratosphere is the only casino I know in the US where roulette has only 1 zero on the table, everywhere else has 2 zeros giving the house better odds.
going on the fact that the BASIL bankers meeting wants the world banks to move gold from a tier 3 asset to a tier 1 asset this means baks will need to increase their gold holding by 6% this will increase the price of gold after 1st Jan . in theory silver should go up too. I would buy silver now also your gambling with silver ant a t vagas so really whats the difference?
You are better of in baccarat, as the odds are better than betting even money on roulette. Not that I gamble (just in case the Mississippi read this)
There are better odds than roulette. Double zero roulette has a house edge of 5.26% (Single zero is 2.70%). That number is the % of bets that the casino wins every time (meaning bet black or red and it comes up green) and is how the casinos make their money. The Craps pass line bet has a house edge of just 1.41% and the odds bet is 0 (yes zero) % as they pay proportional to how hard it is to re-roll the point. So go downtown, find a casino with 10x odds and make $100 bets with $1000 on the odds. If you win a roll, it will pay $1300-$2100 (plus your $1100 back)***, depending on what the point was. Either way, enjoy, play nickel slots and drink free and have steak at 2am. ***Math, not my strong point
I find it funny that not ONE single person has suggested to NOT PULL YOUR PENSION TO GAMBLE IN VEGAS!!! Seems a bit irresponsible, no? But hey, your money, not mine enjoy! Oh, if you have your mind set on taking this money I wouldn't put more than half into silver. Only because you have a limited time frame in which you can purchase/sell your asset, if the markets having a bad week, you will not be fortunate enough to say 'oh, well I'll just hold for another XXX days'. 50% cash. 50% silver. Also remember the hit you are going to take on taxes, shipping costs... and when you sell... most likely you will incur some costs there too.
They didnt ask if we think going to Las Vegas is a dumb idea, only should he buy metals until he goes there. May as well hang on to the cash if its only a few months. Mucking around with buy and sell silver over short term hardly worth it....odds in favor of it costing more to buy than you get back at sell. If I ever visit the US I would like to see some of the national parks, not a row of friggen spinning slots. BTW in my part of the world we have casinos and slot machines all over the place so a holiday to a casino doesnt really excite me.
Roulette. Wait for a good run on red, then bet on black. Every time it comes up red, double your bet on black.....fool proof. Might need more than 3500 though.
Play Blackjack in Casino. Multiple Deck (not single). If you master the formula with the correct strategy and right amount of sum you put on the table. It is possible to bit the casino by 1% advantage in the long run. But i am still verifying the formula.>.<
Take it out and then send it to me. I'll flip a coin on the 10th March to see if I send some or all of it it back to you with a guarantee to send enough back to you in notes and coins for a good piss up so you at least feel like you went to Vegas. Spend the notes and keep the change so when you wake up you still have some change in your pocket.
Used to go to the races in my younger days with a professional punter...He used to tell me that most gamblers who went to Casinos and Racetracks, took their head off when entering and put on a pumpkin. If you are going to bet on the spinning rule, use the method that Packer use to us the Martens double down system. You probably will get beaten in the end because your bank is not big enough. Packer would place a bet on red (i million$) If it won he left. If he lost he would double the bet to 2 1million $,, keep doubling till he won, then he left. Start at $10.At least you will have some fun and probably last a long time. Used this method a few times myself at football fund raising gambling nights,,,only started at $2..Worst case scenario was the night I lost 8 times in a row last bet $256. had to put $512 on to get all my money back plus $2 winnings. Last chance before I would have to go home to get more $...But fortune favors the brave...The fellow running the show was quite pleased with the amount of $ he had in the kitty but in the end he was skinned as the $512 bet was my saviour..You have to have nerves of steel.. One of my mates was doing the same thing on black. He never got to the stage of having to place a bet higher than $64.. Went home winning a few hundred that night while the poor club official to this very day will probably never figure out why he lost. You have to have discipline to make this work...Buy yourself a roulette wheel and play and practice with Monopoly Money.. Make sure you know the Casino rules before you start.. ^^^The way you are talking you seem to be regarding it as a holiday where you expect to loose..It's your money but if you want to win you have to hate to loose...No excuses! Not my Lucky Day? Certainly not, but the Casino Management will probably have a lucky and winning day . Anyway best of luck..Let us know how you get on/ Regards Errol 43
