Glad to be a part of this forum and in the company of so many like minded individuals who see the obvious flaws in our present fiat monetary system. Well anyway i'm only 18 but after doing alot of research into precious metals, i've decided to take the plunge and begin purchasing silver bullion. I actually received my first American Silver eagle so im extra happy today, but the problem i have is that there is a lot of hostility between me and my parents and my decision to purchase silver, they dont outright oppose it but they have alot of doubts. So im not sure how to confront them, should i simply ignore them knowing that i'm making the rights decision, or should i try to continue reasoning with them? What would you do in my situation?
Welcome to the forum. Tell your parents that they are right and that buying silver is a dud. But still better than dumping your money in nightclubs and everything else that goes with it, and at your age.
Welcome, 18 yrs old & stacking!!!!! How much grief do your parents give you? Have they ever held a piece of Gold or Silver in their hands? Ask them what else should I do with fiat dollars? Buy a 50 inch tv? Blow some fiat on other consumer goods? How is the interest rates that banks will give you versus inflation? What did they pay for the last time they went out for some swanky meal? You are old enough to vote & go to war. Your method of savings should be yours alone. Enjoy the forum & stick it to the oldies!!!! But do try to tune them in, but know when you hit a brick wall trying.
dont tell yr parents, call their bluff. accumulate then when the price sky rockets show them yr stack.
oh man as soon as i read it i was going to say to tell them that its better than beer and hookers, i scroll down and see your post
1 Get a safety deposit box 2 Don't tell them what your doing 3 Tell them you spent it all on drugs/booz & hookers 4 A couple of years down the track ,tell them the truth I know I'm a smartass
hahaha thanks for the suggestions. I keep telling them and others the reason prices keep rising is not the result of a natural occurence but because of the insidious nature of inflation, and that world currencies are gradually becoming devalued as a result. Whereas Gold and Silver have always maintained purchasing power. Then they all look at me like i'm some crazy conspiracy theorist, lol i dont know why i bother, maybe its better not to confuse them with the facts.
Buy them, or borrow for them, a copy of Mike Maloneys book Investing in Gold and Silver. There are some great deals through the bookshop tab in this forum if you cant find it in a library. Then ask them seriously to read it. You could even say that you want their opinion on it. That book is well researched and presented and will convince most people. Good luck.
Legggggy, if your parents think you should be saving in fiat, just tell 'em Clawhammer will buy all your PM's at spot if you ever want to convert back, so it's risk free
That's actually good advice. Buy them the mentioned book, then just drop the subject with them. If they ask, tell them you're saving - just don't say how.
Geez 18 years old! You are very wise buying silver at that age! At 18yo my money went into the local street fighter machine. Anthony Robbins mentioned somewhere that he knows of a kid that bought heaps of silver when it was a few dollars an ounce. Then onsold it at a profit when it went 4 times the price. Invested it in property now the kid is a millionaire. Anyways think of it this way. You bought an American Eagle coin. About a year ago they were around $25 each. Now they are around $40 each. Think of it this way. How much interest earned from putting that same $25 in the bank? Not including all the fees and taxes. See the difference? Now keep stacking and you'll really notice the difference.
Mike Maloney got video about gold/silver targeted for beginner. Better show your parents the video, since your parents don't believe in gold/silver it's alot to ask them to spend a couple of days to read a book they have no interest about. Whereas video is EASY, just spend 1.5 hour and you're done!
Btw, have you showed them Gold and Silver Chart in the past 10 years yet? Show them that, and ask your dad if he knows other investment class (his real estate or common stocks perhaps) that matched Gold/Silver price action.
Guys I'm gonna be a real "stick in the mud" here coz it just doesn't sit right with me that a young impressionable adult is being told to ignore his parents and to secretly stack silver behind their backs. I have kids (19, 22 & 25) and I would be very disappointed if this is what my kids did. I think a better option is to continue to build your stack, mainly because it's a great decision, but at the same time you should be trying to convince your parents to see the overwhelming benefits of stacking PM's so they can help you in your quest to make a better life for yourself. Be open and forthcoming with what you are doing. In the end, even if they don't agree with you I'm sure they will support you in whatever you chose to do. Who knows, you may be able to "turn" your oldies and get them to start their own stack. If all else fails, then you can take the attitude that you are an adult in charge of your on destiny and sometimes you just gotta do what you feel is best for you at the time
mmmm I just realised that the govt. tax you on the money you earn to buy PMs to preserve your wealth. Then tax you on the 'profit' when you use that wealth you saved ie the amount of preserved wealth you have managed to hang on to in the face of their massive efforts to devalue the money you've been trying to save. Death and taxes!
