Need advice: Buy gold now or over time?

Discussion in 'Wealth Creation & Management' started by SuprmeLeadr, Oct 22, 2019.

  1. Caneorange

    Caneorange Member

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    I think Rich Dad Poor Dad explained it best. The best way to create wealth is by creating businesses. It is hard to create wealth as an employee. Everyone wants to be an investor but it takes several 100K to be a real investor. (My paraphrase).

    Stacking is a hobby just like collecting anything else. If you are truly investing you need several 100K to make an impact.

    Example; WC says he gets 2% a month investing. If he has 10K “invested” he will have just under 33K in 5 years if he is “reinvesting” or he takes home $200 a month. Nothing here to change his life. Same holds true if he has 100K. However, if he has 300K now he is at almost a million in 5 years reinvesting or he takes home 6K a month.

    The problem is most people try to be an investor without the proper capital. That was my mistake about 5 years ago. I instead shifted gears 3 years ago into creating businesses. I have covered more wealth ground in 3 years than I had the previous 10 years working.
     
    Last edited: Jul 5, 2020
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Personally I like to keep minimal cash at any time and id never dream of having 15k cash sitting around daily losing value while metals keep rising.
    Physical price wont be dropping much if any and with the jump from $1200 to $1800 you've lost ALOT of purchasing power already.
    Cost averaging might work in some environments but I sure wouldnt hope for prices to drop because they have every reason not to. We are looking at an upward trend now.
    Even if paper spot drops you wont find metals for that anyway, might as well get it now and be done with it is my opinion.
    I sure wouldnt wait too.
     
    Last edited: Jul 5, 2020
  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Wholly crap.
    You're back!

    I remember the last conversation we had regarding your trading strategy being a statistically certain failure: Here

    How did that option-roulette-wheel thing work out for you?
     
    Last edited: Jul 5, 2020
  4. Caneorange

    Caneorange Member

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    Yep. I have kept checking the site over the last few years but never had the free time/desire to post anything. The only reason I was posting then was because of the fact I had a newborn that I was staying up all hours of the night with. You can probably guess that I have another newborn. So I’ll only be posting for a month or so and then I’ll go back to just reading the forums every few months.

    Statistics have held up with the positive expected return like a mathematician would predict. Again the problem was the small bankroll. Like I stated in the above post.

    I hope your investments have done well. Remind me what you trade. I had more important things to do over the last 4 years than remember what you said. What I quickly gathered from the link you provided is you claim a 2% per month return since 2012. My guess is you started with a small bankroll like myself and still sadly have a small bankroll.
     
  5. Jamie watson

    Jamie watson Active Member

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    Gold has outperformed, silver by somewhere in the ballpark of 5_1 over the past 50 years,buying a bit of extra gold at anytime is a very sound strategy,it's a long game.but always keep a bit of dry powder,just in case.you may find a bargain or just a rainy day.. good luck with it.cheers mate.
     
    66rounds likes this.
  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    That's a shame.
    I make the effort to remember everyone.

    You're still butthurt I see. :p
     

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