Newbie needs advice on strategy

Discussion in 'Silver' started by Glenis, Dec 30, 2018.

  1. Krakked789

    Krakked789 Member

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    Does anyone else get hungry when they see such beautiful silver bars? :D
     
  2. Krakked789

    Krakked789 Member

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    Yeah, I'm really getting that sense lately - particularly with various new laws that Australia has recently tabled or ratified...
     
  3. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    PMs might not return a dividend like a wall street product but it's safe and secure if nothing else. And now might be a time to be safe and wait it out for awhile.
    If I had a big wad of inheritance I'd wait it out and see what happens.
    If something crazy happens soon you'll be in a good place later. If nothing much happens for awhile you'll still be fine and you can take your time with it.
    If you choose a wall street product over physical gold or silver at this time I wish you luck and be careful. Dont gamble with more than youd be willing to lose and it would suck to lose that.
    When my dad died my "inheritance" was his funeral bill. It was almost exactly the amount he had in his savings. He always was a practical joker tho.
     
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  4. Glenis

    Glenis Member

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    Life got in the way for a while but I'm back to report I'm officially a Silver Stacker :) I made my first purchase in May and more in June, not exactly the bottom of the market but could have been worse.
     
  5. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    upload_2019-8-27_22-3-5.png
     
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  6. Glenis

    Glenis Member

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    My original plan in December was to aim for 3,000 oz silver and 60 oz gold over a 5 year time frame. Due to some major personal changes, I'm cranking it back to 1,000 silver and 20 gold but moving up the time frame to have it done much sooner. In some ways, it seems like a lot but in others, it seems pretty pathetic.

    Like most people, my biggest asset is my house and at my age, the security of having a mortgage-free house is/was my priority. It's big enough to have a flatmate/boarder if I need the additional income.

    I'm feeling some urgency to buy PM's because I feel silver will reach $45-$60 USD in the near future, possibly this year, then fall back to a new 'normal' of $40-$45. I'd love to be wrong and it resets to $1,000 but the reason I don't think that's likely is that silver has many industrial, technological and medical purposes, there comes a point where it prices itself out of the market. Of course, this is just my opinion but based on reading and watching a lot of YouTube particularily channels that give actual facts, figures and stats.

    This guy has lots of interesting things to say https://srsroccoreport.com/why-silver-is-better-than-gold/
     
  7. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I've said it elsewhere;

    The best time to plant a tree was 20 years ago,
    the second best time is now!
     
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  8. SilverDJ

    SilverDJ Well-Known Member

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    If it does, don't make the mistake of not taking profits. It always comes back down from a high.
     
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  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    This is why I am considering to up my pm allocation from my current 23%. It’s easier to average when you got much more to sell.
     
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