Either they have quite a bit of money to do so, or they are just keeping up with the Joneses.. Perfect example of what I was saying, Parents teach their kids bad habits.
No they are not rich, most I can say is they are probably in the middle, they [del]acted[/del] (pretend to be) rich that's all.
Well that age group (from the 1960's up) may not have seen economic hardship like a major 1930's depression but atttitudes have changed a lot in more recent times. It wasn't too long ago that your first car was always assumed to be an old bomb that you could make your own. Now...... somewhat different atttiudes. When you were a older teenager you could finally (maybe) get your own ''stereo'' in your room and hope that your family phone was in a secluded part of the house. Now, your average ''not even a teenager yet'' must have in their room a computer, a compact music system of various sorts, a mobile phone and a various assortment of appliances with a little ''i'' in front of the name, oh, and a huge TV preferable with Foxtel. Perhaps a slight exaggeration on some levels. But it was not necessary to know hard times not to spend money on any and everything. This is about attititude and a culture of I want rather than I need.
There's no reason why you can't be a consumer whore and a stacker at the same time. Moderation is the key. No point denying experiences for the prospect of some metal. There are some very dull replies in this thread.
I guess part of my point was really that many of those commodities (eg: i everythings) didn't exist until recent years so there was no need to consume them. You had one or two things that were desirable and you were satisfied with them as representing your contribution to the consumer economy.
I understand what you are saying, but at the same time we are still experiencing the rise of consumer technology. 50 years ago households had to save for appliances like microwaves, nowadays you can buy one for $100 which is less than a days pay. We are a throwaway society and the technologies are much more affordable than previously. Because of this, we are a marketers dream and there is a lot of 'keeping up with the jones' but i have my iPhone, iMac etc etc and the actual cost of which is bugger all compared to the average Australian income. In my opinion it is the increases in housing costs that is the catalyst for the household debt more so than the items you mention. Compare this graph which shows household debt vs income: And this graph which compares median house prices vs income Sorry, the time frame in the 2nd graph is longer but ignore the first half of the x-axis. My point? The graphs almost mirror each other, and, the largest household costs is by far the cost of the housing, whether this be rental rates, or mortgage repayments. The household debt is a result of the property bubble. People buy all the 'worthless consumer goods" but at the same time they are spending 3 times more of their income on their family home relative to the 1950's. EDIT: WOW I LOST MOST OF MY POST, IT DISAPPEARED, FURIOUS! Long story short - household debt is a result of property bubble, not consumer goods. Time to vent, what a waste of text...
Yes, I have lost lots of text before - I think it happens when you hit enter or something else that is fairly common- just vanishes! I agree housing is the big cost. And the other stuff is pretty cheap these days - all depends on what your particular income is and how much goes on the credit card I guess!
Agreed, im still in my 20s(late 20s) , and all i thought bout in my early 20s was generating a passive income, property, ect after i finished my trade by the mid 20s, i picked my shit up, moved interstate, leaving friends ect, purely for the purpose of work(working sometimes upto 10 months straight of 13 day fortnites away) i think young ppl are clued up even more these days on what they want, and an easier future, then forefathers. More ppl see how hard things are getting that they cant spend barely a fifth of their pay for a mortgage anymore. Core position : 10,000 oz silver or buying upto 200per oz 1kg gold. Selling : $500 per oz, or between 2020-2024.
Great post. I kind of yearn for those pre-internet times. Problem now is, if i don't agree with my son having all these things when he is older, he will be a social outcast at school since all his peers will have them. You can't just say tough luck, you can be different, you don't need these things. Ostracism can lead to worse problems. As for core positions the poster above has an ambitious total of 10,000 ounces of Ag, which is great but will this be at the expense of other investments? My core financial position is paying off my PPOR home loan and then purchasing a positive geared investment property. Following this my investment in PMs is a low-key, long term one - to just stack a little bit a time over time. No particular target, just to keep accumulating and then use some of these funds to help my kids in the future. Even so i will try and always retain a portion of my PM holdings as a hedge against inflation and future uncertainty/SHTF scenario and will thus never sell out completely.
TLDR version: "When I was your age, we had to hike 7 miles through a foot of snow and ice to get to school each day. Then go home and chop half a tonne of firewood before bed." Seriously.....
Hi Everyone Long time listener, first time caller here... I have only been stacking for 6months so far, first got into in after finding a 37 Crown under a deck at work (aUNC if anybody was curious). I currently holding 70oz .999 and around 40oz mix of .925 and .500 plus various numismatics. I hope to add to this collection this year and next (depending on price of course) to be able to sit on about 500oz.. My sole plan is to be able to swap this for a home, or a big chunk of it anyway. That has always been my plan from Day One, and i would use all my .999+ to achieve it if i had to. If i can, i would like to keep the .925, .500 and numis coins, as i believe they could eventually become extremely valuable (on top of their silver content) in the future. As one of the younger generation (25), I feel that i have set myself up pretty well in investing in Silver, and i have convinced some of my friends are getting into it also.. Hopefully it all pays off Wazza
Hi Wazza and welcome, thats a great start mate and good on you for getting your friends onto it, we need all the help we can get to put as much pressure as possible on the big bank manipulators. What part of the country are you at? SS77
Im from Sydney.. Hills District area... Ive got 2 mates that want to dump 10g each into it, and another 2 that already are sitting on over 400oz and still stacking.. I am quite enjoying the silver roller coaster so far...
