Gold Retirement Fund

N

Nicky P

New Member
Hey I wanted to what people think. I started saving for gold and was thinking of spending it down over my retirement one day.

Gold: 92 ounces

I was thinking of using 4 ounces of gold a year to supplement retirement needs. Im going to be savings for a house now so I wont be able to add much to my gold holdings. Then afterwards Ill have a mortgage and children and that would be the main investments as gold will take a backseat for me. Ill still try to grab some silver but won't have much to invest.

How far will 4 ounces of gold help in supplementing my future retirement one day.

92/4= 23 years of security
92/5= 18.4 years of security

I plan to work til about 67 or so. And my silver holdings will probably be gifted to family one day/retirement emergency fund. Yes I am being somewhat reliant on the fact that social security would be able to pay out 75% of scheduled benefits.

I just know that there is a decent amount of people in America who retire and depend on social security for 90% of their income. I decided to hold my small amount of wealth in gold so that when I do get older as I dont plan on touching my holdings it will provide options and would supplement retirement down the road.

What do you think?
 
Depends on your age, 401k contributions, where you live, what you want to do in retirement etc etc ..... so may variables. Gold as an investment is pretty good offering long term 8% ish pa, but I think it’s smarter to pay down debt first unless you have accountancy skills.
 
I contribute 3% to my 401k to get the full 3% company match. I have no debt. But in a few years probably going into debt to finance a house. That would be where my main asset as paying off a mortgage is adding equity to your house. Im just hoping to hedge myself with alittle bit of security in gold and silver. Not sure where the USD will be in 40 years. But I will hold the gold because in a world with negative real returns Id much rather have gold. If it falls to 1500 or lower Ill try to buy more if I can but I don't see the paper price going much lower. I just want to know that if things go to crap I will have something to fall back on. Even if it doesnt equate to much. As of right now 4 ounces x $1900= 7600. Doesnt get you a whole lot but its better than trying to retire on just the promised of social security payments that won't have the same purchasing power as it has now. And with the declining labor force participation rate things don't look good for that Ponzi scheme.
 
Yep that's a good idea and could be a little extra income.
The key will be, when you are old how much will you need to live on?
If you're out of debt by then you can live on very little and the gold would be a little extra for necessities.
That's similar to the plan I have but I really hope to pass down most of it.
I'm off grid and dont even have utilities so saves me hundreds more a month too.
It all adds up!
 
Property (and you better check very carefully where you buy and beware of Section 8 and socialist local government policies which may lead to future deteriorating property market conditions) & paying off the mortgage asap and getting out of that debt is what I would concentrate on. Needless to say you probably should keep assets such as property in your name.

Some physical gold that you have in your possession (I don't trust funds, ETFs, safety deposit boxes and vaults) is an excellent idea and cushion against SHTF. The problem to resolve here is in how to secure it. The first line of defence is not letting people in family and social circles know about it. This may sound harsh but you never know in life. Another thing, always buy gold for cash and over the counter and don't provide a name or address where possible. Once your name is recorded the authorities know where to come and get it some day. State confiscations have happened in the past. They may happen again.

Also be wary of over-investing your total disposable income into gold, the reason being that barring a total collapse, the returns may under perform compared to certain other types of investments.

I wouldn't rely much on social security and state pensions still being around so the more self-reliant one can become, and the earlier one sets up one's life to live this way, the better you will be positioned in future against potential turmoil.

This may sound like a cliché but the way things are going it doesn't look like conditions will improve over the longer term and we are on a downward trajectory. Therefore prepare for the worst.
 
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