Husband want to convert all savings into gold

[Anonymous]

Anonymous wrote:

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

If you know anything about the markets, all the money is in tech and gold/silver.
Your husband is actually very wise and you would reap an enormous financial gain in making that move.

Diversification is a foolish play in these times.

LOL. Tech and gold are at or close to all time highs. Thats generally not the time to pour your life savings into a specific investment. The time to do so was years ago.

[Anonymous]

New poster here.

Lotta opinions above, expressed in finest DCUM fashion. Here's mine. I'e been investing for 10+ years, done VERY well (eg up 15% last 12 months) with non-traditional (not crazy) strategy. About 13 years ago I bought gold and made a bunch of money. Enough for a really nice vacation. I bought GLD at $68 and sold at $90 in a year. But that turned out to be dumb luck. If I'd done it a few years later, I'd have taken a bath. Luckily I was out by then. I'm back in GLD very modestly now. It's about 1.5% of my portfolio. With all the craziness - cue your husband to elaborate - I suspect there will be another nice little runup. But maybe not. Lots of people believe the market to be hopelessly manipulated. And there are no revenue streams. Blah blah blah. BUT there are ways to address some of the concerns your husband sees without the yellow metal. Yeah, the US is kind of a mess. So invest ex-US. Not emerging markets, developed markets. Stick with large or (better) mega companies. And look for ones with low debt ratios - which are way worse in the US - if you fear a debt bomb (I do). That's for equities. For bonds, go for quality. You can buy ex-US bond funds - or you can buy TIPS, which are US of course, if you fear inflation. Keep six months expenses in cash. Your husband's not nuts, but diversification is always your friend. Good luck.

[Anonymous]

Idk, my great-grandfather made $$$$ during the Great Depression on gold. Go for it OP. Let me know how it goes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

If you know anything about the markets, all the money is in tech and gold/silver.
Your husband is actually very wise and you would reap an enormous financial gain in making that move.

Diversification is a foolish play in these times.

LOL. Tech and gold are at or close to all time highs. Thats generally not the time to pour your life savings into a specific investment. The time to do so was years ago.

I hold some physical gold and did well in gold ETFs in 2007/2008, but I agree that the time to get into gold in a major way has past. It could still go up, but you’d be buying high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

If you know anything about the markets, all the money is in tech and gold/silver.
Your husband is actually very wise and you would reap an enormous financial gain in making that move.

Diversification is a foolish play in these times.

Sorry - *passed*
LOL. Tech and gold are at or close to all time highs. Thats generally not the time to pour your life savings into a specific investment. The time to do so was years ago.

I hold some physical gold and did well in gold ETFs in 2007/2008, but I agree that the time to get into gold in a major way has past. It could still go up, but you’d be buying high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

If you know anything about the markets, all the money is in tech and gold/silver.
Your husband is actually very wise and you would reap an enormous financial gain in making that move.

Diversification is a foolish play in these times.

Sorry - *passed*
LOL. Tech and gold are at or close to all time highs. Thats generally not the time to pour your life savings into a specific investment. The time to do so was years ago.

I hold some physical gold and did well in gold ETFs in 2007/2008, but I agree that the time to get into gold in a major way has past. It could still go up, but you’d be buying high.

Trying again — *passed*

[Anonymous]

Anonymous wrote:New poster here.

Lotta opinions above, expressed in finest DCUM fashion. Here's mine. I'e been investing for 10+ years, done VERY well (eg up 15% last 12 months) with non-traditional (not crazy) strategy. About 13 years ago I bought gold and made a bunch of money. Enough for a really nice vacation. I bought GLD at $68 and sold at $90 in a year. But that turned out to be dumb luck. If I'd done it a few years later, I'd have taken a bath. Luckily I was out by then. I'm back in GLD very modestly now. It's about 1.5% of my portfolio. With all the craziness - cue your husband to elaborate - I suspect there will be another nice little runup. But maybe not. Lots of people believe the market to be hopelessly manipulated. And there are no revenue streams. Blah blah blah. BUT there are ways to address some of the concerns your husband sees without the yellow metal. Yeah, the US is kind of a mess. So invest ex-US. Not emerging markets, developed markets. Stick with large or (better) mega companies. And look for ones with low debt ratios - which are way worse in the US - if you fear a debt bomb (I do). That's for equities. For bonds, go for quality. You can buy ex-US bond funds - or you can buy TIPS, which are US of course, if you fear inflation. Keep six months expenses in cash. Your husband's not nuts, but diversification is always your friend. Good luck.

^^^listen to this

[Anonymous]

Anonymous wrote:

Anonymous wrote:They are not printing money, the government is borrowing money that is being put into the economy. The money that is not going back into the economy is all billions of tax breaks for the very very wealthy, they can only spend so much money on goods and services

No, they’re actually printing it.

Agree

[Anonymous]

Anonymous wrote:

Anonymous wrote:New poster here.

Lotta opinions above, expressed in finest DCUM fashion. Here's mine. I'e been investing for 10+ years, done VERY well (eg up 15% last 12 months) with non-traditional (not crazy) strategy. About 13 years ago I bought gold and made a bunch of money. Enough for a really nice vacation. I bought GLD at $68 and sold at $90 in a year. But that turned out to be dumb luck. If I'd done it a few years later, I'd have taken a bath. Luckily I was out by then. I'm back in GLD very modestly now. It's about 1.5% of my portfolio. With all the craziness - cue your husband to elaborate - I suspect there will be another nice little runup. But maybe not. Lots of people believe the market to be hopelessly manipulated. And there are no revenue streams. Blah blah blah. BUT there are ways to address some of the concerns your husband sees without the yellow metal. Yeah, the US is kind of a mess. So invest ex-US. Not emerging markets, developed markets. Stick with large or (better) mega companies. And look for ones with low debt ratios - which are way worse in the US - if you fear a debt bomb (I do). That's for equities. For bonds, go for quality. You can buy ex-US bond funds - or you can buy TIPS, which are US of course, if you fear inflation. Keep six months expenses in cash. Your husband's not nuts, but diversification is always your friend. Good luck.

10% cash
45% S&P500 Index ETF (USA)
45% International Index ETF


^^^listen to this

[Anonymous]

It's interesting to me that the people saying OP's DH isn't crazy are pointing to their own portfolios that have a tiny fraction in gold. You can put a tiny fraction of your portfolio in anything - bitcoin, hog futures, empty 100 acre lots of land in Iowa - and not be crazy. But this guy is talking about moving everything to gold. That is unequivocally crazy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

If the dollar collapses, gold and silver will be the only things that have value, because they’ll be the only thing anyone will take as payment for things you want (e.g., food).

Yea and at that point fu*k it. we are all screwed. Can't spend my time worring about these things.

[Anonymous]

Anonymous wrote:It's interesting to me that the people saying OP's DH isn't crazy are pointing to their own portfolios that have a tiny fraction in gold. You can put a tiny fraction of your portfolio in anything - bitcoin, hog futures, empty 100 acre lots of land in Iowa - and not be crazy. But this guy is talking about moving everything to gold. That is unequivocally crazy.

Insane. Now would be a good time to separate your assets

[Anonymous]

For all the people arguing that gold is just a shiny rock that has no intrinsic value, the point of holding some percentage of assets in gold (and other precious metals) is that for over 5000 years of human history, there has been a consensus that gold (and silver) has monetary value. For that reason many professional investors hold 10 to 20 percent of their assets in precious metals and PM stocks. Note that governments hold most of the gold in circulation for the same reason. It's basically a hedge against fiat currencies, which are tied to nothing except the collective good will of several billion people. But when governments start to print trillions of dollars to "rescue" the economy, as the US and EU have done since 2007, the value of fiat currency is greatly diminished against alternative forms of money (such as gold and bitcoin). So while gold does appeal to a lot of loony anti-government types (based on some historical reasons set out above) it is also good diversification to have some meaningful percentage of assets in alternative currencies, including gold. I'm at about 20 percent right now because gold and gold stocks have done extremely well this past year, and probably will reallocate once gold hits new all-time dollar highs later this year. Note that gold has hit all time highs in virtually every other currency previously, again due to governments degrading the value of currency by overprinting. Good luck!

[Anonymous]

Anonymous wrote:For all the people arguing that gold is just a shiny rock that has no intrinsic value, the point of holding some percentage of assets in gold (and other precious metals) is that for over 5000 years of human history, there has been a consensus that gold (and silver) has monetary value. For that reason many professional investors hold 10 to 20 percent of their assets in precious metals and PM stocks. Note that governments hold most of the gold in circulation for the same reason. It's basically a hedge against fiat currencies, which are tied to nothing except the collective good will of several billion people. But when governments start to print trillions of dollars to "rescue" the economy, as the US and EU have done since 2007, the value of fiat currency is greatly diminished against alternative forms of money (such as gold and bitcoin). So while gold does appeal to a lot of loony anti-government types (based on some historical reasons set out above) it is also good diversification to have some meaningful percentage of assets in alternative currencies, including gold. I'm at about 20 percent right now because gold and gold stocks have done extremely well this past year, and probably will reallocate once gold hits new all-time dollar highs later this year. Note that gold has hit all time highs in virtually every other currency previously, again due to governments degrading the value of currency by overprinting. Good luck!

Again, very big difference between 10-20% in gold (with the 20% being due to price run-ups rather than investment strategy) and husband converting ALL the savings to gold (esp after significant price run-ups). They could easily lose 10x their savings if history is any guide.

[Anonymous]

To all, you might wanna put at least a little bit in GLD or PHYS. This shiney run-up will run for a bit I'm guessing. But keep it very low % of portfolio.