Husband want to convert all savings into gold

[Anonymous]

maybe 10% in gold is always a good idea. Right now it is expensive; you never know when peace will break out in the world and there goes you gold investment. It is also not terribly liquid - but a certain amount of your net worth in gold is a good idea.

[Anonymous]

Anonymous wrote:Agreed with the others that gold is pretty pointless. It is pretty, but the intrinsinc value is limited to making jewelry and some electronic components; there will be no market for either if the dollar collapses.

It's also impractical as a medium of exchange, as it is heavy and unwieldy, and the purity needs to be determined by an expert. (For the poster who mentioned Bitcoin--that is also impractical as a medium of exchange, as the transaction times are measured in hours.)

If the husband simply _must_ buy physical gold (being aware of the transportation, purity, and security concerns), then put some fraction of your savings into it. Maybe 1/3 to 1/2 at the most. That way, you won't be totally screwed if (when) the gold thing fails.

If you are genuinely concerned about the collapse of the dollar, then my suggestion would be to become as self-sufficient as possible, in order to minimize your use of dollars. Buy a farm, plant some crops, raise some animals, and learn a trade that will always be in demand for barter. Given the unlikelihood of the dollar's collapse, this is probably not a great plan (assuming that you have good jobs now), but it is more likely than a gold bar to prove useful in feeding your family.

My own opinion is that the current US debt level is irresponsible and unsustainable, but that the collapse of the dollar would be so disastrous for the world that it will not be allowed to happen, at least not for the next few decades.

+1
This is the way to steer the conversation. Buy some land or second property with that money. Who wants to buy actual physical gold and then worry about it's security. FYI bank deposit boxes are not actually that secure. Google for nytimes article about it. Also if you are talking about gold ETF in 401k then that stuff depends on the system to be properly functioning. Anyways it all depends on how much money we are talking about.

[Anonymous]

My precious metals stocks have soared, i didn’t really know why but this makes sense.

[Anonymous]

You can balance your portfolio by buying international stocks. Right now, many investors are turning from the dollar to the euro.

[Anonymous]

Anonymous wrote:maybe 10% in gold is always a good idea. Right now it is expensive; you never know when peace will break out in the world and there goes you gold investment. It is also not terribly liquid - but a certain amount of your net worth in gold is a good idea.

Maybe 1% or 5% or at a stretch 7% or 10% but I'm keeping my investments going.

[Anonymous]

My grandfather had $3000 in gold krugerands coins for each of his 3 kids when he died.

Mom sold hers.

I don't know how you would buy bread or milk with a krugerand.

[Anonymous]

Better to invest in an external freezer and fill it with chicken and beef.

[Anonymous]

OP does he want physical gold or GLD stock?

The problem with physical gold is generally everyone wants 10% fees to sell it. I've sold the gold coins through coin dealers, pawn shops, and auction house. Maybe there is a better way that I'm not aware of.

[Anonymous]

Buy a rental house on Capitol Hill. By the other threads on here those prices keep going up up up.

[Anonymous]

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?

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

[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?

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

Buy now, it's higher than ever! is not the salespitch you tihnk it is.

[Anonymous]

Anonymous wrote:

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

TSLA is up 50% within the last month. Another lifetime oppurtunity.

[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?

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

Buy now, it's higher than ever! is not the salespitch you tihnk it is.

This is what happens to gold. The people who buy it at its height lose out a lot. The people who buy it low often don't sell it high because they think "this time it's different and it's going to keep going up...that dip was a blip I better buy more...etc." and basically it often acts as a security blanket---you just have some around (either physical or GLD etfs) so you never want to get rid of it. It's fine as a less correlated asset and bit of security. It can be okay as a speculative instrument if you're disciplined. But it's definitely not put all your money in it.

[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).

This is what my father said as he diversified his portfolio and transferred some of his stock assets for gold and water desalinization plants. The rest went into real estate and he changed up his stocks to reflect the economy.

[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?

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

If they invested 500 grand 50/50 in silver and gold July 23rd, they’d now have $499,347.34. That same amount chucked into VTSAX on the same day would have been worth $509,590 as of Friday.