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  • wcd

    Grandmaster
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    Dec 2, 2011
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    Off the Grid In Tennessee
    Looking at some of the money I spend each week. Maybe $20.00 on disposable income things like eating lunch out once in a while etc.

    Well I started thinking what if I invested that money in Silver Copper etc. Even if the shnhtf I would perhaps be doing better than a bank savings account. Problem is I have no idea where to start. Any one have any experience or suggestions?


    Thanks
     

    Kurr

    Expert
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    May 18, 2011
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    Commodoties such as gold silver and copper are not investments, but rather a store of value, and in this highly manipulated market silver especially is very very volatile.

    Silver is currently 14.07 and I started buying back when it was about 10, rode it up to 49 and followed it down to it's current. If we could ever get the paper market off the physical we'd be in better shape, but when spot price is less than the cost to get it out of the ground, you should be aware.

    Realcent.org is a great place to learn, and full of wonderfull people happy to answer any questions you might have.
     

    17 squirrel

    Shooter
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    May 15, 2013
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    Put it in a supplemental retirement fund.. Invest it in the market...
    I'm not a investment guy, I pay someone to do that for me.
    But I too did the silver thing. But I got in around 4 or 5 bucks a ounce.
    I bought silver dollars at gun shows with leftover fun money. I would buy a tube and toss it in a safe. I did it for well over twenty years. When silver spot hit 34 bucks a few years ago, I sold it all. And that's it for me and precious metals.
     
    Last edited:

    pudly

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    Food, water, medical supplies, guns, ammunition.

    Also: a cash reserve, useful/practical skills (aka invest in yourself), personal connections (to help each other), etc.

    If you are worried about SHTF (and you should), then general preps should come first. Having some investments in gold/silver makes sense, but definitely aren't a first priority.
     

    SSGSAD

    Grandmaster
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    Dec 22, 2009
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    Town of 900 miles
    If you don't have a 3-6 month emergency fund saved, start there.

    Follow Dave Ransey, Baby steps .....

    #1, $1000.00 savings .....

    #2, pay off ALL Credit cards.....

    #3, save 6 months EMERGENCY fund, NOT to BE touched, except, in case of EMERGENCY .....

    #4, pay off all debts, except house .....

    #5, pay cash for EVERYTHING, from then on ..... if you do NOT have CASH, you don't need it !!!!!
     

    wcd

    Grandmaster
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    Dec 2, 2011
    6,274
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    Off the Grid In Tennessee
    Follow Dave Ransey, Baby steps .....

    #1, $1000.00 savings .....

    #2, pay off ALL Credit cards.....

    #3, save 6 months EMERGENCY fund, NOT to BE touched, except, in case of EMERGENCY .....

    #4, pay off all debts, except house .....

    #5, pay cash for EVERYTHING, from then on ..... if you do NOT have CASH, you don't need it !!!!!


    Check mark for all of the above.

    We have one credit card small purchase ($10.00) every month paid off the following day. We have a sufficient supply of food water etc. As well as chickens ducks etc and bacon seeds and a calf.


    We have arms and ammo. So what I was really wanting to know was if anyone augmented their preps with some precious metals. Even things do not ever go. South I figured it couldn't hurt to buy some silver versus blowing money on lunch out etc. Guess I could be wrong.
     

    Kutnupe14

    Troll Emeritus
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    Jan 13, 2011
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    Follow Dave Ransey, Baby steps .....

    #1, $1000.00 savings .....

    #2, pay off ALL Credit cards.....

    #3, save 6 months EMERGENCY fund, NOT to BE touched, except, in case of EMERGENCY .....

    #4, pay off all debts, except house .....

    #5, pay cash for EVERYTHING, from then on ..... if you do NOT have CASH, you don't need it !!!!!

    Is that really what Ramsey said? That's legit advice.
     

    woowoo2

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    Aug 17, 2010
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    Jeffersonville
    Follow Dave Ransey, Baby steps .....


    #5, pay cash for EVERYTHING, from then on ..... if you do NOT have CASH, you don't need it !!!!!

    I agree with all the above but this one.
    I put everything on a credit card, then pay it off every month.
    A credit card is just a tool....
     

    pudly

    Grandmaster
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    Nov 12, 2008
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    So what I was really wanting to know was if anyone augmented their preps with some precious metals. Even things do not ever go. South I figured it couldn't hurt to buy some silver versus blowing money on lunch out etc. Guess I could be wrong.

    If you have your other bases covered, then investing in some precious metals does make sense. They should hold their value even if the dollar collapses. If you do go that way, then know that even PM proponents generally only recommend 5-10% (20% high end) of your investment portfolio in PMs. Also, be sure to invest in physical metals. It is easy to invest in the GLD and SLV ETFs, but they are ponzi schemes that are likely to collapse when you most need them.

    I agree with all the above but this one.
    I put everything on a credit card, then pay it off every month.
    A credit card is just a tool....

    I'm more like this, but I understand that a lot of people have a hard time maintaining proper discipline when using CCs. For them, sticking to cash helps.
     
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    pudly

    Grandmaster
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    You are basically paying cash in a round-about way.

    Round-about, but with some advantages.
    -You don't have to carry as much cash, particularly for larger purchases.
    -You build a credit history for when you do need loans- house purchase, etc.
    -Translates easily for online purchases.

    That said, I certainly understand that many people spend more freely with CCs and some let it get out of control. Therefore, it really isn't for everyone.
     

    jd4320t

    Grandmaster
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    Oct 20, 2009
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    South Putnam County
    Putting a little here and there into precious metals is a great idea. I know some on here say not to but I disagree. My grandpa always bought me silver as a kid and I do the same for my daughter, niece and nephew.

    Do a little reading and see where the prices are at. Gold is at something like a six year low and silver is close to that.

    I firmly believe one of two things will happen.

    The price will always go back up.
    If the SHTF precious metals will be worth having.
     
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