How much gold and silver should you have?
Welcome back Crypto Nation,
Now I understand the majority of people reading this will have little to no gold or silver. I do encourage each of you to begin to a collection. There are a number of reasons I say this and in today's post I will try to make the case for you to do so.
The easiest way I like to think about it is like a savings account. The reason I say this is I find it much easier to purchase a little gold or silver and tuck it away. As opposed to just saving cash in a bank account. I have found that eventually I will think of a reason to dip into my savings and spend it on something I really didn't need.
When you own gold and silver it's a little more of a process to sell it for cash. Because of this additional layer required to sell them it has allowed me to stack as opposed to spend. Also another great benefit is I'm keeping my money out of the banks hands. So not only am I saving money I'm keeping it out of their greedy hands.
Now back to the original question how much should you own. I think you should begin with 5 percent of your networth in gold and 5 percent in silver. Now this only represents 10 percent of your total wealth. The other 90 percent should be spread around between crypto, real estate and cash. Notice I didn't say the stock market.
Last year I closed out both of my 401 k to pay off my credit card debt and put the rest into crypto. My money has grown significantly since I made this decision. But I would never have been able to do this if I didn't have my gold and silver nest egg.
I would love to hear your opinion on this topic by reading your comments below. I always upvote comments and the most relevant will get rewarded higher. Please upvote and resteem this as thank you back. If you're new to this blog thanks for the follow and I'll try to produce content that is fun or educational.
Silver Crypto
This is an important topic! Thanks for the share! I believe 5% of your net worth should be in physical precious metals, with an allocation of about 65% gold 35% silver. This is my personal preference. I can see situations where the portfolio allocation can be higher than 5% to even 10% like you suggest, along with a more aggressive weighting in silver than 35%. I believe physical precious metals are essential tools to secure some form of portfolio insurance.
@brettcalloway Very nice comment. I like how you explained it. Welcome to the blog, please comment anytime. I personally have 75 percent gold and 25 percent silver. I didn't like all the weight.
Great point. I dig it because I enjoy having it in my hands & it's shiny. Hahaha. It is tangible. There is a disconnect with stores of value with modern society. With the advent of direct deposit ;people do not see their money. Coins help bridge that connection. Thank you @thetruth36 for sharing. Have a an amazing weekend.
@steemcafe Thanks for the comment! The gold rule is so important! He who has the gold makes the rules. There is also do unto others as you would want others to do unto you. You pick lol
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This is a great topic of conversation. I think a lot of people find a combined 10% of networth to be daunting and/or confusing depending on one's networth and how one is determining this figure. If someone has an inflated networth due to estimated home equity, then it might be hard to get to 10% of that figure. If someone has investments at all - be it crypto, stocks, bonds, whatever - I would consider getting at least 10% of that into gold and silver. And don't forget to re-balance allocations every so often. This will help ease the lows in the crypto market if you have reallocated some of your gains into gold/silver.
@cwparkes Great comment and welcome to the blog. Hope to see you in the comment section soon. You make some excellent points.
I agree with 10% in precious metals of your free cash. You see that % being mentioned more often. My problem is I liked it so much that I gradually moved to some 15% also due to appreciation of the gold value. That is called goldfever.
@goldrooster Trust me I used to put about 50 percent lol. I've scaled back as crypto is my new obsession. But never forget the basics too.
shout out the metal heads. keep stackin. keep kaBOOMIN!
@champagnecrypto The general! Thanks for the comment!
Welcome back brother @thetruth, thank you very much for your advise, I agree with you, gold and silver is the right choice to us to invest, the price of gold is always increase, thank you very much for your kind and support to me, success always for you brother @thetruth36
@abialfatih welcome back to the blog thank you so much for your comment I do agree with you as well hope you're having a great day
Yes it's a good idea.In my 2 cent opinion It's not a wise thing to keep your eggs in one basket. I would like to invest a little bit more in gold like 20% and 40% in property 20% in hand and remaining 20% in cryptos. In any business you invest the amount which you bear to lose. Let's hope for the best. Thanks for sharing a nice option. keep sharing @thetruth36
Once again for thanks to visit my blog last time. Have a nice weekend
@kamchore Great comment, thanks for sharing. Glad to see you thinking of the future.
Thanks for your words of encouragement. Hopefully you will don't miss to visit my blog:) All the best @thetruth36
I don't own gold or silver. The only thing I own right now is steem I've earned here.
I understand what you're trying to say and it makes complete sense.
@rjunaid12 I can appreciate that though. Only advice is don't put all your eggs in one basket.
I agree to that
I must admit, I have never thought of it that way. I do have a tendency to spend more than I should on impulse buys, this certainly could be a solution. Now to convince my wife :/
Currently I have put a decent amount of my fiat into crypto and has been doing very well. I am leaving the UK to live for 6 months in South Korea, so don't have anything extra to invest, but on my return, I like the idea of some gold coins. Just like your dragon embossed ones :P
@chaomos Thanks for the comment and welcome to the blog. I always tell my girlfriend imagine it like a savings account haha. 10 oz of silver a month should be a good place to start. Gold maybe one or two grams.
If your living in the uk buy gold sovereign coins as you dont pay any capital gains tax on them when you come to sell
@gdwcoins Great advice. Welcome to the blog, please give me a follow and resteem.
Thanks for the advice. Buying gold coins seems easy, but when it comes to selling in the UK what are the best options. Lots of conflicting info online when I took a look after this post.
@chaomos That's a really good question. Here in the states it's a easy as walking into the pawn shop and trading for cash. Not even paperwork to fill out. I will say if there were high tariffs or taxes I would still buy because you can sell it privately.
I have done some more digging since. It seems a lot of shopping around is needed, but that either I would need to sell in shops that are dedicated to buying and selling coins/bullion or using online sites that will buy any gold at often very competitive prices (they provide you with a secure envelope that is insured for the contents).
No concerns with selling gold coins as they seem to be free of any capital gains tax, oddly this does not apply to silver coins.