Retirement Planning - Lessons Learned

[cdaigle430]

Safe Deposit Boxes Aren’t Safe - The New York Times
You might find that your safe deposit box isn't as safe as you think.

Having worked at a bank-no they are not safe, they are NOT insured by the bank or by the FDIC. If a natural disaster takes it out or it is lost by theft....good luck if you dont have it insured yourself. Its only good for one thing-if you want to keep it away from anyone else who lives with you or in secret...or as a backup place to keep things.

 

[MossRoad]

Warren Buffet still hates gold. That's good enough for me.

The Truth About Warren Buffett’s Investment In Gold

 

[MoKelly]

Having worked at a bank-no they are not safe, they are NOT insured by the bank or by the FDIC. If a natural disaster takes it out or it is lost by theft....good luck if you dont have it insured yourself. Its only good for one thing-if you want to keep it away from anyone else who lives with you or in secret...or as a backup place to keep things.

No physical asset is safe. Anything physical can be stolen, lost or destroyed no matter where it is located.

The best you can do is keep records and buy insurance.

MoKelly

 

[MossRoad]

Dave Ramsey is as useless to me as a comb is to a bald man. Proof-One caller last year called and was concerned about the stock market when Biden gets into office. When Dave laughed at her and told her it doesn't matter who is in the white house I about fell off my chair. Lost allllll respect for his so called expertise. Yes it DOES matter who is in office and we will sadly see definite proof in the next couple of years of that. I dont want anyone's opinion on this either...just let time speak for itself ok.

Well, you got that sorta right...

What's more important is it's not the president, but the Congress.
How Stocks Performed Based On Political Party Of President And Congress: 1977 Through 219

 

[Steppenwolfe]

Warren Buffet still hates gold. That's good enough for me.

The Truth About Warren Buffett’s Investment In Gold

Pretty soon Joe Namath will be selling gold on TV. Nuff said...

 

[MossRoad]

Stocks perform best when there's a split congress.

 

[drssg]

Gold is a very speculative commodity to invest in. You're betting that no one wants it when you buy it and that everyone wants it when you sell it. There are much safer investments with more predictable returns. Slow and steady winds the race.

I always thought that gold was safer in the sense that, even if the economy collapses or inflation skyrockets, gold will retain a stable amount of real buying power. In less extreme scenarios, gold will under-perform compared to the general market, but in the long run, you aren't going to lose your investment with gold.

Is that incorrect?

 

[fried1765]

Dave Ramsey is as useless to me as a comb is to a bald man. Proof-One caller last year called and was concerned about the stock market when Biden gets into office. When Dave laughed at her and told her it doesn't matter who is in the white house I about fell off my chair. Lost allllll respect for his so called expertise. Yes it DOES matter who is in office and we will sadly see definite proof in the next couple of years of that. I dont want anyone's opinion on this either...just let time speak for itself ok.

You definitely DO understand the future our economy!
VERY SCARY !!!!

 

[MossRoad]

I always thought that gold was safer in the sense that, even if the economy collapses or inflation skyrockets, gold will retain a stable amount of real buying power. In less extreme scenarios, gold will under-perform compared to the general market, but in the long run, you aren't going to lose your investment with gold.

Is that incorrect?

If the economy collapses, no one will have money to buy your gold. Think about that.

 

[Steppenwolfe]

Dave Ramsey is as useless to me as a comb is to a bald man. Proof-One caller last year called and was concerned about the stock market when Biden gets into office. When Dave laughed at her and told her it doesn't matter who is in the white house I about fell off my chair. Lost allllll respect for his so called expertise. Yes it DOES matter who is in office and we will sadly see definite proof in the next couple of years of that. I dont want anyone's opinion on this either...just let time speak for itself ok.

The National debt has gone up 7.8 TRILLION dollars in the last 4 years ... That is $23,500 per person... Let that speak to you.

 

[Steppenwolfe]

If the economy collapses, no one will have money to buy your gold. Think about that.

Exactly... Lead will be highly desirable, though. :drink:

 

[Hay Dude]

I always thought that gold was safer in the sense that, even if the economy collapses or inflation skyrockets, gold will retain a stable amount of real buying power. In less extreme scenarios, gold will under-perform compared to the general market, but in the long run, you aren't going to lose your investment with gold.

Is that incorrect?

Absolutely correct. I have build up a nice retirement with Gold. Anyone who says _______ ________ says gold is not a good investment, I can find 5 more who say its an excellent investment.
Never gone wrong with it. Same with silver.

Opinions are like a-holes.

Gold has been around since the early ages of civilization. That speaks volumes over Warren Buffett and Dave Ramsey

 

[MoKelly]

Pretty soon Joe Namath will be selling gold on TV. Nuff said...

Hey! I always like Broadway Joe!

MoKelly

 

[Hay Dude]

If the economy collapses, no one will have money to buy your gold. Think about that.

If that happens, gold will REPLACE your vaunted fiat paper money

 

[drssg]

If the economy collapses, no one will have money to buy your gold. Think about that.

Unless the entire world economy collapses *someone* will buy it. If I was a wealthy man in Venezuela, and I kept all my money in cash, I would be broke today. If I kept all my money in gold, I could exchange it for a viable currency and go live somewhere else.

I don't invest in gold, but I always thought it was a hedge against real SHTF scenarios.

 

[MoKelly]

Stocks perform best when there's a split congress.

View attachment 684449

Wall Street loves gridlock. Means very little gets done. If something does get done it has to be supported by both parties - so the likelihood of it being anti-growth is low.

MoKelly

 

[Hay Dude]

Unless the entire world economy collapses *someone* will buy it. If I was a wealthy man in Venezuela, and I kept all my money in cash, I would be broke today. If I kept all my money in gold, I could exchange it for a viable currency and go live somewhere else.

I don't invest in gold, but I always thought it was a hedge against real SHTF scenarios.

Exactly. I have found gold to be very easy to buy, sell and keep an eye on current value. Same with silver. It has been an accepted form of currency for thousands of years. It is a precious commodity.
Its NOT something I would fill my portfolio with, its a hedge against inflation, which is all I stated it was in the first place.
With inflation/hyper inflation on the horizon, Gold is constantly an experts pick as a hedge against it.

Any clown can illustrate the downside of gold, but nobody can give a downside to it when inflation is out of control.

Gold has outperformed U.S. stocks over the past 15 years, with the yellow metal gaining an average 9.2 percent a year and the S&P gaining 9.05 percent a year with dividends reinvested.:cool2:

 

[MossRoad]

If that happens, gold will REPLACE your vaunted fiat paper money

No one is ever going back to the gold standard.

 

[MossRoad]

Wall Street loves gridlock. Means very little gets done. If something does get done it has to be supported by both parties - so the likelihood of it being anti-growth is low.

MoKelly

:thumbsup::thumbsup:

 

[MossRoad]