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what to do with money saved up???

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posted on Dec, 12 2009 @ 04:55 PM
reply to post by OBE1

I'm curious. How does one put their physical gold back on the market? If you had it delivered then at some point wanted to sell.

posted on Dec, 12 2009 @ 08:16 PM
reply to post by SteveR

You can sell to any reputable dealer Steve. Sometimes you'll receive a better bid from the dealer that sold to you. The larger volume dealers tend to have the best buy/sell prices , but they also require minimums. If you were to buy 1oz Eagles from Tulving (20oz min) at their current price and sell back to them (10oz min) , your overall premium would be about 3%. Smaller dealers buy singles & smaller lots , and the premiums run about the same if you shop around. Tulving and Apmex are two of the more popular volume dealers.

Ebay shoppers are currently paying sellers a premium of just under 15% for 1oz Eagles. Ebay/Craigslist can be good places to sell if time isn't of the essence , but obviously they are a poor place to buy. Some folks get good deals when selling to local coin shops , usually because they've taken the time to develop a relationship with the proprietor , buying a few coins here...a few coins there over time. Then of course there are private networking groups that emanate out of coin show circuit.

posted on Dec, 12 2009 @ 10:37 PM
reply to post by OBE1

Thanks, OBE. Very useful information. Gold investment and delivery seems like a good option for preserving wealth. But ofcourse, not at the current prices.

posted on Dec, 13 2009 @ 04:29 AM
reply to post by NickT916

My first thought was if you get along with your father, and he's okay with you there . . . okay, and the house is big enough, then why not just stay there. Keep half your money in cash at home and the other half invested in whatever you decide (gold, silver, bonds, CDs etc).

Unless your dad wants to be alone and the house isn't big enough for your privacy, why not just stay there. Especially if it's in a good location.

When you have a mortgage, you're strapped. If you can pay for a nice house with some property with cash, that could be a good deal. Privacy is important, but it's also a luxury.

I have no immediate family left, and my house is paid off. It's a modest home but has 10 acres and an awesome view of the mountains. If you're just starting out, try to avoid a mortgage.

Just my humble two cents. Wish you well.

posted on Dec, 13 2009 @ 08:04 PM
My weekend reading included a couple of posts that may help people fine-tune their long-term investment decisions.

From Jesse:

The Trend in the Freddie Mac US Housing Price Index

The trends show values will fall for four years through September 2013. Readers should take this estimate as an educated guess. The estimate may have greater relevance than forecasts described in mainstream-media headlines which typically fail to place new data within a long-term trend..."

Full Text

Economist , and itulip founder Eric Janszen doesn't make the MSM headlines like Roubini , or Schiff et al , but he was one of the first to call the past decade almost to a T.

Asylum Market

The propaganda that spreads misguided beliefs about gold is as ubiquitous as it is relentless.

Listen to Wall Street’s sales and marketing: Gold doesn’t pay a dividend. Gold doesn’t pay interest. Never mind that gold has not finished one year below its New Year’s opening price in more than eight years. Instead, to get rich go into debt to buy a house. Debt is wealth. According to economists, houses are cheap again three years after the start of the collapse of the housing bubble, a bubble that the very same economists in 2006 claimed didn’t exist.

Today the government will pay you $8,000 to buy one, the way they paid you $4,500 to buy a new car in October. Look how well that worked out for the auto industry....

Full Text

If you aren't familiar with the concept of FIRE economics , Eric Janszen coined the acronym 10yrs ago with little fanfare. FIRE defines an economy dependent on the blowing non-productive bubbles in the Finance , Insurance , and Real Estate sectors. In their profound wisdom MSM has mistakenly credited this concept to both Michael Hudson in 2006 , and to statements made by John Sexton in 2007.

No respect.

posted on Dec, 22 2009 @ 09:50 PM
Pay off all debt. Have a few months wages saved up in cash. Buy hard assets with the rest such as gold and silver. Even if the value of the gold and silver falls some, they will always be worth something. You can't say that about paper money.

Sooner than you know, everyone is going to have a collective vision, and realize the government stimulus isn't working, and the dollar is worthless. What do you think they are going to do??/ They will seek gold and silver as protection for their assets.
if gold and silver have been around since ancient times, as an asset protector, that's good enough for me. We really don't have a lot of safe choices left. good luck.

posted on Dec, 23 2009 @ 03:09 AM
A financial planner may be able to help you decide what you want to do with your money to make your finances better. I'd check into if some financial planners are accredited or not. Other than that, there is general advice about having several months worth of cash to cover all your expenses for at least 8 months or longer if you think it will take longer to find another job if you lose yours in this economy.

Then you can ask yourself questions. Would you like to own a house? You would have to take care of it and expenses and taxes associated with it. Are house prices going up in the area? How are the schools rated? How is the crime rate in the area? These are factors that affect future house prices. How big of a yard do you want? You may want to cut the grass yourself but you may not want to spend hours doing it. How much distance and privacy do you want between yourself and neighbors? For instance I live in the middle of a city and have a small yard and can cut my grass in about 30 minutes. However I hear the neighbor's music inside my house on occasion which is annoying. Owning a house has certain tax advantages.

It's worth your time checking those out if you get serious. If you're really worried about your cash, you could search for a book called Conquer the Crash sold by the elliottwave folks or search for a list of safe banks. Some banks are safer than others. If you kept all your money in gold, then you would have to worry about someone stealing it. If you kept 10 percent in gold as insurance, you know you would still have something of value if everything fell apart. If you're worried the government might confiscate gold like they once did, you might consider something like I heard good things about them but haven't checked them out myself in too much detail.

I'm not a financial planner and all of this advice on a conspiracy site might only be as good as what you paid for it.

Extra note: If you decide you have a certain amount of money for a downpayment, plan for several thousand extra to fix up the house. You'll first need to evaluate your income and expenses before deciding upon how much house you can afford or what. Taxes and insurance will add to your monthly mortgage. Utilities will be much higher for a large house. Then there is fire insurance, life insurance, etc. etc. You don't want your monthly house mortgage to eat up past a certain percentage of your monthly income otherwise you'll be struggling for cash to pay your bills at the end of the month. After you figure all that out, then you can decide how much you can set aside each year in a tax advantage IRA account or what you want to do with extra monthly income. There are tables or information available for how much you need to save each year to have 75% of your income available after you retire.

Figuring out all your future monthly income and future expenses and writing it all down and totally it up is a good way to start. Some people bought a house so big that it took up most of their monthly income so they end up in an expensive house with very little cash left over to go out to eat.

[edit on 23-12-2009 by orionthehunter]

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