Sky Is Falling! Losing Your Shit? Silver FTW.

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darbsllim

darbsllim

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Mar 28, 2008
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London, Ontario
Just a little advice for people who are really killing it right now. Lets say you took some trips, bought some gadgets, paid your taxes and now you have a bit of money left over.

What are you going to do with that extra money? Are you going to eat it? Are you going to buy more monitors? Lease a new car maybe? Or just let it sit in your account and collect interest while you make more money?

We're in a very turbulent place right now, and if you have a shitload of money in the bank, you should look into investing into precious metals and income properties.

Who knows how much longer IM will last for, if you're doing 20k a month with IM or more, you know that you have slow months...well what happens when those slow months start to outweigh the home run months?

You don't want to end up being one of those people who say "I used to work from home", "I used to own my own business". "But now I sit home and rub my wagenheim all day".

Take some of your money and invest it! Put your money to work for you a la Robert Kiyosaki of Rich Dad Poor Dad.

If you are competent enough, and have enough cashflow, buy some income properties, some 3 or more unit apartment buildings. It doesn't matter how bad the economy gets, people will always need a place to rent.

In fact, the worse the economy gets, the more apartment buildings will rise in value because more and more people will be selling their homes and renting.

However, this can be a daunting task so if you are looking for something a little more simple, invest in precious metals.

Silver is at a really low price right now, it's the perfect time to get in. A couple months ago it was down to close to $9 an ounce, and 6 months ago it was up to $20 an ounce.

Right now it's about $13 an ounce.

Silver is really valuable right now, it will hold its value and it will only grow in value as the economy gets worse.

If you can afford gold, invest in that too. Gold is getting close to $1000/oz again after it spiked last year that high, and many people are estimating that it will reach as high as $8000/oz in the forseeable future. Just 6 months ago it was near $700 an ounce so it's growing again.

As the dollar is losing value, and trillions are being spent on bailouts, people are losing confidence in fiat currencies, gold and silver and other precious metals are gaining and holding strong.

So if you haven't already invested in Gold or Silver, go do it before you can't!

It's already starting to become a hot commodity and if you check ebay it's rare to find gold and silver selling for their spot price. It's a frenzy out there, so definitely start buying some gold and silver before it's too late.

If you can't find any good deals at the banks, or ebay, check local coin shops. You will probably pay way over spot price but so will anyone who buys it from you...

Robert Kiyosaki says to hold at least 5% of your total assets in gold and silver.

If you're in Canada, you are lucky because you can go to the bank and buy gold and silver for just a few percent over spot. I'm not even sure if a lot of US banks even have any gold or silver left, last I heard it was damn near impossible to find gold or silver at a US bank.

I heard Robert Kiyosaki say 2 years ago that if someone were to take $8000 and put it into Gold and Silver, in about 10-15 years it will be worth enough to buy a house.

Food for thought!
 


Good advice, just be careful with those markets. They're volatile as fuck.

Short term investment wise Gold and/or Silver are shitty. Volatile and not liquid. Long term is alright, but buying right now isn't going to be pretty. 5% is OK but putting anymore in right now is going to hurt. Gold went up A LOT in the past three months, it's not staying there, people will profit very soon and it will fall back a decent amount. I'd be suprised if gold goes much over $1k.

It's definitely good advice to get into gold seeing the profits people have taken, just not right now IMO. I wish I would have gotten in at $400/oz a few years ago. Don't think I'll be buying again til its a lot lower than it is now though.
 
lazar said:
Good advice, just be careful with those markets. They're volatile as fuck.

Short term investment wise Gold and/or Silver are shitty. Volatile and not liquid. Long term is alright, but buying right now isn't going to be pretty. 5% is OK but putting anymore in right now is going to hurt. Gold went up A LOT in the past three months, it's not staying there, people will profit very soon and it will fall back a decent amount. I'd be suprised if gold goes much over $1k.

It's definitely good advice to get into gold seeing the profits people have taken, just not right now IMO. I wish I would have gotten in at $400/oz a few years ago. Don't think I'll be buying again til its a lot lower than it is now though.
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I don't know man I think physical bullion is pretty liquid right now. The demand for silver is so high now that people are paying way over spot for it.

If you search for completed listing on ebay for gold and silver you'll see that it's going for way over spot.

I agree though it's meant to be more of a long term investment, and I resonate with that $400/oz thing, I had a bit of gold back when I first got into making money online and spent it all (had egold).

Gold may have gone up a lot in the past 3 months, but the previous 3 months showed the same cycle. I'm not so confident that it won't go higher. I think with all this financial turmoil, it's going to keep rising.

However Because I saw it at $700/oz recently it's definitely preventing me from wanting to buy more at the $1000/oz levels its at right now.

I'm waiting for it to spike back down as well before I buy some more, but who knows if it will!
 
If gold goes anywhere, we're all going to be dead anyways.

Buy land, buy guns, buy ammunition. Stockpile food and stuff you need to make it.

Or live in the real world and invest in entertainment. People will spend their last 5 bucks on a good movie. Escaping from real life is what people do in a depression.
 
jdomaha said:
If gold goes anywhere, we're all going to be dead anyways.

Buy land, buy guns, buy ammunition. Stockpile food and stuff you need to make it.

Or live in the real world and invest in entertainment. People will spend their last 5 bucks on a good movie. Escaping from real life is what people do in a depression.
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I like your style man you're right, entertainment I think is recession proof. That's why I'm also in the film business and game business. I wrote, produced and directed a horror film this summer which is currently in the editing process and I produce casual online games, which has really been solid as a rock through the whole economic crisis.

My buddy invests in guns and ammunition as well, also a great investment.

However bullion is also good to sink about 5% of your assets in, it's like insurance. Armageddon doesn't have to happen for gold to hold it's weight or even grow in value.

Good point though, I like your suggestions it's all good. Lets have some more suggestions.

What do other WF members invest their money in besides rare chocolate?
 
jdomaha said:
Or live in the real world and invest in entertainment.
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UK calls on sex shops and bailiffs in slump | Business | The Guardian

One industry appears to be holding its own, however - the figures reveal a sharp increase in number requests for sex shops, lap dancing clubs and escort agencies.
...

Calls for debt collection agencies were up by 67% in the first two quarters of this year, calls for insolvency practitioners up 65% and requests for credit card company numbers up 135%. For estate agents it may come as little surprise that calls for surveyors were down 18%, estate agents by 6% and removals 20%. An increase in calls for trade unions (73%) and army recruitment (60%) may also reflect a fear of rising unemployment, the harsh reality of which can be seen in the number of calls for au pair agencies (down 98%) and domestic staff, such as cleaners (down 65%).

..


Requests for pole and lap dancing outlets were up 469%, calls for escort agencies increased by 40%, while calls for sex shops increased by 1,312%. "I hesitate to say that the UK has gone sex mad, but the figures do seem to paint their own picture," said Ostrom.

Requests for other leisure activities are also surprisingly buoyant, with calls for karaoke bars up 96%.
Click to expand...
 
Gold seems to be on an unstoppable bull run. I invested in gold a few years ago, and it's nearly doubled since then.
As long as the economy keeps declining(and bailouts keep increasing inflation) gold will keep going up up up.
 
Some of the advice in this thread is very bad.

If you buy metals, do not buy paper. If you do buy paper, make sure you buy it outside the US and Europe. But paper from the Perth Mint.

Now is not the time to buy property. There is going to be a surplus of housing and commercial real estate by the end of the year. Investing in property is boom time mentality. It will bust you now.

If you invest, invest in things which will sell during economic hard times. Do research on the depression. Do research on the late 70s. Find out what the winners were. Property was not one of them.
 
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Listen the sky isnt falling, nor will the US dollar devalue so much that it will be worthless. But precoius metals is always a good thing to have for a rainy day. Buying them now isnt the best of ideas since they are inflated, but there still seems to be some upside on them. I have been in the (adult) IM space since 1999 and have been buying gold coins and american eagle silver dollar mint rolls since then . My avergae price on them is around high $5 per silver dollar, so im banking now if i sell them ( i have alot of them).

But i have stopped buying gold and silver when the prices skyrocketed, and wont buy until they come back down a bit. Gold and Silver always follow a cycle, its best to buy on the dips and sell at the height.

Ive been buying domains, still to me the best bang for the buck. People get scared and sell cheap, just like 1999-2000 when top line domains sold for pennies on the dollar.

Domains are like Real Estate, they will go up and go down but still appreciate in value if you have quality domains.
 
I'm not in the tin foil hat crowd, but hurricane Ike is still fresh in my memory - so while I do buy a bit of shiny stuff (real, not paper) every month, I would also advise you to:

Take a cupboard or space in your garage and put together an emergency kit with :
1. Source of light when the power goes out. A radio - and plenty of batteries (look for sales now) - believe me, that radio will be on constantly, and you will be glued to it.
2. Empty ice chest for ice - that will be like gold when it is 100 degrees and the power has been out for a week.
3. Canned food (and don't forget canned or dried milk - 'cause that was impossible to find) for a couple of weeks. Also get paper plates, paper towels and stuff 'cause you will not want to worry about washing - and of course, bottled water!
4. Some way to cook amd / or stay warm (staying warm was not a problem during Ike).
5. Oh yeah - and some cash. When the power goes out, so do the ATM machines.

What I learned was the government was a hopeless mess that couldn't deliver ice - 17 trucks to a city of 3 million people - but neighbors were great! We threw together dinners on the street with everybody donating cans of chile, hot dogs (if we had them), chips, drinks, or candy.for kids.. it turned a nightmare into something endurable.

You want to be the guy (or gal) with something to contribute if it is a bag of charcoal or a can of chile. Some kids came by to join the party without their parents because the parents had nothing to contribute and were embarassed.

Of course, we fed the kids - but you know - if it would have gone a lot longer people would start just taking care of their own kids or those who gave something back.
 
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