Silver has never outperformed inflation and indeed right now it is only two thirds of its 2011 high. Gold on the other hand follows a nice incline...yes it wobbles above and below, but the growth is consistent. You also don't need a warehouse to store it unlike silver...if you are thinking of accumilating a lifetime amount!!!!
I'd say it's the best type of pension because in the near future I reckon they'll means test the state pension no matter how many years you paid in, if you've been financially responsible through your life and accumulated some wealth you'll get nothing back
I thought I was doing well until you said you wanted a pension of at least 40k per year lol but I guess people live very differently in different parts of the UK 🤯🤯
I'm using gold as a supplement to my pension not as a replacement to it. I started stacking gold when i was 30, my original plan was 60 gold coins a(cquired when i am between 30-45 years of age) and cash one in a month in for first 5 years of retirement. I have significantly more than that now and havent developed a new strategy, ooos. I do use gold as a method of spending without spending . If you start later in life it may not be a good idea as PM takes a long time to increase.
The figures you state as examples are so far detatched from reality for regular wage earners. 40k/year pension - yeah right, if you're perhaps the 1% who are directors, top managers, etc. Lets say you're on a relatively high salary of 60k and total contributions are 10% for 40 years (non-inflation adjusted) That's 240k total. Even with some growth in stocks (unlikely in UK) that will not provide even a fraction of 40k/year. Our stock market sucks, 24 years of no growth and who's to say it won't continue for another 24. Look at Japan, no real growth since 1989. Some funds can get slashed if the company goes bankrupt or a pension advisor is crooked and you lose the lot (like my sister did recently). Real estate and gold are preferable. Capital growth and income from R.E. Both have flattened stocks since 2000.
I use it as a saving tool and to hopefully keep it's buying power better than cash in the bank. I'll probably start using it before pension age so I'm healthy enough to do what I want with it. I have a few private pensions but both my parents didn't even make pension age.
There are gold pensions you can invest in, but running costs are quite expensive, also lot of them require a large minimum amount £50/60k. Also only a few bullion dealers support these pension schemes. Got storage costs too as you can't take delivery of the gold. Only deal in gold bars too.
I just worry about in 30-40 years time when i want to retire, will this pension definitely be available for me? I’ve seen people get screwed over by their pension before, it does worry me
1. a pension is IHT free and if you die under 75, can be passed onto your survivors income tax free 2. I struggle with traditional savings, but I like owning physical things. 3. On the whole I don't use salary to buy gold/silver, but instead convert the value of assets I no longer need into a purchase of gold and silver. (I use funds from what I sell on ebay). 4. I should pay more into my pension! 5. is there not a place for the middle ground, buying etf gold/silver trackers? Exposure to Precious Metals, without the risk/burden of physical ownership? Great sunday night ramble!
Indeed, you are right on nr. 5: when needed hedge your stocks and other asset classes with PM ETFs - you can buy and sell ETFs in a heartbeat (with no premiums lost) unlike physical metals.
Great video as ever...one point I feel needed more focus was ability to liquidate...this is never an easy, transparent, liquid market and bid offer spreads can be mad.
My concerns about CGT free bullion, is if we adopt the Euro. After that I assume the pound would no longer be 'coin of the realm', and therefore CGT would apply
Unless you're buying and selling gold and silver by the ton , you will NEVER get rich from gold or silver , and anyone that tells you different is a fool
Gold doesn't provide a return, it simple isn't debased as much as fiat (7%). Bitcoin isn't debased as much as gold (2%). Gold's biggest advantage is being tax free.
I have 2 pensions i currently pay into a local government and an AVC pension,plus premium bonds and some gold and silver . Dont understand stocks and shares agree with BYB diversified investments and getting good advise is always best but think of this 30 years ago my first house cost me 10k the same house would be 95-100k do your research 😊
Yes...I bought my house for 100k back in 1999...gold then was around 5k per kg. My house is now worth 350k in 2023 and gold is 52k per kg.... 100k of gold bought in 1999 would now be worth just over 1 million.
Silver is a good pension option if you can avoid the premiums,if you can purchase under NAV(net asset value) discount,if you can avoid all taxes at the time you sell.Sprott PSLV in a Roth IRA accomplishes this… a closed end trust ✔️also secure,safe & liquid.
To sell 1 oz per month over a 20 year period in retirement you would need 240 oz worth of gold. I think that goal is going to be unattainable for most people. Well unless you start at age 20 and buy 1oz per month. But who has got £1,700 to £1,900 spare per month?
Good luck finding an advisor who will advise physical metal bying (no fees for him), he'll stuff you with up with an unalocated ETF or similar - thanks for the attempt at least thogh m8 as some food for thought I gues, like passing down to kids if I ever have any. Jon.
or move from the rip off UK to somewhere like Thailand Vietnam or Philippines in your golden retirement years, and live for 1/3 of price on an easy retirement visa
25 oz per year would be crazy, most individuals who stacked pms would probably have paid into a fiat pension anyway. I can't imagine even liquidating more than a single sovereign per month, that would equate to less than 3oz per year
When a guy actually MAKES gold and silver as a career tells you to keep your fiat currency investments and just add PMs to your portfolio when you can as a hedge to simple cash, you'd better listen up!
Purchase Link for CHEAP Silver Krugerrands:
backyardbullion.com/product/1-oz-silver-krugerrand-2023-in-capsule-by-the-south-african-mint/
I like your optimism about living 30 years after retirement unless your retiring at 50
Silver has never outperformed inflation and indeed right now it is only two thirds of its 2011 high. Gold on the other hand follows a nice incline...yes it wobbles above and below, but the growth is consistent. You also don't need a warehouse to store it unlike silver...if you are thinking of accumilating a lifetime amount!!!!
I'd say it's the best type of pension because in the near future I reckon they'll means test the state pension no matter how many years you paid in, if you've been financially responsible through your life and accumulated some wealth you'll get nothing back
I think your correct with that view , the govt will punish all savers as they do anyway....
They want us all to be penniless and state reliant
A good old fashioned heist
I thought I was doing well until you said you wanted a pension of at least 40k per year lol but I guess people live very differently in different parts of the UK 🤯🤯
I'm using gold as a supplement to my pension not as a replacement to it. I started stacking gold when i was 30, my original plan was 60 gold coins a(cquired when i am between 30-45 years of age) and cash one in a month in for first 5 years of retirement. I have significantly more than that now and havent developed a new strategy, ooos. I do use gold as a method of spending without spending . If you start later in life it may not be a good idea as PM takes a long time to increase.
The figures you state as examples are so far detatched from reality for regular wage earners. 40k/year pension - yeah right, if you're perhaps the 1% who are directors, top managers, etc. Lets say you're on a relatively high salary of 60k and total contributions are 10% for 40 years (non-inflation adjusted) That's 240k total. Even with some growth in stocks (unlikely in UK) that will not provide even a fraction of 40k/year. Our stock market sucks, 24 years of no growth and who's to say it won't continue for another 24. Look at Japan, no real growth since 1989. Some funds can get slashed if the company goes bankrupt or a pension advisor is crooked and you lose the lot (like my sister did recently). Real estate and gold are preferable. Capital growth and income from R.E. Both have flattened stocks since 2000.
Quite
24 years of non growth? What are you smokin?
I use it as a saving tool and to hopefully keep it's buying power better than cash in the bank.
I'll probably start using it before pension age so I'm healthy enough to do what I want with it.
I have a few private pensions but both my parents didn't even make pension age.
Awesome video. This is exactly why I stack gold and silver.
Things are about to do a switcheroo, very soon!
Big like number 2! Excellent video and thank you so much for sharing!
Thanks for the visit!!
There are gold pensions you can invest in, but running costs are quite expensive, also lot of them require a large minimum amount £50/60k. Also only a few bullion dealers support these pension schemes. Got storage costs too as you can't take delivery of the gold. Only deal in gold bars too.
I just worry about in 30-40 years time when i want to retire, will this pension definitely be available for me? I’ve seen people get screwed over by their pension before, it does worry me
1. a pension is IHT free and if you die under 75, can be passed onto your survivors income tax free
2. I struggle with traditional savings, but I like owning physical things.
3. On the whole I don't use salary to buy gold/silver, but instead convert the value of assets I no longer need into a purchase of gold and silver. (I use funds from what I sell on ebay).
4. I should pay more into my pension!
5. is there not a place for the middle ground, buying etf gold/silver trackers? Exposure to Precious Metals, without the risk/burden of physical ownership?
Great sunday night ramble!
Indeed, you are right on nr. 5: when needed hedge your stocks and other asset classes with PM ETFs - you can buy and sell ETFs in a heartbeat (with no premiums lost) unlike physical metals.
Great video as ever...one point I feel needed more focus was ability to liquidate...this is never an easy, transparent, liquid market and bid offer spreads can be mad.
My concerns about CGT free bullion, is if we adopt the Euro. After that I assume the pound would no longer be 'coin of the realm', and therefore CGT would apply
Amazing as all ways 💪
No for me. Thing that is always in back of my mind is I need someone to buy this off me at some point and that worries me.
Why does selling something worry you?
Good video very informative! Thanks!!!!
Unless you're buying and selling gold and silver by the ton , you will NEVER get rich from gold or silver , and anyone that tells you different is a fool
Everybody knows this and this isn’t what he’s saying nobody says it will make you rich it’s to conserve wealth
Gold doesn't provide a return, it simple isn't debased as much as fiat (7%). Bitcoin isn't debased as much as gold (2%). Gold's biggest advantage is being tax free.
So you invest in a pension. The money over is taxed when you release it as its classed as income. No such issue when you cash in CGT free bullion.
I have 2 pensions i currently pay into a local government and an AVC pension,plus premium bonds and some gold and silver . Dont understand stocks and shares agree with BYB diversified investments and getting good advise is always best but think of this 30 years ago my first house cost me 10k the same house would be 95-100k do your research 😊
Priced in gold,the value of your house has stayed roughly the same.
Yes...I bought my house for 100k back in 1999...gold then was around 5k per kg. My house is now worth 350k in 2023 and gold is 52k per kg.... 100k of gold bought in 1999 would now be worth just over 1 million.
Have yet to watch the full video. You never put all your eggs in the same basket.
1:10 haha, same. :)
Silver is a good pension option if you can avoid the premiums,if you can purchase under NAV(net asset value) discount,if you can avoid all taxes at the time you sell.Sprott PSLV in a Roth IRA accomplishes this… a closed end trust ✔️also secure,safe & liquid.
To sell 1 oz per month over a 20 year period in retirement you would need 240 oz worth of gold. I think that goal is going to be unattainable for most people. Well unless you start at age 20 and buy 1oz per month. But who has got £1,700 to £1,900 spare per month?
how do you store your giold and silver safley, do you pay for storage? or do you keep it in a safe at home? and if you do what type of safe do you use
Good luck finding an advisor who will advise physical metal bying (no fees for him), he'll stuff you with up with an unalocated ETF or similar - thanks for the attempt at least thogh m8 as some food for thought I gues, like passing down to kids if I ever have any. Jon.
or move from the rip off UK to somewhere like Thailand Vietnam or Philippines in your golden retirement years, and live for 1/3 of price on an easy retirement visa
Agreed, but we shouldn't have to though. Such is the sad state of UK affairs.
Wondering. How do you keep your gold? I see some in coins cases and some lose.
25 oz per year would be crazy, most individuals who stacked pms would probably have paid into a fiat pension anyway.
I can't imagine even liquidating more than a single sovereign per month, that would equate to less than 3oz per year
£40K a year is HALF decent !
Well then you need to have an ounce of gold to cash in each month for 25 years, that plus social security should get you thru.
good plan....how do i get 300 ounces, currently worth $660,000 , please.
@@DrSchor hahaha thats the trick!
If your 55 + you can take out 25% of.your pension tax free and buy gold.bullion.
When a guy actually MAKES gold and silver as a career tells you to keep your fiat currency investments and just add PMs to your portfolio when you can as a hedge to simple cash, you'd better listen up!
Great advice.... even though you're not an IFA 👍😉
Thanks my friend.