The price of silver; should you worry
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Some people start panicking when the price of silver and gold start going down. Don't look at these prices like they were stock. Realize a couple things.
1. No matter what, silver and gold can NEVER be worth $0.00. It is a product. It's not like a company that can go out of business and be worthless.
2. Just like the price of a home, does it matter if your house's value goes UP or DOWN $50,000? Unless you planned on moving, or you were a flipper, you're going to be living there anyway. The price of your house didn't go UP or DOWN. Not until you sell it. Same with silver and gold. It doesn't matter what the prices is today or tomorrow. Until you actually plan on selling it, you haven't lost or gained.
3. Remember; one of the main reasons for buying silver; and to a smaller extent gold; is as an insurance policy. It's there "IN CASE". So just like people who panic cause they see their 401K going down, unless you're retiring in the next couple months and need the money, YOU WANT THE PRICE TO GO DOWN!!!! The lower it is, the MORE you can buy for the same amount of dollars. So the fact that silver is at the $16 range, means you should be buying MORE than if it was at the $20 range.
I know many think of silver and gold as "Investments". They can be. (Buy low and sell high). But I am not a fan of having silver/gold in a 401K or IRA. There's absolutely no logic to that. Unless you're doing short term flipping and trying to make a quick profit, which I've NEVER recommended, don't worry about the price of silver and gold. If it's low,,,,, BUY MORE. It WILL keep up with inflation and be a hedge for your wealth. If the Shit Hits the Fan, it will be a great insurance policy. If nothing bad happens to the economy, then you'll be able to sell it later on when you're in your retirement years and offset your standard of living. Or, you can leave it to your heirs. The point is, there is no down side to the price going down. Not unless you're trying to be a silver/gold INVESTOR. Which I don't believe in.
For the person buying silver/gold to reduce debt or buy items at a discount; buying as a hedge against inflation; buying in case of a SHTF scenario, etc. the price going down isn't bad. It means you should see if you have any spare cash and buy some more.
CYA: SE
https://apps.appypie.com/media/appfile/97679f467564.apk
Some people start panicking when the price of silver and gold start going down. Don't look at these prices like they were stock. Realize a couple things.
1. No matter what, silver and gold can NEVER be worth $0.00. It is a product. It's not like a company that can go out of business and be worthless.
2. Just like the price of a home, does it matter if your house's value goes UP or DOWN $50,000? Unless you planned on moving, or you were a flipper, you're going to be living there anyway. The price of your house didn't go UP or DOWN. Not until you sell it. Same with silver and gold. It doesn't matter what the prices is today or tomorrow. Until you actually plan on selling it, you haven't lost or gained.
3. Remember; one of the main reasons for buying silver; and to a smaller extent gold; is as an insurance policy. It's there "IN CASE". So just like people who panic cause they see their 401K going down, unless you're retiring in the next couple months and need the money, YOU WANT THE PRICE TO GO DOWN!!!! The lower it is, the MORE you can buy for the same amount of dollars. So the fact that silver is at the $16 range, means you should be buying MORE than if it was at the $20 range.
I know many think of silver and gold as "Investments". They can be. (Buy low and sell high). But I am not a fan of having silver/gold in a 401K or IRA. There's absolutely no logic to that. Unless you're doing short term flipping and trying to make a quick profit, which I've NEVER recommended, don't worry about the price of silver and gold. If it's low,,,,, BUY MORE. It WILL keep up with inflation and be a hedge for your wealth. If the Shit Hits the Fan, it will be a great insurance policy. If nothing bad happens to the economy, then you'll be able to sell it later on when you're in your retirement years and offset your standard of living. Or, you can leave it to your heirs. The point is, there is no down side to the price going down. Not unless you're trying to be a silver/gold INVESTOR. Which I don't believe in.
For the person buying silver/gold to reduce debt or buy items at a discount; buying as a hedge against inflation; buying in case of a SHTF scenario, etc. the price going down isn't bad. It means you should see if you have any spare cash and buy some more.
CYA: SE
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