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Post by ferris1248 on Apr 13, 2024 8:54:19 GMT -5
If you need gold bullion to purchase things, do you take a bar of gold to the store?
Get coins or small bars. Tenth oz is a good size. If you're buying it as a hedge, look at some ETFs.
Krugerrands smaller than 1 oz are good. tenth oz or quarter oz.
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Post by whitebacon on Apr 13, 2024 9:10:39 GMT -5
Don’t know much about holding gold but a friend of mine always has as a hedge against inflation. I have been told Costco has about the best prices. I actually may just try it. I wonder if there is sales tax charged on the gold. Sales tax would probably knock it out of the “good investment” area. 10-11% Around here. That added on the price would be crippling. www.fool.com/the-ascent/personal-finance/articles/should-you-buy-gold-at-costco/Negative ghostrider. Do not buy gold. Ever. Dumbest investment ever. If you are up in years, stick to a mutual fund that is a strict short term bond fund. Meaning they buy short term treasuries. You can earn 4-6% and not lose money. Gold is just dumb. Very dumb. If you want to gamble, I can park you in some solid companies and you can sell covered calls. You can do 10-20% a month with your eyes closed. Gotta have a CPA as the avalanche of paperwork will drive you nuts.
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Post by illinoisfisherman on Apr 13, 2024 9:28:23 GMT -5
Yes. I’m thinking it’s not for me. Sales tax, markup and cost of eventual resale would probably be around 15% at least. Hard to make up that difference.
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Post by illinoisfisherman on Apr 13, 2024 9:31:20 GMT -5
I’ve just had some money sitting in a checking account for over a year and I’ll be getting a little more in a couple months.
I used to buy more real estate so often that I never worried about it but now I’m just not hot on buying more properties. I have a son I relied upon for help but he has been having personal problems for a while and I can’t rely on him anymore.
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Post by illinoisfisherman on Apr 13, 2024 9:31:58 GMT -5
I’ve just had some money sitting in a checking account for over a year and I’ll be getting a little more in a couple months. I used to buy more real estate so often that I never worried about it but now I’m just not hot on buying more properties. I have a son I relied upon for help with the property but he has been having personal problems for a while and I can’t rely on him anymore.
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Post by ferris1248 on Apr 13, 2024 10:11:04 GMT -5
I’ve just had some money sitting in a checking account for over a year and I’ll be getting a little more in a couple months. I used to buy more real estate so often that I never worried about it but now I’m just not hot on buying more properties. I have a son I relied upon for help but he has been having personal problems for a while and I can’t rely on him anymore. Stick it in some short term CD. You can get 5 - 5.5 % on ones that mature in less than a year. It's available for withdrawal with some penalties or you can get a short term loan till it matures.
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Post by garycoleco on Apr 13, 2024 10:18:00 GMT -5
Go back 10, 20, or 30 years and compare the price of gold against any decent stock. You'll have the answer you're looking for
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Post by whitebacon on Apr 13, 2024 10:29:05 GMT -5
I’ve just had some money sitting in a checking account for over a year and I’ll be getting a little more in a couple months. I used to buy more real estate so often that I never worried about it but now I’m just not hot on buying more properties. I have a son I relied upon for help but he has been having personal problems for a while and I can’t rely on him anymore. Do you want me to scream it at you? You got solid friends here, me and ferris for sure, who are giving you free advice. And its good advice. Send me your money, and I will take care of it . 5% a year for old guys. Do NOT give your money to anyone. Anyone you don't trust. Anything you don't understand. Listen to me. Some of us here you can trust.
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Post by ferris1248 on Apr 13, 2024 11:16:05 GMT -5
I don't know if I'd recommend myself. I would recommend you get a financial advisor you trust and get your stuff in order so you can retire.
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Post by illinoisfisherman on Apr 13, 2024 12:19:35 GMT -5
CDs might be the way to go short term for me. It’s not much only about $250k but I don’t see me flipping any more properties from now on. I do ok as it is but $$$ just sitting seems foolish.
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Post by ferris1248 on Apr 13, 2024 12:22:18 GMT -5
That'd be a nice jumbo but if you think you might need access to some of it, I'd split it up. Maybe a 5 or 7 month and a 13 month.
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Post by illinoisfisherman on Apr 13, 2024 12:22:25 GMT -5
Thank you Me Whitebacon, David if you don’t mind me using your first name, for the offer of help. I truly appreciate it. I’ve been land land land so long it’s hard to change. But at 75 I can’t manage it anymore. Once more my sincere gratitude. - Ken
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Post by illinoisfisherman on Apr 13, 2024 12:24:27 GMT -5
That'd be a nice jumbo but if you think you might need access to some of it, I'd split it up. Maybe a 5 or 7 month and a 13 month. I get plenty of income so the only thing that I would need it for would be buying property. I’m just not going to buy anything else unless it’s a really good deal and the really good deals are now few and far between.
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Post by whitebacon on Apr 13, 2024 12:47:32 GMT -5
Thank you Me Whitebacon, David if you don’t mind me using your first name, for the offer of help. I truly appreciate it. I’ve been land land land so long it’s hard to change. But at 75 I can’t manage it anymore. Once more my sincere gratitude. - Ken Do you have facebook/messenger on your phone? If so, call me .David Campo. My picture is kissing my bird dog.
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Post by illinoisfisherman on Apr 13, 2024 12:54:15 GMT -5
I have never done any social media other than the forum.
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