RE: Ready to Retire? Part 2, The RRIF Trap. 2015 $50 1 Troy oz. Gold Maple Leaf
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I once had a Retirement Account that I Cashed in, Paid the Penalties and Taxes and bought Silver and Gold... That was one of the Best Moves I ever made, since I was buying Gold for about 300 Fiat USD's per ounce... Silver was about what the premiums are going for today... I remember being thrilled when Gold went up to 400 per ounce...
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I recall some YouTube stackers doing the very same thing. Taking it on the chin for withdrawing their IRAs and stacking total PMs ten years or so ago. Looking back it took some guts to do but it was the right move in hindsight, and faith in the math. I'm glad you and those fellows had the foresight to do that. I was a newbie stacker but still clung back in the fiat world.
!BBH
!LUV
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I never felt smart, but I sure did a lot of smart things, now that I look back...
Eleven years ago, part of my financial enlightenment was realizing that there is a big disadvantage in maximizing my RRSP contributions. So I stopped contributing and let it stand pat. Those RRSP contributions went into gold and silver.
My Stack is actually worth more than my RRSP Account.
Hold tight, no matter what... The Prices of Silver and Gold are so low right now, that it's causing a Delay on the Reset... All the Billions coming into the United States is in the form of Silver and Gold... Mostly Gold... The 5 Million Dollar Gold Cards, will be bought with Gold, and 5 Million in Fiat will be handed back to the Gold Card holders, and used for Dream Building... As time goes by, it will take less and less Gold for that Gold Card...