Being frugal with money tips includes buying silver precious metals?

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20 күн бұрын

Currency is NOT money!!!
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DISCLAIMER: I am not a financial adviser. The videos on this channel are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments, and money moves, are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my financial journey, thoughts, and opinions with no guarantee of gains or losses on investments. Lauren T. Gage is a pseudonym from a very important family member of mine and I hope she is smiling from heaven and watching this journey as well. I'm learning, so any facts or information shouldn't be depended on. Please do your own due diligence and share any corrections with me. Thank you.

Пікірлер: 16

@SilverStruck 18 күн бұрын

You nailed it Lauren- metals is a great hobby- preserves wealth and teaches history at the same time 👍👍

@LaurenTGage 17 күн бұрын

Thank you @SilverStruck! You're channel and videos are in my family's top favorites!!!

@mattmichaels5195 16 күн бұрын

An important tip - keep a log book of every purchase with date and price you paid and what you bought.

@LaurenTGage 15 күн бұрын

This is a great and important tip! Thank you!

@natureboy1313 15 күн бұрын

My frugal tip. Have your wedding catered by a soup kitchen. We did and only paid like 65¢ a plate.

@LaurenTGage 15 күн бұрын

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@ALCAN52 15 күн бұрын

One thing I do is sweep my savings accounts and CD accounts once a year in October and add my Alaska Permanant Fund Dividend and buy gold. As of today I have just over 6150 ounces of silver and 210 ounces of gold. Ive been doing this since the 90s. Ive surpassed my gold holding's goal. Still need another 350 ounces of silver. When I started my goal was to acquire 100 ounces of silver for every year of life up to age 65 (6500 ounces). And acquire 2 ounces of gold for every year of life up to age 65 (130 ounces). These goals upon retirement at age 65 on average, if you liquidate these holdings over 20 years would equal the average Social Security check. I have savings in addition to the PM holdings as well as other investments but almost 40% of my total net worth is in gold and silver.

@LaurenTGage 14 күн бұрын

You've done absolutely awesome and this is a great and motivating example of what can be accomplished with goal setting, hard work, dedication, and time. I wish I had known you in the 90s to learn from you then, but I'm grateful to hear this now. My family is going to hear about your strategy and thank you for sharing. I will remember this.

@ALCAN52 14 күн бұрын

@@LaurenTGage Keep an eye open for good deals in gold and silver. As a general rule I only buy US minted gold. Over half my holdings are 1 ounce American Gold Eagles and the rest is in $20 AU Liberty's and Saints. In addition there is an anomaly happening right now where US minted Pre-1933 MS 62 $20 gold Liberty's and Saints are selling for LESS than a gold eagle. This shouldnt be happening. One reason it is, is because Pre-1933 US gold cant be held in an IRA but the bullion Gold Eagles can be. Any time you can get pre-1933 US gold near the same price as a gold eagle I'll take the graded pre-1933s every time. You might want to check out some of my videos because I did a few on this topic several years back. I need to do updates of those video as Ive acquired more and changed some views since doing the originals in 2019-2020.

@LaurenTGage 14 күн бұрын

I just subscribed to your channel! :) This is all great information. Thank you!

@cyclingphilosopher8798 18 күн бұрын

One of the most helpful frameworks to use when in doubt to (not) buy something is the hierarchy of needs according to Maslow. A roof over your head, food on the table and clothes to wear are simply necessities. For me, a good bicycle may not be a necessity, but is something that provides me a lot of fulfillment. Currently I'm still working with the portfolio I mentioned earlier. The US stock market is indeed overvalued, but that's mainly because of a handful of companies which are grossly overvalued. Equal weighted ETFs and international stocks are a bit highly valued, but not excessively. Have a look at the PE-ratio of the S&P500 and several equal weighted and international ETFs.

@LaurenTGage 17 күн бұрын

Hi Cycling Philosopher! Yes, definitely Maslow's hierarchy. For me, it's books and now precious metals before new clothes. :) At one point, my husband wrote a program for me that applied all of my math and formulas to the entire stock market. It worked and I was able to give each stock my own valuation that played out very well. I'm no longer trusting my past education as it sits which is why I'm looking at the stock market so differently now. I've got several new books to read and rabbit holes to explore. Once I navigate this maze, I'm hoping to combine my old and new knowledge and thinking to be share worthy. At that point, I will re-look at the P/E ratios again hopefully with more enthusiasm. Otherwise, I'm currently leaning towards "If I don't hold it, it's not really mine."

@cyclingphilosopher8798 16 күн бұрын

@@LaurenTGage I wonder what specifically about your past eduction doesn't sit well with you and what happened that makes you look at the stock market differently. My guess would be you're not the only one with doubts. Beware that solely focussing on tangible assets basically is a 'fear only' play and, thereby, not diversified. This increases the risk you're taking financially.

@LaurenTGage 15 күн бұрын

That's a great question that I'm working to answer for myself. After our health shake-up (2021), the medical industry looked very different to me and began my questioning of my thoughts and beliefs on everything. Since 2020, the markets haven't followed as I would have expected. Currently, with interest rates rising, global uncertainties increasing, and a very unusual presidential election scenario approaching to put it mildly, I don't understand how the U.S. stock market continues to grow to what looks more and more overvalued to me. I promise I won't focus solely on tangible assets long-term and will be sure to balance the allocation. I have unfortunately (fortunately?) become more risk averse, but will use that to focus on understanding precious metals as a hedge, but not a total basket. You're comments are always appreciated and a voice of intelligent reason that I value highly.