Why Gold & Silver Are My Pension: Can You Retire with Precious Metals?
ฝัง
- เผยแพร่เมื่อ 12 ก.ย. 2024
- #gold #silver #stacking
Thinking about your retirement and wondering if gold and silver could be the key to a secure future? In this video, I explain why gold and silver form a crucial part of my pension plan and how they can benefit you too! 🌟💰
Topics Covered:
Why Gold & Silver? Discover the stability and historical performance of these precious metals compared to traditional pension plans.
Supplement Your Income: Learn how to use gold and silver as a drawdown pot to supplement your lifestyle during retirement.
Diversification Benefits: Understand the importance of diversifying your retirement portfolio with gold and silver to protect against market volatility.
Practical Steps: Tips on how to start investing in gold and silver, including what to buy, where to buy it, and how to store it securely.
Risk Management: Insights into the potential risks and how to mitigate them effectively.
Join me as I share my personal journey and the reasons behind my decision to include gold and silver in my pension strategy. Don't forget to like, comment, and subscribe for more financial tips and strategies!
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#Gold #Silver #Retirement #Investing #FinancialFreedom #PreciousMetals #WealthBuilding #GoldInvestment #SilverInvestment #PensionPlan #SecureYourFuture #InvestSmart
Disclaimer:
This video is for informational purposes only and does not constitute financial advice. Always do your own research before making any financial decisions.
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Topics covered in this video:
gold, silver, retirement, pension, investing, precious metals, financial freedom, wealth building, gold investment, silver investment, secure future, retirement planning, alternative investments, gold pension, silver pension, drawdown pot, market volatility, financial security, portfolio diversification, investment strategy, gold and silver benefits, retirement strategy, safe investment, inflation hedge, stable investment, retirement savings, supplement income, investment tips, gold silver comparison
I retired at 50 yrs old and my only pension is 35 yrs of collecting precious metals. I've been living very comfortably since 2019 and look forward to living even more comfortably as the metals go up!
Do you store it all at home or remotely? Im thinking of doing the same now at 35 and im just wondering if im going to have to invest in extra security also?
Very worth while investing in a heavy duty safe at very least. Or a safe deposit box
Well, I'm in my nonage and look forward to the higher prices when I reach my dotage
@thesilentarchitect3682 CrazyBaker would indeed be crazy of he told you where he stores his horde of gold 😆
Hey Backyard !! Just started stacking myself earlier this month. Bought myself a Silver Eagle (BU) and a 5 oz. Sunshine Mint bar. Looking forward to adding on monthly and catching your podcasts.
One of the biggest benefits to holding PM's is that its invisible wealth and when things like state pension start to be means tested that will go a long way
My original plan was to have 60 gold coins and cash one in every month. For the first 5 years to supplement my pension.... I have more than that now 50/50 split full sovereign and full 1oz Britannia. I have one private pension that allows retirement without penalty at 60 and another that i thought would be 65 but now it will be 68(maybe)
I'm a bet spreader, so got physical PMs, stocks and Shares ISA, work pension, private pension that I choose the allocation on, and eventually plan to buy land to hold. Good job I like spreadsheets!
"Save your money, and your money will save you"
Been stacking for a while now and I banked right at 3 years income in precious metals so far. Three more years of Stacking until I retire! I can't wait to start slowly selling it back to support my many hobbies in my retirement.
I've been retired for 24 years with 3 indexed pensions and I have never stopped stacking. It would be difficult for me to give it up.
I don’t want to sound cynical, but IMO a pensions advisor will NOT recommend PM’s as they can’t take a premium from you. That’s what appears to drive their advice. Do some of the thinking yourself!
Many believe 5, 10, 15% or even as high as 20% of your overall pension “pot” is a good level of protection against both inflation and unexpected events.
In combination with the above, another measure is to aim to hold 60 Tr.Oz Gold and 500 Tr.Oz of Silver by the age of 60.
If you are retired and have over £16,000 in the bank, premium bonds, Isa’s or other saving products it may pay to invest that money in a physical asset such as precious metals.
The present Government have already hit pensioners, there is the possibility of National Insurance being payable on earnings if your still working, means testing for pensions is being mooted and with no increase in the personal allowance, within two years income tax is likely to be applicable.
Saving that money (when retired) for a rainy day is increasingly looking like saving it for the Government.
I agree with you completely. I have some buy to let properties obtained for future pension purposes that are now likely to get caned by a much more punitive CGT as well as a new Renters Reform Bill that takes all control of my assets away from me! I have been buying gold sovs and brits for the last few years to keep money away from my accounts. I can only hope they don't take CGT exemption away from UK gold coins!!!
@@chrislumb963 adding VAT as well would be a double whammy and probably decimate the UK gold market at the same time.
@@DeeCee-nb6ev Oh why did you have to say that, I wont be able to sleep tonight now as I'd not thought of VAT too!
Not only is it a pension but its also something to do in retirement, you can slowly sell them, getting the best prices, taking the parcel to post offfice and have a swift pint on the way back, better than golf. But i alaso see it as buying time, if your metals are valued at 2 years of your current income then you have bought yourself at least 2 years of life, the underpant scruffy beard years! Cant wait!
Valid point there,
I'm in my underpants with a scruffy beard at the moment, having been retired for 24 years. I'm still stacking thanks to three pensions.
@@meteoman7958retired for 24 years, on 3 pensions? Wtf man. Good for you, terrible for us suckers who missed such a f’ing gravy train
@@meteoman7958how many years should someone have to work in order to get a pension paid out for say 30-40 years? I’d say at least 50 (years working, not until age 50)
@@bidmcms3 I worked 32 years.
Presious metals can be volatile and unpredictable
I predict the uk basic pension will be very little. Those who have no private pension, because they didn't save or only rocked up to the UK 10 years prior, will get pension credits. A top up. Savers can go bollocks.
I plan to use some of my silver and gold towards my pension too.
A penny saved is more than a penny earned, because of the tax
100k soon my friend 👍🏆
Good job friend! I just passed that milestone myself earlier this year 🪙🪙🪙
Thank you for the video
Will have state,private and work pensions i always plan ahead plus pm's only been stacking 18 months its coming along nicely will keep till retirement and dip into them when needed for trips and such..
As someone who is looking to start getting hold and silver what would you recommend I start with.
Buying second hand silver bars or coins. Don't buy new. Or, skip silver all together and buy gold!
100 agree you need a little of both and sadly it does look like the government will be punishing those who have worked and saved to fund there retirement also looking at premium bonds as a addon to my monthly income
Its my pension too😊
If you retire at 57 and die at 95, you want 456 gold sovereigns a month as your precious metals pension. Current market price of $565 each sovereign, or $257k USD. If you started buying in your 30s that means 2 sovereigns a month.
Hey thanks a lot! Do you know how we can buy gold/silver in Berlin, Germany?
how do you achieve the brushed metal look on poured silver?
I'd say yes 100% if you've got enough
Nice chat, but the UK tax implications (particularly CGT on gold) are complex, limit how much you can sell unless all of your gold is UK coins and IMO requires specialist advice.
It’s not that complex mate just buy uk coins with a legal tender and don’t buy bars simple
@@jonodunn2592 and don’t exceed your CGT allowance in a tax year; nowadays that isn’t much to live on if that’s your early retirement plan
@@UKDark_Mark but that’s the point there is no cgt if you buy uk coins
@@jonodunn2592 if as you say you only hold Uk gold coins…… many of us don’t 🙂
Thanks for you insight my British brother. Hard manual labor? 😂😂 😂 ok, I guess
So if you saved £250k in a private pension and you croak it one month after you retire.... maybe a 25% for your spouse? Rather have physical £250k to your spouse.
That's not quite how pensions work, your spouse would get nearly everything in that case.
@@BackyardBullion Nope.
@@nickgardener5802 You can't just say "Nope"! Check with your pension provider. If you die that soon after taking your private pension then your spouse gets nearly everything! Its a fact, you cannot ignore that! State pension, sure the spouse gets nothing. Pension schemes are one of the single best ways to save for the future.
This is what death wills are for. I have instructions on where to sell easily and when to sell to ensure it does go to care for people who are clueless on its value. The same goes for bank accounts with money or life insurance.
How are you planning to beat the 40% inheritance tax in the UK? Work all your life for the tax man to take almost half of your already taxed savings away from your family. Any suggestions anyone?
Just give them a bag of coins seven years before you die or leave a note in your will to give them a private sealed letter I guess.
Your hoping it will be your pension but it’s not real until it’s realised
There will be no retirement. Everything you own will be confiscated.
😂 of course it will, flat earther by any chance?
Me? No. You? Undoubtedly.