Author Topic: Sunday night metal chat by dixiesilvergirl  (Read 142 times)

Dixiesilverminer

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Sunday night metal chat by dixiesilvergirl
« on: March 04, 2018, 04:21:18 pm »
Happy Sunday!

The weeks seem to go by faster as the years go by. Today I was thinking about long term metal plans and what our real goal is. Short version, our goal is to stack as much as we can for as long as we can, but then what and why? Well, for us it started as a way to gain added financial security in case SHTF and ideally that our retirement will be a little more comfortable.  That turns out is also part of the short version. We are about to enter a new stage of our lives, and things like that make you think.

 Our first Grandchild will be here in June and after seeing a few posts recently on various sites, I think the real reason is a  goal  to educate our kids, and grandkids and someday leave them a legacy and be the topic of an epic post by them saying “here is  what Mamo and Papa left us when they passed”

We both come from hard working middle class families and the thought of being able to leave something valuable and tangible for our kids and grandkids for their futures or as a family heirloom that many generations will be able to hear the story seems like a real win! Every day we do many things for our kids but stacking and money education is one of the best things I can think of.

What are (or will or did) you teaching your kids? What is your real stacking plan? Are you aware you could be creating a legacy to be passed down to future generations? Life is like the books we had in the 70’s, where you could choose your own story as it unfolds, What will your story be?
Thanks for reading and Happy Stacking!
DSG
-DSM

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Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #1 on: April 08, 2018, 04:19:12 pm »
With all the uncertainty of the current markets and the “trade wars” going on, you can watch tons of videos and read countless articles about how it effects precious metals and each one has a different reason and prediction. In Reality as of March 8th the date the new tariffs were announced silver closed at $16.49  today 30 days( an endless hours of analysing by so many ) later current silver spot price is $16.46.
   Have you been following the news and the market? Have you made any changes to your stacking plan? What about a selling plan if you need the cash? Do you have a solid plan or maybe you can just post it on Craigs list?


https://feedram.club/hashtag/craigslist


We always watch, not too closely but are aware of the market and try to follow the trends, but honestly our stacking plan has nothing to do with the market, other than we obviously like to buy if it goes lower and sell when it is higher. We are not making any changes to our stacking plan regardless what the market does, we buy as much as we can,  as often as we can and will hold until we have to sell or it does some crazy spike and we can retire on our own private island.

https://www.pinterest.co.uk/pin/234046511855521472/

After stacking for a while all the analysts and speculators start to sound like Chicken little and i think many of us get to the point where you really don’t listen to the hype and projections, As stackers we are more hands on people and there's no need to jump until something really happens. This time is a little different, we aren’t talking about a company and its stocks we are talking about world trading and the butterfly effects that will be happening globally.
I would love to hear your thoughts on this, please share them!

Thanks for reading and happy stacking!



-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #2 on: April 15, 2018, 03:52:38 pm »
Happy Sunday Everyone!

 This weekend seems to have become one for concern, when bombs start flying, the markets will really start to react. I think the Countries choice to send these bombs on a friday night was a calculated effort to limit the knee jerk market reactions as 48 hours is a lot of time for everyone to see how it plays out.
[ Guests cannot view attachments ]
https://imgflip.com/i/u7y74
In light of recent events, first anyone who stacks should be feeling a little reassurance that they have a hedge that most people do not in the event things go a little crazy. Second it is time to get prepared, because it is better to have a plan you never need then need a plan you never had. We took a physical inventory of our stack and verified our spreadsheet so we were sure we know what we have and where it is at. Next, we reviewed our security, as times get uncertain you have to be sure your ready for anything. Finally we verified our food and other preps, including servicing our generator and verifying fuel storage. We have chosen to store our preps and stack our silver in case of any issues, although you can’t be ready for everything at least it is a great peace of mind to know we tried and we have given our family a little edge.
[ Guests cannot view attachments ]
[ Guests cannot view attachments ]

https://www.pinterest.co.uk/pin/847732329830761829/

Are you as prepared as you would like to be? Did you change any of your plans or step up the stacking due to recent events? I would love  to hear your thoughts…

Thanks for reading and Happy stacking!


-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #3 on: April 22, 2018, 03:57:06 pm »
Looking at your whole Financial plan not just stacking, how big of a part of metal is your plan?
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https://cnsteem.com/steemsilvergold/@silverstackeruk/a-few-silver-stacking-memes-for-your-entertainment-just-for-fun-pt54-212

There are so many options and opinions on how to save, Some play the stock market, some with Crypto, many have a 401K that they really don’t know how it works but they watch the statements not go up the way they thought. Real estate is another tangible in your hands investment but usually the bank becomes involved and we all know they certainly are not trying to help you build wealth but keep you in debt to them so they can retire. Everyone here in the USA has Social Security deducted from their paychecks, and that to me is one of the riskiest investments out there, and with no early withdrawal option or the ability to choose your risk comfort level like you can with the work 401k, I have come to think of the money deducted as a charitable contribution, if by some slim chance i ever see that money again I will feel good knowing it did end up with someone needy-me! LOL






Our financial plan has changed over the 28 years we have been married but the end game has been the same, to create a life that we can be comfortable and happy and see our kids and grandkids happy too.

Is your current financial plan going to take you to the results you hope?

Thanks for reading and Happy Stacking!



-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #4 on: April 29, 2018, 04:38:45 pm »
Happy Sunday Everyone!
It is almost May, we are closing in on the halfway mark of the year, hIs your stack on track?
Are you meeting the goals you made at the beginning of the year?
We are on track at this point and even waiting on some packages,which is a great feeling, mostly



https://me.me/t/usps-tracking

We have bought a lot of silver, most of it for melting. We have however added a few coins we liked along with some community pours and gold for our stack. we have a great time looking and learning about all kinds of metal, the poured is obviously our favorite.
We have been watching a lot of silversmith videos and some of the antique pieces are just amazing, I think it would be awesome to own a piece of history so I would choose an antique soup tureen, they build those with full scenes and so much detail. Here are a couple of my favorites and a link to some other pics



http://www.bryandouglas.co.uk/silverware/soup_tureens/4834/4834a.htm


https://www.pinterest.com/pin/404901822730805536/

https://www.google.com/search?rlz=1C1ZKTG_enUS725US725&biw=1707&bih=796&tbm=isch&sa=1&ei=2knlWsPSLYnJ5gK-vb6YDA&q=antique+silver+soup+tureen&oq=antique+silver+soup+tureen&gs_l=psy-ab.3..0i24k1.6142.7590.0.9197.7.7.0.0.0.0.130.577.6j1.7.0....0...1c.1.64.psy-ab..0.4.364...0i13k1.0.D1t72VHhcZc#imgrc=_

 It is funny the longer we stack the more cool things we find and the longer our list becomes. So going against your stacker instincts for silver at spot and
If you could pick any piece(let’s pretend money is not an issue) for the art only what would you pick?  Please share your wish piece with us all below.

Thanks for reading and Happy stacking!


-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #5 on: May 06, 2018, 05:21:00 pm »
Hey! Checkout blog post on eSteem! esteem://steemsilvergold/@dixiesilverminer/sunday-night-metal-chat-with-dixiesilvergirl-5ec7a6c872ff4
-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #6 on: May 13, 2018, 04:27:13 pm »
As we discussed last week, we now have a new focus on why we stack and we need to begin thinking about what will happen to the stack when we pass away. Will the kids and Grandkids understand it’s real worth, will they keep the stack or will someone get a great deal on the items we spent years hand picking and enjoying.

What is your estate plan for your metal? Does anyone know what you have and what it is really worth? Can anyone even open your safe or get to your safe deposit box?

We have started to ask these questions, we have spreadsheet listing everything but it is on our computer. Although this is a great sheet, very detailed including purchase price and current market value at the moment no one but me really knows where it is and how it is set up. The miner knows however he and I are it. We have shared with our kids, our pieces as they arrive, but they are kids and do not really grasp the full picture They do not even have the password to the computer. We will have to put a plan in place to correct this such as printing things out and placing the papers with our important papers so the kids will have access when needed someday. We have talked about a family meeting to reinforce and educate the kids further on our stack, Have any of you done this with family? I can’t stop thinking that all the time and effort we are putting into it so they have an inheritance, it would be a shame for them to not fully understand what they are getting.  Not only that but you must also consider the
Options for leaving the items so that they do not have to pay it all in taxes

https://www.jmbullion.com/investing-guide/taxes-reporting-iras/capital-gains/
https://www.investopedia.com/articles/personal-finance/081616/understanding-taxes-physical-goldsilver-investments.asp

Maybe it is best to  just keep them on your boat, and hope for the best. As, The danger of your stack being lost at sea is always a possibility and the only way to end up not paying taxes that I can see.
I would love to hear others thoughts and plans for the inevitable..

Thanks for reading and happy stacking!
-DSM

Qwickdraw502

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #7 on: May 13, 2018, 06:21:23 pm »
Hello everyone. I'm new to this site and new to the stacking community as a whole. I just placed my first order and I can't wait until it gets in. Probably a little much for a first order, but I've been on the fence watching for a while and decided to dive in head first. I was first introduced to stacking a few years ago. I had a small stack of American Silver Eagles, American Buffaloes, and some other generic rounds. I bought them all from a local coin dealer for a horrible price. The guy really did a number on me. I didn't know any better and he took full advantage of that. About a year later I fell on hard times and had to sell. Still knowing just as much about selling as I did buying, the same guy took me for another ride. What can I say, you live and you learn.
I've been wanting to get back in for a while, but wanted to make sure I was more informed this time. After a lot of market watching, YouTube watching, studying, saving, and planning I decided it was time. I'm confident now that I can make much better decisions. I'm coming back in with more knowledge and a plan. I'm just looking for a way to preserve my wealth (and I'm using the term "wealth" very loosely here), hopefully have something to pass down to my kids, and have a little fun in the process. I know that there's still a lot that I don't know, and as far as my plan, well I guess time will tell. I'm sure I didn't stay on topic, but here's my intro to the group.

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #8 on: May 20, 2018, 04:38:57 pm »
Happy Sunday! It is time again for us to discuss metal plans, stacking strategy and goals.

We had a good week and have added a few more grams of Gold to our stack along with some more melting metal, we are very happy with our progress and feel that our goals are on track to being met. How is your plan holding up? Have you had to make any changes? Are you focusing on something special you are stacking? For us we are still stacking Gold as our main stack, mainly due to storage ease as we also have to store our melting metal, pieces in progress and completed pieces,

Last week I talked about the importance of making someone knows the full scope of your stack and it’s real value so that your heirs really get what you leave them, This is a tough call on letting someone know what you have with balancing security of your stack. Too many people know and it could be an issue, ideally the one you tell should be the one that will receive it or at the least distribute.

I briefly talked about estate planning so the government doesn’t take a large share, and so I did a little more research and learned the United States Federal government imposes an estate tax not an inheritance tax, this means the estate pays these taxes before the balance is distributed to the heirs.If an asset is left to a spouse or a federally recognized charity, the tax usually does not apply. And there is a federal gift amount that is exempt that changes year by year. It was $5.5 Million on 2017 but More than doubled for 2018 and is currently $11.8 Million. In addition, Some states do impose the inheritance tax Currently in the United States, 12 states and DC have some form of an estate tax here is a list I found(https://www.jrcinsurancegroup.com/the-complete-list-of-states-with-estate-taxes-updated-for-2018/) purely from google search and do not endorse anyone on this subject, i am just sharing my thoughts and journey as I research. This lists each state that currently charges estate taxes and the dollar amount of the state’s exemption to help you determine if your heirs are facing an additional estate tax liability. Keeping in mind this is for the total estate not just the precious metal values.
Connecticut – $2,600,000
District of Columbia – $11,200,000
Hawaii – $11,200,000
Illinois – $4,000,000
Oregon – $1,000,000
Maine – $11,200,000
Maryland – $4,000,000
Massachusetts – $1,000,000
Minnesota – $2,400,000
New York – $5,250,000
Rhode Island – $1,537,656
Vermont – $2,750,000
Washington – $2,193,000
Luckily for most people the exemptions are high enough so it is not an issue but reviewing this sooner rather than later is a good idea, especially if you live in any of the states listed above. And Each state has a different structure and fee schedule so you should check that out also For example, Pennsylvania imposes an inheritance tax in the form of a percentage of the value of a decedent's estate. Rates vary depending on your relationship to the decedent. Interestingly, Spouses and any children under 21 don't pay the tax, however direct descendants(ie, Grandchidren)  pay 4.5 percent, siblings pay 12 percent and unrelated people pay 15 percent. This is all something you should consider when planning your legacy, unless your entire treasure is lost at sea in a boating accident(which happens a lot I have heard) it is best to minimize the loss to your heirs and plan for what their taxes could be. 
In Comparison the USA is the 4th highest estate taxes globally as shown in the table provided by https://taxfoundation.org/estate-and-inheritance-taxes-around-world/
Table 1. Top Estate or Inheritance Tax Rates to Lineal Heirs in the OECD




Ranking
Country
Tax Rate
1
Japan
55%
2
South Korea
50%
3
France
45%
4
United Kingdom
40%
4
United States
40%
6
Spain
34%
7
Ireland
33%
8
Belgium
30%
8
Germany
30%
10
Chile
25%

So if you are reading this no matter where you live, it would be wise to spend a few minutes on a little research and for some of you to get a professional consultant to make sure things are in order. Most importantly always store your metal on your Boat!
https://media1.tenor.com/images/9bc4e49a8b998bcda5c48fdbbc3276ca/tenor.gif?itemid=8040162


Thanks for Reading and Happy Stacking!

-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #9 on: May 27, 2018, 04:30:24 pm »
Happy Sunday! This is Dixiesilvergirl with Sunday Night Metal Chat, I have been talking about our metal Goals and happy to say we are steady adding gold to our stack, waiting on a new mail call as i type!  I have also spoke about how you can leave your stack for your family when you pass, What if you have no one that will take care of the stack or know how to liquidate it or maybe you have noone you want to leave it too. Have you thought about how you could liquidate it and maybe take an awesome vacation or move somewhere you have always wanted to, your plan for your stack maybe for it to pay for your retirement. You need to be sure you have a plan on how you will sell and what your responsibility in taxes could be if you do.

I have seen tons of articles online on how to sell your gold, like this one:
https://www.kiplinger.com/article/saving/T015-C000-S002-smart-ways-to-sell-your-gold.html



It is important to know capital gains laws and be sure you do what you can to keep as much in your pocket for the fun you have planned!
 https://www.nerdwallet.com/blog/taxes/capital-gains-tax-rates/

Many countries have laws in place and no matter where you live you should check out the laws to be sure,
https://taxfoundation.org/us-taxpayers-face-6th-highest-top-marginal-capital-gains-tax-rate-oecd/
I would love to hear if your plans and if you have considered any of these consequences if you are going to use your stack as your retirement income.

Thanks for reading and Happy stacking!
-DSM

Dixiesilverminer

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #10 on: June 03, 2018, 04:40:41 pm »
Happy Sunday! I hope everyone is doing well and that your metal plan is on track. We were talking about do you have a sell number? After all don’t they say everyone has their price.


 If precious metals finally go up as so many predict the day is coming. What is the magic number that would get you to sell? if you sell what would you buy or do with the proceeds? We have talked a lot about it, we don’t have a set number, we have  no plans to sell unless it is needed.

Although the idea of needed can be subjective and can also be replaced with wanted, just recently we saw a post where the seller wanted a Nintendo Switch and another where they needed new tires. It is cool to see people using their stack to fund large ticket purchases instead of adding to their debt, to have the freedom to make those purchases with the wealth they had stacked.  We also love to see trades or purchases made with metals, Have you ever paid for something with silver? When our melting furnace got fried, we sold some metal and ordered a new one in a couple of days, it was a nice feeling to have that freedom.
 We have done several metal for metal trades and it is always fun. I would love to hear your thoughts on what would make you sell. Thanks for reading and Happy Stacking!
-DSM

saburus76

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Re: Sunday night metal chat by dixiesilvergirl
« Reply #11 on: September 21, 2018, 03:49:54 pm »
Gold is the money of Kings. Silver is the money of Gentlemen. Barter is the money of Peasants, while debt is the money of Slaves.