tag:blogger.com,1999:blog-8964596045360803212.post4387186508656522326..comments2023-10-11T04:38:51.793-07:00Comments on Accept The Challenge: What's In Your "Personal Bank"?Chief Instructorhttp://www.blogger.com/profile/13604561415860237705noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8964596045360803212.post-16893480812016824952012-04-16T16:13:03.109-07:002012-04-16T16:13:03.109-07:00Pearls, I worry a LOT about how to make land prod...Pearls, I worry a LOT about how to make land productive. I've been a suburban guy my entire life. There is just so much to consider.<br /><br />Water sources, topography, proximity to neighbors, access, etc. State and local government regulations. I worry I'm getting Analysis Paralysis! <br /><br />Our purchase is probably at least a year in the future, so I just keep reading and trying to learn.<br /><br />One of the reasons we'll be leaving California is for property tax reasons. We've got this thing called Prop 13 which currently caps tax rates. I'm certain it will be dismantled so the cretins in Sacramento can keep their bellies full.Chief Instructorhttps://www.blogger.com/profile/13604561415860237705noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-34987848204418566782012-04-16T11:54:33.447-07:002012-04-16T11:54:33.447-07:00I agree... We buy silver, have some gold, but I se...I agree... We buy silver, have some gold, but I see gold as a "wealth holder" and well.... we arent "wealthy", but we do have plenty of assets. We have also used most of our disposable income to improve our land. Land is great, but if you cant do anything with it, well, its not worth much to you. And to improve raw land is expensive! Having several different ways to get chores done is vital. I also would recommend not OWING anything on land, improvements, house - anything with an adjustable interest rate has to go immediately. If the government is going to take what we have, its going to have to outright do it - not subtly making us lose the land for tax issues, debt, or the like.Pearlsnoreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-41705558133944161482012-04-14T21:47:27.973-07:002012-04-14T21:47:27.973-07:00TOR, I tell all of my customers that they should t...TOR, I tell all of my customers that they should think of PMs as a CD, IRA or 401k. It's not money you intend on using for a very long time. I have a target amount of PMs I want to have when I retire, with the intent of being able to "cash out" a set amount each month. I believe that the purchasing power of PMs will be maintained, regardless of the redemption rate. It may be $5000 an ounce of gold, or $50. I believe it will buy what $1700 +/- buys today.<br /><br />Oblio, yeah, it sucks. We have to make plans to lessen the destructive impact of the government that supposedly works for us.Chief Instructorhttps://www.blogger.com/profile/13604561415860237705noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-47062142754588490442012-04-14T11:20:18.205-07:002012-04-14T11:20:18.205-07:00Chief, I think you are right.Chief, I think you are right.Oblio13https://www.blogger.com/profile/08437467759652591125noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-55790612118630740682012-04-12T12:32:27.122-07:002012-04-12T12:32:27.122-07:00I think you have got to look long term. You have g...I think you have got to look long term. You have got to be willing to accept significant paper losses and gains as part of the game. Remember that you are buying X amount of silver or gold. It doesn't matter if silver goes down, an ounce of silver is still an ounce of silver. I bought a bunch (for me) of silver then it dropped from $40 to $26, lame but oh well. <br /><br />JWR recommends that you have a core holding of emergency/ barter metals. Get such and such amount of silver (and maybe gold) and do not sell it unless there is a dire emergency.<br /><br />He says you could then maybe dabble in investing in PM's. These you might buy low and sell high or whatever as the market dictates. However don't mess around with your core stuff.Ryanhttps://www.blogger.com/profile/09612373437033635765noreply@blogger.com