Retiring with Silver

Retiring with silver is a possibility. Anything is possible if you just take the time to explore the details. Retirement is something the every citizen looks forward to. Everyone has their own concept of retiring. Some like the fantasy of travel, others prefer to relocate to a warmer climate, and yet there are those who fantasize about having sufficient helath care while enjoying three good meals per day in their homestead.

Retiring with silver can help achieve those dreams. Owning bullion and physically possessing it theoretically can suppliment your other sources of retirement income, and it can do it well. I've tried to explain my thought process on retring with silver, we'll see if you can agree with this system.

Retiring 101

Retiring is defined as leaving your job due to age or financial stability. It is the goal of all working class individuals no matter their background. The concept of living comfortably with working for a living unfortunately is becoming harder to achieve.

retiring in the USAThe facts surrounding this era of our lives appear to make make retiring continually more difficult. Retiring 101 is a first look at reality for anyone thinking about their own permanent vacation.

Unfortunately, one in six older Americans lives below the poverty line. This ratio is expected to worsen over the next decade. As health delines with age, we may also need to consider assisted living. The cost of assisted living facilities has risen to an average of about $39,000 per year.

Americans 55 and older now account for over 20 percent of all bankruptcies, with the majority due to health care and funeral expenses for loved ones. Again health care costs will continue to rise and retiring will become increasingly difficult over time.

With living expenses, in general, on the rise, retiring will obviously become increasingly difficult if you are not prepared. Retiring requires consistent saving to provide for a time when income is no longer generated from your job or business. However, it is estimated that about 35 percent of Americans say they don't contribute to a 401K or IRA account.

can I retire
Can I Retire with Silver?

For most of us, retiring will require more than one income to support our lifestyles. Even those who contribute to retirement accounts and receive social security payments can benefit from a third leg on the stool. Retiring with silver as a suppliment may be that third leg.

Retiring with Silver Bullion

OK this is where the silver bullion comes in. Retiring with silver bullion is not only possible, the concept is multi-dimensional. It is within reach for the middle class working population due to its low buy-in price and it has the potential for helping one achieve financial independence in your non-working later years.

Let's break it down... How do you start? First take a look around the net and gather information regarding silver investment. Silver is sold in small as well as large quanities and it is available from a variety of sources. The sources include online mints and bullion dealers as well as coin shop which are conveniently located on the main streets of America. If you're careful, silver bullion can also be purchased from online auctions as well as estate sales and even flea markets.

silver bullion retirement portfolio
Silver Bullion in Your Retirement Portfolio

There is plenty of freedom when purchasing investment bullion. Start small at first and then concern yourself about getting into the investing groove. Identify the silver bullion that's right for you. Some silver buyers invest primarily in government minted coins like the Silver Eagle and Canadian Maple Leaf. Others choose silver minted from private mints, this can typically be purchase with a lower premium.

Some choose to invest in bars, the rectangular variety, and others choose to invest in rounds which resemble coins. Others are not so particular and will invest in an assortment of each.

Silver Bullion Premiums

Silver bullion premiums become your investment expense. This is somewhat of a non-recoverable cost. The premium is the amount added to the price of the silver to cover the minting costs and expenses of running an online store or a local coin shop. In other words, this is where they make their money on the sale of silver bullion.

Silver bullion premiums will typicall be higher on government minted coins than on the bullion bars and rounds that are minted privately. These premiums also vary among coin dealers and the online resources. Typically those with larger overhead costs such as advertisement, will charge the higher premiums on bullion.

Your best bet is to make a series of small purchases both online and locally. It will be fairly easy to determine the best value. You may also return to a particular source it is is deemed trustworthy. Bullion investors tend to get to know the local coin shop operators on a first name basis.

Build a Silver Retiring Arsenal

Next step, obviously, is to build your silver retiring arsenal. Your investment will accumulate over time depending how much or how little you buy. Depending on your personal budget, you can buy as little as a few ounce of silver per month or you can concentrate you bullion purchases when the market takes a dip.

Regardless of how much you invest, or how often you buy, the point is to buy and hold the silver in your possession. Storage options include strong-boxes and safes as well as strategic hiding spots in your residence. Some investors will use safety deposit boxes in the local bank as well, but keeping it on-hand is likely the preferred method for the majority of silver savers.

retiring silver arsenal
Build a Silver Arsenal before Retiring

Silver rounds and bars can be stored in tubes. American Eagles and Canadian Maples also store well in appropriately Sized tubes and boxes. Some coin shops showcase their silver in individual plastic cases to protect them from the air. These are cute but can get bulky if your are stacking the silver bullion in large quantity for future retirement. Bulky or not, these silver showcase capsules are great for certain collectibles though.

Most investors look to store their bullion in a location not succeptable to fire. This includes a fireproof storage box or safe or a room in the house that is least likely to be destryoed in a catastrophic fire. Silver melts at about 1700 degrees and a typical house fire can reach about 1100 degrees so in theory the bullion won't melt however it can be damaged therefore making it less likely to sell off easily in the future.

silver savings 401OK, once you've built your silver retiring arsenal and accumulated your bullion over a number of years, what next? This is where the tables turn. Now you visit local coin shops making test sales. Some a small quantity of silver bullion to each of ther local dealers in your geographic area.

This allows you to gauge how much they are willing to pay for your silver. Once you've determined the best source for cash income, you can then make your sales on a bi-weekly or monthly basis in small quantities. That's all there is to it...

Cashing in your silver in very small quantities will provide you with pocket money, grocery money, or rent money at a time when you need it most. This income is side cash in your pocket that has no correlation to your other sources of retirement income.

Important fact is that you own and hold the silver in your possession and you control how much or how little gets sold off. You control when you make the sale, right down to the time of day. Control is key because your personal situation may change in your retirement years and you don't want to find yourself at the mercy of others when it comes to putting food on the table.


See Also: Buying Silver Online | Silver Investing FAQ | Silver Investing 101 | Silver Showcase | Retiring with Silver | Silver in a 401K Retirement Plan | Coins, Rounds, or Bars | Get Rich with Silver | One Oz Silver Rounds | Where to Buy Silver Safely | Physical Silver VS Paper Investments

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