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How did you wake up?
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03-07-2012, 10:13 AM
Post: #48
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RE: How did you wake up?
Well, I woke up in July/August of last year. My senior year of high school I took a bs consumer math class (which was actually helpful because we learned things like how to balance a checkbook, investing, buying a car, interest rates, etc.) I remember we broke into groups and picked stocks to play in an imaginary account. This was January of 2000. Needless to say by April we were all done for. That was my first taste of the market.
My Dad had been a banker my whole life and talked me into making regular contributions to a brokerage account that was managed by a family member financial adviser. I put roughly 25% of my pay into this account every month only to have it LOSE money between 2001 and 2007. Go figure I found out later money was in Goldman Sachs funds.... I went on market hiatus from 2007 to 2010 due to an ex wife emptying our savings account and maxing out credit cards, then leaving me with the debt. In 2010 I returned from a second deployment overseas and another family member talked me into opening an options account and taught me the basics. Another bad move. I lost about $2100 with that gig. By this time my Dad had left the banking industry and became a financial adviser with a brokerage firm. He had talked me into managing my money during my deployment and I trusted him because he was family. This was a good move. He is the only former banker/financial services guy that doesn't cheat people out of money and tries to help them out. It's kind of weird, because he switched careers all of a sudden before the housing meltdown and I suspect it's because he could see what was coming (or the dirty things the bank was doing). Anyway, he made me a nice ROI. Between losing so much money over the last decade and having nothing to show for it, my feelings for the market were bitter hatred. Something just wasn't right, but I couldn't tell what it was. My new wife is ultra-conservative with money and would make the comment that she doesn't like the market because you never get to touch or hold what you buy. After rolling this through my head I had a "duh" moment and asked what she thought about investing in silver/gold. After buying our first ounce of silver last year she's been sold ever since - and I have, too. My first ounce was a 2011 Britannia for $48 last year. The rest is history. We have bought from that down to $27/oz with most of the buys between $27 and $33. We look over this site, Miles Frankin, Chris Duane and a host of others for our news and updates. I'll NEVER go back. Sure, it's hard not to share the "great news" with my Dad, but he's working for the Cartel and unfortunately brainwashed that paper is the answer. I feel more secure now than I ever have. When silver dropped recently, I didn't lose an ounce of sleep...or silver. Every available dollar is exchanged for metal and my wife is more supportive than ever. 401(k)? Please. We have "self-directed plans" in 100% metals and sleep better than we ever have. I woke up last summer. I'll NEVER go back and lose wealth to paper again, and I hope you won't either. |
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