Pay Off Debt BEFORE Buying Gold?

[@2is1gold]

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[@sinkher1st]

Always buy even w mortgage.

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@dilara4130]

I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but l'll also have at least one pension, a 403 (b) and a very prolific Investment account with my Stephanie Janis Stiefel my FA. Retiring comfortably in the US these days is almost impossible.

[@KarencitaSacher]

I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.

[@SissyJosito]

Which country are you moving to? I’m planning on moving to Manila.

[@ohmakure4716]

I went from no money to Invest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Stephanie Janis Stiefel. I am at $128k right now and LOVING that you have to bring this up here

[@LuuzbelitoPirogovsky]

I have a sister in sri lanka, shouldn’t be difficult for me to settle in there after retirement

[@DhaliaKaimkhani]

How can i reach her, if you don't mind me asking?

[@Andreasy2]

Stop buying gold if you want to stay poor

[@edb3877]

Lots of people refuse to build their wealth up via the stock market but I found that to be an amazing way to grow my wealth, both in retirement plans and in taxable accounts. Thanks to my 401k plan at work, I was able to retire comfortably at age 55, something that I never could have done simply by saving alone. One of the comments that comes up in retirement plan discussions is, "When someone offers you FREE money, TAKE IT!" lol

[@PeacockRhino]

If your debt is denominated in fiat at a fixed, reasonable interest rate then it will depreciate over time as gold likely will hedge. Nothing wrong with modest purchases of gold.

[@C-130-Hercules]

The opposite is true. You should be buying as much gold is possible right now. Because the debt you have will depreciate overtime as gold increases in value. Then you can use one of your gold coins to pay off your debt.

[@touch3010]

More than 1 coin, lots more. Gold has been relative thru the ages. Back in medieval times 1oz gold would buy a good armoured suit. Today 1oz gold will buy a very nice suit

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@mattsenica5227]

Depends on how much debt you are talking about and what type of debt. High interest rate credit card debt, yes pay off first. Now home loan or car loan as long as it is under 6% you should not pay off first. Better paying the minimums and make as many purchases of PMs as possible

[@C-130-Hercules]

@@touch3010 Why would it take more than one coin? If the debt I have is not changing but the value of the gold is changing then why can't I wait until one coin equals my debt and then just use one coin? Why do I need more than one coin? I mean seriously, if my debt was the equivalent of 1 ounce of gold. Why do I need more than one coin? Let's say the debt is $10,000. And then in the future the coin is $10,000. So why can't I just use one coin?

[@C-130-Hercules]

@@touch3010 I see you have been studying. The example you presented is some thing I have read myself. 100 years ago and ounce of gold would get your house painted. It was worth $20.50 back then. That's what it cost to paint your house back then. Today it cost about $2500 to get your house painted. And 1 ounce of gold will still get your house painted. What that example is showing is that the value of gold never changes. Only the number of fake dollars that buy it changes. Hidden secrets of money on KZbin is one of my favorite series. I watched Mike Maloney 10 years ago. I highly recommend the series to anybody who wants to learn about the system they are participating in every day.

[@jeffsurfanderson]

The gold is going up higher than your interest rate on your mortgage you should be buying gold and in the long run you'll be able to pay off your loan faster when you cash out the gold

[@SandstormGT]

​@@_outofphase5480sure thing bud

[@jillybe1873]

That's just gambling

[@michaelfelderman915]

@@_outofphase5480who is paying taxes on gold? 😂

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@edb3877]

@@michaelfelderman915 Mostly those who don't want to end up broke AND in prison.

[@bo_dink]

Payoff credit card & consumer debt first before buying metals. Then buy metals weekly, monthly, etc as a savings account. You could also pay an additional payment once per year on your mortgage to reduce the term. The key is to use metals as a savings account with money that you won't need in the near term.

[@tom-c1j2p]

EUROPE, RUSSIA, CHINA, NATO, WORLD HEALTH LIARS ...PLOT THICKENS, SERIOUS NEWS BLACK OUT

[@wasillastacker]

Cannot be said any better!!🫎🫎

[@salk12345]

Best advice thank you

[@smashz51]

If you pay extra on a mortgage, and don’t get it all the way paid off…. You can still lose your job and get foreclosed on. If you keep it in cash, or equivalent, and lose your job you can at least liquidate to buy you time

[@thomaschew2191]

You will not lose your home due to a job loss if...you have an emergency of fund 3-6 months expenses and/or you do whatever you need to do to get new employment pronto. If owning a home was contingent on not losing your job, few would ever successfully pay off their mortgage.

[@im4blujax]

Don't forget the scurrilous property taxes that could take your home from you, even if it's paid off!

[@daviddavey1727]

I have stopped at least on the full ounce level. I’ll continue fractionally as I can afford.

[@Goldylocksss]

Sensible👍🏻👍🏻

[@jaybarr3307]

Ditto

[@oldsilver69]

Buy pre 33 5 dollar gold piece

[@chesterstock7163]

Definitely....me too!

[@edb3877]

@@oldsilver69 My Grandfather once spent a $5 gold piece that was dirty and nasty looking as a nickel... for a cigar. Back in those days, he could have bought an entire box of cigars with that $5 half eagle. He never really forgave himself for that mistake and was quite bitter about it. 😕

[@joeyr2720]

Paid off the house

[@2is1gold]

Good feeling.

[@t.daniel5003]

You'll need your gold to pay property taxes that will skyrocket!

[@B4SHTF]

Debt, gold, silver are tools. You need to understand them to use in each use case. Know your baseline and reasons for buying.

[@2is1gold]

Agreed 🤜🤛

[@christianmuller292]

Know mainly why central banks are buying gold by the ton and who's buying it. Also realize what BRICS is and how it'll take over the financial world in the future. It already has in a way but behind the scenes. There's no one to stop them. And maybe that's a good thing, seeing the US lose the power, the too much power it took after World War II.

[@dukenukemani07]

I've been telling stackers for months to go fractional, not full-ounce gold because it's getting too expensive. They whined about premiums and accused me of being impatient and spreading bad info. Well, look where we are now! I paused my buying to take care of other obligations and I can only hope things calm down and spot price becomes more stable by the time I can resume buying.

[@gwynedd1]

Nothing wrong with full ounces but fractional 1/2 and 1/4 ounce are starting to look like whole coins lately for sure.

[@dukenukemani07]

@@gwynedd1 That's what I been trying to say. Buy whatever you can afford, because when gold reaches $3000 spot, then $1700 for a half-ounce of gold will be ALOT easier to buy than a full ounce for around $3200. The least popular gold coin size, the half-ounce, will finally shine. Not a matter of if, but a matter of when and I'm positive it'll happen sooner rather than later.

[@edb3877]

I also buy fractional gold coins and have been doing so for some time. This is my business and not anyone else's to criticize. If fractional doesn't appeal to them or work for them and their situation, then don't buy any. It's as simple as that. But it does work for me in both 1/4 oz. and 1/2 oz. sizes. I don't buy any 1/10 oz. gold coins but for those who like and buy them, they're fine. But for all the talk about gold being "too expensive", let's all calm down a bit and try to understand that this is EXACTLY why we are buying gold in the 1st place. We expect it to go up in price over time and it is doing just that, so what's the problem?

[@mtsky-tc6uw]

who cares--i bought 50 k of a mix of gold/silver stocks --i am up to 130 k in less than a year--who knows what it will be in another year but the gold/silver could go rocket like in 6 months

[@dukenukemani07]

@@mtsky-tc6uw What are you going to do when nobody will buy your 1oz gold coins except your LCS for under spot because it'll be too expensive then?

[@TheThreadofLifeInc]

The answer here is simple. There are assets and liabilities. If all you have is liabilities you lack balance and your debts will be payed down much slower. Buy all things responsibly and things will turn out ok. Sleep easier at night knowing that you’re backed by assets just in case you get in a jam.

[@DanCooper404]

🤜🤛

[@DavidSmith-ox4tu]

I was buying gold in the mid 1980's I have been buying all the way to this last july. I have no regrets or debit. I was buying when I had debt the two are and should be considerd sepratly.

[@2is1gold]

🤜🤛

[@stevebrusseau3301]

Good for you...I wish someone would of told me to purchase gold back then .

[@joeyflores8809]

Makes me wish I got into precious metals earlier but better late than never I suppose

[@dukenukemani07]

any gold is better than no gold at all, so if fractional is what you can afford, then go for it. 👍

[@joeyflores8809]

@@dukenukemani07 yeah only about to put a little here and there towards it.

[@dukenukemani07]

@@joeyflores8809 That's the way to do it. 👍

[@creepingcharly]

This is my sentiment as well. Wish I would have put more into gold instead of my 401K

[@ReeferGil]

It's exciting to see gold climb. At some point, I think coin shops will find it hard to offload one ounce of gold. I fear buy-back prices will be well below higher spot prices. Fractional gold seems to be the way to go moving forward despite the higher premiums. I'm just thinking out loud.

[@2is1gold]

Seems to make sense, but coin shops always tell me the same thing - they sell way more 1oz than anything else.

[@ReeferGil]

@@2is1gold It's just out of reach for me. I'm six 1/2 oz coins away from filling a tube of 20. The price of 1/2 is almost at the price I started buying 1 oz coins, lol.

[@rogersrealestategroup]

For those still interested: learn about amortization tables, tax implications, and velocity banking... Great video as always. Buying gold is always a good idea.

[@TheToolBoxWhisperer]

You are absolutely right. Everyone should file bankruptcy and use that money for gold.

[@aloksrivastava7938]

Gold has hit $2,649 at the moment.

[@JasonDeville-fi4dh]

Making like 3k per day off gold pretty much. Just off gains

[@glenh4971]

Check the Kitco price. It more accurate.

[@jamessteele2825]

Try selling it 4 that

[@maryperrysmith5815]

Oh my gosh

[@jake8077]

My stool is mostly formed, at this moment

[@straightblast100]

I might have missed it...but I didn't hear anything mentioned about the inflation factor devaluing mortgage debt. In most cases, the value of the loan is fixed, and servicing the loan gets easier as wages increase over time. An owner is laughing at the payment they once feared in the later years of the term.

[@2is1gold]

Yep, it's a big factor.

[@BrettDieter]

I personally agree with what you stated; Everyone has their own personal set of variables to consider, of course. Considering metal prices, specifically golden silver, and the artificial suppression by the central banks and the Comex- paper market; I would not let the fact that gold is at an all-time high discourage one from buying, because factually both gold and silver are still heavily discounted even at the prices of today, Particularly silver. The adage: “ If you don’t hold it, you don’t own it” perhaps has never been more true than today!

[@TheQuickSilver101]

I personally hate debt so paying off consumer debt should be anyone's first goal. That said a mortgage is different than garbage high interest rate credit card debt. I was buying gold at the same time I was paying my mortgage and I have zero regrets

[@2is1gold]

Yep

[@rogerjohnson8707]

#1 Payoff credit cards #2 Pay off car loan #3 Pay off mortgage Live debt free and be amazed about all the money you no longer spend.

[@Watcher-ts3ql]

I really am trying to see or find out where I am wrong in saying that Gold will have an uptrend for the coming years. It‘s not from an optimistic perspective that I have the stance though since I am convinced that very challenging times are ahead and more people in the west will seek safety in this commodity. After all we as the long term stacker community could be trapped in our bubbles without reflection. I just don‘t see where we are wrong. Thats why it‘s good to have you take that reflective stance sometimes so thank you 2is1! Your work is valuable for all of us!

[@silentsleeper]

I wanted more gold, but due to us planning to purchase a home soon. i resorted to buying bits of silver eagles every now and then to scratch the itch.

[@GodGoldGuns-q6d]

I hate debt almost as much as Ramsey.

[@emp731]

Gordon?

[@MRkriegs]

Dave! ​@@emp731

[@creepingcharly]

@@emp731 I think he means Dave

[@michaelearlgrey]

​@@emp731😂

[@ghost-hy6ut]

The time I have waited for is here 10 years. It's here, boys. I'm fuc@#$% rich. Keep buying, and I love the Athenian owl, I have one myself. It looks like it's never been touched.

[@2is1gold]

🚀

[@6010rocks]

2 minute add that I cant skip if I see much more like this I will never watch you tube again

[@sowelly2808]

I have a mortgage on a smallish condo home. Locked in a low rate, once I decide to move I can rent it out and have positive cash flow. With inflation likely to persist, I don’t see why I would take my capital to pay that off early when I can invest in other assets that will benefit from that inflation. I have friends that wouldn’t dare buy gold before paying off their debts. They also listen to Dave Ramsey.

[@travdripdrip382]

I still consider myself to be fairly new at this and i must say, your videos have been an asset as i continue to educate myself on this topic.

[@Jan-m5c2r]

The Tolstoy quote in the outro says it all! So do as you please - and face the music without whining!

[@edb3877]

"... and face the music without whining!" Now, that's the truly hard part of decision making! lol

[@kingglizzer]

I think the key is flexibility. You can get a loan for a house, you can't get a loan for everyday living expenses (other than credit cards and that interest rates is a bad idea). Pay extra on mortgage when possible, buy some precious metals when possible, and pay for necessary expenses as needed.

[@edb3877]

"You can get a loan for a house, you can't get a loan for everyday living expenses (other than credit cards and that interest rates is a bad idea)." Actually, you can get a loan for everyday living expenses or just about anything else and it's called a HELOC.

[@glenh4971]

If you are in debt. Pay it off before buying gold. If you have a core position in metals. Be careful about buying a lot at these levels. Its not safe. Don't go all in. Just my thoughts. I have no idea what is going on.

[@sweatyelvis]

Smart

[@JFEnterprize]

That’s what we said at $2000 you Fu…. 😮😢😂😂🎉❤ what sucks is almost every high past 2k hit a $100 dip about under the ATH many missed on.

[@Goldylocksss]

Very wise words glenh..😊

[@livinthedream7714]

Buy

[@edb3877]

IMO, "going all-in" is probably the worst investing advice ever given and it doesn't matter which asset we are discussing. Going all in means that we KNOW what the future holds and we can't possibly be making a mistake with this. HA! Yes, actually, we can make a mistake and we do not know what the future holds for us. So don't buy assets thinking that you can do these things because that very often leads to disappointment. Because of these things, it is wise to hedge one's bets by buying more slowly over time (DCA approach) and getting a good average price rather than charging in all at once and maybe hitting a market high, resulting in less gold for the money. I bought silver and then some gold, even though we still had a mortgage... but not for long. What we did have was a good positive cash flow that allowed us to handle both a mortgage and some stacking at the same time, so there was no financial reason for not doing both at the same time. Those not in this position would be wise to pay off the debt and then stack, IMO.

[@looniebinjim4150]

Fiat reminds me of Temu

[@StackMore]

I don’t trust either. Understood

[@theresamarie1089]

I pay myself first, so I say buy even if you still have debt but NOT on credit.

[@michaeltovey02607]

If gold goes up and fiat crashes it is a no brainer what to do. Fiat is bound to crash. Debt levels are unsustainable. Buy any gold dip.

[@josephshaw7705]

This show rocks love the comments !!! This community has there stuff together .following yalls lead stack on

[@2is1gold]

Cheers!

[@BenjaminISmith]

I'm gonna inherit my parent's house, sell it, build a sailboat, and live debt-free and tax free eating fish, drinking solar-powered desalinated sea water, and geting meds from mexico with my pile of gold until I die

[@skypieper]

I am not in debt. I've got a good savings, and I no longer feel safe with my money in the bank yet I still am hesitant to put a large % of my money into metals. I'm just taking it slow and putting a chunk on every paycheck into metals.

[@thingamujigger1585]

When it comes to the "how much" question, you just have to ask yourself....how much am I comfortable with losing? If the dollar died tomorrow, the stock market crashed and there was a massive run on the banks, would I be content with my current financial situation?

[@BadMoonRising777]

When making a choice, consider this; hyper inflation is on its way, no doubt about it due to the FEDs actions. Gold and silver will rise, this will allow you to pay off debt with the metal. Take a hard look at this and do your research. That’s what we’re doing.

[@TheTeskeNater]

I refinanced my recently purchased home in 2020 and got it at a 15 year Mortgage and a 2% interest rate HAHA! Now I can buy gold, beans and bullets! Lots of gold, beans and bullets...

[@Oxbow65]

Ill keep buying 1/4 ounce maple leaves for the time being.

[@2is1gold]

🤩

[@JasonDeville-fi4dh]

Leafs

[@72cmcinc]

Always better than moderately interesting here! Interesting, thanks for crunching the numbers!

[@oliviergagnon7955]

Silver may be up by 30%, but, at least in Canada, a 10oz silver bar would sell for 430 CAD and no LCS or refiner would give you more than 360$ back in January.2024. Now they sell them for 500$ and they buy them back at 415$. The premiums on silver and the resale loss eat the whole "profit", making gold and stocks the clear winners. Stocks have a 0% premium unless you count the transactions fee (if any) and gold rarely has over 5% premium. A gold bar I bought 8 days ago for $3580 now resells for $3520. I almost break even with gold only going up by 4% since my purchase. You can flip stocks and gold, but the "transaction fee" for physical silver is prohibitive for anything else than long-term wealth preservation.

[@2is1gold]

Have to go with what’s popular in your region. Cheers!

[@MHollywood5]

People don't get it. Buying silver is losing money on resell unless it's keeps going up for a long ass time.

[@213thAIB]

Your analysis is correct.

[@GoldDigger7819]

I buy pretty much obsessively. I don't care what spot price is. I save and buy, over, over, and over again. My expectation is 10 year minimum hold before I would ever start selling. I will not be accepting social security when I retire so my stack is my retirement fund. When the time comes for me to retire I will have to be 100% independent with no outside funding. I also have standard 401K, which should be in pretty good shape by then (assuming they don't confiscate it), so I am basically going to live and plan on my stack being all I know for 100% sure I will have.

[@2is1gold]

🤜🤛

[@timsilva1944]

My personal take on mortgages is to add additional $ towards the principal from the very beginning if you can.That way, more money is going towards the principal every month regardless if you add every month. I saved about 65% of my homes' value in interest by doing this. Paid it off in 12 years, added to my stack and 401k. You can't live in a 401k or any other investment, but a paid off home certainly is comforting.

[@2is1gold]

I've always done the same and think it's a good idea. A hardline approach of not investing or saving until it's paid off is the kind of advice I will never agree with. Cheers!

[@LD_Tush]

Always great content! I love it when people try proving you wrong in anything you say. They automatically lost since they missed the whole point. Regardless, great job on trying to cover every single aspect in 11 minutes 🤘🏻

[@StackingKeepStacking]

I hope to look back at these prices after 10 yrs and react "I should have stacked more!!!"

[@2is1gold]

🤜🤛

[@DS-tt9vz]

With my age, I just hope to be looking back in 10 years.

[@__Ryan_]

@@DS-tt9vzmy dads getting old and he says that too😢 I hope you stick around longer than 10 years.

[@watthaile2053]

​@@DS-tt9vz hehe .... Me too. I hope to be looking back at all !!

[@edb3877]

@@DS-tt9vz Yes, there IS that aspect of it for sure. At age 75, I really think that living on this Earth for 80 years is plenty of time. If I get more than that, it'll be good, but I am not counting on it.

[@natemr4482]

Great video brother nice stack have a great weekend 🥃🥃🥃🪙

[@2is1gold]

Cheers!

[@im4blujax]

Stop? No! If a SHTF scenario should ever play out, then I won't owe any of my consumer debt yet will still have tangible assets to assuage the challenging times. I'll continue to pay down debt, bit by bit, while at the same time acquiring precious metals. My two cents.

[@muddysneakers77]

I just started buying gold 3 years ago and have nice gains. I keep most of my money in 1 month TBills, for about 5.2%. Im starting to wonder if that gravy train is near done with the FED signals....might have to back i to buying gold again?

[@2is1gold]

Treasury yields actually went up. Temporary but still crazy!

[@romanmichalek4758]

Never ever buy on credit, when u have spare cash go for it, always have a cash reserve...precious metatals are long term....ok have no mortgage nor any other obligations, everybody must decide for himself

[@Robnord1]

I agree 100%. If a person has any kind of loans to pay off, it's silly to stack metals IMO. If folks in debt want to stack something, make it supplies and preparations for major disasters and /or a financial collapse, and make it a goal to pay off all debt.

[@Gdfsandoz]

I usually buy most my gold with a credit card mainly for the cash back purposes and it's always paid off before I have a interest payment on the card so I see no issue but I know most people literally have no self control with credit cards

[@mr.easystreet4167]

when i was 18 i thought about maxing out 10 credit cards on gold and going brankrupt for 7 years. it woulda worked...

[@tropi-cal9122]

Saving to pay off mortgage was part of my reason for buying metals. My thought was instead of adding monthly to my payment , I would be limiting my cash flow if some kind of emergency came up. Unless I wanted to get a second or an equity line of credit, which I do not really want to do. So I have been acquiring metals for a couple years. To eventually be able to pay it off , while having the ability to use part of my stack if the need would arise . May not be the correct way to do it, but it works for me. 3/4 of the way there and patiently adding to stack. So it is my savings account. Nice to hear you touch on this subject. Thank you

[@chiil034]

Same. I already have enough in metals to pay off my car and my home, and still have money left over. But I've just been keeping it in metals, as my debt is cheap to service at the moment.

[@MHollywood5]

If the gold rise % is higher than your mortgage interest stacking up over that time maybe if not no.

[@Convoyman2004]

I owe on my house, boat and truck. None of my interest rates are higher than 5% on my toys and my mortgage is 2.75%. I invest 30% of what I make and put an extra 1050 a month on those three loans and buy 1/4oz a month. I will do this until I can’t, OR until I pay off a loan then I’ll invest more and buy more gold. I’m retiring at 55 period. That’s my goal.

[@2is1gold]

Good luck!

[@Convoyman2004]

@@2is1gold thank you sir

[@MetaPrometheus]

And to think a $20 St. Gaudens used to sell for $350 in uncirculated condition roughly 25 years ago.

[@unaffiliated_x9279]

The colors of the wood and leather looks amazing next to all that shiny stuff. I bet you moonlight as an interior decorator 😂

[@2is1gold]

That sounds like a good, low stress career.

[@5.0beers70]

Buying precious metals is more about setting a budget and prioritizing that then being concerned with debt. Obviously pay off high interest debt but if they are following there budget than buying precious metals within there budget is good.

[@rd9102]

Theoretically buying Gold with Debt is a good thing to a point because the debt will get debased over time and Gold's value will rise. However that borrowing should occur when the market (rates to borrow) are at their trough and won't go any lower this cycle. However if you don't like debt then don't do it. There is however good debt that can help enrich people, debt is a tool and like any tool it can be used properly and it can be abused. Don't abuse it and you can ride debt to enrich your future with real money and sound wealth. Edit: i just bought an ounce 2 weeks ago, looking to buy more in the near future because at the end of the day either you believe the inexorable reality of the math and you want it or you don't want it.

[@Wes_Stacks.]

Buy what you want when you can afford according to your personal financial goals.

[@blue_diamond_gem]

People have said quit buying gold in my lifetime when it was at $400+. It’s only gone up the whole way. I like silver and gold.

[@dannyzuehlsdorf3697]

I try not to obsess about a precious metal's value priced in US dollars. $1000/ounce or $10,000/ounce I'm not too concerned. I buy it because it makes good sense when building a strong portfolio. Also, I've seen far too many people see the price of gold and say, "I'll wait for a pullback." and never get one.

[@2is1gold]

Yep

[@edb3877]

On the other hand, this waiting for a pullback issue didn't hatch in a vacuum. Many of us do that because we've seen it multiple times. Not so much recently though, but plenty of times in the past. Maybe that's the real problem? We're simply stuck in the past and can't let go of it. 😕

[@thomaschew2191]

A similar mindset here. I don't care what the price of gold is, our plan is our plan and we are sticking to it. I don't care about the price of PMs anymore than I care about the fed funds rate, which is zero cares. Every paycheck a percentage goes into retirement, into brokerage, into savings and into gold and silver.

[@dannyzuehlsdorf3697]

@@thomaschew2191 that sounds like a solid plan to me.

[@Nickyb40]

Love your channel. You tell us how it is. 🙌🙌

[@2is1gold]

Cheers!

[@texdevildog9174]

Cash out refinance mortgage and buy gold.

[@plumtree1846]

I do not know if you mentioned it already, your home mortgage interest deduction should be part of the calculation of whether to pay off your home mortgage early. Perhaps keep the mortgage longer and invest the difference...maybe in gold (and get a tax break as well).

[@2is1gold]

Tax law is complicated enough that not everyone gets the benefit of the deduction so I avoided it. But yes, it’s one more factor. Cheers!

[@timsilva1944]

In my case the mortgage interest deduction was a benefit only for the first 3 years. A modest home on an acre purchased in '09 after values tanked. Low interest rate.

[@edb3877]

@@2is1gold Tax law is complex, no doubt, but running the numbers showed that the standard deduction was a little better for us than going through all the deductions crud and then not being able to deduct a lot of it anyway because we didn't pay out enough or earned too much for it to matter.

[@paulregan5888]

Pay your mortgage, buy some ramen noodles and buy some gold lol

[@linnspencer2210]

Buy! 🪙 Buy! 🪙 Buy! 🪙

[@maryperrysmith5815]

I have my house and car paid off !! I owe Amazon about 600$ business expenses. I’m debt free ❤

[@2is1gold]

Congrats!

[@silversleuth007]

I hear but I bought gold Wednesday and this morning. I have no unsecured debt, but not a huge monthly income. My renters are paying my home equity loan that I used to bring my house out of the 1970s. CC and or PLOCs/HELOCs can be VERY useful for turning a 30 year mortgage into an 8 year payoff by just structuring monthly expenses to eliminate as much interest as possible. Just an FYI, IMO.😊

[@NorthGAPrepper]

I’m doing both. Stacking something with every paycheck AND paying extra each month on my mortgage.

[@gabebourgoin3589]

I service high interest dept first ie credit cards then invest with low interest dept ie mortgage and vehicle payments. It's been a good system for me.

[@rossmanIVXX]

Debt is a tool if used right. Especially if your mortgage is at a very low rate

[@2is1gold]

Agreed.

[@thomasjones8588]

Definitely. I use interest free credit cards and pay them off before the charges kick in.

[@23Keith23]

I've heard that advice to pay your debt off first before buying gold. I take that into consideration, but I don't go off of it stacking metals it's almost therapeutic for me so all in all it's been good for me.

[@markgotschall2914]

Irrelevant to me, on a quarterly buying schedule.

[@66block84]

I strongly contributed to my 401K in my last 10 years of working which gave me about 30 to 40% more than I would have when I retired. Stack early, stack often.

[@rogerjohnson8707]

I am half way to my goal and require 50 more ounces. My last buy was @2400 awhile ago and I've just been watching it go up and up. My deferred comp has mandatory distributions I had planned to make those purchases over the next few years with that money. This is going to take longer now and I'm not getting any younger.

[@soil-play]

Congrats on 50!

[@edb3877]

25 ounces needed to reach my gold stacking goal. I had hoped to reach it by the end of 2025 but with the way gold prices have risen lately, I might not get it done by then. Or, I could just throw caution to the winds and buy it over the next 5-6 months regardless of price. Doing that is possible... but hard to do. 😕

[@LukieDuke222]

Would you consider making a video about buying raw gold coins (1oz buffalos for example) vs graded ones in CAMEO or DCAM? My realistic brain says they're the same coin with the same amount of gold, but my numismatic/collector brain says that one will likely be rarer and harder to find down the road with a stronger degree of appreciation. I think about how an MS64 DMPL Morgan goes for considerably more than a standard MS64 Morgan. Would love to hear your take! Thanks!

[@razpenguin]

Always an interesting listen. What's the knife? I really like its wood furniture.

[@2is1gold]

Rockstead Higo X in ironwood ✊

[@razpenguin]

@@2is1gold Thanks!

[@BoshersYarzabal]

Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️

[@BoshersYarzabal]

Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

[@SimplotElbie]

Thanks to my co-worker (Carson ) who suggested Ms Susan Jane Christy

[@LentineAbplanalp]

She's a licensed broker here in the states🇺🇸 and finance advisor.

[@IvanPaula-ck9sl]

After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

[@JulienTchotcho]

Can I also do it??? My life is facing lots of challenges lately

[@adp3965]

Gold holds its value, low interest debt is eroded by inflation.

[@2is1gold]

True

[@JFEnterprize]

Pretty soon 10 gram bars will break the $1000 tax threshold 😮😢

[@2is1gold]

Crazy!

[@emm_syd_music]

Great video.👍 Well, 🆗, if you take the price of gold and silver from different times such as August 15 1971, 2000, 2005, you will see gold has outperformed silver in value, BUT I think, with the advent of more technology on the horizon, that trend could change dramatically from now on and therefore that's why I went all in on silver a couple of years ago. I flipped the little gold I had, roughly 1 and a half oz, for silver. In short, yes, central banks around the world have been stockpiling tons of gold, granted, but then again I see there's more potential growth for silver.

[@carefulconsumer8682]

That's a beautiful lunar gold Rooster.

[@2is1gold]

Such a cool coin. 🤩

[@livinthedream7714]

Excellent shit

[@2is1gold]

🤜🤛

[@hektoerdonovan2121]

My mortgage is at 3%. Why would I funnel my extra cash to settle that? Aside from which, you still pay ~1/3 of the mortgage payment because you probably have your taxes and insurance escrowed...

[@calebdoner]

I stopped because I'm close to getting my house paid off so everything extra goes to that.

[@stevebrusseau3301]

Waitimg for a pullback is killing me !

[@LauchlanBender]

Bring Stephanie Janis Stiefel on the show. She changed my life Financially I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Stephanie Janis Stiefel, for her expertise and exposure to different areas of the market.

[@LauchlanBender]

Well her name is 'STEPHANIE JANIS STIEFEL'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@AnthonyAlves-dm5sd]

Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

[@Lenaschmidtttt]

This thread has been enlightening so far, some piece of Info I could use

[@catdaddy5192]

Fake comment detected.

[@MattyRox]

$2600/oz is wild. That’s a lot of money man. 😊

[@stuartpaul9211]

if the debt is private debt, I'd refer to pay that off. if you run a limited company in debt, then it pays to have the loan as a liability expense.

[@h4mud1]

It will go up to 3000 $

[@linnspencer2210]

@@h4mud1 November 7th, 2024

[@2is1gold]

Getting close

[@mr.easystreet4167]

then back to 2200?

[@5ivestring]

A lot of my buys, most of them in fact I paid well over spot. Mostly because I was buying coins that had a high premium over other coins. And guess what? Everyone of them is in the profit margin now. Buying over time is a solid plan in my opinion.

[@324amgela]

I buy goal with my credit card and I pay all my debt One thing I do is that when I have to pay my credit card I pay it full I don't say no many more payments none of that I'll pay my credit card and I do that every month cuz if I buy one ounce of gold from money metal I can send them cash I have to use my credit card so when the bill comes I just pay it off

[@JFEnterprize]

Leave $25 on it to accrue a hair of interest. Your credit score will thank you 🎉

[@SandstormGT]

​@@JFEnterprizeeven if I already have a 835 credit score?

[@JFEnterprize]

@@SandstormGT it’s not an 850 is it. 👂🤨 mediocrity at best 😂 honestly that 25 holdover prob legit is the difference of that 15 points. Maybe every other month or 1/4ly doesn’t need to be constant.

[@livinthedream7714]

​@@JFEnterprize incorrect

[@danielfarrell3534]

​@JFEnterprize as far as I'm aware to improve your credit score you just have to leave the debt on there until the minimum payment is declared amd then pay it off. I'm not leaving any debt on my card to gain interest for a slight increase to my credit score which is already very good.

[@trousersnake1486]

I have debt but have also been buying 1/10th oz gold coins. It's all I could afford. But with prices going up on top of premium I think I'm not gonna be buying anymore and instead be hammering my debt down. Just to break even with premiums in mind gold would need to be $3000+ per oz.

[@donmesut9587]

Gold Gold Gold, Stack Stack Stack

[@tann888]

I like to keep cash until 2 weeks ago I saw the price of 1oz of gold bar at Costco has climbed to 2599$ which I remembered the last time I saw was 1999$ an oz. So I purchased 20 (1oz Eagle coins) and 20 (1oz Buffalo coins) the most I have ever spent. Hopefully it goes up or stay the same. 😅

[@fu4616]

Still buying [Au] while paying down debt. Some is better than none.

[@starstacker1]

Yes i have been paying off debt and buy fractional gold

[@hairetikos6402]

Owning gold is shorting the dollar and having a mortgage is also shorting the dollar. Having debt is fine/pragmatic providing the interest is less than what you would pay in rent or receive in rent.

[@brokenstacker8297]

I have a 30 year fixed mortgage at 2.5%, I have no interest in paying off a loan with a rate lower than the rate of inflation.

[@NorthernFellRunning]

I love that coin holder! ❤

[@2is1gold]

They’re very cool. SummitMetals has them in the Accessories category.

[@Logan0o]

IMO It depends on the interest rate that said debt is or how large of a monthly note it is. If neither of those are terrible for your situation then you 100% should save or invest your money. Remember gold is NOT an investment.