Finally hit the 5mil mark solely from gold & silver, here's my story
- •Honestly didn't think I'd be posting this, but here we are.
- •Just crossed the $5M net worth mark, and a huge chunk of that, like almost all of it, is tied up in physical gold and silver.
- •For those of you who've been following my posts here and there, you know I've been shouting about precious metals for years.
Honestly didn't think I'd be posting this, but here we are. Just crossed the $5M net worth mark, and a huge chunk of that, like almost all of it, is tied up in physical gold and silver. For those of you who've been following my posts here and there, you know I've been shouting about precious metals for years. I started heavy into this back in '08 when everyone else was panicking. Picked up a load of physical at decent prices, mostly Eagles and Maples, some Kookaburras for fun. It wasn't about getting rich quick, it was about protecting the wealth I'd built up in real estate in Aspen when I felt things getting shaky.
My strategy was always buy and hold, adding to my stack during dips. Never tried to time the market, just consistently allocated a percentage of my cash flow to more metals. The real estate market here in Aspen has been good to me over the decades, but the past few years, the precious metals have seriously outperformed. We're talking a significant appreciation that's dwarfed some of my property gains. The peace of mind alone, knowing that a substantial chunk of my assets isn't tied to the volatility of stocks or some speculative crypto, is invaluable.
One thing that's become a huge factor recently, especially as I look towards scaling back on my development projects, is thinking about taxes. I'm based in Colorado, and while the state income tax isn't like, egregious, capital gains on this kind of appreciation are a different beast. I've been playing around with the "Tax Calculator" at https://tax.goldirablueprint.com/ to get a clearer picture of different distribution scenarios. It's really helped me wrap my head around the tax implications of accessing this wealth down the line. Has anyone else used a similar tool for planning, or have specific strategies for minimizing the tax hit on large precious metal gains? Curious to hear what others with substantial holdings are doing.
Anyway, for anyone on the fence, or feeling discouraged by short-term fluctuations, just remember: patience is key. And diversification, but for me, that diversification always included a heavy dose of the shiny stuff. It's been a hell of a ride, and I'm looking forward to what the next few years bring, hopefully from a slightly more relaxed standpoint here at altitude. What's everyone's take on the current market? Still stacking or holding tight?