My silver stacking journey after losing my husband - looking for tips!

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My silver stacking journey after losing my husband - looking for tips!

betty_king📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I've been a silent reader here for a while, just trying to soak in all the wisdom.
•It's been a little over a year now since I lost my wonderful husband, George, and I've slowly been trying to get my financial ducks in a row.
•He always handled everything and now it's all on me.

The 3-step rollover process explained

I've been a silent reader here for a while, just trying to soak in all the wisdom. It's been a little over a year now since I lost my wonderful husband, George, and I've slowly been trying to get my financial ducks in a row. He always handled everything and now it's all on me. I'm in Raleigh, and George had built up a really nice nest egg, around $80k in his IRA that I inherited. I've been so worried about protecting it, especially with all the talk about inflation.

I had a good chat with a financial advisor a few months back, and while he was helpful, I really wanted something tangible, something George would have approved of to safeguard his hard work. That's how I started looking into precious metals. After doing a ton of research, I decided to allocate a portion to silver. I started small, just to get a feel for it. My first purchase was about $5,000 worth of American Silver Eagles. It felt really good holding those coins, knowing I was taking a concrete step to preserve his legacy.

My current strategy is to pretty much dollar-cost average. Every couple of months, I've been adding another $2,000-$3,000 to my silver holdings within the IRA. I'm focusing mostly on government-minted coins right now, like the Eagles and some Canadian Maples, because of the recognition and ease of selling if I ever need to. I'm not looking for huge gains, just stability and a hedge against the crazy things happening in the economy. Right now, I've got a little over $15,000 in physical silver.

I guess what I'm wondering is, am I on the right track? I know some people here go for a mix of bars and coins, or even different types of silver. What's your reasoning behind that? Also, any Raleigh-specific tips on finding reputable dealers for future purchases, or even storage options beyond the IRA custodian's facilities? It’s all a bit overwhelming sometimes, and I just want to make George proud.

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7 comments

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Best Answer▲ 12 upvotes

donald_nelson💎Premium (500k-1m)

Just started my rollover process last month. The paperwork alone almost made me quit lol.

Comments (7)

nancy_hall💰Established (100-250k)Real Investor•about 2 months ago

So sorry for your loss, that's incredibly tough. It resonates with me a lot because I was in a similar boat when my dad passed – he handled all the investments and it felt like a massive uphill battle just figuring out where to even start. It's overwhelming, but you're already taking the first steps by getting informed, and that's huge. Wishing you all the best on your journey.

daniel_wright💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

Hey, so sorry for your loss. It's awesome you're taking charge of your finances. About Raleigh, are you talking about local coin shops or more about meeting up with other stackers in the area?

ruth_perez📊Growing (50-100k)•about 2 months ago

Hey, I'm so sorry for your loss. It takes incredible strength to tackle these things, especially after such a difficult time. George sounds like he was a wonderful man.

While silver can be a great investment, have you considered diversifying a little beyond just precious metals? Especially since your husband handled everything before, it might be worth looking into some different avenues, just to spread out the risk a bit. There are some really solid financial advisors out there who specialize in helping people navigate these transitions.