How much money is required for 30 years retirement?

[JensenZ]

4 minutes ago, Tagged said:

Anyway, there is some obstacles with gold, and it is storage, if you do not buy gold stocks, and keeping land as security when you live in Thailand, you need to trust a person, since you can not own land in your own name. So? What to do? I have an appartment left where I come from, and that will be my security in the future, as it give me income now I almost could live on for my monthly living cost. If I had two or three I would have more than enough, but also more worries and more to take care off. 

Storage of it is a minor inconvenience compared to having no money to buy it. Buying and selling gold in Thailand is a breeze compared to most other countries.

Edited July 26, 2020 by JensenZ

[BritManToo]

11 minutes ago, JensenZ said:

In a year, whatever gold you have now will be worth infinitely more. I estimate it will breach $2000 an ounce in August and keep flying after that. I already predicted it would push through $1900 last week by Thursday or Friday, which it did.

 

Gold at any price is not expensive. It will be the new currency, as it has been for thousands of year.

 

I agree that saying "a year or so" was optimistic. I don't really think that, but my post was probably depressing enough.

In 1980 gold was $2170, and I'll bet you would have been telling everyone exactly the same back then.

That's a 10% loss over 40 years ...... not that great an investment IMHO.

 

Historically gold peaks in times of crises (now), then loses 50% of it's value over the next year.

Buying gold is an easy way to lose half your net worth.

Edited July 26, 2020 by BritManToo

[Tagged]

5 minutes ago, BritManToo said:

In 1980 gold was $2170, and I'll bet you would have been telling everyone exactly the same back then.

That's a 10% loss over 40 years ...... not that great an investment IMHO.

You would been better off if you sold in jan. 1980, and bought again in april 2001 

[JensenZ]

25 minutes ago, BritManToo said:

In 1980 gold was $2170, and I'll bet you would have been telling everyone exactly the same back then.

That's a 10% loss over 40 years ...... not that great an investment IMHO.

 Gold peaked at $850 in 1980 and closed the year at $594.90

 

Yes, in inflation adjusted value it was much higher then, maybe as high as $8000 - $9000 per ounce.

 

I was 21 years old at that time and not the slightest bit interested in investment or gold buying.

 

Anyway, what the price was in the past is irrelevant. It's going up by the day right now. Gold is not an investment, but insurance against financial disaster. Money loses value, gold maintains your equity against the decline of fiat currency value.  

Edited July 26, 2020 by JensenZ

[BritManToo]

Just now, JensenZ said:

I was 21 years old at that time and not the slightest bit interested in investment or gold buying.

It's not an investment, it's a mental illness.

Seek help.

[JensenZ]

 

6 minutes ago, Tagged said:

You would been better off if you sold in jan. 1980, and bought again in april 2001 

All jokes aside, buying on March 16, 2020 at $1450 and selling in a year or two would have been the best move. If you bought 100 ounces on that day and sold now, you'd have netted $45,000.

[JensenZ]

5 minutes ago, BritManToo said:

It's not an investment, it's a mental illness.

Seek help.

Considering the cr*p you're posting here, I thought you were mentally ill and needed help.

 

It was already stated that it is not an investment, but a hedge against financial disaster.

Edited July 26, 2020 by JensenZ

[mokwit]

7 minutes ago, JensenZ said:

Considering the cr*p you're posting here, I thought you were mentally ill and needed help.

 

It was already stated that it is not an investment, but a hedge against financial disaster.

Dude, He entered The City [UK Wall St] aged 35 and made enough to retire by 45. You are in the presence of a master financial brain. We are still waiting for him to tell us how he did it.

Edited July 26, 2020 by mokwit

[4MyEgo]

2 hours ago, thaibeachlovers said:

The only country one has a right to live in is the one on the passport.

Absolutely correct, unfortunately many don't think about a fall back position, e.g. savings to be able to return to their homeland and set themselves up till their lights go out.

[Nemises]

2 hours ago, thaibeachlovers said:

and weekly rent of beautiful, young pussy.

55555555555555555555555555555555555

If you can afford all the rest as well as that, either they ain't beautiful or young, or you are talking about a real cat.

LOL

 

Per screenshot, this one’s coming to see me today and staying the night. Cost: 2 bottles of beer and a bowl of Tom Yum Goong and Som Tom... so maybe 400baht. 

 

You think she can’t be beautiful or young. Feel free to PM me and I’ll show you her pics so you can make a more informed decision ????

 

[marvin1950]

She come with face mask

[Tagged]

4 minutes ago, Nemises said:

LOL

 

Per screenshot, this one’s coming to see me today and staying the night. Cost: 2 bottles of beer and a bowl of Tom Yum Goong and Som Tom... so maybe 400baht. 

 

You think she can’t be beautiful or young. Feel free to PM me and I’ll show you her pics so you can make a more informed decision ????

 

Thats what you calll a real cheap Charlie, 

[JensenZ]

17 minutes ago, 4MyEgo said:

Absolutely correct, unfortunately many don't think about a fall back position, e.g. savings to be able to return to their homeland and set themselves up till their lights go out.

The best-laid plans of mice and men often go awry.

 

We are not totally in control of the future, no matter how carefully we plan it. I'm sure a lot of happily retired people were not planning on a worldwide pandemic. Let's see if most countries can afford to keep funding their retired population's pensions when large percentages of the population have no work and don't pay taxes, while the governments prints money to feed them.

 

Consider hyperinflation where your money become worthless. There are plenty of historical examples of this including some recent ones.

Edited July 26, 2020 by JensenZ

[checkered flag]

20 minutes ago, 4MyEgo said:

Absolutely correct, unfortunately many don't think about a fall back position, e.g. savings to be able to return to their homeland and set themselves up till their lights go out.

Unfortunately it will probably be a nursing home and not what I'm used too here.

[BritManToo]

18 minutes ago, 4MyEgo said:

Absolutely correct, unfortunately many don't think about a fall back position, e.g. savings to be able to return to their homeland and set themselves up till their lights go out.

My 'fallback' position has always been a balcony jump, which is more of a 'falldown position'.

Surviving TEOTWAWKI may not be all that much fun.

[checkered flag]

5 minutes ago, JensenZ said:

The best-laid plans of mice and men often go awry.

 

We are not totally in control of the future, no matter how carefully we plan it. I'm sure a lot of happily retired people were not planning on a worldwide pandemic. Let's see if most countries can afford to keep funding their retired population's pensions when large percentages of the population have no work and don't pay taxes, while the governments prints money to feed them.

 

Consider hyperinflation where your money become worthless. There are plenty of historical examples of this including some recent ones.

I've lived long enough to not be paranoid about the future. I'm not going to live a chicken little type of existence. Life is good now and will probably be good in the future (as long as I last). Now I'm looking forward to another dish of som tum. 

[4MyEgo]

10 minutes ago, JensenZ said:

The best-laid plans of mice and men often go awry.

 

We are not totally in control of the future, no matter how carefully we plan it. I'm sure a lot of happily retired people were not planning on a worldwide pandemic. Let's see if most countries can afford to keep funding their retired population's pensions when large percentages of the population have no work and don't pay taxes, while the governments prints money to feed them.

 

Consider hyperinflation where your money become worthless. There are plenty of historical examples of this including some recent ones.

Don't put all your eggs in one basket is a good saying too.

[mokwit]

15 minutes ago, JensenZ said:

Consider hyperinflation where your money become worthless. There are plenty of historical examples of this including some recent ones.

People prepared for inflation and found that the real problem was currency  - their home countries were importing deflation from China, but it showed up in things that were not imported e.g. property/rents and exporter currencies. We are no longer importing deflation like we were. The fact that inflation has not been an issue since the '70's (I grew up in that near hyperinflation) doesn't mean you can take the risk of not taking it into account - you have to prepare for it because if it comes it will wipe you out - if you focus too much on income,  right at the age when you can't do anything about it.

Edited July 26, 2020 by mokwit

[ThailandRyan]

2 minutes ago, 4MyEgo said:

Don't put all your eggs in one basket is a good saying too.

Unless they are Golden Eggs

[4MyEgo]

9 minutes ago, BritManToo said:

My 'fallback' position has always been a balcony jump, which is more of a 'falldown position'.

Surviving TEOTWAWKI may not be all that much fun.

That's strange I thought you were living TEOTWAWKI here in the LOS ?

[checkered flag]

47 minutes ago, JensenZ said:

Considering the cr*p you're posting here, I thought you were mentally ill and needed help.

 

It was already stated that it is not an investment, but a hedge against financial disaster.

No it's called paranoid, which is a or can lead to mental illness. Get a life and learn to take each day as it comes. If you want to buy a lot of gold today, but I'm with Britmantoo holiday rental would be a better investment.

[4MyEgo]

8 minutes ago, ThailandRyan said:

Unless they are Golden Eggs

Correct, but still not all in the one basket, e.g. my wife wanted to sell all of her gold on Friday, she has been accumulating it since we met back in 2006, compliments of yours truly, it's a fall back position for her.

 

I said why do you want to sell all of your gold, she said she could get 25,000 baht per baht for it, now she paid anywhere from 10,000 to 15,000 baht per baht for her gold, and I said to her, since you purchased your gold over time, have you ever had the need to sell it, no was her reply, then wait till it hits 30,000 baht per baht was my reply, and buy it back when and if it hits 20,000 baht per baht, she looked at me with half a light bulb on up top, and said um, what if the price drops, I said, well then you still have your gold don't you, um ok was her reply, smart girl my Mrs, made all that money by just holding onto her gold....lol

 

5 minutes later she came back with another brilliant idea and said, maybe I can sell it and you can buy stocks with the money, I said, hmmm, good idea honey but have enough of them at the moment, I then said, what's for lunch......

[4MyEgo]

32 minutes ago, checkered flag said:

Unfortunately it will probably be a nursing home and not what I'm used too here.

Perhaps a live in Asian nurse to care for you ?

[4MyEgo]

27 minutes ago, 4MyEgo said:

That's strange I thought you were living TEOTWAWKI here in the LOS ?

[Susco]

1 hour ago, JensenZ said:

Gold peaked at $850 in 1980 and closed the year at $594.90

 

Not sure where you get your prices, but they are clearly wrong

 

[BritManToo]

27 minutes ago, 4MyEgo said:

I said why do you want to sell all of your gold, she said she could get 25,000 baht per baht for it, now she paid anywhere from 10,000 to 15,000 baht per baht for her gold, and I said to her, since you purchased your gold over time, have you ever had the need to sell it, no was her reply, then wait till it hits 30,000 baht per baht was my reply, and buy it back when and if it hits 20,000 baht per baht, she looked at me with half a light bulb on up top, and said um, what if the price drops, I said, well then you still have your gold don't you, um ok was her reply, smart girl my Mrs, made all that money by just holding onto her gold....lol

 

I would have agreed with her idea to sell at 25k.

It's appears to me you're not smart, if she were smart she should have said, if the price of gold drops will you buy it at 25k?

 

[BritManToo]

1 hour ago, 4MyEgo said:

That's strange I thought you were living TEOTWAWKI here in the LOS ?

Am I only allowed one end of the world as I know it?

My first world ended when my Brit wife divorced me, suddenly my life was no longer walking the dog on the beach in the rain, and drinking wine in front of a log fire.

 

Now my second world (or should that be 3rd world) of hiking in the steamy jungle, and entertaining gogo girls in themed short time hotels is looking a bit wobbly, but lucky for me I'm old and probably don't have enough time left for it to be that much of a loss.

 

I've got to say I enjoyed both of my worlds (although the change from one to the other was traumatic), I regret very little of my wife life, it's been a blast, and I've needed a lot less money than most of the spendthrifts on this thread have suggested.

Edited July 26, 2020 by BritManToo

[Susco]

10 minutes ago, JensenZ said:

LOL> that's not actual gold price, but inflation adjusted price at some time in the future, which has not been indicated. That is way off (low) for 2020 inflation adjusted price. Try harder to catch me out - I trade gold.

I stand corrected, as I hadn't seen that remark on the website, yet it still proves that even taking inflation not into account, that if you bought in 1980 you now still were losing money.

 

A deposit in a savings account in 1980,  would have earned you much more today.

 

Are you sure you are a gold trader and not a gold loser?

Edited July 26, 2020 by Susco

[BritManToo]

Just now, JensenZ said:

You and Brit are welcome to bury your heads in the sand if you wish. Need I repeat myself again? Gold is not an investments, but a hedge against inflation and hyperinflation. You don't buy it with money you need to survive on now. You buy it with savings you don't currently need. 

But what if you're like me, and death is fast approaching?

I only need money to survive on now!

[Susco]

2 minutes ago, JensenZ said:

As I said, you could have purchased 1 lot (100 ounces) of gold on March 16, 2020 and made $45,000 profit by today.

 

Of course cherry picking dates always gives you a profit.

 

How about people who bought that 100 ounces just 8 years ago?