Over the thirty three years my wife and I have been together we have worked hard at being good savers; We're not miserly though, just need over want oriented (mostly) and mindful of our future financial position. It has worked well for us too, and it's been a long enough period of time for us to see our efforts rewarded which can be a roadblock to people I suppose; Seeing the long-game clearly, I mean.
Saving goes hand in glove with investing for us and we have worked on both consecutively, sometimes with greater success, and at others, lesser; We have always been able to move in the right direction though, despite some roadblocks and speed humps along the way.
We work off a plan, set goals and generally with some advice information from those who know more than us. We are not read-investment-book-and-react types, preferring up-to-the-minute information from those who know, and information, conclusions, based on our specific needs. Generic books can be a good motivator, but poor advisors.
One thing we have always done though, is keep an eye on our investments, evaluated, reevaluated and adjusted as we need to. Keeping apprised of the relevant information, knowing what happened back when, and what forces may impact upon the future, has been a strong focus. I would say we are pretty informed, and make calculated decisions. Again, it hasn't meant we have always had massively successful investments, however we've had mostly successful ones, and mitigated associated risk as much as possible.
Several years ago I decided to begin stacking metals and, knowing nothing about it, simply started buying some thinking that was smart. I mean how hard can it be right? Buy metal, stack it, job done. It wasn't until later I found out that the same principles I applied to other investments were also relevant to metals. Principles I hadn't been applying.
That left me with a stack of silver and gold that I had not tracked in even the most simple of ways. That's why I did a stocktake last weekend, inserted each piece into a spreadsheet and recorded dates and buy-prices. Of course, much of that information was missing thought my failure to record it all before now.
I was pleased to see what I had gathered over the years all laid out in a spreadsheet though and also I now had the ability to track it against the market and make decisions based on that information.
I wish I had recorded all of my purchases so that I'd have an accurate idea on exactly what I'd paid and when, however from now I will do so, leaving my old bad habits behind me.
It would be cool to hear from, anyone else stacking or investing in general, how you track the market, collate the data and stocktake your bits and pieces and where you get information in the first instance. Feel free to comment below as I'm always keen to get new information and considering I'm reasonably new to the stacking thing...Any help I can get the better.
Just on that, my brother sent me a .pdf file the other day, a book called Guide to investing in gold and silver by Mike Maloney. I've printed it, a few hundred pages, and am working my way through it. I'm finding it fascinating, heavy going, but a great read. I guess one doesn't know what they don't know until they know they don't know it right? I'm finding that out with this book, in relation to silver and gold anyway. It's worth a look.
My wife and I are no investment-guru's, certainly not experts, and would never presume to advise people what they should do from an investment perspective; But the one thing that has consistently worked for us is our research-focus; Through investigating potential investments as best we can, and my keeping an eye on them from time to time, we have made more money, and mitigated potential loss. It has allowed us to be proactive, and to make adjustments as needed and to jump on opportunities more rapidly. Critical when investing.
Thanks for reading.
Design and create your ideal life, don't live it by default - Tomorrow isn't promised.
Be well
Discord: galenkp#9209
Image shows me holding one of my favourite coins...The 10oz silver kookaburra.
