2020 Stacker's First Goal

Are you thinking of going into stacking? Are you new in stacking?

If you are then here is a FIRST GOAL that you and all stackers should consider as you journey down the road of stacking precious metals.

GET OUT OF REVOLVING DEBT!

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Credit card debt and debt from a home equity line of credit (HELOC) are two examples of revolving debt. These credit accounts are called revolving accounts because borrowers aren’t obligated to pay off their balances in full every month. Like a revolving door, these accounts allow you to borrow against your credit line over and over again.

I am not talking about "stacking" as occasionally buying one or two ounces of silver every year. I am referring to accumulating precious metals as an alternative to holding one’s wealth in fiat currency and shares in a stock or a series of bonds as a core part of long-term assets that one holds for a period of time.

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I am not talking about credit cards that one pays off the balance in full every billing cycle.

We know that a credit card can be a valuable tool if you know how to use it properly. At the same time using credit cards irresponsibly can lead to disaster!

And let us face the truth and facts that statistics show: an average American household carries over $5,000 in credit card debt.

Take a closer look here: Value Penguin's Average Credit Card Debt in America: January 2020. * * * * *

Pay off all your credit card debts before stacking any precious metals!

It is COUNTERINTUITIVE, ILLOGICAL and NONSENSICAL to be stacking precious metals to retain wealth when you’re paying interest on credit card balances and losing wealth to banks (which mostly own credit card companies).

This article is my personal opinion and is not meant to be financial advise. I am not a financial adviser. I and several veteran stackers have accomplished this first goal of being revolving-debt-free and swear to the logic and benefits of doing so.

I hope you enjoyed viewing this article as much as I did in sharing with you. Thank you and I will see you again soon! @silversaver888

@silversaver888 is a proud member of #steemsilvergold

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