Why should you sell silver in times of economic uncertainty?

There are various reasons why people have silver bullion in their investment portfolios. The current economy and the monetary instability increasing. An increasing number of people are becoming aware of the unsustainability of fiat currencies. The government is expanding without limitations, they realize that precious metals like silver and gold, are the best investment play. Silver is 90% more popular than gold, just last year 40 million American silver eagles were sold.

There are a lot of silver bullion coins that are in demand. Some of these include the Silver Kookaburras as well as the silver Koalas. Kookaburras have a long track record since they were first minted in 1990. Only a limited number of these are produced every year which makes them easier to buy and stack. If you have a big enough stack of these, you can look for a dealer to sell silver bullion coins when the price of silver is high or when you need money. There are other foreign silver bullion coins that are popular like the Mexican Silver Libertads or United Kingdom Britannias.

You might also have come into some inheritance with silver bullion coins or bars as part of it. If you are dealing with the details on the estate of a loved one who has passed on, silver might be the first and probably the easiest thing to liquidate. Find a reputable precious metals buyer to buy the silver bullion coins you have and you can use the cash for something you need.

Factors Affecting the Price of Your Silver

If these are the situations you find yourself in, you can find a bullion dealer near you by entering “sell silver bullion” on your search engine. If you want the best price for the silver you have to sell, it pays to know what you have and what it is really worth. That means you’ll need to understand the pricing of silver, the factors that affect price movements, and what dealers are looking for.

Here are some factors you need to be aware of:

The Price of Silver Varies

The biggest factor that will affect the amount of money you can expect to get from a dealer is the spot price. This is the price of an ounce of silver and it changes all the time and is affected by reasons that include the dynamics of and demand, Inflation or deflation, fluctuating economics, and more.

The fluctuation of economic expectations

If there is one thing you should know about silver is that, it is hard to predict the future price of silver because the silver market is so volatile. The only way you can keep track of the value of silver is to follow the silver market and keep track of the factors that push the price of gold.

Silver bullion coins are priced differently for collector’s coins. For bullion, it depends on the market value of silver whilst numismatic silver coins depend on rarity, condition, and popularity. If there is no demand for these numismatics, they can be harder to sell as compared to silver bullion coins. The point is, you can always rely on silver bullion. There are dealers who are always ready to buy silver bullion coins.

What Is the FIRE Movement Anyway?

A growing number of people are gaining an interest in something called the FIRE movement. What is this, and could this be of use to you?

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FIRE Defined

FIRE stands for Financial Independence, Retire Early. According to Investopia, FIRE is a system involving a program of extreme savings and investments. This allows followers to retire earlier than traditional budgets and retirement plans allow.

Rise in Popularity

The FIRE movement first came about following the release of a book in 1992 entitled Your Money or Your Life. The book explored the comparison of expenses versus the time spent earning the money to pay for these expenses.

A growing number of people started to become fans of the so-called FIRE movement, and today there are countless books, blogs, and podcasts written on the topic. Many advocates claim they can retire at a younger age compared to the general population, with some well-known FIRE fans even retiring as young as 30.

However, FIRE supporters stress that following this movement isn’t necessarily about giving up work early. Many continue to enjoy a fulfilled career. Crucially, the goal of FIRE is to give the person options so that they could retire if they wanted to.

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How FIRE Works

In order to become financially independent and retire early according to the FIRE movement, experts claim you need to devote 70% of your income to savings. This is fairly extreme, and many people would need to be very disciplined in order to achieve this goal. Seeking financial assistance from experts such as www.intelliflo.com, who provide financial advisor software, would be one way to help you organize your savings more efficiently to yield maximum returns.

Supporters of FIRE argue that you need to save 70% of your annual income to the point where you’ve gained savings that are around 30 times your yearly expenses. At this point, you can then retire. However, you may need to adjust timescales according to interest rate fluctuations.

In order to maintain FIRE principles, followers must also only make meager withdrawals. This will involve cutting back on unnecessary expenses and living a fairly frugal existence. Typically, FIRE followers will make just 3-4% withdrawals from their annual savings. This again requires strict discipline, and you might need to consider your quality of life and current lifestyle to assess whether this rate is even achievable.