# finish my debt on my house or go for gold, silver, and coins



## Dirk (Mar 4, 2015)

I am in a not too bad position. I would soon be out of debt. Just the last part of the house to go. The car and the bug out location are all done. so now is the question. Should I complete the payment on the debt on my house first quicker than I do now or should I just continue my regular payments for the debt on my house and should I use the rest to invest in gold, silver and coins.


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## slewfoot (Nov 6, 2013)

Pay off the house.


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## Oddcaliber (Feb 17, 2014)

I would pay off the house first! You need somewhere to store your preps. After that you free up a lot of money that can go to other things.


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## alterego (Jan 27, 2013)

Here is my thoughts.

In liue of paying extra on the house. I am accumulating p.m. and paying the regular payments.

At such time that I have enough to dump and pay off my loan. That is what I will do.

I rationalize that it may go up in value and assist in the pay off.

Also I could liquidate any amount at any time to help me in a financial pinch.


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## Camel923 (Aug 13, 2014)

I would lean towards House first but not to exclude other financial efforts.


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## Arklatex (May 24, 2014)

The less debt the better, pay off the loan if you can.


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## Dirk (Mar 4, 2015)

Hi all, thanks for the advice.


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## tinkerhell (Oct 8, 2014)

Just my opinion...

Math wise, avoiding interest on your house makes alot of sense.

But i place long term preps in a catagory that is much too important to wait until my house is paid for.

These include retirement savings, long term food storage.

I see no reason not to include silver as a long term prep.

So I guess what I am saying is....

Your debt repayment on your home is scheduled over a long period of time. Your retirement savings is scheduled over a long period of time. Your silver is scheduled over a long period of time.

What ever is left over after your monthly bills and expenses, is your discretionary cash flow. 

How well do you manage your discretionary cashflow? If you have something extra to play with, then reducing your long term schedules - any one of them - makes good sense. 

To maximize your strategy look at the interest rate on your motrtage, look at your earnings on your retirement savings, and look at the price of metals. 

But if you want to be boring ( i like boring ) then spread your extra money across all 3 items. Your bad will balance with the good, and you will benefit in a similar way as an investor benefits from not putting their eggs in one basket.


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## A Watchman (Sep 14, 2015)

^^^^^^^^ what I do.


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## Operator6 (Oct 29, 2015)

Not knowing the complete details of your finances, the best answer I can give is to pay the home mortgage off.


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## Chipper (Dec 22, 2012)

50/50, both need to be taken care of. Who knows when the ball will drop??


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## SOCOM42 (Nov 9, 2012)

Pay off the home, you could encounter a medical problem or other that could reduce your cash flow, thereby making the payments untenable.
I paid mine off in Five years, thanks to military contracts.
Not having that debt removes a lot of pressure/anxiety.


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## Gimble (Aug 14, 2015)

I'll agree with what others have said and add in my smarts as well.

Rule #1 No Debt!
Rule #2 See Rule #1
Rule #3 Now be practical

If you start learning how to prep, you'll actually reduce your bills in the long term. I currently have a freezer full of top quality beef at $2.80/lb. That means my NY Strip Steaks are $2.80/lb and my Filet Mignon is $2.80/lb and my hamburger is $2.80/lb. I had to do some networking and I had to save cash to buy this, but its considerably cheaper to buy it this way. The same goes for everything else. (BTW, This is local farm raised, grass fed beef) I do this with veggies as well.

-- Food Budget is now decreased

If you have car payments, sell them and get a used car you can pay cash for. Since you own the car outright, drop insurance to liability only.

-- Car Budget is now decreased

Look at your monthly burn rate. Internet, Cell Phones, Netflix, etc, etc, etc. Take a hard look at these things and see if there is any savings to be had by tuning some things out.

-- Burn budget is now decreased

Save up your quick emergency fund - $1000

-- Now you can breathe

Start paying down debts until you no longer have any.

Adding some practicality to that, I have a mortgage with PMI (better than a rental, but not the best option). PMI is an extra monthly fee the bank tacks on because they think you won't pay the mortgage since you don't have a big enough downpayment invested. If you foreclose, this PMI does not protect you... you still need to pay the debt, regardless of this "Insurance". This PMI does not gain any value, it only takes money away from you and gives it to the bank. I can't really pay down the mortgage because of the PMI (I can go into details if you need). So what I'm doing is what others have done: I'm putting currency into money or other vehicles until I have enough to change the down payment problem which will get rid of PMI. Until PMI is gone, it makes no financial sense for me to pay ahead on the mortgage.

After the mortgage is paid off, I am planning on never having another debt.


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## krusty (Oct 7, 2015)

Just an FYI. 

If you ever plan on buying silver coins and using it squarely for trade purposes (or the like) stay away from coins that are at premium - just because they look nice. 

When I started buying silver I put a lot of my money into Canadian Maples, and American Eagles. I almost always paid a few bucks more over spot price just due to the design on the coin. 

Always know your spot prices of gold and silver - and never pay more than the price of the metal no matter how great the design is.


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## Gimble (Aug 14, 2015)

We're having a conversation about "non-brand name" silver and gold on another thread.

I'm thinking about something like this: Buy 1/2 oz Atlantis Poured Alien Skulls Online l JM Bullion?

Its silver, its from a reputable source... but have you sold something unmarked like this? How did that go for you?


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## Ripon (Dec 22, 2012)

I'd likely got 80/20. Meaning I'd put 80% of the discretionary towards the house so you are debt free soon. 20% into PMs or other barter able preps. This assuming you have relatively few PMs to preserve wealth with.


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## A Watchman (Sep 14, 2015)

Gimble said:


> We're having a conversation about "non-brand name" silver and gold on another thread.
> 
> I'm thinking about something like this: Buy 1/2 oz Atlantis Poured Alien Skulls Online l JM Bullion?
> 
> Its silver, its from a reputable source... but have you sold something unmarked like this? How did that go for you?


I still would steer more to a traditional round, something less exotic. This waves red flags immediately, as it is currently priced well over $3 *UNDER *spot.


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## Gimble (Aug 14, 2015)

I'm really not trying to be a jerk here, I'm honestly trying to reason this out...

Buy 1/2 oz Sunshine Silver Rounds Online l JM Bullion?

How's that strike you for "legal tender"? Would you take it?

Have you sold any of these unmarked rounds?


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## Ripon (Dec 22, 2012)

From your link "no fear"

*Also located on the reverse of the round is Sunshine's unique security feature which can be validated by using a Sunshine decoder lens.*

I had to laugh out loud...I'm sticking with Canadian Mint coins.



Gimble said:


> I'm really not trying to be a jerk here, I'm honestly trying to reason this out...
> 
> Buy 1/2 oz Sunshine Silver Rounds Online l JM Bullion?
> 
> ...


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## A Watchman (Sep 14, 2015)

Gimble said:


> I'm really not trying to be a jerk here, I'm honestly trying to reason this out...
> 
> [url=http://www.jmbullion.com/1
> 
> I would not be afraid of this official looking coin, as an addition to the standard of Eagles and Maple Leaves. It would, as your example does, need to have the 99% and weight on the coin. I believe they will be valuable currency. I do not like collector looking options like the skull you previously posted.


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## DadofTheFamily (Feb 19, 2015)

Here's my philosophy. as Krusty said, never buy "collector" silver and gold. Pay for the metal. Buy recognizable and assayed metals. Skulls, bullets, trinkets, etc are harder to sell. It will be easier to sell an Assayed Sunshine Gold Bar with hologram than a silver cast object.


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## tinkerhell (Oct 8, 2014)

krusty said:


> Just an FYI.
> 
> If you ever plan on buying silver coins and using it squarely for trade purposes (or the like) stay away from coins that are at premium - just because they look nice.
> 
> ...


You have peaked my interest. Where in Canada can I buy Canadian Maples for the price of the metal? The best place I can find is a few dollars above the value of the silver but they will buy back at full value.


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## Ripon (Dec 22, 2012)

The number of American eagles I have can be counted on two hands, they came to me at pretty good deals when I was buying junk silver and they were at spot (second hand not from a retailer). I don't know how anyone gets American Eagles or Canadian Maple Leafs or other Canadian coins at spot. I've not seen that by any business that wants to remain in business. I'm glad to pay a premium for Maple leaf silver coins and other Canadian's that I've alluded too on this forum many times. I pay the premium because in SHTF I'd trust them, and anyone that would discount them compared to *decoder ring coins* is not someone I'd barter with anyway. If I'm living in a SHTF world and someone brings me Eagles or Maple Leafs I have a lot more faith in them then someone who says look at my decoder ring.



tinkerhell said:


> You have peaked my interest. Where in Canada can I buy Canadian Maples for the price of the metal? The best place I can find is a few dollars above the value of the silver but they will buy back at full value.


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## A Watchman (Sep 14, 2015)

I am sure many of us here would like to know where precious metals can be bought for spot only.


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## Gimble (Aug 14, 2015)

Craigslist is your friend for PMs at or BELOW spot.


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## Montana Rancher (Mar 4, 2013)

DadofTheFamily said:


> Here's my philosophy. as Krusty said, never buy "collector" silver and gold. Pay for the metal. Buy recognizable and assayed metals. Skulls, bullets, trinkets, etc are harder to sell. It will be easier to sell an Assayed Sunshine Gold Bar with hologram than a silver cast object.





Dirk said:


> I am in a not too bad position. I would soon be out of debt. Just the last part of the house to go. The car and the bug out location are all done. so now is the question. Should I complete the payment on the debt on my house first quicker than I do now or should I just continue my regular payments for the debt on my house and should I use the rest to invest in gold, silver and coins.


IMO a good question

It depends on you timeline... IF you thing SHTF before you can pay off your house, spend the money on preps and stock them at your BOL.

IF you think you have time, pay off your house and sell it and use the money to retire/stock your BOL

Usually the home is where you work and make your money, and IMO your wife doesn't believe the S is going to hit the Fan, so you need to balance the priorities.

So many senerios and so little time...


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## krusty (Oct 7, 2015)

A Watchman said:


> I am sure many of us here would like to know where precious metals can be bought for spot only.


I agree trying to locate someone who will sell for spot prices is difficult.

A lot of my purchases came from here: Colonial Acres Coins

Of course they are in it to make money as well, so not exactly spot prices, but yet I have got some really good deals that I was happy with. They are honest, shipping was fast, and have a rep as they been around awhile.

I have also bought from Ebay, but you pretty much need to know what you're buying, and know what is a deal and what is not.

I have also had good luck with pawnshops. They like to argue over price, and usually carry coins they think are worth more than they are, but if you go in prepared to make a deal, and are a decent hagler you might do well.


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## sideKahr (Oct 15, 2014)

You should always have and be increasing a liquid emergency fund. When the value of that fund reaches the amount of your mortgage, you are then technically debt free, but you choose not to pay off just yet. Then make regular mortgage payments and buy preps and precious metals with discretionary money.


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