Quote:
Originally Posted by MediocrePlayer2.0
You know how football players sign a pledge to donate their brains for research after they die?
I wish goldbugs would do the same. I want to know what's wrong with your wiring.
Can't imagine what the wives and girlfriends (because lets get serious here, 99.99% of goldbugs are men) are thinking watching this solid bull market pass them by and they're ending up poorer because their stubborn guy just won't let go of his doomer fantasy.
You're better off hoarding cases of tuna than stacking coins
Read the post that I just posted above you and show me where I am wrong.
Also....it is interesting that you brought up football players...
I often think to myself, I should be the guy speaking about money management at these rookie seminars they have to get professional athletes ready for all aspects of life in the NFL, NBA, etc.
I'd tell them instead of worrying about saving your money and not going broke. All you have to do is take 25% of your contract money out of the bank, put it into gold, and spend the rest on houses, cars, gold teeth, watches, fancy vacations and so on with all the rest. Have 5 kids from 3 different women if you want too. No worries. And when you inevitably go broke, you'll have plenty of money off the books in gold and be able to get by just fine and not have to worry about paying child support.
Allen Iverson was making so much money in the early part of his career, or mid career whenever he got his first huge contract, he actually set up a trust to sock away 25 million I think it was and he couldn't touch it until he was 50 or something like that. If he had put that 25 million into gold coins back in the 90's when he locked away 25 million in the bank, he'd have the same purchasing power when he turns 50 as it had back in the mid 90's when he locked it away. Now that 25 million he locked away back then will only be worth about 10 million when he is able to collect on it.
So by trying to "save" money in the bank and not letting himself touch it until 2030 or whenever he turns 50, he actually would have been better off blowing 15 of that 25 million on hookers and coke than keeping it in the bank, and keeping just 10 million in gold coins back in the mid 90's to have the same purchasing power that he will have when he is able to unlock that 25 million when he turns 50.
Last edited by HawaiiSurf; 05-13-2017 at 11:50 PM.