Unca's Big Leap

[Unca Walt]

Yesterday, I made the Big Leap.

My Red Witch and I cashed in my insurance annuity. Kept a minor amount of cash in the bank and got a Cashier's check made out to my LCD with the rest. Got some silver rounds, Valcambi fractional gold slabs, and junk silver.

I call it my Big Leap, because yesterday was the day I stopped stacking. I started when I bought my first Krugerrrands for $198 including vigorish. That was 1978, IIRC.

I am now off the "system". No mortgage, no debts. Dollars only kept for the Interim**

**Interim until dollars equal bolivars and pengoes.

For those with annuities, or savings in banks or mattresses, know this:

The US Federal Debt-to-GDP Ratio:

34.74% in 1960.

54.91% in 2000 <-- Notice the 20% baad rise in forty years.

But now, Pilgrims, we come to the crashing end of the US Dollar :

122.17% <-- The Federal debt exceeds the GDP!!

Source: https://www.usdebtclock.org/

The Old Guy has told you. Are you Listening with a capital "L"? How much time do think you have?

 

[pmbug]

That's a big move Unca. I think the existing system teeters on for a few more years at least barring a significant change in international trade with the dollar.

 

[Voodoo]

That appears to be some excellent timing. Just looking around to see if I have anything big to cash in... nope.

 

[nickndfl]

I got a nosebleed from these gold prices. I am standing by for < $2k gold spot. I got enough silver to last a small zombie apocalypse.

 

[MrLucky]

"I got enough silver to last a small zombie apocalypse"

For making silver bullets?

 

[spinalcracker]

Unca you are an inspiration!

is this a decent price/deal?

I am in the buying mode for some silver

 

[Casey Jones]

I did this three years ago. Dumped the last of my IRAs, when I was old enough...I didn't know about the Great Taking, which apparently the Banksters have been planning a long time...but I put the money into cash, and the cash into gold.

Also put a little bit of it into a moderately-fancy truck and RV trailer - the idea being I'd be a snowbird vagabond. Unfortunately, that plan didn't work out...except that, thanks to the Vaxxident I had, I got basically made whole on all of it, better than I could do on the Liste of Craig.

Yeah. It is time to get serious. Life is looking to be....interesting...the next couple of years.

 

[Unca Walt]

Unca you are an inspiration!

is this a decent price/deal?

I am in the buying mode for some silver



View attachment 11520 Very fair price. Here is how you can remove all guesswork. It is scary-simple:

@spinalcracker

1. Take the spot price at the time of the ad (right now it is $24.23)

2. Lookit the offer price (say, for $100 face value of dimes and quarters) -- Now as I type this: $2,050.00

3. The vigorish for gathering, bagging, advertising, and shipping comes to $373 or 8% on a $2K+ deal.

Compare that vigorish to any commodity. Whiskey. <-- Does the liquor store make 8% on a bottle of scotch? As a matter of fact, NOPE. The vigorish is 20%-50%.

My LCD runs on 7%. But you would blow that on gas just to get to an LCD. APMEX is reliable, and they mail you the stuff with no effort or expense on your part.

LATE EDIT ADD: The vigorish percentage drops when you make a larger buy. For instance, a face-value bag of $1000 junk goes for $18,615, or around 7%.

 

[Unca Walt]

I did this three years ago. Dumped the last of my IRAs, when I was old enough...I didn't know about the Great Taking, which apparently the Banksters have been planning a long time...but I put the money into cash, and the cash into gold.

Also put a little bit of it into a moderately-fancy truck and RV trailer - the idea being I'd be a snowbird vagabond. Unfortunately, that plan didn't work out...except that, thanks to the Vaxxident I had, I got basically made whole on all of it, better than I could do on the Liste of Craig.

Yeah. It is time to get serious. Life is looking to be....interesting...the next couple of years.

Well, it's cold as a bitch down here this moanin: 55F outside. Oh, it'll get into the 70's later. <-- We keep the house at 72F year round. If you are mobile when TSHTF, get yer arse to the Sneakydicker Househole. I've got guns, ammo and devices... and more importantly, nobody has died of exposure in South Floriduh in recorded history.

Up there in Antarctica is a life-threatening location by the hour if power goes out.

 

[Voodoo]

55 is cold as a What? Lots of people up north think that's waay too hot.

 

[Viking]

Well, it's cold as a bitch down here this moanin: 55F outside. Oh, it'll get into the 70's later. <-- We keep the house at 72F year round. If you are mobile when TSHTF, get yer arse to the Sneakydicker Househole. I've got guns, ammo and devices... and more importantly, nobody has died of exposure in South Floriduh in recorded history.

Up there in Antarctica is a life-threatening location by the hour if power goes out.

“I've got guns, ammo and devices”

living in South Florida you’re going to need them.

 

[Casey Jones]

55 is cold as a What? Lots of people up north think that's waay too hot.

Sarcasm, my friend.

Walt and I have gone round on this a long time. He's been after me to move to Floriduh. And I had looked into it...for four years and more, half the damn country wants to move out there. Prices have just exploded. The only way I could afford to do it is as a seasonal snowbird...in fact, since a year ago, I couldn't even do THAT.

A real nice RV camp I had found, Camp Mack, had affordable monthly rates, January 2022. $700, all services included. Trouble was, at the time, my RV, a little micro-mini, didn't have a lavatory or shower. Using the communal outhouse didn't bother me; but public showers, really get nasty. Ringworm (Athlete's Foot) infection from floors that are never dry, is a real worry.

So I got a bigger RV with plans to return. Camp Mack almost doubled their monthly rates, last year - staying there and also paying for gasoline, that had also doubled in price, was just not worth the money. But I had the trailer, and thought I'd hang onto it. Out for a mid-summer outing in Liberal-land (with a dirt-bike group I knew and had ridden with, good people) I had my Vaxxident head-on. Driver was dead of Died Suddenly.

So was my truck and trailer dead. THAT was epic - trailer ran in on the truck, bent the frames of both, and shoved the car over the nose of the truck, to park like they were being stacked. I was uninjured.

And aside from the cancelled outing, inconvenience and expense of getting home, I was reimbursed fairly.

But, I just decided, Florida will remain a dream.

But right now, a Plan B makes sense. Although I sure hate to come down as a beggar...I'm bringing really, nothing but a few boom-sticks and an appetite.

 

[Voodoo]

After this recession and housing slump, I have a feeling you will be able to take your pick with a couple silver rounds.

But they really do complain about winter when it drops briefly into the 40's. My dad moved down to the villages awhile ago now. Uh huh, man that sounds awful, how do you all survive.

 

[Ttazzman]

main thing in the original post i like is the "no debts and no mortgage" ......there is a striking difference in life when your totally out of debt .

my retirement funds are taxable .....so i slowly bleed them out, but may never accomplish getting them out of the system at a reasonable tax rate ...

 

[Voodoo]

I don't know... we got totally debt free a few months ago. Seems kinda boring now. Though probably a good thing as work is slowing down.

 

[Joe King]

Yesterday, I made the Big Leap.

Congrats!
....but I must say that when I first read your thread Title, I thought you were gonna say you went sky diving. lol

main thing in the original post i like is the "no debts and no mortgage" ......there is a striking difference in life when your totally out of debt .

I never got to know that difference, as I've never been in debt for anything.

 

[Ttazzman]

I don't know... we got totally debt free a few months ago. Seems kinda boring now. Though probably a good thing as work is slowing down.

yes its boring......thats part of the point......after a bit you will notice how others are running a treadmill and their rising costs of living and stress levels

 

[Ttazzman]

Congrats!
....but I must say that when I first read your thread Title, I thought you were gonna say you went sky diving. lol



I never got to know that difference, as I've never been in debt for anything.

i never carried debt other than mortgages and even then usually had enough net worth to pay it off if needed..........freedom vs slavery is a real thing.........the idea of working to pay intrest on depreciating items was something i never could come to terms with

 

[Viking]

i never carried debt other than mortgages and even then usually had enough net worth to pay it off if needed..........freedom vs slavery is a real thing.........the idea of working to pay intrest on depreciating items was something i never could come to terms with

Debt free, but also have to pay rent (Property Tax). Low currently, but I can envision governments getting desperate for money and making that much higher.

 

[Ttazzman]

Debt free, but also have to pay rent (Property Tax). Low currently, but I can envision governments getting desperate for money and making that much higher.

i passionately hate property taxes ....... since we dont have building regulations etc here about every 2 years the county has assessors come thru and check things out for new construction, last time they (women assessors) came thru i had their ear and complained about property tax and how it could affect fixed income seniors ....and they informed me that missouri has a program that can freeze property taxes when you turn 65 i will look into when its applicable .............but i agree .......property and personal property taxes i passionately hate even though they are low here

 

[Voodoo]

i passionately hate property taxes ....... since we dont have building regulations etc here about every 2 years the county has assessors come thru and check things out for new construction, last time they (women assessors) came thru i had their ear and complained about property tax and how it could affect fixed income seniors ....and they informed me that missouri has a program that can freeze property taxes when you turn 65 i will look into when its applicable .............but i agree .......property and personal property taxes i passionately hate even though they are low here

They are much higher here because the town hit its peak in like 1910-1920. The property taxes are like 2.4-2.7% of market values, which held back the market forever. Anyway, you do NOT have to let those people onto your property. About 30% of the people here did not let them onto the property to reassess the properties (because they did their job so poorly and are waay off from actual values). Of course, that meant they made shit up and those people got the highest assessments.

 

[pmbug]

...and they informed me that missouri has a program that can freeze property taxes when you turn 65 ...

Is this different/separate from a Homestead exemption? Where I live, Homestead exemptions cap the amount of property values that can be used for tax assessments to no more than 10% a year. So if your property was assessed as being worth 30% more than the previous year, they could only raise your property tax by 10% per year until (if) the tax catches up to market value. It doesn't cap the maximum tax though - just the rate of increase.

...

Just did a search and apparently Texas passed a law last year (2023) doing the same thing:

New Texas law gives elderly and disabled property tax break

The new year is bringing with it new laws. For the first time in Texas history, a new bill is giving property tax breaks to those who are disabled or over the a

cbsaustin.com

 

[Casey Jones]

Is this different/separate from a Homestead exemption? Where I live, Homestead exemptions cap the amount of property values that can be used for tax assessments to no more than 10% a year. So if your property was assessed as being worth 30% more than the previous year, they could only raise your property tax by 10% per year until (if) the tax catches up to market value. It doesn't cap the maximum tax though - just the rate of increase.

...

Just did a search and apparently Texas passed a law last year (2023) doing the same thing:

New Texas law gives elderly and disabled property tax break

The new year is bringing with it new laws. For the first time in Texas history, a new bill is giving property tax breaks to those who are disabled or over the a

cbsaustin.com

It's handled state-by-state, and differs wildly. In some states, counties can offer the exemption.

Forty-four years ago, when I was a part-time newspaper writer, my New York county (Chautauqua) enacted a flat-out 50-percent rollback in real-estate taxes for resident (not landlord) owners 65 years of age and older. Which sounds generous, until you consider what New York real estate taxes average.

In some Ohio counties they have a Homestead exemption similar to what you describe. It may be statewide. I don't think my mother qualified for it - in going over her tax records, and receiving her home, after her passing, I didn't see any credits or exemptions, and my taxes were similar. But years earlier, living in Lake County, I knew of some elderly owners who had such an exemption.

 

[Ttazzman]

They are much higher here because the town hit its peak in like 1910-1920. The property taxes are like 2.4-2.7% of market values, which held back the market forever. Anyway, you do NOT have to let those people onto your property. About 30% of the people here did not let them onto the property to reassess the properties (because they did their job so poorly and are waay off from actual values). Of course, that meant they made shit up and those people got the highest assessments.

8 or 10 yrs ago i had a gates open (purple painted mind you) and i was down in the valley on a tractor mowing ....down the hill past the gate comes the assessor ladies (two gals in a marked truck with lifetime jobs) ........i met them at the bottom of the hill.....got a bit cranky and direct..... basicly told them they could google earth it or fly drones over it or contact me for a escorted visit but not to go past purple paint again on my property open gate or not as their safety would be at risk........they have honored that request and call before they come now and i give them descriptions of any changes i have made........last visit was during the height of covid.......i of corse met them at their truck window and did some coughing while giving the update ........they didnt stay long ........LOL..........overall results have been good with no meaningful assessment changes since the initial problematic visit

 

[Viking]

8 or 10 yrs ago i had a gates open (purple painted mind you) and i was down in the valley on a tractor mowing ....down the hill past the gate comes the assessor ladies (two gals in a marked truck with lifetime jobs) ........i met them at the bottom of the hill.....got a bit cranky and direct..... basicly told them they could google earth it or fly drones over it or contact me for a escorted visit but not to go past purple paint again on my property open gate or not as their safety would be at risk........they have honored that request and call before they come now and i give them descriptions of any changes i have made........last visit was during the height of covid.......i of corse met them at their truck window and did some coughing while giving the update ........they didnt stay long ........LOL..........overall results have been good with no meaningful assessment changes since the initial problematic visit

How is your property zoned? I was thinking maybe some chickens/goats, etc. and see if I can get it zoned agricultural.

 

[Ttazzman]

mine is zoned agricultural

but but land and structures can be and is assessed for value in 3 different categories ....agricultural....residential.....commercial......avoid at all costs the "commercial"

for example my property is all "zoned" agricultural........but living structures are assessed as residential.... barns, land and ag buildings are assessed as agricultural.....and on one property we have a steel fab shop that used to be commercial but we quit using it for that and now its just a agriculture building .... which is a major difference

point is .....land is assessed for value as it is zoned....but structures are assessed as how they are used no matter the zoneing ....

EDIT to add.... here is one of my parcels that is zoned ag...but has two different assessment values (just happened to be working on this stuff)

its good to be aware that you can have structures that do not conform to the zoneing for assessment ...a perfect example is someone with a business in their home can potientially create some very negative property tax issues for themselves if discovered

 

[Joe King]

8 or 10 yrs ago i had a gates open (purple painted mind you)

What is the significance of the purple paint?

 

[Viking]

What is the significance of the purple paint?

Viking fan?

Or maybe a Prince Fan?

 

[Joe King]

Or maybe a Prince Fan?

That's prolly what it is. lol

 

[Ttazzman]

What is the significance of the purple paint?

in our state it has the exact same meaning by state law as a "no trespassing and/or no hunting sign" .......the good thing about paint is it doesnt fall off get moved or stolen...and you can paint a stripe on trees etc, the law includes height, distance etc requirements just like a sign

i keep a case of purple spray paint

 

[Viking]

Purple Paint Laws by State​

State	Year Enacted
Arkansas	1987
Illinois	2011
Indiana	2020
Kansas	1997
Missouri	1993
North Carolina	1993
Texas	1997
West Virginia	2016

• The purple paint law is currently recognized in 12 states, including Arkansas, Illinois, Kansas, Louisiana, Missouri, North Carolina, Maine, Florida, Idaho, Montana, Arizona, and Texas.