Can I hold for the long-term? This is the third question you should ask yourself in the process of establishing whether you are ready to buy/acquire silver. If you missed the previous questions, you will find it here.

In order to establish whether you can buy and hold silver for the long-term, physical silver that is, you need to consider your personal financial situation. There is no sense in buying and holding silver for the long-term if you cannot afford to do so, especially in terms of the cash flow needed to cover your immediate or short-term needs (food, water & electricity, shelter, etc.). There is more than one way to establish whether your personal financial situation affords you with the opportunity to buy and hold physical silver for the long-term. However, for the purpose of this exercise, we shall only focus on the self-assessment on the next page…

SELF-ASSESSMENT: PERSONAL FINANCIAL SITUATION

Complete this self-assessment by either selecting A for Always, R for Rarely or N for Never in each instance. As a rule, do you:

  • Plan ahead for large expenses (e.g. buying a car)?
  • Make product price comparisons when you shop?
  • Save at least 10% of your net income on a monthly basis?
  • Keep a budget and set financial goals?
  • Pay your bills on time (mortgage, rent, etc.)?
  • Spend no more than 20% of your income on debt (excluding home mortgage)?
  • Try to keep at least three months of your net income in reserve to use in emergencies (e.g. car breakdown, job loss, etc.)?
  • Only use credit when you have money in the bank to cover the charge or when making expensive purchases?

If you’ve predominantly selected A, then it would be relatively safe to assume that your personal financial situation affords you with an excellent opportunity to buy and hold physical silver for the long-term.

If you’ve predominantly selected R, then it would be relatively safe to assume that your personal financial situation affords you with an average opportunity to buy and hold physical silver for the long-term.

If you’ve predominantly selected N, then it would be relatively safe to assume that your personal financial situation affords you with little opportunity to buy and hold physical silver for the long-term.

Now the above must not be seen as the ultimate assessment in determining whether you can buy and hold silver for the long-term or not. It should however give you a good indication, firstly, of whether you will be able to afford physical silver at present, and secondly, whether your personal financial situation will afford you with the opportunity to hold physical silver for the long-term (assuming of course that you don’t experience a severe personal financial crisis). Even if you’ve predominantly selected N in the self-assessment above, there are steps you can take to improve your personal financial situation. It starts with a positive outlook despite the severity of your personal financial situation or the circumstances you find yourself in. If you tell yourself that you cannot do it and are not willing to take steps to improve your personal financial position to the point where you can afford to buy and hold physical silver, then you should not even try.

Now some of you might ask why the long-term, why cannot I buy and hold physical silver for the short-term?

Due to silver market manipulation and the “paper gimmick,” it’s not wise to buy and hold silver over the short-term, meaning that you buy and hold silver only to sell it overnight. The reason being is because the risk of suffering a loss over the short-term is far greater than the risk of suffering a loss over the long-term. Chances are better that silver market manipulation and the “paper gimmick” will come to an end in the long-term than the short-term. The day when the naked shorts, the ones selling paper silver which is not backed by any physical silver, goes bankrupt and fiat money once again becomes obsolete, you will be glad that you’ve bought and hold unto physical silver for the long-term. Yes, you can buy paper silver and try to profit over the short-term, but Silver Bullion is not in favour of such a move. In fact, Silver Bullion doesn’t like paper silver and will never like it. It is 8 times out of 10 used to con and to rob people. Physical silver is real silver, silver one can hold, touch and feel.

Decision time…

Now back to the original question: “Can I hold for the long-term?” If you can answer “yes” to this, then you’re ready to move unto the next question in the process of establishing whether you are ready to buy/acquire silver or not. If “no,” then we salute you for your honesty, but do recommend that you get your personal financial situation in order, because you certainly don’t want to be caught with your pants down somewhere down the road.

The next question: “Do I have spare or extra cash to buy with?

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