Hey folks I'm here looking for some opinions and tips on how to go about shifting up my financial situation. First a little bit of back story, please try not to be too harsh on me for being such a PF noob.
A few years back I was weary of the stock market and caved into the hype of all the precious metals pumpers and began slowly buying physical gold/silver on a regular basis as a means of building some savings. I'm not upside down on my purchases by any means but it hasn't really done anything in terms of growth either.
Over time this has grown into a sizeable amount (for me) and after recently doing lots of reading on /r/personalfinance and /r/investing my outlook has changed on how I should be allocating my funds.
Below is a breakdown of how things are currently situated:
**Assets:** * Gold: $37k~ * Silver: $17k~ * Major Emergency fund (Ally Savings): $12k~ (6 months living expenses) * Minor Emergency Fund: $3k~ (kept in checking) * Vanguard IRA: $5,500 (just finally started this a few weeks ago) **Liabilities:** * Zero debts, recently paid off student loan and car loan :)
I have a decent job which leaves me with about $1-2k leftover each month after all expenses depending on commissions.
I realize that I should likely liquidate a lot of the metals but I'm wondering what I should reallocate to and how much?
I'm currently renting and have a pretty good deal where I'm living at but have thought about purchasing a house using the funds from the metals as a 20% down payment. I'm just nervous of another big market correction after seeing my parents make poor choices and lose everything back in 08, or are my fears totally unjustified?
Thanks for reading, looking forward to gaining some new insights.
Submitted May 08, 2018 at 02:48PM by OldAssignment https://ift.tt/2KJMygt
