How Much Silver Should A Prepper Have? Survival 101
Prepping with Silver and Investing in Silver
A good alternative currency WTSHTF is silver. It is good in a Prepper SHTF situation and as a long-term investment. Hopefully, we never experience a TEOTWAWKI scenario so having silver as an investment in a silver IRA (aka silverira) will help you in retirement and something that can be passed to your children and grandchildren. A good choice to be prepared and have an investment for your retirement years.
How Much Silver Should a Prepper Have?
Once you’ve taken care of everything else then you can look at purchasing silver. The amount depends on your goals and your budget. You can open a silver IRA account and do initial funding of the account to get it started and then set up an optional monthly purchase to build your account. The important thing is consistency as your account will grow as an investment, protection, and something that can be willed to your children and grandchildren.
Financial Crisis
In 2001 and 2008 there were major financial crises and precious metals like silver went to all-time highs in value. There was financial uncertainly, job loss, and decreasing home values.
Personal Savings with Silver
We all know that saving money in the bank with little to no interest isn’t going to grow your money. Inflation will eat away at the value of that money. Saving with silver will generally meet or beat inflation, so you’ll have a conservative profit margin that you can earn on your silver stack.
Why is Silver Important?
Silver is security against inflation (SHTF) or the potential collapse of the economy (TEOTWAWKI). There are different strategies that preppers have in regards to purchasing and storing silver and other precious metals. For safety, IRS rules, and insurance purposes, it is recommended to purchase silver from a company that can also store it for you in a secure depository. Storing it with a company makes it easier to trade or sell without concerns of counterfeiting. The lower cost of silver and the universal acceptance of this precious metal make it ideal during an economic collapse. Silver coins are instantly recognized and can be used to purchase needed items if ATMs and banks are unavailable.
Silver Rounds vs Coins
Silver rounds have minimal markings on them like mint name, purity, weight, and counterfeit measures like ridges. Rounds are cheaper to make than coins and therefore cheaper to purchase than silver coins. If your goal is to accumulate silver as a protection against inflation, for retirement, and to potentially will to your descendants, then rounds will allow you to get more silver. If you have the dual purpose of investing and protecting yourself in case of an SHTF or TEOTWAWKI scenario, the silver coins might be your preferred purchase.
Silver Bars vs Silver Coins
If you plan on storing your silver in a depository, silver bars take less room, are easier to store, and are easier to inventory during audits. If your goal is investing, then these are good reasons for purchasing bars. If you are looking to invest and prep, then you might want to do a mix of silver bars and silver coins.
Prepper SHTF or TEOTWAWKI Scenario
An economic collapse by an SHTF or TEOTWAWKI scenario would probably result in the world going back to the basics, back to the time before modern currencies, to where we would use bartering and precious metals. Silver coins would fit this need very nicely.
How to buy silver | Fast and Easy
Click the link below to speak to someone that can guide you through the process of setting up an account and get you started on your investment journey. They’ve been in business for well over a decade and have an A+ rating with the Better Business Bureau.
How much do I need to get started?
To get started with a gold IRA or a silver IRA, you need a minimum investment of $25,000 with Goldco. Got questions? They have answers and professionals to get you through the simple, 3 step process.
