Author Topic: Should I Sell My Car and Silver?  (Read 1763 times)

Felipe

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Should I Sell My Car and Silver?
« on: August 03, 2017, 10:10:23 PM »
I'm moving out of the country in December and debating on keeping my car and silver or selling them.

There is some emotional attachment to both the car and the silver so that makes this harder. I'd keep them at my family's house but there is a sitting cost to keeping it at the house and it will keep depreciating when I could invest that instead. The car is also a just in case for when I'm in the area but my family already has multiple cars so this isn't an actual need.

The silver was my first investment but I have some losses on it I could harvest if I can find the receipt.

I could always buy another car if I ever move back to this country and buy the silver in an etf if I wanted the equivalent.

The only actual benefit is that if a solar storm wipes out all electronic data, the silver is still okay. The car would probably not work.

What do you think- Should I sell my silver and car?

Feivel2000

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Re: Should I Sell My Car and Silver?
« Reply #1 on: August 03, 2017, 11:57:12 PM »
I'm moving out of the country in December and debating on keeping my car and silver or selling them.

There is some emotional attachment to both the car and the silver so that makes this harder. I'd keep them at my family's house but there is a sitting cost to keeping it at the house and it will keep depreciating when I could invest that instead. The car is also a just in case for when I'm in the area but my family already has multiple cars so this isn't an actual need.

The silver was my first investment but I have some losses on it I could harvest if I can find the receipt.

I could always buy another car if I ever move back to this country and buy the silver in an etf if I wanted the equivalent.

The only actual benefit is that if a solar storm wipes out all electronic data, the silver is still okay. The car would probably not work.

What do you think- Should I sell my silver and car?
I think you know the answer.

onemorebike

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Re: Should I Sell My Car and Silver?
« Reply #2 on: August 04, 2017, 02:52:57 AM »
Spring break? :) Seriously, how long will you be gone?

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Felipe

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Re: Should I Sell My Car and Silver?
« Reply #3 on: August 04, 2017, 12:12:40 PM »
I'm planning to be gone 2 years. But I may not want to even come back to this area or country, in which case I'd have my family sell my car but it'd already have depreciated some. If I came back to this area, a nice (sub10k) car would be waiting.

After spelling it out, logically I know selling at year end is likely a more financially efficient decision.

I'm generally good about decluttering but these 2 are hard to let go of.

ysette9

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Re: Should I Sell My Car and Silver?
« Reply #4 on: August 04, 2017, 12:49:03 PM »
The car is a depreciating asset and will only lose value while providing you nothing in return while you are away. Sell that sucker and put the money to good use.

As for silver, I don't even agree with the statement "silver is an investment". If your goal is to lock up your assets in a way that they fail to produce anything for you. for the 0.002% chance that the world ends AND somehow people decide they want a piece of pretty metal instead of something useful like food or tools, knock yourself out. Personally I think of a hundred better things to do with your money, but you have to make decisions that let you sleep well at night.

Feivel2000

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Re: Should I Sell My Car and Silver?
« Reply #5 on: August 04, 2017, 01:09:23 PM »
I think the car is a must sell. The silver on the other hand... Could be simply part of your portfolio. You just need a safe spot to keep.

Felipe

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Re: Should I Sell My Car and Silver?
« Reply #6 on: August 04, 2017, 01:34:22 PM »
@ysette9

Thank you for the clarity and for reminding that if money and all data are wiped-guns, ammo, tools, and useful things are probably a million times more valuable for both survival and trade than a handful of metal. As a hedge, an etf will work far easier and with lower overall fees. I feel far more comfortable now with the sell. I had this sense that my old style of thinking wasn't working anymore but I needed that face punch.

You got me so motivated, I made some calls and I figured out selling the silver won't be hard.

Car is worth a little more than I previously thought so this will add a nice unexpected cash flow.

ysette9

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Re: Should I Sell My Car and Silver?
« Reply #7 on: August 04, 2017, 01:40:46 PM »
Nice! I hope the transactions go well for you on both fronts. Have a great time overseas.