Q&A With The Doc: My Life Savings are Invested in Silver & I’m Scared to Death About Surviving Retirement

Glenn writes:

Being 71 years old and having lost a lot of my hard earned money like a multitude of Americans have. I have what savings I have left totally invested in Silver. Income wise, going broke monthly. I read your articles several times a day as they change. I applaud you and your staff and contributors for what is posted.

My question to you Sir is what is Silver going to do in price? I get so many mixed signals that frankly I am scared to death about my wife and I being able to survive in our retirement. I am familiar with world economics and the world being awash in Fiat money, but would be honored to know what your opinion is regarding the safety haven in Silver.
Thanking you in advance for your time and look forward to your reply.

Glenn, I believe we are nowhere near the end of the bull market in gold and silver.
None of the fundamentals that have propelled silver from $4 to $49 have changed, and the general public is not close to even considering investing in PM’s.
Unlike cash and fiat currencies, I can guarantee silver will never go to zero.
There is much less risk in silver at $28 than 15 months ago at $49.  A stock such as a junior mining company may likely present much greater risk if its price is cut in half- as the risk of the entire company going off the board are real.    Just the opposite is the case for a physical commodity such as silver.  The lower the price goes the less risk you have in holding the asset.  Unlike the stock of any common company (or bond, currency, or any other paper asset) Silver absolutely cannot go to zero.

The purchasing power of gold and silver have held up extremely nicely over the last 100 years vs. federal reserve notes, which have lost 97% of their value since 1913 when The Fed was started.

I personally have nearly 100% of my holdings in physical gold and silver, and I sleep as sound as a baby at night.
While it’s possible silver could still break down lower over the short term (personally it looks more likely a bottom has been placed, and silver has broken out of its wedge formation to the upside), long term there is no way out of our massive debt crisis besides default and currency devaluation (Quantitative Easing).  I expect the politicians to continue attempting to kick the can further down the road as long as they can (QE) rather than defaulting.
You state your emotions have you ‘scared to death’ – it’s important to separate your emotions from trading/ investing (or do the exact opposite of what your emotions tell you).

The hardest part about surviving a long term secular bull market is not being right, but sitting tight.