hey everyone welcome to bald guy money I am bald guy and a few weeks ago I shared these very sobering statistics on us Social Security with you all and what I said was that numbers coming from the CBO which is the US Congressional budget office clearly show us that the US social security system will run out of savings by 2033 at the latest at which point they will have to cut benefits to recipients by a minimum of 25% to adjust to the reality of the program's income versus the cost of the program or and this was the alternative option that I presented they will have to turn to the more likely solution of just printing and borrowing more money into existence to keep the Ponzi scheme going now if you're watching outside of the United States and think this doesn't apply to you think again because the underfunding of national pension programs in countries around the world has been an issue that media Outlets have been covering for years now as you can clearly see with this 2016 CNBC article that references atrisk systems in countries that most of my non- us viewers live in and this problem is so bad mainly due to declining birth rates that it's even impacting countries like China despite impressive economic growth over the past 30 plus years as a consequence of their one child policy now circling back to the video from a few weeks ago after I delivered the message I encouraged everyone to prepare themselves accordingly those of you who saw that video will remember that message and in this video I want to show you all what I think prepare yourself accordingly means in 2024 by breaking down the latest retirement data for the countries you see on the screen here while taking into account retirement age life expectancy and cost to retire for both a basic and comfortable retirement while factoring in the cost of Liv living versus pension benefits in order to determine how much of a gap between your pension and the cost of living you should start preparing to cover right now and how much gold and silver you need to make your retirement happen and that's whether you want to fully fund your retirement with precious metals at the 100% level or cover as little as 10 25 or 50% of your retirement with precious metals all options will be covered in this video now just before we dive in I want to remind everyone that I have six free articles available for you to read on different gold and silver related topics at Summit medals.com with a new one on the gold to Silver ratio dropping very soon so make sure to look out for that one and for my American viewers if you are looking to add a little gold or silver to your stack whether it's for retirement or just good old savings please check out our growing offer at www.summit.com we've got great prices on top of our five-star service including 10th ounce gold branas at under $300 a piece right now and I will leave links to what I think are the best deals in the comment section below so please check them out okay so we're talking about retirement and using gold and silver to help you get there and have an enjoyable retirement and that doesn't mean you shouldn't have stocks a 401k or an rrsp if you're Canadian or something else other than medals that's not my message it never has been and it never will be because as well as precious metals have been performing lately you can clearly see here in the red box comparing 25-year performance of precious metals versus the S&P 500 that if you had purchased $200 a month in silver gold and S&P 500 stocks that the stocks have clearly performed best that said it doesn't mean stocks are bulletproof and that the S&P 500 is as sure as death and taxes like some people like to say it is because we've seen long periods of time just like the period between 2000 and 2012 where the S&P 500 not only did very little but also significantly underperformed precious medals in this case in an uncertain post 911 geopolitical environment as well as an environment that was challenging to the very Financial system itself and although I think we are entering such a period right now with high geopolitical risk and danger to the Financial system caused by debt I think it's important for everyone watching this to consider these two great quotes from billionaire investor Rayo which are in essence telling us number one make sure you secure yourself on multiple fronts and number two don't forget to make gold one of the security mechanisms you use so as we get to the numbers I just want to say that I'm not here to judge anyone's plans or preferences and as I did in May of last year I have used the following assumptions to get an idea of how much gold and silver people will need to fund or supplement their retirement income and as a reminder this data best applies to homeowners and we're assuming a retirement age of 64 and a life expectancy to 79 so preparing for 15 years of retirement we are of course dealing with data taken from National averages I have converted all figures to us dolls so we can compare the numbers directly to one another and my retirement scenario assumes an 80% allocation to gold and 20% allocation to Silver based on prices today the reason being because gold is less of a speculative medal than silver is it's a tier one asset and as a result is less volatile which is a more reliable store of value for retirees so the first set of data we're looking at here is how much it actually costs to retire as that's the most important number we really need to identify here and yes in dollar terms these numbers have obviously increased since the last time I showed them to you but what we're focusing on here is this calculations covering the cost per month of retirement in each country from that number we take away the average social security and pension payment and by doing that we identify the gap between what we need and what our pensions cover and I've highlighted these numbers here in the red boxes on the screen with this number the total Gap during retirement being the number we need to secure before retiring in current US dollar terms and that number needs to be secured in a way that at least offsets inflation over the 15-year time period that we're looking at because holding it in cash is not going to be good enough especially as that cash loses value when governments step in and start printing more money to cover National pension and Social Security shortfalls which ultimately means you are taking a cut in benefits via the inflation tax but luckily and as we've seen over the past year precious metals are a fantastic way to offset the irresponsible behavior of central bankers and politicians because the prices of gold and silver have risen faster than the cost to retire since the last time I looked at these numbers as a result and you can see the numbers here on the screen now the cost of fully funder retirement in silver and gold in the United States has gone from 81 oun of gold and 1,617 O of silver last year 267 ounces of gold and 1,371 O of silver today and that may seem like a big change but let me just flip over to this chart quickly because gold and silver are hitting significant highs in Australian dollar terms right now and the silver price is higher today than it was even at the 20150 US high in Australia because their dollar is so weak right now now switching back to these basic retirement numbers as a result of these record high prices in Australia the cost of fully funding a retirement on gold and silver currently stands at almost half of what it costs in the United States and some 40% less than what it was when I showed this data in May of last year which is of course an excellent case for saving for retirement in Precious Metals as opposed to saving in cash now as you look at these numbers and we will get to the comfortable retirement numbers in a moment I just want to encourage everyone to screenshot this data as a future reference because at the start of this video I said to prepare yourselves accordingly and I think a part of that preparation is deciding on how much of your retirement you want to have covered by precious metals is it 10% is it 20 25% 50% or 100% as I've shown in these scenarios here and once you've decided on that here of course I've presented the amounts of gold and silver you need so you can start working towards that goal today and again that's why I encourage everybody to screenshot this data once again right now so with the basic numbers out of the way we move on to what it costs to fund a comfortable retirement and these are the numbers I think people should be especially focused on not because I think living a basic lifestyle is not good enough but because it never hurts to over prepare for something now as with the last numbers I encourage you to take a screenshot of this for future reference and as you do that instead of reading these numbers off one by one I want to share my opinion on these numbers and what I think the best way to prepare is so of course 10% is the minimum I would be ready to stack as a coverage level for my retirement in precious metals being gold and silver only no platinum and the last time I did this video I set the 10% Challenge and I said that I challenge everyone watching the video to get to their 10% number and if you took that challenge and you got there I'd love to hear about it in the comments section but I will say this 10% from my point of view is only a start it's a great start and it means you're probably ahead of 90% of your family and friends so if you did get there if you are there right now congratulations but considering the major risks associated with inflation and currency debasement as a result of unfunded National pension plans around the world if you don't want to end up working until your 75 years of age I would highly suggest considering the 25% coverage level and here are those numbers once again for both the basic and comfortable retirement levels and are they ambitious for some people yes I have covered affordability issues lately here on the channel and I understand that 15 ounces of gold and 300 ounces of silver may seem like huge numbers for some they may seem like impossible targets especially for young people who can't even afford a house today but what I will say is this stacking gold and silver are a journey preparing for retirement is a journey and it lasts many years it's literally a marathon it's not a Sprint and along the way some of those years are going to be better along the way some of those years are going to be worse that said if you make a plan and stick to it you can get to these levels and these numbers are intended to be a map to help you reach that destination now with that said it's time to move on to this video's viewer question but please let me know what you thought about those numbers and about my suggestion to plan for the 25% scenario considering coming cuts to National pay pensions that I anticipate and if you have any questions on anything I discussed please remember to also leave those questions in the comments section below as I answer one question from a viewer in every video I do and this week's question comes from Luna booths 2 and Luna wants me to do a comparison of fractional gold and junk silver as they relate to a future barter scenario and I love this question because it fits in very well with the topic of planning for the future and let me explain why a couple weeks ago I showed you all what the inflation adjusted value of gold and silver would be if my 2033 price targets came true and here are the unadjusted targets here on the screen right now so moving over to the inflation adjusted targets considering two inflation scenarios and some of you commented that I had the numbers mixed around but remember the numbers are fixed at my target levels and the higher the inflation rate the less real value they have so the numbers are in the correct position anyhow if we're seriously going to talk about $5,000 gold and $100 silver at current dollar values we need to seriously talk about fractional gold and fractional silver because I assume the majority of things most of us purchase when looking at single items of course cost less than $100 and if these numbers are to come true it means 1 gram of gold which is the lowest size I think makes sense to purchase right now and one constitutional us dime which contains 90% silver will be worth a minimum of $187 $722 per piece respectively and that makes a strong case to own them not as a majority of your stack but as a small position just in case as I covered in this free article on the types of gold and silver I buy at Summit medals.com because as much as I don't think we will see a total collapse of the financial system I of course expect continued debasement of fiat currency with in the current system that we that we operate today maybe with some slight changes it doesn't mean I don't prepare for such a scenario where I may need to use these things directly to purchase something if things really get bad and that would be the barter scenario right and considering what their value may be as I've just shown you if I want to be ready to make smaller purchases like bread or milk with fractional silver I'll be ready to and I'll also be able to cover larger expenses like weekly groceries with small pieces of fractional gold or full ounces of silver again if that scenario comes along but even if it doesn't come and we see continued debasement of fiat currency as I expect to see the beauty of these fractional pieces is that I can convert as much or as little as I need to fiat currency whenever I need to to cover for example an immediate expense without having to convert larger denominations into Fiat and accepting the risk of debasement if I can't spend it all or don't need to spend it all at that moment in time now the truth about these fractional pieces is that they come at a higher premium than the larger denominations and here are some examples that are available online right now at Summit medals with premiums above spot shown underneath to illustrate this example and why I'm showing you this is because of how it plays into my strategy because I am willing to pay slightly higher premiums to have about 25% of my gold stack in fractional pieces because I believe the risk of the price of gold becoming really unaffordable for many people making 1 o coins very difficult to sell is much higher than us reaching a barter scenario and because of that reason I'm less willing to accept higher premiums that come on fractional silver pieces like the quarters that you see on the screen and like the half dooll Benjamin Franklin coins that I have with me right here as I'm making this video and the reason for that is because as I just mentioned as I just mentioned I see the odds of gold becoming unaffordable as being much higher than us entering a barter situation and for that reason when it comes to fractional silver whereas about 25% of my gold stack is in that in those fractional pieces today only about 5% of my of the total amount of silver that I own is in fractional silver which I stack in the form of junk us constitutional silver now to close this topic I think both will always be widely accepted as money in the future even in the unlikely event of a barter situation simply because they have always been seen as money and I think they will always be seen as money though that being gold and silver but if my answer has revealed anything about my preference between fractional gold and fractional silver I think it shows that although I have both and I encourage everyone watching this video to stack both as well and I encourage my family and friends to do the exact same thing when they're entering gold and silver obviously I prefer fractional gold at the end of the day mainly because I see more people being priced out of gold in the future than being priced out of silver so with that said that's it for this video please let me know what you thought about it in the comment section below if you liked it please remember to leave a like and we are getting very very close to 50,000 subscribers on this channel so if you're not subscribed yet please hit the Subscribe button right now and share this content with people who you think need to see it and until the next time we see each other everybody take care of yourselves and take care of each other I'm wishing you a fantastic week ahead goodbye he