Does it make sense to sell my gold to get myself to 1,000 or 2,000 shares of VOO faster?
Hello my friends,
I have maybe 150k worth of gold and silver bullion. After digging myself out of college debt this is what I was working on, I really didn’t know anything about investing or stocks at that time and just wanted a pirate treasure I could hide in a vault. A poor choice for a very first investment.
Ten years later I am questioning if I should begin to sell 1 gold coin per year to buy VOO or something until I have spent down all of the gold.
Here is my situation:
Age 39 - no dependents, gamer - can save 30% income, salary 75k
401k gets a 6% match that I meet but don’t exceed - current balance is 100k into low cost ETF
Roth IRA has 220k - I contribute annual maximum. Currently in cash
Robinhood has 180k - I contribute 5k-10k per year if I have it. Currently in cash
Silver coins 500 Troy oz in home safe
Gold coins 37 Troy oz in safety deposit box
5k cash emergency fund (savings account)
Lately I have very little appetite for volatility and I don’t want to be looking at the stock market or my portfolio anymore. I made some money on tickers but I was watching too much stocks news and I don’t think it’s overall good for my mental health, even to beat the market. So I had it in my head like “just get to 1,000 share of VOO as fast as possible and the rest will work itself out” I want something simple for a plan so that I’m not interested in share prices or line charts each day.
- is 1,000 shares of VOO a reasonable goal for my first step towards retirement? Split between the ROTH IRA and ROBINHOOD app? Or is a retirement more like 2,000 shares of VOO?
- does it make sense to begin selling down my bullion to help me get to 1,000 or 2,000 shares of VOO faster?
- If I sell 1 gold coin per year, I’ll be 75ish years old when I run out of gold coins - does this make sense as a strategy? Or does it make more sense to wait for the price of gold to go up a lot then sell it all together on a good year for price action/market depression?
I forecast some increased spending ten years from now to support my aging parents, so I am trying to be as aggressive as possible over the next 7 years to create a nest egg in case I want to take a part time job to support them more closely. Their only wish is to never see a nursing home and I want to be in a situation where I can try to make that happen. Right now, I feel like I just have a bunch of unfocused ideas with money and I could use a big brother here just to give me some ideas on different ways I might navigate my current situation. Is selling my metals and doing a full port into VOO something that I will thank myself for in the year 2035-2040?
Mega thank you for any comments or insights on my specific situation. I know I’m 39 but you wouldn’t believe how irresponsible I have been with stocks. Need some structure in my plan, absent of emotion or swing trading