March 18, 2015
Financial Freedom in the form of a Sports Bar
The sports bar I’m invested in is still doing fantastically well and is improving. It’s been open for 18 months and I have gotten back all the money I invested plus made an additional 92% return. That means I’ve made 192% return on my money to date. My brother and I would like to open another sports bar, but we’ll take our time to find the right place to do it. The nice thing about having a bar in Illinois is that they allow video gaming. That’s where a large portion of our profits come from.
Let me explain Financial Freedom. There are other phrases for the same thing such as “Infinite Wealth”. The meaning is that my investments generate more than I spend each month. I can’t run out of money unless I change something. If I start spending more money each month, then I can lose my financial freedom. If the bar, combined with other investments, stops performing as it has been, I can lose my financial freedom. For now, though, I am financially free!
Gold and Silver Stored in Other Countries
I have some gold and silver stored in other countries with Bullion Vault. I needed to send some more money to them to cover the $12/month storage fees I pay. I had forgotten that I opened my BullionVault account in the name of a trust and that I could only send more funds from the same bank account from which I had originally funded the account. I closed that account before moving from North Carolina. Therefore, I just had to open a new bank account in the name of the trust. In addition, I needed to link that account to my BullionVault account in place of the old account.
The process of changing the linked bank account was a bit cumbersome, but I guess it really protects me from someone taking over my account. I had to open an account in the name of the trust. I also had to provide copies of some documents (bank statement from old account and bank statement from new account). I had to get someone from the new bank to write a letter referencing my BullionVault account and I had to write a letter referencing my BullionVault account. I did manage to get it done. Then, the final punishment for my mistake was that BullionVault charged me a $50 fee for making the bank account change. I hope I don’t need to do that again anytime soon!
I also made a mistake when I set up the new bank account that I linked to my BullionVault account. I set up a savings account because I didn’t want to have to buy checks. However, when I went to send more money to BullionVault to pay for the $50 fee, I realized that they only accept a check written from the account (a “bank” or “official” check is not acceptable) or a wire transfer. I bit the bullet and paid for a wire transfer from the account. I sent more money than I would have otherwise, because I want to have enough in the account to cover the fees for many years to come. I don’t want to have to pay for another wire transfer in a year to two.
I am still investing in gold on a monthly basis via my Hard Assets Alliance MetalStream account. In fact, because the price of gold and silver is so low lately, I increased my monthly investment a bit and I switched to buy silver. The silver/gold ratio favors a faster rise in silver than in gold and I haven’t bought any silver in a while. I feel like we’re near a low and, once the price starts going up, it will be too late to capitalize on the situation.
Gold and Silver in my Hands
I also bought another load of gold and silver to keep with me. This is the most I have bought at one time. I feel like I need more insurance and can afford it since the sports bar has been doing so well and I got a raise in my day job! I’m also spending more money on organic food these days.
Real Estate Outside the U.S.
I still want to own some real estate outside the U.S. Attending the conferences in Medellin will help me to start evaluating my options. Ideally, I would like to own some working farmland. Jim Rogers says that agriculture is where it’s at now.