I'm 71. I had half my net worth in farm land and half in gold and siver five years ago. Recently had more in gold and silver despite land price increases. Decided a little cash diversification was not a terrible idea at my age. Putting it into CD's bring 3.8-3.9% which will not keep up with inflated prices but should help a little.

I have sat on some gold and silver that has been under water for quite a few years. I bought silver years ago from 8 to 40.

I just look at it as diversifying my portfolio. I have said for many years that if gold went up and land went down I would own more land. But land is still high. So I sit in cash.

I am not saying it is a good plan. No matter what happens, gold to 10,000 or to zero, silver to 100 or to zero, I'm covered. Already got more than I will ever need to live the lifestyle we are used to. And don't see a need for any more extravagant lifestyle. Why do I need to stretch for more?  That is the way I look at it. Not saying it is the correct way, just my way. I quit farming at 65 because I had enough, I didn't need more. When is enough enough?

I already had enough. What is happening now is just a gift. I am not going to look a gift horse in the mouth. I will diversify a little. If the stock market crashes I will probably own more common stoks (started investing in stocks around 83 or 84). If land crashes I will own more land. If gold and silver continue to rise I have more sell orders in and will own more CD's.

No one should do as I do. I've made a gazillion mistakes. Been a lifetime of fun making them. Well some of them. Some not so much.  But some how have seemed to have done alright anyway despite all the mistakes. Was only a decent farmer, nothing exceptional. I think my only saving grace as a farmer was I was willing to take some risks others were not. Amazes me every day. I have truly been blessed.

Edit: the mining stocks I sold were mostly penny stocks bought 12-15 years ago. Have I mentioned I have made a lot of mistakes????? Still have a few. IDR is one. Most went belly up. I have exposure to some big  mining stocks through a mutual fund in a simple IRA that I never look at hardly. I think it has been doing ok.

Had i not made so many mistakes I could be rubbing sholders with Bill Gates now ...*****...... Yuuck! I'd rather be here on AgTalk.