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Thread: Investing in Precious Metals
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8 August 2019, 09:43 #91
I agree 100% with UW. You don't need to be daddy Warbucks in order to be in the market. In fact it's more important if you're not Mr. Warbucks.
There is a certain point after your basic needs are met that people should be putting away $50 per paycheck or whatever, and that's in addition to any 401K or whatever. $100 per month is $1,200 per year and $12,000 per ten years.
Ten years ago the DOW was at 9,170. Today it's been over 27,000, and that's with all the crazy stuff in the market.
If you put $100 a month under your mattress you only have $100 per month. Still better than nothing but there are better options.
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8 August 2019, 12:31 #92
In ~2000 when my dad was helping me set up some IRA accounts, one of the index funds was a "Science & Technology" account. Well, that seems like a slam dunk! I'll put $1K in that, we'll always have science and tech!
I think we all know how that turned out. Over the course of the next 15+ years, I'd look at the account every so often, mostly out of curiosity. After 2008, it slowly started to increase and I think a year or two ago it finally hit $1,000 again. Winning! I still make jokes about it to my dad.
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8 August 2019, 13:01 #93
Hahaha... I've got a particular stock I paid $3 a share for. It's dropped down to $1.70 ish. My wife is like that stock sucks, even though I've literally invested maybe $500 in it. A few weeks ago I dumped another $500 into it, much to her chagrin. She's like why did you do that? I'm trying to lower my cost per share babe... see... we're only down 35% now instead of 60%
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8 August 2019, 14:45 #94
Yeah, right if you think we're buying that crap, that your wife took that bait. She's probably still not done whipping your ass. I never made any money on "Penny" stocks, say $5 a share or under, and have taken too many risks to get it through my thick skull to leave it alone. Since I'm not doing much speculation trading these days, and have my money in mostly no risk little ROI funds. I'm not saying you can't knock one out of the ball park with them, but it's pretty few and far between, but I began watching them for a while, and if they hit $10 or $15 or so, I would put in a buy order. Most people I know, and are a lot more qualified than I am, say the same thing.
Last edited by FortTom; 8 August 2019 at 19:37.
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8 August 2019, 20:11 #95
Just made an order again tonight. Damn, since KY started taxing all online purchases, my silver isn't worth spot, even considering free shipping from JM Bullion. Uber lost 5 Billion last year, and their stock is way down. Not a bad buy, in my opinion, but at my age, unless you're freaking loaded rich and could care less about a 100K loss, I see it as a good buy. Again, when you get older, unless you have major holdings in companies like Coca Cola, General Foods, etc..it's not worth the risk. You don't have time to make up your losses, when you hit 61, time to just dabble a bit and see if you can hit on a few. Again, might as well go tp the casino. Your odds are about the same. U W is going to get a serious ass kicking from his wife, just wait and see. ...Lol...and still laughing.
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8 August 2019, 20:15 #96
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9 August 2019, 21:35 #97
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10 August 2019, 02:10 #98
Lol..
Back to topic..
Thanks for the info, just don’t have a clue or anyone to lean on for Info/tips... as I don’t know squat about what is what really.
I’d love to get into something, but literally don’t know where to go, trust etc..
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10 August 2019, 10:49 #99
Go to Vanguard.com and open a brokerage account. Put whatever you can afford every month into "VTI" - that is the Vanguard total stock market index. Just keep putting money in there every month, and ignore all the daily news. The worst thing you can do is panic and sell when the markets are low. This is a long-term investment. You won't see any returns for a long time, but if you keep doing it for many years you will very likely end up with a huge wad of cash.
If you want to learn more about investing, check out the Bogleheads forum. John Bogle started Vanguard and it's unique in that it's owned by the investors. Just spend a half hour reading every day and before you know it, you will know way more than your peers.
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10 August 2019, 11:57 #100
Most people make the mistake in thinking that they need to know everything. They want to, or think they need to know accounting, finance, a Phd in economics, and all kinds of other stuff before they jump in.
They do this because (in their heads) 'investing' means picking this stock over that stock... If you want to get into that game you need to know a lot of things including being somewhat of a subject matter expert. The people that do that stuff for a living (in that way) do not live in a bubble. They have enough resources to hire and retain subject matter experts or a series of them, to hire those whiz bang bean counters, get the opinions of those Yale Economists etc.
As a regular joe though, your job is to figure out which organization that does the above the best and how much their funds charge you to do what they do. It's sort of like shopping for a vehicle. Do you need an 18 wheeler to haul your stuff around or will a pickup truck do?
All of them are vehicles, all of them roll down the road, but they don't accomplish the same thing in the same way. It's the same thing with investment products. Start shopping around if you are interested.
I would liken fees to say 'gas mileage'... if you are getting 9 miles to the gallon that's crazy but in some cases that is required. But on the other hand if you can get 40mpg that's something else. If you invest you will be paying fees 95% of the time in one way or another. It might not be transparent but nobody works for free.
That all said the real trick is learning about your options. Those options change over time and change with age or personal economics. Most of the time knowledge and understanding even of your options comes from years of following things and years of learning.
If you want to know stuff it will require reading (a lot of it) but don't think you have to know absolutely everything before starting. I know the basics about engines, but I don't have the time nor tools nor inclination to tear down an engine except maybe if I did it for fun. That's why mechanics are in business. Same thing is true with investments. That said the guy that does brakes might not know much about mufflers or the electronics that run your car stereo...nobody knows everything... so with investments doing some research about who and what is important.
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19 August 2019, 09:45 #101
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23 August 2019, 21:07 #102
Good time to stock up. Little bit of a consolidation the last week or so. The stock market bubble is deflating and the bond markets are showing some serious cracks. If anyone isn't out of debt yet its a good time to do so...
The best way to survive a violent encounter is to be the one inflicting the most violence.
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23 August 2019, 23:20 #103
It's (silver) been bouncing up and down a dollar or two for the last couple of years. I'm giving it a big yawn, as far as moving. On the other hand I just got another 60 oz. in the mail a couple of days ago. Only been buying, seriously, about 5 years ago. About two or three years ago Stone turned me onto some serious buying/selling info, and I cleaned up my buying methods, and was also armed with a whole new outlook, and stopped making newbie mistakes.
Oops, I digress. But I watch those nickel and dime spikes and don't think they're indicative of a major swing anytime soon.
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Basket full of Deplorables Life Member
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27 August 2019, 08:35 #104
Spot... $18.17 at the moment. That's about $3 more per oz than when I started this thread.
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27 August 2019, 09:15 #105
Yep! Mine production is down in several of the larger producing countrys as well which will partially fuel a bull market. They have been burning through the higher grade ores over the last five years or so just to make a small profit since prices were so low. There has been a perfect storm brewing behind the scenes for silver, I beleive that when this gains traction and the masses finally catch on $2-$3 a day rises will be the norm for a while... Above ground supply has been seriously diminishing and a net deficit has been shown over the last 16 years according to the silver institute. The online dealers will be OOS overnight and the premiums will skyrocket. If you havent topped off your stack, well, you know what to do...
Last edited by Stone; 27 August 2019 at 09:22.
The best way to survive a violent encounter is to be the one inflicting the most violence.