There is lots of hoopla on TV about buying and selling gold. Anyone out there buying gold coins as an investment strategy? I like the tangibility and diversity of the idea.
I’ve been buying silver eagles and junk silver from apmex a lot lately. I think silver is a better play than gold.
I heard that because it is a less expensive but still a popular metal that is why it is a better investment. Does it ammoritize as fast as gold?
Silver usually trails Gold at roughly around 1/66 the cost (sometimes might be up to 1/64th the cost, or might be down to 1/68th the cost), but usually thats a rough estimate. (Or somewhere around there).
But its said… due to how much cheaper it is, you get more “bang for buck” because, when it goes up, per ratio of dollar ,youll get more in return.
“Silver will make a man rich, Gold keeps you rich.”
If I were trying to make money, ide go Silver. If you got your money, and just want to keep it safe, ide go with Gold.
Both arent bad investments though IMO, especially if your concerned about inflation.
Just my .02
Hoosier,
I was going to respond, but couldn’t have said it better myself.
Thanks
John
sorry to break this thread, but
Listen to my playlist:North Carolina original music click play all videos!!!
While were on the topic of Gold and such…
Ide be interested to hear what you guys think I should invest in until I have my 30K saved up (FdJakes goal for me).
Im looking for somethink relatively safe (dont wanna save 15K, then lose it all). IMO having your money in the BANK is NOT SAFE because your horrible susceptible to inflation. Should I just go Gold/Silver? Probably… IDK
Also, im not going to make a new thread about this, but to some people who may be interested in whats going on with me… check this out.
I graduate Nursing School in a little under 2 months. My buddy just got a job at a factory (easy easy easy work apparently) and they are hiring down in Louisville. Apparently my buddy talked to the guy who hires down there and he said he would hire me as soon as im done with nursing school.
This job pays around 55-60K a year, compared to my 40K a year from working in nursing. I might be able to save more money than I originally thought this 1st year! I might go to nursing school, and not even work at a nurse (for a while atleast). Its still pre-mature, I might not get hired on (things can change quite a bit in 2 months) but thats how its looking right now.
I do worry that Gold/Silver may be on a bubble right now and it prices might go back down within this next year, so im a little unsure about that.
Anwyay, not meaning to high-jack the thread, tips on the money situation?
Josh,
First thing to look at: Would you be happy in Louisville? You’ve talked a lot about FL or TX. Would you be ok living in KY?
Next: What about the cost of living? As you well know, 60k/yr in most places in the mid-west will give you a pretty good standard of living. In places like NYC or San Francisco, not so much…
What about benefits? This is something that you should be concerned with if you’re not already. How will they stack up from the factory vs. working in a hospital. Most places don’t have actual pension style retirement plans anymore so it’s pretty much up to you to establish and fund a Roth IRA and 401k if available, but what about medical/dental/optical type benefits? Bad things can happen even to young people so it’s best to be prepared for it rather than wondering how you’ll pay the astronomical bills. If you get married and have kids, it’s even more of a concern.
There are tons of people out there who are working in fields not even closely related to their degrees. Mine is in Nuclear Engineering, but I fly jets for a living. I used to be able to write out a bunch of heat transfer equations and talk about fission product daughters, but I have no intentions of working back in Nuclear Power again.
You may go work in a completely different field, but your degree is a great one to fall back on. You will be in high demand and can get a job in pretty much any city you want.
It’s not always about the money, but having an extra 15-20k/yr over what you were expecting would be a nice start if you think you’ll like the work.
Justin, thanks for reply. I would NOT be happy living in KY, but im stuck in either Indiana/KY for another year until I can save 30-50k to move. So location isnt really a big deal for me until a yaer or so. I was thinking instead of being miserable in Indiana making 40K a year, i could be miserable in KY making 55K a year (I have connections where I can live in both places FREE with family.) Even if I took the job, i honestly would have no intention of staying longer than a year, my heart is stuck with TX or FL. But regardless, it looks like I MAY have a chance to make more money than I orginally imagined for this 1st year.
I still dont regret going to nursing school one bit though. When I move, I can use this degree to get me a job anywhere and Ill never have to worry about being unemployed. I look at other guys my age and none of them can say that. I like where im at in my life so far.
Just wanted to share an update.
I don’t have any silver yet, but I am seriously considering buying a little (a few thousand dollars worth). The thing I like about silver is that it would be more useful than gold in a serious crisis (like our fiat currency becoming worthless). After a collapse, if you want to buy some food from a local farmer, a 90% silver dime would be much more useful than a one-once gold coin. How are you going to make change for a gold coin worth thousands of dollars?
If anyone is interested in numismatics for hobby or investments, I will be working with a local broker that has been in business for over 30 years.
Hoosier4life2005 are you getting a BSN or ASN. I would recommend that you get your BSN if your not already and after 12-24 months experience in the ER or CCU you move on and get your masters to be a nurse anestist making 120k -150k.
LPN, around $20 an hr. Im going to get ASN but thats all. Nursing is just a tool to get be money to able to invest. Nice tip though.
I remember about three years ago there was a hospital paying a $20,000 bonus on top of relocation expenses for RN’s to move to Texas. Dont know if that is still the case now. I forgot which friend was interested in that program to ask.