I think your friend has been influenced by those tv ads encouraging people to buy gold. Unless you have got a whole lot more than two grand to play with, the best thing for you to do is go for a good mutual fund. The stock market is doing well at the moment, but mutual funds have the advantage of automatic diversification, and because of this the yield tends to be stable.
Leave the gold market to those who have the means to “make a killing” in it. To succeed in that, you need waaaaay more than a couple of thousand bucks. Heck, how much gold bullion do you think you are going to buy for that? lolol
which series bonds do you have, what do they yield, and when do they mature? there are regular bank current deposit accounts that will pay you 5+%, so the least i would do is the math between the bonds and a bank account. (i would be inclined to move out of us bonds and into a bank at current rates, even after paying taxes on my bonds’ income…)
$2000 is a little small, i think, to shift entirely into gold (or silver) if that’s all the money you have, and need to depend on it. gold may continue to go sky high, or stay stuck in a lower range for a while.
i do think gold and silver appropriate for a small part of your money, but you may want to save more aggressively from your job before you do any more asset diversification.
it’s always best to keep things where their at, your first instinct is always best.
for example remember when you were in school and taking a test? you mark the answer then you go back and change it. when you get your test back you got the question wrong but you had it right before you changed the answer…
No I say leave it where it is…
its like the short line at the DMV..you think your getting a short cut to a better deal but all you do is end up standing there an hour longer.
I WOULD SAY “NO”…SINCE $2000 IS ONLY ABOUT 3+ OUNCES OF GOLD,IT IS NOT WORTH IT.IF YOU BUY GOLD,IT IS FOR THE LONG TERM AND 3+ OUNCES IS NOT EXACTLY CORNERING THE GOLD MARKET.
YOU WOULD BE WELL ADVISED TO LOOK INTO BUYING $2000 WORTH OF SILVER.IT HAS BEEN ON THE RISE FOR THE LAST FEW YEARS AND WILL STILL GO HIGHER.WITH $2000 YOU CAN BUY A COUPLE OF HUNDERED OUNCES..IT IS A LOT BETTER THAN 3 OUNCES.
CHECK THE PRICE OF SILVER TODAY,AND CHECK THE PRICE FROM LAST YEAR AT THIS TIME…YOU WILL SEE THAT ITS A GOOD INVESTMENT.
IT WILL SKYROCKET IN THE NEAR FUTURE..DONT MISS OUT.
REMEMBER ME WHEN YOU GET RICH…
SPIDER817
No that is dumb idea. Savings bonds are about as safe as it gets. I’m not sure what your getting now, but ING has a savings account offering 4.3% APY right now. That is where I keep my $$.
If you invest this money in gold the amount you make will depend on how much the gold increases in value.
It is possible for the gold to depreciate so always best to be careful..
Your probably best to just leave the cash in a high interest account to be totally safe.
It was the best investment you could have made – 5 years ago – Gold is currently at the highest it has been in 20 years. I believe that the false facades of business are about to crumble. They are only surviving on debt and lies. In a few years you will be able to buy gold for 30% of what it costs today.
The US economy and the dollar are both in much worse shape right now than most people realize. So if you can put your money in almost anything other than dollars, you’ll most likely be better off. The value of gold remains more or less stable, so as the dollar drops, the price of gold (measured in dollars) goes up. Another good bet would be an account denominated in Euros.
That said, there are no guarantees; but at the moment, if you want to preserve the value of your savings, just about anywhere is better than keeping it in dollars.
Is your buddy a licensed, trained financial planner? Kind of doubt it. Call a REAL financial planner and listen to what he or she has to say.
So for now don’t do anything!!
Buying gold is very speculative. It has big rises and big drops.
I think your friend has been influenced by those tv ads encouraging people to buy gold. Unless you have got a whole lot more than two grand to play with, the best thing for you to do is go for a good mutual fund. The stock market is doing well at the moment, but mutual funds have the advantage of automatic diversification, and because of this the yield tends to be stable.
Leave the gold market to those who have the means to “make a killing” in it. To succeed in that, you need waaaaay more than a couple of thousand bucks. Heck, how much gold bullion do you think you are going to buy for that? lolol
which series bonds do you have, what do they yield, and when do they mature? there are regular bank current deposit accounts that will pay you 5+%, so the least i would do is the math between the bonds and a bank account. (i would be inclined to move out of us bonds and into a bank at current rates, even after paying taxes on my bonds’ income…)
$2000 is a little small, i think, to shift entirely into gold (or silver) if that’s all the money you have, and need to depend on it. gold may continue to go sky high, or stay stuck in a lower range for a while.
i do think gold and silver appropriate for a small part of your money, but you may want to save more aggressively from your job before you do any more asset diversification.
it’s always best to keep things where their at, your first instinct is always best.
for example remember when you were in school and taking a test? you mark the answer then you go back and change it. when you get your test back you got the question wrong but you had it right before you changed the answer…
No I say leave it where it is…
its like the short line at the DMV..you think your getting a short cut to a better deal but all you do is end up standing there an hour longer.
utter speculation
gold is expected to reach $1000. an ounce. it is now at around$750. saving bonds interest is at about 4%. Do the math then decide.
I WOULD SAY “NO”…SINCE $2000 IS ONLY ABOUT 3+ OUNCES OF GOLD,IT IS NOT WORTH IT.IF YOU BUY GOLD,IT IS FOR THE LONG TERM AND 3+ OUNCES IS NOT EXACTLY CORNERING THE GOLD MARKET.
YOU WOULD BE WELL ADVISED TO LOOK INTO BUYING $2000 WORTH OF SILVER.IT HAS BEEN ON THE RISE FOR THE LAST FEW YEARS AND WILL STILL GO HIGHER.WITH $2000 YOU CAN BUY A COUPLE OF HUNDERED OUNCES..IT IS A LOT BETTER THAN 3 OUNCES.
CHECK THE PRICE OF SILVER TODAY,AND CHECK THE PRICE FROM LAST YEAR AT THIS TIME…YOU WILL SEE THAT ITS A GOOD INVESTMENT.
IT WILL SKYROCKET IN THE NEAR FUTURE..DONT MISS OUT.
REMEMBER ME WHEN YOU GET RICH…
SPIDER817
No that is dumb idea. Savings bonds are about as safe as it gets. I’m not sure what your getting now, but ING has a savings account offering 4.3% APY right now. That is where I keep my $$.
If you invest this money in gold the amount you make will depend on how much the gold increases in value.
It is possible for the gold to depreciate so always best to be careful..
Your probably best to just leave the cash in a high interest account to be totally safe.
keep the bonds….let them mature…….good luck
It was the best investment you could have made – 5 years ago – Gold is currently at the highest it has been in 20 years. I believe that the false facades of business are about to crumble. They are only surviving on debt and lies. In a few years you will be able to buy gold for 30% of what it costs today.
The US economy and the dollar are both in much worse shape right now than most people realize. So if you can put your money in almost anything other than dollars, you’ll most likely be better off. The value of gold remains more or less stable, so as the dollar drops, the price of gold (measured in dollars) goes up. Another good bet would be an account denominated in Euros.
That said, there are no guarantees; but at the moment, if you want to preserve the value of your savings, just about anywhere is better than keeping it in dollars.
Is your buddy a licensed, trained financial planner? Kind of doubt it. Call a REAL financial planner and listen to what he or she has to say.
So for now don’t do anything!!