Now is the time -- protect your money

[wolfpits]

I think investing in gold is a great option. I just dont have the money to do it. I live payday to payday and can barely afford to contribute to my retirement plan through work. Hey, at least you didn't try to peddle the idea of investing in Iraqi Dinars.

[raptorschild]

Originally posted by hour_of_darkness:
Hey douchebag, thanks for the contradictions.

I'm not saying put all your money in gold - I'm saying it's an important part of a diversified portfolio. I hold stocks/bonds/t-bills/and a money market as well.

And I was just pointing out a trend over a year.

</font><blockquote><font size="1" face="verdana, arial">quote:</font><hr /><font size="2" face="verdana, arial">Originally posted by raptorschild:
Congrats....your losing money on silver, and making some cash on gold.

With regard to money... listening to some quack with no credentials on the internet is about the most un-inteligent investment stategy i've ever heard of.

Max out your 401K...save up six months worth of living expense in a money market account, buy some real estate....some life insurance.., and the rest.....spend it. You only live once. have some fun.

If commodities were so easy to predict...everyone would be rich. There is adherant risk investing in gold. It could take a dump for all you know.

If i was going to invest in anything....corn/wheat are doing wonderfully, and will continue to do so because our government is going to try to make bio-fuel fly.

I live in a major agricultural area, and i can tell you that Corn is being produced at an alarming rate. Farmers know whats up!!!! [img]wink.gif[/img]

<font color="#FFFF00"><font size="1">[ October 01, 2007 05:35 PM: Message edited by: raptorschild ]</font></font>

<font size="2" face="verdana, arial"></font><hr /></blockquote><font size="2" face="verdana, arial">at least you can spell douchebag...your edward jones rep must be giving you spelling lessons as well as horrible investment advice..

Nobody listen to this troll, unless you hate money and want it out of your life. Stick to SxDx buddy, and don't quit ur day job.

[wolfpits]

Im not on anybody's side here, but I do know that Gold actually is one of the safest and surest ways to invest. You've heard of Fort Knox right? The US stores billions of dollars worth of Gold to help protect the value of the dollar and to prevent bankruptcy. If I'm wrong, somebody speak up.

[raptorschild]

Originally posted by wolfpits:
Im not on anybody's side here, but I do know that Gold actually is one of the safest and surest ways to invest. You've heard of Fort Knox right? The US stores billions of dollars worth of Gold to help protect the value of the dollar and to prevent bankruptcy. If I'm wrong, somebody speak up.

<font size="2" face="verdana, arial">Hey, gold might very well be a great investment...so could Microsoft 20 years ago. Everything is cyclical. Depending on when you invest, and when you need your money liquid...investing in gold "could" be an absolute disaster unless you already have plenty of money.

If you are young, you should invest in a company matching 401k, and keep it in the most agressive portfolio available....and simply ignore it until you are about 40-50 years old, then start managing it at that point til retirement. This is a very generic investment stratey that is supported by everyone that knows anything about money....everything else is either a major gamble, or doesnt reap big rewards.

All i'm saying is that its foolish to post outlandish investment advice online because only retards would listen to it. Chances are the people that have enough spare money lying around to invest in gold...arent the people that listen to "hour of darkness" for financiall advice.

"umm yeah bob, i heard from this guy online...his screen name is "hour of darkness"....he told me gold is the way to go!...lets pool our money and invest!!!!"

Are you kidding me???

There is no "safe" investment that will give great returns. If there is no risk...there is not much potential for dividends.

Pretty simple.


Also....fort knox had gold in it 30 years ago, but has been closed to the public ever since. No one really knows what is now inside Fort knox.....Many believe, there is no gold in it at all. Some believe otherwise. Lots of conspiracy theories.

Google search it. Very interesting topic actually.

[hour_of_darkness]

Interestingly enough you agree with me on most aspects of investing. The future is uncertain no one knows what will do well or when.

That's why I'm not saying put all your money in gold. What I am saying is that b/c no one can predict the future it's good to diversify and hold assets that SHOULD protect you from whatever comes.

What I'm suggesting is you look at what type of investments do well under certain economic/political conditions and hold a piece of each for the long term. Gold is proven to do well in times of inflation, which is why it's been up in the past five years. I'm well aware of the fact that it will drop. That's why I also hold stocks which do well in prosperity and bonds which do well in deflation. I also hold cash for liquidity.

I take advantage of tax benefit programs similar to the 401 K by holding 75% of it in a SEP IRA and another portfolio in a Roth IRA.

In my opinion your thinking is right but your actions are wrong. You talk about no investment being certain just like the future isn't certain. Yet you put stock in the fact that EVERYONE is doing something. That doesn't mean it will have positive results. Yeah 401 Ks are pretty conventional and pretty safe - but it also has the element of the gov't being able to control it.

I would invest in a 401 K, but I wouldn't put all my eggs in one basket. I'd diversify a bit and hold other assets in different areas and I think gold is a valuable one that is often overlooked.

I'm not offering advice, I was posting an opinion open to discussion with interested parties.

Call me a flake all day long, but my strategies have worked pretty well this far and I consider it to be pretty basic knowledge that isn't fringe by any means.

It's just not status qou stick everything in your gov't endorsed 401K plan and play no other role in managing the hard earned money you had to work to make.

Originally posted by raptorschild:
</font><blockquote><font size="1" face="verdana, arial">quote:</font><hr /><font size="2" face="verdana, arial">Originally posted by wolfpits:
Im not on anybody's side here, but I do know that Gold actually is one of the safest and surest ways to invest. You've heard of Fort Knox right? The US stores billions of dollars worth of Gold to help protect the value of the dollar and to prevent bankruptcy. If I'm wrong, somebody speak up.

<font size="2" face="verdana, arial">Hey, gold might very well be a great investment...so could Microsoft 20 years ago. Everything is cyclical. Depending on when you invest, and when you need your money liquid...investing in gold "could" be an absolute disaster unless you already have plenty of money.

If you are young, you should invest in a company matching 401k, and keep it in the most agressive portfolio available....and simply ignore it until you are about 40-50 years old, then start managing it at that point til retirement. This is a very generic investment stratey that is supported by everyone that knows anything about money....everything else is either a major gamble, or doesnt reap big rewards.

All i'm saying is that its foolish to post outlandish investment advice online because only retards would listen to it. Chances are the people that have enough spare money lying around to invest in gold...arent the people that listen to "hour of darkness" for financiall advice.

"umm yeah bob, i heard from this guy online...his screen name is "hour of darkness"....he told me gold is the way to go!...lets pool our money and invest!!!!"

Are you kidding me???

There is no "safe" investment that will give great returns. If there is no risk...there is not much potential for dividends.

Pretty simple.


Also....fort knox had gold in it 30 years ago, but has been closed to the public ever since. No one really knows what is now inside Fort knox.....Many believe, there is no gold in it at all. Some believe otherwise. Lots of conspiracy theories.

Google search it. Very interesting topic actually.</font><hr /></blockquote><font size="2" face="verdana, arial">

[raptorschild]

I agree with the above post.

The only reason i mention 401k is because, although its governed, it also is free money if there is a matching program, that unfortunatley many do not participate in.

In order to invest in something like gold, you would have to have a fair amount of money because gold would be a diversifying element to a portfolio which again implies that someone already has a base of investments.

The reason i think its kind of a waste of your time is that SxDx fans arent exactly white collar type, whith lots of money to spend. More often gear heads, and punkers rather than 40 year old CEO's....although they're out there too.

But hey, your just throwing some ideas for people to chew on...so more power to ya.

peace.

[hour_of_darkness]

I wanted to make one last post before I drop the subject. I agree whole-heartedly that people that have in 401K plans with matching contributions available to them and do not participate are fools.

Unfortunately 401Ks with matching contributions are less and less common.

Also, I'm self-employed so I don't have ANY sort of employer based retirement plan available to me. I have to fend for myself - which at first seems like it would suck but I think is a blessing in disguise.

I think it's important and easier than you'd think to diversify. I'm not loaded by any means. Gold only has to compromise a percentage of your portfolio. Even if you only buy a single ounce, if that weighs in with your target percentage of your portfolio that's just fine - and you're diversifying. I also hold a little silver simply b/c it's so much cheaper and offers the same sort of stability. You can make your entire donation one month to stocks, the next to cash, the next to bonds, and once or twice a year don't contribute to any of those and buy an ounce of gold.

Lastly, the reason there isn't much risk in the way I do it is I never allow any aspect of my portfolio to hold less than 15% of the portfolio and no more than 35%. If gold sky rockets, as soon as it holds more than 35% of the portfolio I sell some of it and filter it to another investment that is lagging behind. This "locks in" the profit so I'm not going to lose a bunch when it eventually goes back down. I do the same with the stocks, bonds and t-bills. So really, anyone with about $4,000 could start this sort of an investment startegy, maintain it and really protect what they have - no matter how large or small.

Originally posted by raptorschild:
I agree with the above post.

The only reason i mention 401k is because, although its governed, it also is free money if there is a matching program, that unfortunatley many do not participate in.

In order to invest in something like gold, you would have to have a fair amount of money because gold would be a diversifying element to a portfolio which again implies that someone already has a base of investments.

The reason i think its kind of a waste of your time is that SxDx fans arent exactly white collar type, whith lots of money to spend. More often gear heads, and punkers rather than 40 year old CEO's....although they're out there too.

But hey, your just throwing some ideas for people to chew on...so more power to ya.

peace.

<font size="2" face="verdana, arial">

[Rudeboy88]

I keep my money in a old coffee can buried in the back yard....

[hour_of_darkness]

Not to be an asshole - but on Sept 22nd when I posted and got called a kook gold was $732, silver at $13.63.

Now, 4 months later gold is $910 and silver is $16.43.

No one need reply to this - just pointing out the increase to keep track of the price before the recently decided "stimulus plan" hits. I'm sure the price of gold will be even higher after that.

[joober jones]

Abandoning the gold standard fucked us over more than words can describe.