Sunday, July 21, 2024

Smart long-term investments?

February 12, 2011 by  
Filed under Silver Investment FAQ

From reading these “how to retire a millionaire” articles, I think I have most of the work down. I live frugally, do the little things like cook my own meals, etc. Starting now (age 18) I can easily stash $20 weekly for the long term, which will increase to $50 soon. I have all this stuff down and am probably in a good position, since I have no debt I’m trying to pay off or anything. So….what now?

Annuities? Bonds? Should I seek advice from my banker? Someone told me I should take all my money and buy silver, another person said I should invest in Europe (I have family in London so it could work) because of the sinking dollar. I’m not looking for a quick profit from the hottest stocks, I want a place where I can put aside money, know that it’s working for me (albeit slowly), and not worry about it for maybe 50 years. I guess I would benefit more from answers on how to find my way through the world of personal finance like “Here, read this book” than “stocks!!”


One Response to “Smart long-term investments?”
  1. rjkdlsjllsdj says:

    if you don’t want the “HoTTest” thing to invest… stay away from Precious Metals like Gold, Silver, etc… those are all hedges against the falling dollar and inflation, traditionally. They are hotter than a hot potato right now.

    Annuities and Bond are great tax deferred vehicles… but their rate of return is slightly higher than a bank’s saving account. At least you don’t have to worry about taxes.

    Land and real estates requires more money(the actually parcels) but great because you need a place to stay anyway.

    Stocks are good to accumulate during bad times and sell it during good times… do you consider this is a bad time?

    In conclusion, even the best of the best – diversifies. buy a lot of different things… sometimes holding cash is not a bad thing… just not 100%.

    Goto the financial websites, read Warren Buffet’s book and stay focus.

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