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 Replies: 56 / Views: 6,416 |
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Moderator
 United States
23522 Posts |
If you managed to create a business and sell it at 17, you are obviously sharper than your peers. Demonstrate that here by understanding this is the best time ever for you to leverage time in a sensible manner with investing. You lose a little bit of this advantage every single day, from here on out.
Much of silver's worth comes from its' use as a conductor and in many other technical applications, where its' expense is a pain in the side of everyone who uses it. Engineers and chemists are looking to synthesize new materials more cheaply to do the same job, and you can plan on them succeeding in many aspects. When that happens, as much as 60% of the market for silver will evaporate - the percentage of silver used by industry.
What happens to the price of silver then?
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Pillar of the Community
United States
898 Posts |
I would not wait to buy a mutual fund, time in the market is more important than timing the market.
Silver isn't the best way to save for retirement. Sure you can get lucky and double, triple, your money, but over 50 years in the market is more stable and you won't have to worry about protecting your silver with a safe.
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Pillar of the Community
United States
4333 Posts |
Silver is a lousy investment, if one can even call it that. It's a commodity that is in a downtrend in value. Pays no dividends. I agree with others advice regarding dividend-paying stocks such as AT&T.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
374 Posts |
It might be better than small cap biotech stocks on NASDAQ right now (LOUSY for the long term - great for day traders), but play it smart, don't put all your eggs in one basket. I have a little bit of silver for my son, but really just for "cool" factor when he gets older and can appreciate it.
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Moderator
United States
23522 Posts |
If I have to advise people on long-term stocks, I always point them at index funds which track the bigger indices like the S&P 500. It's as close to "conservative long term" as you get in the Market, because those indices are populated by the solid companies which the people smarter than us trust.
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Pillar of the Community
Canada
3049 Posts |
The principles of "couch potatoe investing" ... I'm a fan!
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Bedrock of the Community
 United States
18685 Posts |
Long term I think the stocks have it over silver. Too many variables affect the price. I'd go for a stock in the $20 to $50 range that pays a dividend for long term growth. Stay away from a stocks less than that as they are more speculative. A great stock outside that range is Disney(DIS) that has a great record
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Pillar of the Community
United States
898 Posts |
ATT is a good pick, but like SsDd said, a mutual fund that tracks an index is a good idea.
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Pillar of the Community
United States
589 Posts |
For me the hardest part of saving is not starting, but keep contributing until it became a natural habit. Mutual funds are a great idea and being aggressive is not a bad thing(your only 17).
My first Mutual funds was through Janus with a starting investment of $500 and with monthly $100 added. As my income increased so did my contribution.
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New Member
 Canada
19 Posts |
I'm actually really surprised that a lot of you guys are agreeing that silver is not a good investment long-term. A lot of the bullion dealership websites and other people I've read about online have said the complete opposite!
thank you SsuperDdave for educating me more about silver, the business I sold was a small one, made not much more than 300$ a month, but it only took 2-3 hours of work a month not bad, bumped my monthly income to just over 1k as I have a part-time job as a manager too.. I digress..
I dont want to get my parents involved with my $ just because they never really take me seriously, so I guess I have to wait until I'm 18 (In july) to start a DRIP plan, did some research and I think thats what I'm going for, gonna invest in RioCan, Rogers Sugar, and maybe a bank of some sort (mixing up dividend yield %'s) I have a few thousand stashed away as well that I can tap into, it was for emergencies but I guess my dream of buying a house in the future is just as an emergency as anything.. Read online where I'm living houses are expected to be 2+ million each by the time I'm 30!
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Moderator
United States
23522 Posts |
Quote:
I'm actually really surprised that a lot of you guys are agreeing that silver is not a good investment long-term. A lot of the bullion dealership websites and other people I've read about online have said the complete opposite!
What sort of advice would you expect from an online source whose income depends on you investing in silver?  We agree that precious metals are not a good long-term investment because we know better. You're talking to people here who have been doing things like this for as much as half a century themselves. I was your age in 1976. |
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Bedrock of the Community
United States
17884 Posts |
The stock suggestions are good, but the problem is he doesn't have that much money. Stocks are typically bought and sold in blocks of 100 shares at a time. ATT may be a good stock with a nice dividend, but it would take over $3400 to buy one block of stock and he only has $1000. And if he did buy a block all of his "eggs" are in one basket. That's why the mutual funds are good. They are a pool of investors money used to buy a diversified stock portfolio and managed by professionals to achieve growth. They let the small investor without much money inverst in a diversified range of stocks that he would not normally be able to do, and since it is a pool of funds there is enough there to get over the "it takes money to make money" problem.
One down side, you don't get to choose where the money get invested, but if you don't like the choices being made you can move your money to a different fund (There are thousands of them).
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Pillar of the Community
United States
7375 Posts |
I have only purchased silver as a hedge and to let's say, 'round-out' a portfolio. Investing is for the stock market/mutual funds.
Edited by edweather
04/27/2015 2:11 pm
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Pillar of the Community
Canada
1747 Posts |
huynhhh, being in Canada, you should before you open any investment account, make sure your $1000 is inside of your TFSA (Tax Free Savings account) having the money in this account which is free to set up at all banks and CU's (you just need to give them your SIN#) and then all capital gains from the investments are tax free.
This is one of the great perks of being Canadian.
I am sure if you talk to your bank, you can set up a meeting and discuss your goals and how to invest your money.
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Moderator
United States
23522 Posts |
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TFSA (Tax Free Savings account) having the money in this account which is free to set up at all banks and CU's (you just need to give them your SIN#) and then all capital gains from the investments are tax free. Ooooooh. Like. Honestly, with $1000 the only reason I didn't just say throw it into the bank and forget about it is the current low interest rates. Over 50 years at a consistent 5%, that $1k turns into something like $11,500. |
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Replies: 56 / Views: 6,416 |
First Page
Posted 04/25/2015 10:54 pm
