Hey guys,I have a few questions on investing and hopefully you can answer them. I am starting my first job and have just recently graduated from college. I am debt free, own a car (reliable) and…Continue
"I would say go for it if you have enough financial stability for your family. If you have enough money to potentially put your kids through college (if you go that route), have enough fund in case of emergencies or if something were to occur where…"
"Milk and bread just came to mind first, even if they are awful examples they still represent items that may be exchanged.
In a doomsday scenario, the market will gravitate to something as a form of exchange. Gold and silver are good candidates for…"
"Milk and bread are awful examples, as historically they're often produced by the same households, and they are usually consumed in roughly equivalent quantities. Go back and read Smith and Aristotle. Then read Graeber.
In a world in which US…"
"To explain, I have to go into a little bit of history. Gold as you correctly pointed out has been used for thousands of years as money. So why? Basically exchanges started as barter - "you give me milk and in exchange…"
"Hey, gold worked for Achilles and Aeneas. And the University of Texas.
In a doomsday situation, why would people want gold? I get that gold is a relatively stable commodity, whose price goes up when other commodities decline in price, but why not…"
"Your 401(k) and IRA will probably be mutual funds. Maybe you can find an IRA administrator that lets you choose individual stocks or other commodities, but I can't imagine getting excellent long-term returns that way, if only because…"
"My only concern about gold is that it was the run to commodity a few years ago and as people move back into other investments it may drop out on you. Silver I don't know about. The goal of investing is to diversify your holdings so…"
"Good thread. I can use some of this info myself. I can't speak to the ins and outs of the various options, but I'd suggest keeping at least a portion or your savings in the form of a gold-backed IRA or in physical gold or…"
"A mutual fund is up to you. From my understanding of how they work if you get in now there is the potential for gains as the economy improves, but if things take a down turn you could lose that money as well.
Think of mutual funds as a bunch of…"
"Thanks for the info! I am definitely not planning for SS to be around for me or anyone in the near future! (that's another discussion).
So basically start my company 401(k), Roth IRA, have a checking account, savings account…"
"I would say start a Roth IRA and put in as much as you feel you are able. Think of it this way: With a 401(k) you pay taxes when you take the money out. With a Roth IRA you pay the taxes now. Think taxes are going to go down over the next 50+…"
As usual you have very good points!. Losing ones job will adjust one's lifestyle. I will take note of your idea that insurance will cover the cost. Many policies only cover 80% of the bill. That bill can still…"
"3 months was the pre-recession rule of thumb. 9 months is the most "professionals" have dared to recommend now, that I've seen. If I had to justify the professionals' thinking, I'd consider:
*At some point after losing your…"
"Given that people have taken 1-2 years to find a new job, I have started to wonder if the right emergency fund amount needs to be far greater then 3-9 months. But 3-9 months would cover shocks such as appendicitis or car wreck.
"My experience is that a side gig should be doing something you really love. My buddy and I are slowly amassing the equipment and tools to get into doing marine salvage work on the side. I have no idea if it will actually make money or not, but…"
"My advice for someone your age is not to over think it. I was pushing 30 before I knew myself well enough to know where my talents and my weaknesses were. I was pushing my mid 30s before I had narrowed the field enough to start really creating…"
This has always been the area I've struggled with most in my life....finding out what to do for a career. I've never had a passion for one specific thing. There isn't one job that seems to "stick out" over the others. I'm kind of in every direction when it comes to choosing careers. One day I'll think welder, the next it's logistics, the next it's cyber security. At 20 years old this feeling of uncertainty is not where I want to be, so I'm really trying to figure out not just what I want to do…See More