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As I sit here and contemplate what to buy...

30AnvZ2830AnvZ28 Posts: 1,619
in Precious Metals
From gold, to silver, to stocks, etc... I, like everyone else, wonder what will happen in the long run. I dont have much available cash to spend(less then $10K). I rent my apt, but both my cars are paid for. I am unsure where to go. I sit here and think about being deployed on the USS Enterprise (CVN 65) back in 2003 on OIF and OEF. We hit port in Bahrain. Obviously many of us headed out to the gold souk. I wanted to buy some gold. Not jewelry... im not a jewelry guy... but a bar. Not because I was interested in investing, but because I thought it would be "cool" to own a gold bar (I was 18 at the time). I couldnt buy a pound (16oz) but they did have available troy pounds (12oz) of .999 or .9999 (I cant remember, but either way.).

Price? $3800 U.S. Dollars.

Why am I gun shy now? Seems like after that lesson I would be buying everything I could get my grubby little hands on. Guess the unexpected is what scares me. Thought some of the younger guys would like that story. At 26, its hard to believe I could have been sitting on $14K in gold for less then a $4k investment.

Comments

  • yellowkidyellowkid Posts: 5,486 ✭
    Woulda, coulda, shoulda. I'm a lot older than you and thus can tell you more stories about the real estate I should have bought, the new computer company that was recommended to me (Dell), and on and on. Don't worry about what you could have , worry about what you're going to do in the future. You're a young guy and will have plenty of opportunities. image
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Some quick thoughts:

    First, thank you for your service. image

    Second, ever heard the saying "hindsight is 20/20"? Even among us hardcore metals freaks, I don't know many people who were dumping big money into gold in 2003. Sure there were a few, but I guarantee you they were the exception.

    Third, $4,000 is a lot of money now to most of us. It would have been much more money 7 years ago. And to a 19 year old? It would have been your life's savings!

    Fourth, though I'm sure others can add to my list: Of those who actually had the money and foresight to buy gold in substantial quantities in 2003, and actually opted to do so (that's a small percentage of buyers) the chances that they would have sold some or all of that purchase before today is quite high.

    So you're kicking yourself for not being at the pinnacle of gold investors who bought low, bought big, and held until now through all sorts of economic issues, monthly highs, yearly highs, false sell-offs, etc.

    My advice: Relax. You've got $10k? Good. Pat yourself on the back for having that much. Buy a 1 oz gold eagle tomorrow (or four 1/4 oz eagles if you can find them with low premiums). Buy five 10-oz silver bars. There. Take a breather. Next paycheck, buy another 1/4 oz if you can afford it. Rinse, repeat. You'll be fine.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    The fields are ripe for harvest now for some early buyers and longterm holders. The fields will be ripe for harvest again one day for the current buyers and longterm holders.


    Take Weiss' suggestion to calm the urgency. Stack a little along and along and it turns into alot.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • 30AnvZ2830AnvZ28 Posts: 1,619
    Hahaha.

    Cant kick myself for wanting to be "cool". Its just funny looking back on it all. Im 26, and own my own business... so things are good. I own the company outright, all the bills are paid, the employees are paid, and were making money... so im definately happy with my decisions.

    Correct, hindsight is always 20/20... its just funny I sit here gunshy to buy anything dispite my "lesson".
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    put 1/2 in PM's-1/2 bank then see what grows faster.
    Avid collector of GSA's.
  • TWQGTWQG Posts: 3,145 ✭✭
    A diversified strategy is always the best plan; however, if your business is doing well you may get a better return investing the money in it.
    My eBay store
  • 30AnvZ2830AnvZ28 Posts: 1,619


    << <i>A diversified strategy is always the best plan; however, if your business is doing well you may get a better return investing the money in it. >>



    My market is a great one to be in for my area, but it is limited. Since we are a service based industry, the market is only so big, and the bigger you get, the easier it is for competition to take away from you. I feel as though $250K gross a year is about the max limit for this area in my industry. With materials and overhead accounting for around 30% of that, and payroll another 20%, that does leave for an extremly good income... but its getting to that number that will be tough.
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