2006-09-01 01:03:56 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
While investing your money is a wise choice. It is not wise to limit all you investments to one type. You have to branch out. Make your money work for you. While gold right now is at a all time high. You might want to think about IRAs and stocks. Being active in your investments helps as well. You can always put more into one thing while taking money from another.
2006-09-01 01:12:29 · answer #1 · answered by SRIGWilliams 1 · 1⤊ 0⤋
All investments have to be judged in part by your financial goals. Generally gold is used as hedge against inflation. In times of inflation and political unrest, gold does pretty well, but overall for a growth oriented long term investment you'll be better off in some quality stock mutual funds. For more info, check this site:
http://www.morningstar.com
2006-09-01 08:45:10 · answer #2 · answered by Adios 5 · 1⤊ 0⤋
I think you have to have some inside information to make money in gold. You have to pay some hefty fees to buy and sell. It is usually 3% to buy and another 3% to sell. Gold has to go up 6% for you to break even.
In order to make money, you have to know when to buy and when to sell. About 25 years ago, gold was over $800 per ounce. Accounting just for inflation alone, gold would have to be at $2,400 per ounce for an investor to break even in that time, not factoring in buying and selling commissions.
I think a safer, long-term investment would be a stock mutual fund, specializing in growth. Let the experts do the stock picking. In some cases the fees are less than one per cent.
I see gold as a hedge, not necessarily an investment. If you know, in advance (somehow) that the stock market is going to take a dip, buy gold to avoid a loss, then buy stocks back when they hit their lows. How to do that? Ask Warren Buffett.
2006-09-01 08:19:31 · answer #3 · answered by regerugged 7 · 0⤊ 1⤋
It is not either/or. IAU is a stock that owns physical gold & moves with it. Trades on NYSE. Would just pay commission & internal fund fee which is <1% a year. Should diversify as just having gold is risky. Gold should only be 5-10% of your portfolio. The idea expressed above that buying gold is better or simpler than owning stocks is ridiculous. Just part of the plan.
2006-09-01 09:38:19 · answer #4 · answered by vegas_iwish 5 · 0⤊ 0⤋
Buying gold is a speculative investment and is for the savvy investor with a high propensity for risk. What about diversification as well as buy low sell high? Be prepared to win big, but also be prepared to lose big because both are possibilities. Be rational and objective about your investment. Can you stand to lose it all in a matter of seconds? If not, then this is not for you.
Also, would you try to diagnose your own health issues, no, you would see a professional. The same should hold true with your financial health. See a professional financial advisor, someone who is a CFP (certified financial planner).
2006-09-01 08:48:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You need to do some research before invest, diversify your porfolio because gold direct relation with inflation meaning when inflation expectation goes up, gold will be go up. and Think gold as a single investment, it's a little bit risky if you put everything in gold, Enron ring a bell to you or lucent, nortel,cmgi?
you need to learn how to invest the right way. Nothing wrong with gold or stock just know how to trade the right way will make you money
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 73,000.00 and 30000.00 in taxble account. by follow simple rule
2006-09-01 12:38:06 · answer #6 · answered by Hoa N 6 · 0⤊ 0⤋
I like the real GOLD nuggets.
As most gold is mined as very fine dust and tiny nuggets, the larger (over 1oz) nuggets are very rare! Actually they are as rare as large diamonds!
I would suggest you look into large nuggets!
To see the 'live' spot NY gold price and some museum size gold nuggets I suggest you visit a great site I found a few months ago. I purchase a few nuggets from them just about a month ago, and not only are they beautiful to look at but in just the last few weeks they have really moved up in value!
I'm actually saving to purchase others!
The site is: http://www.california-gold-rush-miner.us
Their museum nuggets are at:
http://www.california-gold-rush-miner.us/australia-gold-nuggets.htm
The most expensive gold is called Crystalline gold. Some great photos of it can be viewed at:
http://www.california-gold-rush-miner.us/crystalline-gold-miner.htm
http://california-gold-nuggets-miner.blogspot.com
http://www.brokerforyou.com/brokerforyou/
http://www.websitetrafficbuilders.com/adsense.htm
2006-09-01 12:07:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Buying gold is better. It is more concrete and yoiu do not hav eto pay as close supervision as you would in stocks. buy a stock and it can go really high but it can also go really low. leaving you with a negative balance and you wouldn't be able to pay someone to take it
2006-09-01 08:07:41 · answer #8 · answered by zsleonard1997 2 · 0⤊ 2⤋
Yes it is but it dose'nt grow as fast as a stock read some investing tips on this site
2006-09-01 08:08:22 · answer #9 · answered by Anonymous · 0⤊ 2⤋