Investing?

[Anonymous]

hi all,

Was wondering everyones ideas on investing in gold scraps. Buying small pieces of gold here and there since i dont have alot of money but feel i should invest into something.

[Anonymous]

Do you have any other sorts of investments or savings? I'm by no means an expert but I would personally feel more comfortable opening a brokerage account at a discount broker and buying an index ETF following the S&P 500. Listen to the recent Planet Money episode on NPR...pretty interesting. In 2008 Warren Buffet made a bet he could outperform any hedge fund manager and someone took him up on that bet for $1MM. Buffett put everything in a Vanguard index fund and has more than doubled what the hedge fund has done in 8 years, 40 some odd percent to 20 something. Unless we have another recession Buffet will be winning with the most basic of investment options. 

If you don't have any retirement setup I would do this within an IRA. How old are you if I may ask? That will play a part in what to do. 

[elim]

Gold up 15% in the past 2 months.  If you do buy gold (.999 fine gold bars and rounds), then you have to follow the markets and pick your entry points.  Now may not be a good time as i'm sure some will be taking profits and there will be a correction.  You should also research where to buy as close to spot price as possible and buy with cash (not CC due to fee's).

I buy physical Gold and Silver at overextended dips and do ok.

Silver get's a bit heavy as it's so cheap right now.

[wa3more]

what dcamp said.

I don't think i would start investing in gold if i had little money. Have a basic savings account first for emergencies so that will keep you out of debt.

Then buy something like an index fund at  a discount broker and put in a little every month, 5/10/25 dollars whatever is good for you.

Once you get a decent amount saved, maybe put 5% into gold if you want.

[Anonymous]

I just signed up for motif investing.  It's a mutal funds broker that lets you build your own fund or select from the many custom sectored ones they have made.  The minimum amount to buy a "motif" is either $250 or $300 (faq says $300, fee page says $250 so idk).  I'm going to fund it with $20 - $50 per month until it's the minimum and then buy a motif and let it ride.  The cool thing about it is if you refer a friend you each get $100 to invest.