If you had $1000 to invest....
Re: If you had $1000 to invest....
Since it’s my old thread, I’ll let this one go lolYerg wrote:Hey [mention]rozzieoz[/mention], this is an old thread bumped. Is it okay????
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Once you've read the dictionary, every other book is just a remix.
Re: If you had $1000 to invest....
So is it safe for me to hide my cash in my mattress???
No one will know its there but me....and my dog
My entire life can be summed up in one sentence:
"Well that didnt go as planned".
"Well that didnt go as planned".
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Re: If you had $1000 to invest....
You can. But the value of the cash in your mattress shrinks every year due to inflation. If the government changes the money (as Cambodia did in the past), then your money is worthless.Teddy1 wrote:So is it safe for me to hide my cash in my mattress???
No one will know its there but me....and my dog
That being said, I keep some cash at home for immediate use/daily spending for a few months and enough in savings for 6 months of unemployment.
I would worry about keeping gold at home.
Re: If you had $1000 to invest....
With regards to gold - could I buy jewelry instead of chunks of gold?
Once you've read the dictionary, every other book is just a remix.
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Re: If you had $1000 to invest....
Jewelry has a relative value, depending on where you buy it and where you sell it. Except IGA certified diamonds. Gold has a fixed price per Troy ounce.rozzieoz wrote:With regards to gold - could I buy jewelry instead of chunks of gold?
But it’s the thought of keeping so much valuables around. If a thief sees you wearing a small fortune in jewelry, he might be tempted to get a gang together to rob your house.
Re: If you had $1000 to invest....
Good point- thank you.newkidontheblock wrote:Jewelry has a relative value, depending on where you buy it and where you sell it. Except IGA certified diamonds. Gold has a fixed price per Troy ounce.rozzieoz wrote:With regards to gold - could I buy jewelry instead of chunks of gold?
But it’s the thought of keeping so much valuables around. If a thief sees you wearing a small fortune in jewelry, he might be tempted to get a gang together to rob your house.
Once you've read the dictionary, every other book is just a remix.
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Re: If you had $1000 to invest....
If you buy thai gold bracelets, chains etc (23k,96%) the value is goverment controlled an you can sell it any gold shop in Thailand, unlike Cambodian gold where usually you can only sell back to the shop brought from with reciptnewkidontheblock wrote: ↑Mon Aug 10, 2020 10:19 amJewelry has a relative value, depending on where you buy it and where you sell it. Except IGA certified diamonds. Gold has a fixed price per Troy ounce.rozzieoz wrote:With regards to gold - could I buy jewelry instead of chunks of gold?
But it’s the thought of keeping so much valuables around. If a thief sees you wearing a small fortune in jewelry, he might be tempted to get a gang together to rob your house.
If you buy gold bars, ( 1grm-1 kilo) or in hk, tael bars,( 1 tael = 37.79 grms) , you can sell them anywhere in the world for the current gold price
DONT buy jewellery, ( Including Diamonds!!) as an investment anywhere,
My grandfather owned a diamond jewelry store in dc form the 50's-80's where i leaned the trade,
he made a deal with couples buying their first diamond engagement rings that he would buy it back any time later for the same price they paid, if they wanted to upgrade. He was very successful!
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: If you had $1000 to invest....
There are plenty of suggestions on here, coming from people of diverse backgrounds and varied financial means.
The capital you have to invest, assuming it is $1'000 is relatively small. This provides a few feasible options. Before choosing options, you must establish how patient you are, ie how much time your investment horizon is and your skill level. Let's say
1) you have a long time horizon and you are not impatient*
2) you have a low investing skill level
To support point 1) it is worth noting that the S&P has averaged returns of some 7% or so over time, every year. That is simple maths meaning, you put money in, leave it and take a look in a few years. Based on the Rule of 72 at a return of 7%, your money doubles in 10 years.
Adding to the above and taking point 2) into the equation, it is widely recommended to regularly put small amounts of money into a broad ETF (S&P 500 or similar). By diversifying with a broad basket of stocks like such an ETF, you are wisely insulating yourself from your own ignorance about stocks (no offence), ie you have safety in numbers (there is no such thing as absolute safety btw). The emphasis here should be on "regularly". This helps you to cost average your purchases (you can look that up, important term for small investors) and it also helps you to be disciplined with your own personal budget ie pay your future self first.
Most other variants of investing have rising degrees of risk and diverse speculative characteristics. They are not for the small/novice investor. Don't touch margins, don't touch day trading etc. Nothing wrong with it if you know what you're doing so am not looking for a debate on that, I am simply addressing the novice investor with low amounts and low risk tolerance.
Hope that helps.
*"Risk comes from not knowing what you're doing" W.Buffet
The capital you have to invest, assuming it is $1'000 is relatively small. This provides a few feasible options. Before choosing options, you must establish how patient you are, ie how much time your investment horizon is and your skill level. Let's say
1) you have a long time horizon and you are not impatient*
2) you have a low investing skill level
To support point 1) it is worth noting that the S&P has averaged returns of some 7% or so over time, every year. That is simple maths meaning, you put money in, leave it and take a look in a few years. Based on the Rule of 72 at a return of 7%, your money doubles in 10 years.
Adding to the above and taking point 2) into the equation, it is widely recommended to regularly put small amounts of money into a broad ETF (S&P 500 or similar). By diversifying with a broad basket of stocks like such an ETF, you are wisely insulating yourself from your own ignorance about stocks (no offence), ie you have safety in numbers (there is no such thing as absolute safety btw). The emphasis here should be on "regularly". This helps you to cost average your purchases (you can look that up, important term for small investors) and it also helps you to be disciplined with your own personal budget ie pay your future self first.
Most other variants of investing have rising degrees of risk and diverse speculative characteristics. They are not for the small/novice investor. Don't touch margins, don't touch day trading etc. Nothing wrong with it if you know what you're doing so am not looking for a debate on that, I am simply addressing the novice investor with low amounts and low risk tolerance.
Hope that helps.
*"Risk comes from not knowing what you're doing" W.Buffet
Me, not that other crap.
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Re: If you had $1000 to invest....
Spoiler:
Re: If you had $1000 to invest....
Gold is close to its highest price ever. Nobody knows how high it will go. At some point in time, expect gold prices to drop. Gold has been a good investment, but I would not be buying it now.
## I thought I knew all the answers, but they changed all the questions. ##
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