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 Moneyshot
pussy pounder
Registered: 06/20/08
Posts: 10
Loc: Midwest US
Last seen: 2 months, 14 days
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 Need help managing and investing money
#8545346 - 06/20/08 06:43 PM (3 months, 20 days ago) |
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i have $1000 and i have a problem spending the money i have. i want to know what is a safe, yet effective way to invest this money to plan for a retirement.
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Tri High
Stranger
Registered: 05/02/08
Posts: 441
Last seen: 4 hours, 1 minute
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Re: Need help managing and investing money [Re: Moneyshot]
#8545355 - 06/20/08 06:50 PM (3 months, 20 days ago) |
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Buy gold.
at 900/ounce. Hold onto it for three years, sell it at 5,000/ounce. Done deal.
Or silver.
Edited by Tri High (06/20/08 06:52 PM)
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FunkBuddha
Stranger
Registered: 09/29/06
Posts: 57
Last seen: 2 months, 11 hours
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Re: Need help managing and investing money [Re: Tri High]
#8545373 - 06/20/08 06:57 PM (3 months, 20 days ago) |
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gold, silver and lead with the way the economy is looking right now. most of my money has been in precious metals and t-bills since feb.
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geokills
······· º¿°·······
Registered: 05/08/01
Posts: 13,287
Loc: city of angels
Last seen: 16 hours, 1 minute
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 Re: Need help managing and investing money [Re: Moneyshot]
#8545858 - 06/20/08 10:35 PM (3 months, 19 days ago) |
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Setup an Individual Retirement Account (IRA). A Roth IRA would probably be the best option.
With the account setup and your funds deposited, put them to work in a good mutual fund or index fund.
If you are already close to retirement or are exceptionally conservative, put the money in CD's and bonds.
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┼ ··∙ long live the shroomery ∙·· ┼
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 40,121
Loc: [life]now[/life]
Last seen: 1 day, 11 hours
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Re: Need help managing and investing money [Re: Tri High]
#8551088 - 06/22/08 03:49 PM (3 months, 18 days ago) |
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Quote:
Tri High said:
Buy gold.
at 900/ounce. Hold onto it for three years, sell it at 5,000/ounce. Done deal.
Or silver.
What sort of information do you have that leads you to believe that gold is going to quadruple in the next three years?
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wiggles
One Winged Angel
Registered: 11/09/05
Posts: 2,387
Last seen: 1 month, 13 days
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Re: Need help managing and investing money [Re: Redstorm]
#8557584 - 06/24/08 08:49 AM (3 months, 16 days ago) |
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Quote:
Redstorm said:
Quote:
Tri High said:
Buy gold.
at 900/ounce. Hold onto it for three years, sell it at 5,000/ounce. Done deal.
Or silver.
What sort of information do you have that leads you to believe that gold is going to quadruple in the next three years?
They don't have to quadruple if the dollar falls 75% 
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You can turn your back on a person, but never turn your back on a drug, especially when its waving a razor sharp hunting knife in your eye.
Hunter S. Thompson
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