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Originally posted by DYepes
Look I just purchased six ounces of gold bars and am about to invest 2000$ into the physical purchase of silver bars or coins. I am not a working $50,000+ a year professional with any kind of college degree. I am an employee at Wal-Mart with a limited income. All I did was make a balance transfer from my Chase credit card for 4500$ directly into my bank account, and will be paying a 0% interest rate until november. I got charged a 75$ transaction fee, but I personally believe that considering the potential for profits thats not a bother.
Do you guys think I did the right thing? The only other savings account I have is my paypal money market fund earning 4.52% interest. Sadly I only have 1000$ in that which I put 100$ a month into. I am twenty years old. Am I making wise financial choices or should I just spend all my money having a blast and partying like most of my friends do?
I have honestly attempted to convince them to at least save some money and perhaps consider buying some gold bullion, but they are very skeptical. Honestly should I just join the bandwagon and wast my money like they do? Please I like my friends but I do not think they are planning for their futures properly. Am I right or wrong?
posted by DYepes
If the price of gold continue to rise, I may just decide to do this. As far as investing in stocks. I have no experience whatsoever . . don't know who to sign up with to handle my accounts. I hear I need a broker to buy stocks, but I don't know what a good one to go to. [Edited by Don W]
I am feeling pretty positive on a decent return. I estimate at least 15-20% in six months. This is actually my first move ever as far as investing, but the debt is very short term, and is quite small as far as I see.