| I just sold my car, so I have some money to do stuff with. - Click HERE for Original Thread |
| little_one_der |
I don't want to risk losing it, so I am thinking about just putting it into a High interest Savings account, or putting it into the Money Markets.
For the savings account, should I get one from ING? It's 3.00%, every day. Seems not to bad. A guy at work mentioned that they are not a brick and mortar bank. So they don't have a building... are they a scam or something? It's that, or I was looking at an RBC High Interest, they offer 2.500%.
I know I shouldn't expect huge returns, but I just want to hold onto the money until I buy a house, so I might as well do something with it.
What do I do?
HSBC also has a 3.30% Interest Savings Account... |
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| JoshP2002 |
| I have ING and its helped me save quite a bit of money - have you heard of that safeway debit card? It has no fees simply because theres brick and mortar building like your buddy says. Thats my understanding at least - but ING is a safe way to save, they definitely arent a scam. |
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| anschutz_93 |
Government bonds are the safest investments out there; they are covered up to 100k I think.
ING pays good interest but I don't know much about them. |
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| little_one_der |
Why do you say that Rob? I just want to learn more about this kind of thing.
(I would rather not lock it into anything where I can't touch it.)
We currently have a savings account with RBC. It's not too shabby, and we have seen some pretty decent returns, even within weeks you can see it grow. Which makes us happy every time we pull up the info.
I just thought it would be better to have another one with slightly higher interest. But I guess, the more money we have in a single savings account means it would earn more money in the long run, right?
Pro tip: Stuff like fees for debit use, and check writing don't apply to us. We don't take money out of it, ever. The only time we'll use it is for a house. |
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| baker_jeff |
TD has something called a GIA, which is 2.75%, minimum $5000 balance.
Apparently President's Choice has some good options too. |
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| ChromeDragon |
| Hookers and blow, pretty much the best investment strategy. |
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| little_one_der |
It seems to me that the RBC is a variable rate. How would I find out for sure? I looked around their site, but couldn't track that info down.
Same with the ING, TD, etc. Are all savings account variable rate? |
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| Blackout-spec |
with that ING account, can you take your money out whenever you want? i have a lot of money laying around in low interest account waiting to be spent on a house. it would be nice if i could get 75$/ mth interest. it would pay my cell bill and 1/50 of my gas bill. lol.
there interest rate is 3% right |
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| bw54867 |
| Achieva Just started banking with them. The rate is great. |
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| Blackout-spec |
^
ING-3%
Achieva-3.05%
not a big difference |
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| 30psi_on4banger |
I am with ING direct and there is NO FEE's and a bunch of little bonuses and shit every once in a while.
The rates have dropped significantly in the last 6 months, I had a 6 month GIC that just ended today that was at 4.45 percent. Now I cant renew it for anything over 3 percent.
Either way thats the market not the bank itself..
Thumbs up to ING |
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| Twigs_Dee |
quote:
Originally posted by ChromeDragon
Hookers and blow, pretty much the best investment strategy.
You doing the hooking and blowing for the extra $$ bro? ;) :lol: |
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| quick_gold |
As far as i know, all savings accounts are variable rate. They have dropped because the federal bank keeps dropping the interest rate. GICs are usually higher rate depending on the forecast the catch is that if u cash it before maturity u waive all the interest.
I have an account with ING, pretty good. Its a big Dutch bank so dont worry its not a scam.
I would consider HSBC though, but i dont see their rate staying where it is for a long time. They were advertising a 4.5% rate till yesterday but i guess its all a publicity stunt, they are trying to break into the personal banking market.
I have an accout with them somewhere else and their service is top notch, its pretty much one of the biggest if not the biggest bank in Asian, Middle East and Europe. |
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| midnite |
quote:
Originally posted by Blackout-spec
with that ING account, can you take your money out whenever you want? i have a lot of money laying around in low interest account waiting to be spent on a house. it would be nice if i could get 75$/ mth interest. it would pay my cell bill and 1/50 of my gas bill. lol.
there interest rate is 3% right
Yes, any time. It's a regular savings account. My chequing is through RBC and my savings at ING. Though, because you don't get a debit card for the account, It takes a day to transfer your funds between accounts, so your money isn't immediately accessible. I guess that's the catch. I have an RBC Line of Credit higher than my total savings though, so if I need to make a large purchase like I did with my s2000, I'll put it on my LOC and pay it off the next day after the funds have been transfered from ING to RBC.
Transferring money has no fee.
I made a nice sum in interest last year... I recommend them. |
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| stealth |
How do you setup a HSBC account? It says I need 2 million in money and investments. I am a few dollars short...
Also what is the advantage to a chequing account? Cheaper rates when it comes to service charges?
I have a Savings and Chequing account, but I keep all my cash in savings and never use chequing. I just use my savings to withdraw cash.
Would it be advisable to put a small sum in the chequings and use that to make daily purchases? |
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| little_one_der |
Stealth:
I was kinda of going through the same thing a couple years ago. I was using a savings account as my daily account and the service fees were astronomical! One month I had over a hundred dollars of service fees. So I immediately switched it to a checking account and saved all the extra fees.... |
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| quick_gold |
quote:
Originally posted by little_one_der
Stealth:
I was kinda of going through the same thing a couple years ago. I was using a savings account as my daily account and the service fees were astronomical! One month I had over a hundred dollars of service fees. So I immediately switched it to a checking account and saved all the extra fees....
HSBC is an "Active" saving account.... or something like that.. anyhow its works like a checking meaning there are no service fees and u can set it to pay bills and all that, but u cant write cheques thats it. |
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| TrevorK |
quote:
Originally posted by stealth
How do you setup a HSBC account? It says I need 2 million in money and investments. I am a few dollars short...
Also what is the advantage to a chequing account? Cheaper rates when it comes to service charges?
I have a Savings and Chequing account, but I keep all my cash in savings and never use chequing. I just use my savings to withdraw cash.
Would it be advisable to put a small sum in the chequings and use that to make daily purchases?
If you are carrying a balance in your savings, why not inquire into how much is needed to waive the service fees altogether? I think at CIBC it's only $1500 you need to keep in the bank, which I'm sure a lot of people keep as some sort of emergency fund.
If carrying a balance doesn't interest you, have you considered switching to a no-fee bank link PC? It isn't a brick and mortar place, however for most daily banking tasks it's perfectly fine.
Also, if you find yourself needing "free" cheques, just use a personal line of credit. At CIBC I get all my LOC cheques for free, and am allowed to carry a positive balance. |
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| 30psi_on4banger |
quote:
Originally posted by midnite
Yes, any time. It's a regular savings account. My chequing is through RBC and my savings at ING. Though, because you don't get a debit card for the account, It takes a day to transfer your funds between accounts, so your money isn't immediately accessible. I guess that's the catch. I have an RBC Line of Credit higher than my total savings though, so if I need to make a large purchase like I did with my s2000, I'll put it on my LOC and pay it off the next day after the funds have been transfered from ING to RBC.
Transferring money has no fee.
I made a nice sum in interest last year... I recommend them.
I got a ING direct debit card.. You should call about it |
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| dtjohnst |
Don`t waste your time putting in a bank or a bank-sponsored mutual fund or anything like that. Over the last 5 years inflation has been between 6 and 9.5%. So anything less than that and your money isn`t even keeping up with inflation. Given the rate at which governments are printing money to try and shake the recession we`re in, that`s going to be on the high side for the next couple of years and chances are that interest rates won`t be going up anytime soon.
My advice is to invest the shit with a reputable firm. I don`t know how much you have, but if you have $5k minimum, I`d be dumping it into a reputable Precious Metals mutual fund. Again, not bank sponsored. With mutual funds you have to invest in the fund manager because the composition is constantly in flux. Banks have morons running theirs.
The number 1 man (or woman) for Precious Metals in Canada right now is John Embry. Luckily, he runs a precious metals mutual fund for Sprott Asset Management of Toronto. Just so happens $5k is the minimum buy in. I know I know gold`s high, no one wants to get in now...but gold`s been climbing since the mid 70`s. People didn`t buy `cause it was too high when it hit $500 an oz because it was too high, same excuse at $750, then $850...A lot of the precious metal experts are still saying to stay in it for the long haul because it`s still going up. Not to mention that fact that silver is undervalued by more than you could imagine, same with platinum and paladium giving something to shift to if or when the gold bubble bursts like housing just did in the US.
The shift in John Embry`s fund right now is to buy juniours. Basically, he`s buying companies that aren`t currently mining, but that are getting ready to dig. He`s researched management and has faith in them. His engineers and geologists have scoped it out and think their findings have merit. So you`re basically buying gold and silver for $60-200 per oz if they pull up what they`re expecting, which also means you`re looking at $700+ profit for each oz of gold and $200+ profic for each oz of silver they pull out of the ground.
If you felt like diversifying more, I`d buy energy after that. Current daily defecit is not recoverable. Period. It`s only going to get in shorter and shorter supply while demand (from industry) continues to increase. If you have enough money to go into a third market, I`d start looking at grains and other consumables. It`s a commodities market right now. Banks still have money in stocks and bonds *shiver*.
Bonds are save and guaranteed, as are bank funds, and if you`re happy with 1.99-3% return when there`s average returns in the 30%`s for most of Sprott`s mutual funds right now, that`s your call. |
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| stealth |
quote:
Originally posted by TrevorK
If you are carrying a balance in your savings, why not inquire into how much is needed to waive the service fees altogether? I think at CIBC it's only $1500 you need to keep in the bank, which I'm sure a lot of people keep as some sort of emergency fund.
If carrying a balance doesn't interest you, have you considered switching to a no-fee bank link PC? It isn't a brick and mortar place, however for most daily banking tasks it's perfectly fine.
Also, if you find yourself needing "free" cheques, just use a personal line of credit. At CIBC I get all my LOC cheques for free, and am allowed to carry a positive balance.
Hmm, I should look into that. I like having my balance in one account. Right now I have all my cash in my savings, and none in my chequings. I will ask them if they will waive my fee.
Cheques I never use so that is not an issue for me.
I guess if I wanted to, I could cancel my chequing account, use my credit card for all expenses, and pay the final bill off at the end of the month...
little_one_der that is crazy. But for some reason I don't like the idea of splitting my money up into two accounts. I don't like the idea of always having to transfer money over to the chequing account. |
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| little_one_der |
dtjohnst:
The current market scares the shit out of me right now.
Does the value of precious metals stay strong through a looming recession? |
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| GOT BOOST |
quote:
Originally posted by little_one_der
I don't want to risk losing it, so I am thinking about just putting it into a High interest Savings account, or putting it into the Money Markets.
For the savings account, should I get one from ING? It's 3.00%, every day. Seems not to bad. A guy at work mentioned that they are not a brick and mortar bank. So they don't have a building... are they a scam or something? It's that, or I was looking at an RBC High Interest, they offer 2.500%.
I know I shouldn't expect huge returns, but I just want to hold onto the money until I buy a house, so I might as well do something with it.
What do I do?
HSBC also has a 3.30% Interest Savings Account...
It is easy to spew forth advice with out actually knowing what your goals and objectives are.
What are your plans for the money? Are you looking short term with less than 3 years before accessing it? If so, putting it in the markets could be financial suicide. Reason: Your time horizon is short and it makes it very difficult to recover in the event of a loss.
If you are looking at short term and need the money, put it in something like a high yielding GIC, savings acct, Money market, T-bill funds. You need to be cautious of your rate of return after inflation and after tax. In the long term, the interest will not be your friend. Short term you need not worry about it for a lot.
If you are looking at long term, then there are other options available to you with various degrees of volatility. You need to be aware of fees charged.
Hope this helps. |
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| TrevorK |
quote:
Originally posted by little_one_der
dtjohnst:
The current market scares the shit out of me right now.
Does the value of precious metals stay strong through a looming recession?
History has shown that during a bear market the value of gold (and other precious metals) generally goes up. |
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| quick_gold |
quote:
Originally posted by GOT BOOST
It is easy to spew forth advice with out actually knowing what your goals and objectives are.
What are your plans for the money? Are you looking short term with less than 3 years before accessing it? If so, putting it in the markets could be financial suicide. Reason: Your time horizon is short and it makes it very difficult to recover in the event of a loss.
If you are looking at short term and need the money, put it in something like a high yielding GIC, savings acct, Money market, T-bill funds. You need to be cautious of your rate of return after inflation and after tax. In the long term, the interest will not be your friend. Short term you need not worry about it for a lot.
If you are looking at long term, then there are other options available to you with various degrees of volatility. You need to be aware of fees charged.
Hope this helps.
I'd take Check Norris's advice. I mean Got Boost is actually in "the business" so i guess he has the most informed advice over here so far. |
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| GOT BOOST |
quote:
Originally posted by TrevorK
History has shown that during a bear market the value of gold (and other precious metals) generally goes up.
Agreed, however precious metals investments are extremely volatile.
If the OP is risk adverse, precious metals would be an option to steer clear from. |
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| CKXtreme |
I know some people are adverse to reading... But if would like a good book to read about this (especially if you're trying to steer clear of high-fee products like mutual funds, but don't know too much about what to do), read these (all 3 are Canadian, talking about finances in CANADA):
Stop Working by Derek Foster
The Lazy Investor by Derek Foster
Money 101 by Ellen Roseman
** The Derek Foster books are a little less "common" practices, but I thought it gave some decent investing ideas. If you're unsure of the ideas presented, simply dont use them. |
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| SilverE90 |
Canadian Tire is another place to consider if you are looking for safe short term savings. 3.35%
I am a big fan of those high interest daily savings accounts for money that is in there for the short term. All money I think I might need within 12 months or so I put in one of these accounts. You may not keep up with inflation, but that isn't the point of it. The main point is just not losing it while you are thinking about what to spend it on. :) And you don't want to risk losing any of it. I just pulled 4k out of mine last week for a/c. Bring on the hot weather! :beer: |
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| little_one_der |
Well, for term length, we are looking at 15 months to 20 months. Not earlier. We plan on moving to N.S. in 15 months from now (Aug 2009), and then buying a house within a couple months from that.
Like I mentioned before, we fucking worked hard for this money, and we do not want to lose any of it. I thought about putting it in a GIC, but can't you achieve the same return just from a High interest Savings account?
The goals are to continue to add money to this account to cover 25% of an average house (120,000). Hopefully we collect more than we need so we can actually have a real savings account, and to cover stuff that might break, need replacing, etc.
So...
Good Returns
Low/no risk
Continue to add monies to it
Not locked in
Withdraw in 15-20 months |
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| GOT BOOST |
quote:
Originally posted by little_one_der
Well, for term length, we are looking at 15 months to 20 months. Not earlier. We plan on moving to N.S. in 15 months from now (Aug 2009), and then buying a house within a couple months from that.
Like I mentioned before, we fucking worked hard for this money, and we do not want to lose any of it. I thought about putting it in a GIC, but can't you achieve the same return just from a High interest Savings account?
The goals are to continue to add money to this account to cover 25% of an average house (120,000). Hopefully we collect more than we need so we can actually have a real savings account, and to cover stuff that might break, need replacing, etc.
So...
Good Returns
Low/no risk
Continue to add monies to it
Not locked in
Withdraw in 15-20 months
So…
Short time frame, looking for principle preservation, risk aversions.
I would say look at money market fund or TBill fund yields, or high interest savings accounts. Those two items you can add to. GIC’s you can not add to them. They need to purchased as another GIC contract. :D The first two items are very liquid and easily accessible, the GIC route can be liquid for a lower rate.
Precious metals is a definite no-no.
Hope this helps. |
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| little_one_der |
Thanks Mike.
I'll be looking closer into the Money Market options, and I haven't heard of TBill fund yield, but I will look into that too. |
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| SilverE90 |
| ^ T-bills and Money Market funds don't seem to be doing as well as the high interest savings accounts at the moment. Also it doesn't seem like it would be an issue for you, but with the T-bill and Money Market funds, it takes 24hrs to get the money out (longer if you are too late in the day) where with the high interest savings accounts you get it as quick as you can click the transfer button with your mouse. |
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| GOT BOOST |
quote:
Originally posted by little_one_der
Thanks Mike.
I'll be looking closer into the Money Market options, and I haven't heard of TBill fund yield, but I will look into that too.
No worries,
Tbills are alot more secure than your money market instruments. The Yield is lower on a T bill fund. |
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| GOT BOOST |
quote:
Originally posted by SilverE90
^ T-bills and Money Market funds don't seem to be doing as well as the high interest savings accounts at the moment. Also it doesn't seem like it would be an issue for you, but with the T-bill and Money Market funds, it takes 24hrs to get the money out (longer if you are too late in the day) where with the high interest savings accounts you get it as quick as you can click the transfer button with your mouse.
Agreed, in a decreasing interest rate enviornment like what we have seen, the yeilds suffer in a lagging fashion.
The savings account rates will also suffer soon too.
Some savings accounts require 24 hr notice to pull out, others it takes 24 hrs to pull out. |
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| dtjohnst |
quote:
Originally posted by GOT BOOST
Agreed, however precious metals investments are extremely volatile.
If the OP is risk adverse, precious metals would be an option to steer clear from.
I'm not taking the bait. I will say this though:
I don't know what "low risk" means to you, or what you're willing to risk for what return. But I can't give a bank my money knowing they're making money off of it and that in the end when they give it back to me, the larger amount will contain less value than what I initially put in. Barring, of course, a massive market correction like a depression which enables the money supply to be reset and the value of money to return to normal levels....................in which case it won't matter 'cause 1/3 of us won't have a job and 1/4 of us will be declaring bankruptcy anyways.
If I don't at least risk covering inflation (which means at least a 10% return), I'd rather spend my money now. I'll hit the rippers and get my money's worth before it's devalued through an increase in the money supply. |
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| GOT BOOST |
quote:
Originally posted by dtjohnst
I'm not taking the bait. I will say this though:
I don't know what "low risk" means to you, or what you're willing to risk for what return. But I can't give a bank my money knowing they're making money off of it and that in the end when they give it back to me, the larger amount will contain less value than what I initially put in. Barring, of course, a massive market correction like a depression which enables the money supply to be reset and the value of money to return to normal levels....................in which case it won't matter 'cause 1/3 of us won't have a job and 1/4 of us will be declaring bankruptcy anyways.
If I don't at least risk covering inflation (which means at least a 10% return), I'd rather spend my money now. I'll hit the rippers and get my money's worth before it's devalued through an increase in the money supply.
I'm not setting bait.
Low risk is defined by set parameters and by asset class. These parameters can also be spread to include time frame for investment, and what the money is to be used for.
The OP can stick their money in a sock under the mattress for all I care. Then they would have to worry about inflation.
If they invest it in lets say...a GIC, then sure..they will pay taxes on the money, and also need to worry about inflation.
At the end of the day, the banks, institutions will make money off you. There is nothing you can do about it.
Precious metals is considered very volatile and high risk. It is a crazy move for a 20 month time frame and needing the money, especially if the OP is risk adverse. |
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| dtjohnst |
quote:
Originally posted by GOT BOOST
I'm not setting bait.
Low risk is defined by set parameters and by asset class. These parameters can also be spread to include time frame for investment, and what the money is to be used for.
The OP can stick their money in a sock under the mattress for all I care. Then they would have to worry about inflation.
If they invest it in lets say...a GIC, then sure..they will pay taxes on the money, and also need to worry about inflation.
At the end of the day, the banks, institutions will make money off you. There is nothing you can do about it.
Precious metals is considered very volatile and high risk. It is a crazy move for a 20 month time frame and needing the money, especially if the OP is risk adverse.
Precious metals aren't going to suddenly be worth $4/oz. There are a greater number of corrections in the precious metals market, but you aren't at risk of losing your money. It's not as volatile as the stock market, where a CEO can up and skip the country with the entirety of the company's liquid assets.
Precious metals have been considered "high risk" for 30 years by a large percentage of the investing professionals. But just because some people don't understand the market and say it's "high risk" and "volatile" doesn't make it true.
If the OP wants to do his own research and form his own opinions, as I have, I'm sure he'll come to the same conclusions I have. I remember watching Peter Schiff defend precious metals on MSNBC one night against a horde or "Gold is too volatile" sheep. They laughed at him because he said get out of the stock market and then it jumped 6%. Mr Schiff responded that his clients lost out on nothing, because their funds jumped 29%. Did that shut everyone up like it should have? No, they still laugh at him and call him an idiot.
The precious metals experts have been saying FOR YEARS that precious metals are an excellent investment vehicle and that the complaints against it are unjust. Just because the stock market gurus disagree with him and publish a lot of anti-gold papers doesn't make it correct.
I suggest the OP check out various non-Keynsian and non-Neoclassical school websites to see for himself. Neoclassical was proven horribly flawed a long time ago and Keynsians (the largest anti-Gold pool but also the most popular school of economic thought today) are constantly proving they don't really get it either. Heck, it's Keynsian's that are pushing for a tax hike to stimulate the US economy, and yet last time they were in this position and hiked taxes they directly caused the Great Depression.
Peter Schiff has a list of articles and interviews on his website: europac.net
John Embry just publishes papers on various websites so it's best to just google "John Embry" to read his papers, might learn a bit about him in the process.
And the 3rd most popular Austrian school economist is Jim Puplava and he has a wealth of knowledge on his website financialsense.com
Additionally, further readings on the subject of precious metals and economics in general can be found on mises.org which is an institute dedicated to Austrian School economics. There are a bunch of free books available there in PDF including a bunch by Murray Rothbard who's researched Republics and their economic collapse including the skyrocketing value of gold vs a standardized currency and how fiat currency is continually devalued by an increase in money supply.
The fact is that the value of Gold is unchanging. If you take dollars out of the equation, precious metals have never decreased in demand or supply by any large amount (though both have increased at the same time, essentially maintaining the same rarity as they cancel each other out). As more dollars are printed, it takes more of them to buy gold. We know that most major economies (Russia and China being the exception) are in the process of printing money, increasing their money supply, devaluing their currency and increasing infaltion. If we know that, we also know that stable commodities, which have a more-or-less fixed value, will increase in value with normal corrections along the way due to flunctuations in dollar value and market sentiment.
The proof is in the pudding. I believe people should do their own research and form their own opinions. And I think if that's done, they'll find that precious metals are no more volatile than...well...pudding.
That's the last I'm saying on the subject. If the OP wants to lose money in the end due to inflation, that's fine. If Clinton or Obama get elected and repeal the Bush tax cuts, as they plan, and print more money as the recession deepens because of their retarded moves, eventually resulting in a full blown depression, I think most people will be feeling pretty foolish that they sunk their money into banks that have had runs on them and closed down or lent them out and lost it (as happens in a depression), while the dollar value of gold will have gone up in the order of 30-45% again. And before someone makes the comment "this is Canada, not the US", you need to do some more research on economies and the last great depression. Because what they do hits us just as hard.
You might as well stand up and say we're not facing an energy crisis in the near future, because that's just as foolish. |
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| GOT BOOST |
quote:
Originally posted by dtjohnst
Precious metals aren't going to suddenly be worth $4/oz. There are a greater number of corrections in the precious metals market, but you aren't at risk of losing your money. It's not as volatile as the stock market, where a CEO can up and skip the country with the entirety of the company's liquid assets.
.........
That statement right there just confirms you have no idea what you are talking about. |
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| dtjohnst |
quote:
Originally posted by GOT BOOST
That statement right there just confirms you have no idea what you are talking about.
Whatever you say boss. Just like I called a side window a windshield, right? Yet for all your quoting in that debate, I still didn't see it.
You really need to use your words instead of these minor, petty lashing-outs. No one can discuss things if you can't explain.
That's actually exactly what people do when they're "attacking" Peter Schiff as well. |
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| AudiInProgress |
| Clash of the titans! |
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| GOT BOOST |
quote:
Originally posted by dtjohnst
Whatever you say boss. Just like I called a side window a windshield, right? Yet for all your quoting in that debate, I still didn't see it.
You really need to use your words instead of these minor, petty lashing-outs. No one can discuss things if you can't explain.
That's actually exactly what people do when they're "attacking" Peter Schiff as well.
Ooohhhhh kay.
Please provide where I am lashing out.
Prices on precious metals fluctuate. While precious metals can compliment to a portfolio over the long term, as a short term investment it is not suitable. There is too much risk.
I invite you to take a look at any Gold, Silver, etc pricing over 3 months, 6 months, 1,2,5, 10 year price and try to tell me you “are not at risk of losing your money”? To make a statement like that is in accurate.
The OP is looking at a short time horizon when they will need to access the money. Why would he purchase precious metals?
Lets look at what I had addressed here.
1) Precious metals not recommended for a short term time horizon, as they are very volatile.
2) Find out what the funds are for and if he is risk adverse. Every investment is not right for every investor and their risk tolerance.
Why are you bringing up the windshield debate? This has no relevance here. |
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| dtjohnst |
quote:
Originally posted by GOT BOOST
Ooohhhhh kay.
Please provide where I am lashing out.
Prices on precious metals fluctuate. While precious metals can compliment to a portfolio over the long term, as a short term investment it is not suitable. There is too much risk.
I invite you to take a look at any Gold, Silver, etc pricing over 3 months, 6 months, 1,2,5, 10 year price and try to tell me you “are not at risk of losing your money”? To make a statement like that is in accurate.
The OP is looking at a short time horizon when they will need to access the money. Why would he purchase precious metals?
Lets look at what I had addressed here.
1) Precious metals not recommended for a short term time horizon, as they are very volatile.
2) Find out what the funds are for and if he is risk adverse. Every investment is not right for every investor and their risk tolerance.
Why are you bringing up the windshield debate? This has no relevance here.
EDIT: I forgot I said I was done with this discussion. I apologize for getting back into it. |
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| GQsmooth |
| hey, if u want to make some good money, join a pyramid.:thumbup: |
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