Welcome to the all new Geo Metro Forum. We hope you enjoy your visit.You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are features you can't use and images you can't see. Registration is simple, fast, and completely free. If you're already a member please log in to your account to access all of our features: Join our community! |
- Pages:
- 1
- 2
| 401k investing advice questioned; Have you checked and or questioned yours? | |
|---|---|
| Tweet Topic Started: Dec 5 2012, 10:16 AM (1,437 Views) | |
| Coche Blanco | Dec 5 2012, 03:47 PM Post #16 |
|
Troll Certified
![]()
|
Gold? Pshhhh!I keep a stockpile of diamonds. |
![]() |
|
| Horn | Dec 5 2012, 04:30 PM Post #17 |
![]()
|
Its funny how even on this website everyone talks about how great gold is. Search "gold" and in the dates put sep 2008 to Dec 2009 How many posts mentioned gold in terms of buying it as currency. Not one. It is mentioned in about 15 posts, but no one mentions anything about buying it. In Dec. 2009. Gold was around $1000 to 1100. Now search Dec 2009 - Dec 2010. There are 6 pages of posts that include the word "gold". I didn't see 1 post that mentioned you should invest in gold or predict gold would go up in price. Now search Dec 2010 - Dec 2011. There are 8 pages. Not until April 2011 was there a real thread or anyone posting the value of gold. "Anyone investing in gold or silver? by BillHoo dayle1960 Apr 4 2011, 04:52 PM Guns and gardens, baby. If you can, now is the time to start thinking about how to grow and store food. That gold bar is nice to have, but how are you going to break it down to buy a bag of flour? Also who's to say that someone will have a bag of flour to sell you. Silver and gold are nice to have but when the economy blows up, who will want your bars of gold or silver? Everyone will want your jars of corn, beans, squash, etc. Gardens, guns, and canning supplies. I bet those things will soon skyrocket in price, also. Salt was once worth it's weight in gold. Roman legions were paid a salt ration or Salerium which is where we get today's salary. When the price of oil makes it prohibitive to dig salt out of the mines, purify and transport it, we might see a rise in the value of salt. You can live without gold. Without salt, food tends to taste bland and your body's metabolic functions don't go too well. Easy to forget salt right now since we have waaaaay too much in our diets and it's pretty cheap and in almost everything. But just a few hundred years ago, it was a badly needed item by pioneers." So lets take a look at the value of gold in April 2011. according to silver-and-gold-prices.com, the value of gold in April was $1550 ish Silver was about $32 As of December 2012 the value is roughly $1700 Silver is about 32.75/ $33 ish. So if you invested in gold in april 2011 to Now. the value would have gained 9.7% over 1.5 years. But if you invested in Jan 2012 it was in the low $1700s and as of this year, you wouldn't have gained anything. Silver hasn't done much in the last year. If anything it peaked in May/June 2011 at around $50. *****What I'm trying to get to is that not many people were saying "buy gold" until it was near the top. The gold commercials didn't start really hitting the waves until 2010/2011 from what I've seen. Yes cash for gold has been around before then. Now I could be completely wrong. But I don't see it going drastically higher. I see a fear tactic used in selling gold. "IF the economy collapses then gold will sky rocket." IMO it is mostly driven on fear. Everyone hates the oil speculators, but why not the gold speculators. I am not saying gold isn't a safe bet. Some times when you diversify, you pick commodities and stocks as a safety net. Gold can be that. I am not trying to say that people that invest in gold are dumb. Hell if you would have invested in it 5/10/15 years ago you would be having a very very good time right now. I just have the theory that usually when everyone talks about how great something it is, then it is overrated or you missed the curve. Why does Joe Bob gold refinery tell you to buy gold? Its not for you to make money, it's for them. The average person/company doesn't want to tell you how to make money if it means they will lose out. Just keep some of this in mind. Again I could be completely wrong on all of this. If so it looks like I lose. Oh well, I am young. I can recover. |
![]() |
|
| Horn | Dec 5 2012, 04:33 PM Post #18 |
![]()
|
I agree with weswhat. Depending on the area, real estate can make you a ton. Wish I had some money sitting around to invest in real estate. Again the same thing applies to real estate. Once everyone goes crazy buying houses and the price skyrockets, it will sooner or later drop and people will get burned. |
![]() |
|
| Coche Blanco | Dec 5 2012, 04:33 PM Post #19 |
|
Troll Certified
![]()
|
Horn, what if I dig up gold from my yard? |
![]() |
|
| Horn | Dec 5 2012, 04:37 PM Post #20 |
![]()
|
How much did you pay to dig it up and how much gold did you get out of it? If you have to buy a backhoe to dig it out and get half an oz then it's not a good day. If you get bored and just get a shovel. 2 hours later you find a bar of gold....FUCK YEA! |
![]() |
|
| Coche Blanco | Dec 5 2012, 04:40 PM Post #21 |
|
Troll Certified
![]()
|
I have a girlfriend for a reason, I made that hoe, hoe. |
![]() |
|
| Horn | Dec 5 2012, 04:43 PM Post #22 |
![]()
|
I sprinkle diamonds on everything I eat! |
![]() |
|
| starscream5000 | Dec 5 2012, 06:01 PM Post #23 |
|
Got 70 MPG?
![]()
|
I hope she smacks you in the back of the head for that.
|
![]() |
|
| Cobb | Dec 5 2012, 06:04 PM Post #24 |
|
BANNED
![]()
|
Thanks, at least my employer is matching my 5%. I think I have like a 1.1% gain, Id never consider anything like 15 or 20% like you guys posted. Id assumed it would barely keep up with inflation. On the other side of the coin Id crap and piss all over myself if I lost 20 grand over night. I worked for a bank that had investment checkings accounts that did just that. You could go to bed with a 20k dollar balance, wake up owing the bank 7 grand. We are going to get a roth 401k and possibility of a 5% match on that too next year as a new benefit. I am considering it as well. Although I havent made any great returns the 401 k gives me a savings. I am not sure about you guys, but Ive been hooked on the gold rush and jungle gold series on tv. Its a neat idea to strike gold, however with the time and money these guys have invested they could of easily done a successful business here in the continious 48 states. At least thats my opinion. Its a nice idea to dig a hole and strike gold, however they need to get their expenses under control and do more testing to see if its worth the hunt.
|
![]() |
|
| Horn | Dec 5 2012, 06:17 PM Post #25 |
![]()
|
Cobb i really like those shows and completely agree! They spend $200k and only get $100k in gold.... |
![]() |
|
| 00Metro | Dec 5 2012, 07:16 PM Post #26 |
![]()
|
My previous employer matched 5%...then the CEO realized he wasn't getting $10mil every year. Then employer axed matching, and I axed employer. Current employer is matching some weird %. I don't care, just glad they match. Both 401k are doing 5-6 % since inception...and roughly 12+% YTD I have a mixed bag of nuts, but it is fairly aggressive due to my young age. Both 2045 and 2040 funds are doing positive gains, maybe not as much as one could hope. I know my SS isn't going to pay for crap if we (america) make it that long. |
![]() |
|
| rmcelwee | Dec 5 2012, 07:48 PM Post #27 |
![]()
|
Just a few points: 1) Cotton futures did better than gold did last year. Have you ever heard anyone at work or on a Metro forum say you should invest in cotton? 2) 1st money should go towards emergency fund, then 401K matching, then HSA max, then Roth max, then 401K max. 3) Spending less money is a good way to have more money. 4) No one you know has ever consistently beat the S&P for yearly gains. Stick with SPY or a 2x mutual fund (if you can stand the huge front end loads). 5) Real estate goes up and down just like everything else (yes, even oil and gasoline goes up and down). There are no 100% safe investments. 6) If investment councilors and stock brokers were any good they would be worth hundred of millions of $$$ and wouldn't be wasting their time charging you to take care of your $3,000. They would be on a private island having sex with a super model on a pile of cash. Trust no one. |
![]() |
|
| Cobb | Dec 6 2012, 12:27 PM Post #28 |
|
BANNED
![]()
|
Thanks for the advice. I use to watch those shows on tv and kept a fake stock account on yahoo and followed it for a year based on their advice. It made like 2 bucks over the whole year. At least I didnt loose it all.
|
![]() |
|
| Turbo Dan-O | Dec 6 2012, 01:05 PM Post #29 |
|
Obsessive Car Detailer
![]()
|
Hell yea!
|
![]() |
|
| 1 user reading this topic (1 Guest and 0 Anonymous) | |
| « Previous Topic · The Geo Metro Lounge · Next Topic » |
- Pages:
- 1
- 2


Welcome to the all new Geo Metro Forum. We hope you enjoy your visit.




I am considering it as well. Although I havent made any great returns the 401 k gives me a savings. 

1:46 PM Jul 11