Discussion in 'Bullion Investing' started by CoinBlazer, Mar 30, 2019.
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Those are Nice. I had plenty of jobs when I was 16.
Yeah that was a different time, but some youths today are still motivated and by the OP's name....I'd say he made a buck somewhere.
There are a few different bars that share the same back aswell as different sizes.
I'd have a few more questions
Did you score a good deal on it?
However, we should focus on how that 16-year-old spent his money. I know I made some purchases back then I regret. I'd recommend using that $75 next time to put into high earning savings account or CD, opening your first mutual fund or ETF, or if you insist on buying bullion, going for government-issued coins, not bars. Another good choce is junk silver due to the very low premiums.
However, I think you made your silver bullion purchase a good time after the significant decline in price in the last few days.
Women can sometimes make you want to smoke 'pot', but I prefer scotch.......
by the OP name? What does that mean?
A simple strategy
I have a job, I work 30+ hours a week.
I paid $87, which was alright.
Good for you.
I was looking more at the professional teenager part.
Yes Not Bad....I've paid more for the same type bar.
Coins are for collecting, not investing. PMs as a small percentage in your portfolio can be a good thing, and 5% is generally recommended, but don't ignore traditional investing.
Since you are working, you can open and contribute to a ROTH IRA.
As the law is currently written, ALL withdrawals from that account after age 59 1/2 (I believe it is) are tax free. This includes growth and dividends, not just principal.
If by age 20 (I believe you are 16) you contribute "just" $5,000, and make no other deposits, you will have $74,872.29 at age 60, assuming you get a consistent 7% dividend, and reinvest that dividend annually.
If you consistently add just $1,040 every year ($20/week) to that $5,000, and reinvest the dividends, you will have $297,026.24 at age 60.
It is possible to get dividends higher (and lower) than 7% (I am getting over 10%), so if you want to look at that, using 10%, the total value at age 60 would be $732,622.16. All from starting with $5,000 and adding $20 each week.
This is for illustration purposes only. I did not make any allowance for fees (which you want to keep below 1%) in my calculations.
But most the ones on the bay are beaten up.
[/QUOTE] I really like the design. I think they released these to keep a lid on silver prices at the time??
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