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<p>[QUOTE="Garlicus, post: 3444248, member: 73190"]Food for thought:</p><p><br /></p><p>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.</p><p><br /></p><p>Since you are working, you can open and contribute to a ROTH IRA.</p><p>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.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p><p><br /></p><p>This is for illustration purposes only. I did not make any allowance for fees (which you want to keep below 1%) in my calculations.[/QUOTE]</p><p><br /></p>
[QUOTE="Garlicus, post: 3444248, member: 73190"]Food for thought: 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.[/QUOTE]
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