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<p>[QUOTE="SilverSurfer, post: 797159, member: 21603"]I think you should look at your expenses. Why invest in silver, a store of wealth, if you are paying a credit card payment that has a 21% interest rate? What about student loans, they have a interest rate as well, between 5% and 8%? How about a car payment, what's the interest on that? </p><p><br /></p><p>My point is, you want to store your wealth, right? But, what good is storing the wealth you have if it's being eaten away by large interest rates. Pay off your debts first, then consider investing. It's hard to make money on an investment exceeding 21%. So, why invest in something that might make you 8% or 10%, when the money could be used to pay off something charging you 21%.</p><p><br /></p><p>This is how I did it, currently debt free as of just 2 years ago, and now I can finally start investing to actually make money.....with percentage interest paid to me, instead of percent of interest of my paying someone else.[/QUOTE]</p><p><br /></p>
[QUOTE="SilverSurfer, post: 797159, member: 21603"]I think you should look at your expenses. Why invest in silver, a store of wealth, if you are paying a credit card payment that has a 21% interest rate? What about student loans, they have a interest rate as well, between 5% and 8%? How about a car payment, what's the interest on that? My point is, you want to store your wealth, right? But, what good is storing the wealth you have if it's being eaten away by large interest rates. Pay off your debts first, then consider investing. It's hard to make money on an investment exceeding 21%. So, why invest in something that might make you 8% or 10%, when the money could be used to pay off something charging you 21%. This is how I did it, currently debt free as of just 2 years ago, and now I can finally start investing to actually make money.....with percentage interest paid to me, instead of percent of interest of my paying someone else.[/QUOTE]
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