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I WANT TO BUY SOME GOLD but I AM A LITTLE SCARED
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<p>[QUOTE="Nycmacman, post: 2488935, member: 56447"]I think the roth IRA recommendation is great, but I would think carefully about the 401k unless your company matches your contributions in some form. If they match it in any form, max it out. Free money is great. </p><p><br /></p><p>The reason I say this is because if the OP is younger (in your early to mid 20's) he is at the beginning of his career. That being said, he is most likely at the lowest tax bracket hell ever see. When he goes to retire hell be taxed at his current bracket at 59 1/2 instead. That is another reason the roth is advantageous. </p><p><br /></p><p>Santindollar is right, diversification is key. My personal allocation is as follows.</p><p><br /></p><p>Roth Ira: 20% VTSAX total stock market fund (I have a long perspective)</p><p>A account with schwabb for blue chip dividend paying stocks 15%</p><p>Gold and silver bullion 35% (I bought below the 15 mark so keep that in mind)</p><p>And 30% in cash.</p><p><br /></p><p>This breakup may be a little skewed but I am comfortable with it. </p><p><br /></p><p>If you have 8 grand and are young, don't even put it into gold at the moment, put it into a roth as stated previously. The compounding interest and dividends will yield you a much higher rate of return than gold will.[/QUOTE]</p><p><br /></p>
[QUOTE="Nycmacman, post: 2488935, member: 56447"]I think the roth IRA recommendation is great, but I would think carefully about the 401k unless your company matches your contributions in some form. If they match it in any form, max it out. Free money is great. The reason I say this is because if the OP is younger (in your early to mid 20's) he is at the beginning of his career. That being said, he is most likely at the lowest tax bracket hell ever see. When he goes to retire hell be taxed at his current bracket at 59 1/2 instead. That is another reason the roth is advantageous. Santindollar is right, diversification is key. My personal allocation is as follows. Roth Ira: 20% VTSAX total stock market fund (I have a long perspective) A account with schwabb for blue chip dividend paying stocks 15% Gold and silver bullion 35% (I bought below the 15 mark so keep that in mind) And 30% in cash. This breakup may be a little skewed but I am comfortable with it. If you have 8 grand and are young, don't even put it into gold at the moment, put it into a roth as stated previously. The compounding interest and dividends will yield you a much higher rate of return than gold will.[/QUOTE]
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I WANT TO BUY SOME GOLD but I AM A LITTLE SCARED
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