What Should I Invest My Retirement In?

I receive a monthly amount for my retirement of $1,800 that I want to purchase some form of gold or platinum each month for the coming 12 years. Any suggestions?

 

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The question might be better asked in the bullion forum, you might get better answers there.

Keep in mind we are hobbyists here - not professionals. Any advice we might give you must be taken with a grain of salt - I personally would not trust the advice of anonymous chat room members in making important financial decisions.

With that disclaimer - I think gold and precious metals are a bad investment for the long term. Historically, they have incredibly low returns, and hardly even keep up with inflation. If you are going to invest in precious metals, a diversified mutual fund would be best, or an ETF.

Don't listen to the doom and gloom nutjobs that keep predicting $2000 an ounce this year, or someother ridiculous figure. They are all smoking the wacky weed.

 

What Should I Invest My Retirement In?

EDITED

Buy generic gold, K-rands, Maples, eagles or the like close to spot.

 

First I'm recovering from a stroke and subdural hematoma a few years ago while vacationing while in Punta Rainus, Costa Rico and Thank God I have come this far. I will heed the remainder of your assistance, God Bless!

 

Green mountain coffee roasters looks like a good company (I got that from the IBD 100). Or keep it in cash and buy gold when it gets back to a sane level. Think twice about buying anything when it is close to its all time high, that just seems like a bad idea.

 

CIRELAW As you can see right off the bat, "invest" may have been the wrong term for you to use in the Coin forums.

Beyond what your already stated budget will be, perhaps you can tell us what your goals will be. If you are indeed 'investing' and interested in coin bullion and precious metals then head over to the Bullion Investing threads for different types of advice. If you're new to coins and would simply like to start collecting coins as a hobby, or get more involved in coins than you already are, then lets move away from the term 'invest' and start finding out what kind of coins or currency you find interesting, about what you may already collect, or those which you would like to learn more about. Just because you started a thread in the US Coins section doesn't mean you might not have interests in World and Ancient Coins as well. We really need to know from you what you like.

Narrowing your goals and interests down a bit more might help deflect some of the snarky replies and pull in members interested in similar areas of collecting (or investing) that you also enjoy. There are loads of books on coins and currency that will help you get started before you spend any of your income and the recommendations for reading material are plentiful here too. Please let us know...

BTW, Congratulations on your retirement!

 

Don't worry about MBT, he talks crap to everyone. I guess many people have a different opinion of gold, but I don't think you need to have a "gloom and doom" perspective to see at as a good inflation hedge. I think viewing it as an investment can be misleading, but it is fair to say it functions well as a store of value.

I am a coin collector at heart, but I cross the lines into PM holdings whenever I can. I take comfort in knowing the value of my collection has more than just numismatic value, so I favor the classic gold indians/liberty/st. gaudens type coins. If your talking purely bullion, then American Gold Eagles are probably the easiest to sell, and you can easily afford a 1 ounce coin per month. The buffalos are my personal favorite, but it all amounts to the same.

 

Don't worry about the spelling police. I understand you just fine.

If it was me, I would buy some silver, put some in a CD or money market, and some in high dividend stocks or trusts. Also stick some in your bank of Seeley. Diversify your investments.

 

Thank You all.I ont want to have 3 years of disability payments left and tryingto made ends meet. My old German Grandmother told me 'As long as You have Gold, You will never go hungry"' What really scared my is my long term disability carrier is AIG, At least my broker wasn't Berie Maydock!! Well I own 3 Ultra. Now should I buy Buffalos from the mint or spend extras fo a certified '70'S I really thank You for your kindness and will include you in my dailly prayers. Eric

 

Apmex and Silvertowne would be two companies I suggest you investigate.

With your goals, I would look to purchase gold for as close to spot as possible, and the above two dealers have worked out well for me, personally.

Hope this helps...Mike

 

Are you sure you want to buy gold at these prices? Think about it.

 

p.s. I'm not sure that I would be "investing my retirement" entirely in gold either. To the contrary, I wouldn't recommend it as a primary vehicle, but rather more of a hedge. Of silver/gold/platinum, I think there's better upside in platinum, but really all of the precious metals are pretty high right now -- I agree with Danr.

 

Sounds like you might need the money in the next 12 years. I consider bullion a high risk investment. Maybe buy some but keep it spread around in other options that might be safer. Also congrats on being able to retire early it sounds.

 

Personally I would not invest in precious metals right now, but if you do I would only make it maybe 5 or 10% of your total investment. And put the rest in CD's or something really secure. Good Luck!

 

The U.S. will be bumped out of the world currency gold will take its just like the old days.....

 

My friend it sounds like you're retired, no? If so no investing if all that you get is $1800. You need to save. Try Banco Popular they have money markets that are good.

If on the other hand your're saving FOR retirement I'd buy real property in 2011, that is when some knowledgable experts predict the turnaround. Good luck.

 

Its best to invest in canadian banks they will be around in 2010.More US banks will go under sooooon.

 

I agree with this. I love my PM but I use these as a hedge against inflation, not investment. I am 28, so nowhere near retirement, but I think of these metals as my savings. My IRA is what I consider investment, and for someone in your situation, I'd recommend CD's. I'm not up-to-date on the best rates, but take a look at online banks such as Ing Direct. They tend to offer better rates than local banks.

 

I would buy Treasuries or CDs at the bank. With the interest from those you can invest in something else, personally from what I read about you probably silver. That way you will wind-up investing say 5% (not knowing your tax situation) while protecting the principal.

I only say all this because if thirty people reply you will probably get about thirty different answers or some conbination. I don't think taking advice from a group like this is the best thing to do in the first place, but if you are actually taking advice here what I said is what I would do.

 

IMO, stay away from certified MS-70s in regards to bullion(buffalos or AGEs). Go with the 69s as they sell for about the same as raw and really aren't any different from the aluring MS-70s other than a label. At that grade level, they are really too close to tell. The premium on the 70s are artificial, and likely to lose value in the long run. I think that was what your question was? Just my opinion.