Your Questions About Invest In Gold Mines

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Chris asks…

I need some advice about investing in a gold fund.?

I have about $10,000 that I’m thinking of investing in the market. I currently have about $6,000 in stocks of Citibank and Bank of America but I’m thinking of a new less volatile long term strategy. While looking around at some funds I noticed that a fund investing in gold, mining, etc had perhaps one of the best 1,3,and 10 year returns. I know that the price of gold has steadily been rising for years but who knows if it could be the next “bubble.” I’d like to get some advice from people about the ups and downs of this option and other opinions about options for me to invest. By the way I’m 22 if that matters.

financi4 answers:

Our idea of “saving” money was hoarding just enough to buy that can’t-live-without toy in between birthdays and Christmas. As a child, the future didn’t go beyond the next holiday or beginning of the next school year. The future I was saving for was never more than a couple of months away.

Now, pay close attention. If just one of these handfuls of coins had been properly invested, it would have grown to over $33,000 when I retire in a few years.

So what is “properly invested”? Well, it certainly isn’t a savings account. It isn’t savings bonds or T-Bills or bank certificates of deposit. Yes, it does have something to do with the stock market. You’ll learn everything you need to know about simple stock market investing in another chapter.

But isn’t investing risky? Sure it can be. Can investing be safe, secure and a sure thing? It all depends on how you go about it. There are a few smart ways to invest, and many, many ways that guarantee that you will lose a lot of money.

A smart investor chooses a method of investing, follows through on the investment plan, and then over the years watches it happen.

A smart investor understands that the ultimate risk actually is not investing. A smart investor understands that investing is not a luxury, it is a necessity.

We all should have investment goals. We all want to be rich. The idea of building wealth may be appealing, but sounds unrealistic for the average family that is struggling just to pay the bills.

Even if we can accept the possibility that some magic investment tricks may be available to us, how do we save money when there is no extra money to save? And even if we save some each month, the small amount of interest a bank pays won’t turn us into millionaires. But smart investing, not saving, is the key to building wealth.

Few of us understand the fundamentals of successful investing. We’ve learned that financial security comes from putting money in an account in our local bank or credit union. This is all right, of course, but limits our financial future to saving a few dollars. But through properly selected safe investments, your dream of wealth will come true.

Ken asks…

Is now a good time to invest in real estate?

My great uncle passed away and I will be comming into money. (He owned the tropico gold mine in lancaster CA) Should I invest in Land, or Real Estate? I was looking at a condo in Florida that looked like it would be a good investment.

financi4 answers:

NO!!!!

Thomas asks…

1-2 year investment in Gold ETF…still a good idea?

I am considering investing in GLD or GDX. These are both ETF’s that invest 100% in gold mining and exploration.

Is this still a good idea for a 1-2 year investment?

financi4 answers:

Gold will always be a great hedge against inflation. As long as the dollar continues to weaken gold should go up.

However you can never tell for certain what will happen. That is why I don’t like long term trading myself.

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