Your Questions About Invest In Gold Stock

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Michael asks…

I am turning 18 in a month, is it a good idea to buy a stock or invest in gold?

I am soon to be 18 and I already know what my rights are and what I can legally do but is it a good idea to buy a stock from the stock market yet? I also would like to ask that if I buy gold jewelery to make money off of in the future when the value of gold goes up, is that also a good idea?

financi4 answers:

Gold is only a good investment if you think that inflation will get out of control. Gold just sits there – it doesn’t do anything for you.

Buying a stock, of course, means that you are buying part of a company. Realize that if a company goes bankrupt, you could lose everything you invested (and that can happen even with large companies – look what happened to GM.) Most people consider it safer to buy several stocks, because it is less likely that they will all go bad. But you also should do research on the stocks before buying them. Things like the company balance sheets are often available online, but you may prefer to get professional advice if you plan to invest a lot of money.

Also, you are 18. Do you plan to buy a house, or go to college? It might be better not to tie up your money. You should probably only be investing with money that you won’t need for a long time. If you’re going to need the money next year, just get a bank CD.

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