I’m thinking about starting to invest in precious metals and need some advice.
Basically, I’m 21, run a small business, own a car outright, no debts and can easily pay my current load of bills with my income, but, rather than transferring “extra” income to my saving account every month, I tend to spend it on things that aren’t really necessary.
Ultimately, I feel like I’m not working towards something long-term.
So, I thought it would be smarter to start placing some of that extra income into a long-term investment plan, which involves me buying 1oz silver coins a few times a month and over time building a nice size stockpile without a large initial investment; I don’t have the savings to go drop thousands right now on much of anything.
I've never owned precious metals, so I need some advice. Any info would help.
Does anyone have an advice?
Should I wait and see if silver drops?
Is this a good or bad idea?
And if good, where should I buy?