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Thread: How to safely invest ?

  1. #1

    How to safely invest ?

    I'm pondering on how to put money away (safely), for the daughter. She's 22 now, but too irresponsible to have the money now. I would like something safe that she could get when she's around 30, or 40 at the rate she is going.

    Is a gold backed IRA the solution? Can it be seized if she falls behind on her college loans?



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  3. #2
    Better make it 40 then. My son is just now getting around to understanding $ and responsibility...and he's 30.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  4. #3
    I think you should only do IRA if you want it to stay untouched all the way up until she retires.

  5. #4
    Quote Originally Posted by Todd View Post
    Better make it 40 then. My son is just now getting around to understanding $ and responsibility...and he's 30.
    Why does there have to be a zero at the end?
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  6. #5
    Quote Originally Posted by Todd View Post
    Better make it 40 then. My son is just now getting around to understanding $ and responsibility...and he's 30.
    My daughter is going to be a professional student, I think. She's almost 23, still living at home, works a part time job making around $200. per week and within six or seven hours of getting paid, the money is gone. I think 40 more realistic too !!

    I so hate banks ( .

  7. #6
    Quote Originally Posted by Dianne View Post
    I'm pondering on how to put money away (safely), for the daughter. She's 22 now, but too irresponsible to have the money now. I would like something safe that she could get when she's around 30, or 40 at the rate she is going.

    Is a gold backed IRA the solution? Can it be seized if she falls behind on her college loans?

    Well, I'm a "sure bet" type of guy, I have no doubt there are probably people here who can make you money in stocks and all that. but I don't trust that stuff, it's all beyond me. I buy precious metals, and I mean the actually physical stuff, no stocks or anything on paper.

    I don't do it to "buy low and sell high", I just buy them, every paycheck, no matter if they are up or down.

    I tried saving paper money, I chip away at it, plus inflation. Tried stocks, they tanked and I got nothing - again, I don't doubt others have made tons of money, so don't let me talk you out of stocks and then down the road the stock you looked at goes through the roof, just saying it's too much risk for me.

    I cannot easily spend my coins, can't put them in a vending machine, or buy a McDonalds with them, they have been currency all throughout recorded history and there is not a place on earth they do not hold value.

    For the most part they keep up with inflation and while they do go up and down they generally always go up overall and unlike stocks, or paper money, they are always worth at least something and Uncle Sam is none the wiser as to how many I have.

    Just my way, again, others probably know more, but I'm a simple guy and it's worked for me, got my nieces/nephews hooked on coins, they are shocked how much money they save, and it's fun for them too seeing who can get the most coins.

  8. #7
    Get on the investment vehicle used by your government for pension funds. They have guaranteed 8% return rate YoY - http://www.ronpaulforums.com/showthr...eed-return-too!

  9. #8
    How much money?

    Anything over, oh, $100,000 and I would consult a liberty minded attorney or CPA.

    Anything less, convert to PMs, slowly, over time, and hold in a safe (place).



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  11. #9
    I pretty well agree with AF . 20K or less , PM's , more than more than 40k less than 100k , few acres of land with no structures ( keeps the property tax low ) and PM's . More than 100k , talk to someone with experience of success .

  12. #10
    Quote Originally Posted by hankrichter12 View Post
    Well, I'm a "sure bet" type of guy, I have no doubt there are probably people here who can make you money in stocks and all that. but I don't trust that stuff, it's all beyond me. I buy precious metals, and I mean the actually physical stuff, no stocks or anything on paper.

    I don't do it to "buy low and sell high", I just buy them, every paycheck, no matter if they are up or down.

    I tried saving paper money, I chip away at it, plus inflation. Tried stocks, they tanked and I got nothing - again, I don't doubt others have made tons of money, so don't let me talk you out of stocks and then down the road the stock you looked at goes through the roof, just saying it's too much risk for me.

    I cannot easily spend my coins, can't put them in a vending machine, or buy a McDonalds with them, they have been currency all throughout recorded history and there is not a place on earth they do not hold value.

    For the most part they keep up with inflation and while they do go up and down they generally always go up overall and unlike stocks, or paper money, they are always worth at least something and Uncle Sam is none the wiser as to how many I have.

    Just my way, again, others probably know more, but I'm a simple guy and it's worked for me, got my nieces/nephews hooked on coins, they are shocked how much money they save, and it's fun for them too seeing who can get the most coins.
    Nice, do you have any tips on a good place to hide your gold? And can you PM me your address so I can send you a thank-you letter?
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  13. #11
    Quote Originally Posted by TheTexan View Post
    Nice, do you have any tips on a good place to hide your gold? And can you PM me your address so I can send you a thank-you letter?

    Haha, I'll get right on that.

  14. #12
    Quote Originally Posted by oyarde View Post
    I pretty well agree with AF . 20K or less , PM's , more than more than 40k less than 100k , few acres of land with no structures ( keeps the property tax low ) and PM's . More than 100k , talk to someone with experience of success .
    Wish Larry Lepard would visit from time to time, he was the guy to talk to about that.

    Or Cowlesly

  15. #13
    Quote Originally Posted by TheTexan View Post
    Nice, do you have any tips on a good place to hide your gold? And can you PM me your address so I can send you a thank-you letter?

    Well I can tell you where NOT to hide them. Seems a number of people have taken to hiding their precious metals on boats. Everyone I know who went this route ending up losing all their precious metals in freak boating accidents....

    Guess some people never learn, sad I know...
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  16. #14
    Quote Originally Posted by sam1952 View Post
    Well I can tell you where NOT to hide them. Seems a number of people have taken to hiding their precious metals on boats. Everyone I know who went this route ending up losing all their precious metals in freak boating accidents....

    Guess some people never learn, sad I know...

  17. #15
    Quote Originally Posted by Dianne View Post
    My daughter is going to be a professional student, I think. She's almost 23, still living at home, works a part time job making around $200. per week and within six or seven hours of getting paid, the money is gone. I think 40 more realistic too !!

    I so hate banks ( .
    My sister is the same way...except she's 32. She chooses to watch the telly instead of getting another p/t job. (it's pretty amazing she's kept this one-she has a history of being rude and stupid-thus getting fired. Couldn't even keep a job as an assistant in a dog kennel. ) My parents complain about her to me all the time. I told 'em to throw her out, but they just charge her a little rent. (nowhere near enough, IMHO) *sigh* Sorry I can't help ya-I don't have kids, so I can't speak from experience. ~hugs~
    Quote Originally Posted by Torchbearer
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  18. #16
    When looking into a Gold IRA - avoid the "Home Storage" IRAs. I don't think the IRS is a huge fan of this setup, despite what the salespeople want you to think... http://www.fiatflush.com/home-storage-gold-ira/

    I'm starting to pay more attention to Bitcoin lately. Though probably not something many would consider a "safe" long term investment... http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html



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  20. #17
    Quote Originally Posted by Peter4Paul2016 View Post
    When looking into a Gold IRA - avoid the "Home Storage" IRAs. I don't think the IRS is a huge fan of this setup, despite what the salespeople want you to think... http://www.fiatflush.com/home-storage-gold-ira/

    I'm starting to pay more attention to Bitcoin lately. Though probably not something many would consider a "safe" long term investment... http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html
    You cannot do a "home storage" IRA. For a gold IRA, the qualifying metals must be held by a custodian for you.
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  21. #18
    Quote Originally Posted by Zippyjuan View Post
    You cannot do a "home storage" IRA. For a gold IRA, the qualifying metals must be held by a custodian for you.
    I would have opened one a long time ago if I could have found a storage of my choice .
    Do something Danke

  22. #19
    "Safe" is relative not absolute. Diversify.
    "If anyone is not willing to work, let him not eat." - Thessalonians 3:10
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  23. #20
    This is all the worlds worst financial advice. Gold IRA? Not good.

    An IRA has contribution limits. The max she could put away would be $5500. Do that into a Roth IRA. Make it simple. 22 years old. 100% SPY ETF or 100% Vanguard S&P Index fund.

    If you are holding after tax money for her currently in cash and want to set up an account for her, set up a Joint Account where you are the primary holder. Put the money in an index fund. If you do a joint account, I am pretty sure you could change her to the primary holder at some point and she wouldn't need to pay taxes on any gains until the fund is sold. Also fund her Roth every year.

  24. #21
    Quote Originally Posted by Dianne View Post
    My daughter is going to be a professional student, I think. She's almost 23, still living at home, works a part time job making around $200. per week and within six or seven hours of getting paid, the money is gone. I think 40 more realistic too !!

    I so hate banks ( .
    I was a professional student once, was making money being a student. If she's really good at it, maybe she should just stay in school.
    If I was living at home, I wouldn't have told my parents I was a professional student, they would have kicked me out.

  25. #22
    Real estate

    The only safe thing is land in a growing area.
    No - No - No - No
    2016

  26. #23
    Only safe way to invest is to invest it with me . @Danke
    Do something Danke

  27. #24
    Invest in her future now. Educational trips, Peace corps, volunteer. Real education. Does she like art, writing, etc, give her some seed money and help her make a business plan. Maker fairs. Visit some safe 2nd world countries. Hostel in Portugal. Ireland.



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  29. #25
    Invest in safety vests.
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom



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