Stop in for a cup of coffee

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I have a friend that told me 6 years ago that he was putting a large portion of his investments in Silver. I warned him against it. He was convinced to was a great investment and put 90% of his money in it and has kept it there. He insists it is a long term play.

He bought in at $16.15. Now over 6 years later, it is at $16.43. That’s a about a 1.7% return over 6 years...brilliant.

He would have done better leaving it in his checking account.
 
Mopar Tim said:
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Ddaddy said:
I have a friend that told me 6 years ago that he was putting a large portion of his investments in Silver. I warned him against it. He was convinced to was a great investment and put 90% of his money in it and has kept it there. He insists it is a long term play.

He bought in at $16.15. Now over 6 years later, it is at $16.43. That’s a about a 1.7% return over 6 years...brilliant.

He would have done better leaving it in his checking account.
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I have an opposite story to that. When I was working during college, I had an old man tell me I should invest in silver and gold, which at the time (2005/2006) were around 12 dollars per ounce per silver, and under 600 per ounce per gold. I told him he was crazy, that there was no need to do that. Then when the recession hit in the fall of 2008 thru 2009, Gold went to over 1400 an ounce and silver spiked to over 40 dollars an ounce. That old man no joke cashed out his silver and gold and bragged about making a 250,000 dollar profit. Want to know how much I lost in my public employee retirement fund? Over 60%, equaling over 8,000 dollars. Do you know how hard it is to have saved that much money in 2 years working for the state making 11 bucks an hour? I was not happy but oh well.

The thing with precious metals to me is that having SOME money in them isn't a bad idea. They are a decent hedge against inflation mainly. That said, I would not rely on them for a long term retirement type plan. But if you can get in when they are low and wait it out a few years for the next recession, which comes around about every 10-15 years, at which point historically, precious metals sky rocket briefly, then you stand to make some good gains.
 
'Bout time for my yearly post haha

How are you all doing?! I found that I have to distance myself from this site to avoid the itch/impulse buy while up in Mass.

I just hit my second year in being a Bostonian a day ago, still love it up here. Could definitely do without winter though. Currently fighting the mopar/car/gearhead itch, watched a couple videos and found myself on craigslist again :/

How is everyone though?
-- Ty
 
Expire said:
'Bout time for my yearly post haha

How are you all doing?! I found that I have to distance myself from this site to avoid the itch/impulse buy while up in Mass.

I just hit my second year in being a Bostonian a day ago, still love it up here. Could definitely do without winter though. Currently fighting the mopar/car/gearhead itch, watched a couple videos and found myself on craigslist again :/

How is everyone though?
-- Ty
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Good to hear from you.
Guess you got all our snow this week. ​
Seriously? Two years - wow. Time flies.
 
zkx14 said:
Good to hear from you.
Guess you got all our snow this week. ​
Seriously? Two years - wow. Time flies.
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Haha yeah, we got a ton of wind the past couple days. This weather is definitely blue balling me. It was hitting 65 like a week ago or somethin'.

Yeah 2 years is crazy, still at the same company. I started my own company as well, but might drop it just due to the time/money it's been taking, figure it would be better to save that cash instead
 
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