Any ideas?

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tylercon's picture
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Joined: Dec 16 2008
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Any ideas?

I'm 23. Work online. Live in Arizona. Spent time in the Air Force. I'm intelligent and healthy (despite the smoking). I have cash in the bank - a fair amount we'll say, $43,000+ and have no idea what to do with it, I want to protect it because I worked really hard to save since I was 16. I need serious advice on what to do with my cash.

lundsta's picture
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Joined: Oct 13 2008
Posts: 89
Re: Any ideas?


 I am also 23, but I am jealous you work online? What do you do?

Before I can assist you with your is important to know if you have family, any outstanding debt or specific long term goals? There is no one answer for everyone so it is important that you have decided what your goals are.  

Best of luck




Brainless's picture
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Joined: Dec 9 2008
Posts: 150
Re: Any ideas?

I am biased to gold and expect high inflation so keep that in mind.

At this moment faith in a fiat based currency will be tested. Everything done now by the fed is causing inflation. I you have debts now i would keep them like it is, you will be able  to pay that back with cheaper dollars in the future.

Now for keeping your current worth i think only physical gold in your personal possesion is good.  

If that is not possible anything you buy now that will be easy to resell will be better than cash. It can even be bags of beans, as long as it is something that people really need and will not change drastically like for instance electronics.


jrf29's picture
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Joined: Apr 18 2008
Posts: 453
Re: Any ideas?

Hedge your bets.  The United States currency is an investment just like any other.  An investor would be a fool to have 100% exposure to a single asset.  Diversify.

In case you haven't noticed, now is a horrible time for equities (stocks).  One conservative way to invest it would be to divide it into thirds.

With one third you buy gold and silver.  Gold and silver have for eons been among the most conservative investments available.  You can buy physical precious metals and make arrangements to store them yourself (safe deposit box, etc), or you can buy precious metals in an allocated account, meaning that the specific physical bars are held somewhere, with your name on them, and you pay storage charges.  (An "unallocated" account means that there is no specific precious metal with your name on it -- the bank merely promises to deliver it upon demand.  There are no storage charges, but since the metal bars against which this promise of delivery are made are leased out to other customers, there is the possibility that in the event of a bank crisis, the bank will be unable to deliver the metals.)

The next third you can use to buy CD's which have been denominated in a basket of foreign currencies, like the Swiss frank.  The interest rates are pretty good, and the advantage is that since the money in the certificates of deposit isn't US dollars, inflation here will not damage the value of the CD (although inflation in the foreign currencies will).  Go to for a good selection.

The final third (or less) you can keep in US dollars.  The idea is that if the US dollar goes down, foreign currencies and gold might not, or if foreign currencies go down, the US dollar and gold will still be strong, or if gold goes down...well, you get the idea.

If, after doing some more research, you conclude that the future prospects for the value of the US dollar and/or foreign fiat currencies are dim, then you might want to adjust the above ratio to be a bit heavier on the gold and silver.


One final tip:  since the values of gold, silver, foreign currencies (and the US dollar, for that matter) are constantly fluctuating, avoid buying in all at once.  If you buy in over a period of time, you can avoid slapping your forehead when prices drop two months after you have already invested all of your money.

WhoKnew's picture
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Joined: Dec 11 2008
Posts: 41
Re: Any ideas?

This is really a tough one since its hard to escape the coming problems no matter where you put your money.

Some good suggestions have already been made. I will echo those and suggest you have some portion of your assets in PM's (gold silver) and hold them outside of the banking institutions.

I'd look to keep one of the government inflation protected securities (TIPS) but do your research, those have better buy in times than others, right now deflation looks to be the short term threat but it will turn to inflation soon enough.

transitionbar's picture
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Joined: Nov 7 2008
Posts: 15
Re: Any ideas? How to buy gold

Here a RichMart's document about how to buy gold


transitionbar's picture
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Joined: Nov 7 2008
Posts: 15
Re: Any ideas? How to buy gold


KKPSTEIN's picture
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Joined: Oct 20 2008
Posts: 120
Re: Any ideas?

I believe that precious metals will go up.  Put some of it in an Off-shore gold or silver bullion acct. if.  I have done that with my savings to protect it from inflation and the market.

Damnthematrix's picture
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Joined: Aug 10 2008
Posts: 3998

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