Job Discussion Forums

[naturegirl321]

I'm back in the US and many of my teacher friends here are talking about it. Seems to have taken the US teaching world by storm. I've read it, seems like common sense: buy low, sell high, though emotions take over and most people don't use common sense.

Inspired me to set up a Vanguard account though.

He's an intl teacher in Singapore and at the age of 40 had a million dollar portfolio, so I guess he's not doing so bad.

[scot47]

Your ambition is to have a million dollars in the bank ?

[Sadebugo]

[EFLeducator]

[EFLeducator]

[naturegirl321]

[EFLeducator]

[naturegirl321]

[astrayalien]

Any future social security or 401K in US dollars will be worthless in a few years - IMO.

Get some silver bullion and hide it somewhere safe. Actual physical possession, no dodgy fund. But do your own research first.

[scot47]

Banks. shares, certificates ! Nonsense. Buy gold.

[Hod]

Gold and silver are near their all-time highs. No sensible person would buy shares at an all-time high price, so why buy gold now? Also, most sensible people diversify, i.e. buy various stocks, property and even gold, etc. But to buy only silver or gold is about as risky and foolish as it�s possible to be.

And if US dollars become worthless, and the only option is to trade with silver, the only worthwhile currency left will be shotguns.

[scot47]

My great grandfather had his wealth deposited in the Austro-Hungarian Imperial Bank. Where is it now ?

Learn from peasants over the last five thousand years. Get gold and keep it safe. A shotgun or two could also be handy.

[Hod]

To indulge the silver and gold collectors then:

I looked at buying some 100g gold bars for about �4000 each as an investment last year, but the all-time high prices put me off. Another minor consideration was where to store these bars, which are each about the size of half a matchbox. I could buy a safe, of course, but I�d still have to insure my treasure against burglary. For a doomsday scenario, though, a �4000 piece of gold would be slightly unwieldy.

I read of people in 1980s Argentina using gold rings as currency, but rings aren�t generally hallmarked so the chances of getting anywhere near the real value in return are minimal. You can also buy 1g gold bars, which are currently about �50, which would be an option I suppose.

But if you�re hoarding precious metals with Armageddon in mind, other preparations would be nice. If you�ve just used one of your 1g gold bars to buy food for your family, how self-conscious would you feel walking home through the mean streets with your bags of rice?

I agree banks and governments are not to be trusted and some sort of meltdown is a real possibility, but unless you�re prepared to spend the rest of your life heavily armed in preparation with your family minutes away at all times and a well-stocked hiding place nearby, why bother?

[Sashadroogie]

Write a book called 'How to Get Rich Quick'. Make millions upon millions of quid from gullible suckers who gobble it up. Buy a small defensible island. Fortify it. Stockpile arms and provisions. Move family into bunker there. Hey presto, all doomsday problems solved.

Forget gold. No practical value at all. The same for gems.

[Teacher in Rome]

I think the point about buying gold in bars is not that you hoard it in your house, but that you can sell it to other investors - it's an alternative to shares and bonds. I don't think that wall st traders actually take the gold home - it's left in the banks...

But jewellery etc has always been used as a last-ditch resort to get out of a bind. I don't think it would be much use to anyone once Armageddon has struck! But if you needed to persuade someone to let you through a checkpoint, for example, then it could come in handy. The best gold, according to an article I read about pawnbrokers, is Asian or Indian gold. Just so you know.

Btw, I thought that gold rings were hallmarked - or at least stamped in some way.