A few days ago, I listed my feelings on a very enticing investment area that I'm in, and others have considered. I gave reasons why I thought it was a good idea.
Not everyone has the funds to invest hundreds of thousands or millions into Self storage Facilities. So, this next one is for everyone, pretty much. I never preach what I don't practice, so yes I do the following.
Most have heard of dollar cost averaging in the stock market. You pick a mutual fund or index fund and invest the same amount every month. When market is booming, you receive less shares for your investment. When market is tanking, your same investment buys you more shares of your same fund. You really don't care which way it goes. You're in it for the long run.
Why not do the same thing in a hard commodity? I personally like gold and silver. Now, there are ways NOT to buy these, imo. Stay completely away from collectibles or what they call Numismatic coins.You pay an EXORBITANT (and I know what that means!) fee. Stick to the bullion type coins.
In silver, depending on your discretionary funds, I suggest silver bars, ingots or junk silver coins(pre-1965 dimes-halves) You may buy bars in any size from 1-1000 oz.
I also like gold.There are 2 I like- Canadian maple leaves and American gold Eagles. I don't buy the S. African Krugerrands.
The nice things about these is the flexibility. Each comes in 1/10, 1/5, 1/4, 1/2 and 1 oz coins. If you have $100, you can buy the 1/10 and $1000 will get you 1 oz, or 10 of the smaller coins. There is a small mintage charge on top of the spot price quote daily.
I like having possession, and not just a stock cert for the gold. Too many unscrupulous companies. I want the tangible asset, so I DON'T buy the stocks in these companies.
I remember when I was paying $30 for the 1/10 oz. Now over $100. Some are predicting $3000 an oz. I don't predict. I just buy each month and am rewarded for my patience. You will be also.
There are so many of these gems. If there is enough interest in these "gem ideas", I'll try to post one every couple weeks. Let me know if you find these useful, by voting or bumping this post. Thanks. Rich still here in FL.