Silver stocks and 401K info

[GarouLady]

Hey ya all,

I need a bit of advice from the more experienced silver hounds and hunters. I have a 401K through Fidelity about 25,000. It is in bonds right at the moment and I was thinking about checking into trying and put some of that into Physical silver stocks or something like that, especially while its at 24 dollars at the moment. Any hints or ideas would be a big help.

Sincerely, GarouLady

 

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[Joe777Cool]

I'm going to put this bluntly: Stocks or silver ETFs for the long term, ie retirement are bad ideas Buy physical silver for the long term. Silver ETFs are only good as a very short-term investment, and require 10K+ to make any money off them.

DISLIKE

 

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[50cent]

DISLIKE

Why?

 

[Joe777Cool]

Why?

Stocks and diversifying for the long term are the ONLY way to go. Physical silver is too volatile, and is especially risky for someone who is closer to retirement.

25 years ago the Dow was at $2000 and silver was at about $7. Fast forward to present and a $10,000 IRA investment in the Dow index is worth $74,920 and the same investment in silver is worth approx $33714. Plus you have hugh premiums for buying and selling silver, costs/risks related to holding physical silver, and as mentioned high volatility.

Having said all that, I own a big chunk of silver. Am I betting my retirement on it? HELL NO!

 

[50cent]

Stocks for the long term are partially good, if they are diversified, but relying solely on them is a bad idea; especially with her salary. Also, Inflation wise, they typically do not make serious money over time whereas, if you "invest" $10k+, buying and selling stocks/ dealing in ETFs on a daily basis, if you know what you are doing you can make alot (or loose alot if you don't).

Also, Garou lady works as a cashier so her stock options would be limited to a predesignated 401K plan. With her salary, investing in stocks for the long or even short term is not feasible. Joe, you do make some very valid points and I do agree with what you are saying.

 

[MIhunter]

I would recommend against a silver or gold IRA, too many fees. By their nature you can not hold your own IRA's assests.
You would be better off buy physical silver or gold and putting it in a safety deposit box

For all investment advise, I would recommend hiring an investment counsilor for a few hundred dollars per hr. You shouldn't need more than 1 hr of his/her time. Make sure they are willing to be a fiducairy (work for your interests, not anyone elses)

Fidelity is a good company with relatively low fees, but Vangaurd is the lowest.