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Thread: Focus on student loan or buy PMs

  1. #11
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    I wouldn't do either. Let your debt accumulate - "it's the American way." Go to the bank every three days and get a brick of nickels for $100 bucks and hide them. Metals are in the downtrend and many here are living proof that a 50% loss is very probable as well as possible doesn't matter where you buy or when.

    Let's hope that one day your schooling pays off, because in a socialistic country everybody else regulates your income and you're living under a glass ceiling.

  2. #12

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    Quote Originally Posted by HeavyMetalIronSteel View Post
    I wouldn't do either. Let your debt accumulate - "it's the American way." Go to the bank every three days and get a brick of nickels for $100 bucks and hide them. Metals are in the downtrend and many here are living proof that a 50% loss is very probable as well as possible doesn't matter where you buy or when.

    Let's hope that one day your schooling pays off, because in a socialistic country everybody else regulates your income and you're living under a glass ceiling.
    Get a brick of nickels every 3 days? $1,000 in nickels a month? OMG, for what? I get they're always worth the $0.05 you paid, and currently have about 3.5 cents in melt value, but you can still lose value on them via inflation. Why no silver?
    Last edited by MrFurley; 07-19-2015 at 10:46 AM.

  3. #13

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    Quote Originally Posted by MrFurley View Post
    Get a brick of nickels every 3 days? $1,000 in nickels a month? OMG, for what? I get they're always worth the $0.05 you paid, and currently have about 3.5 cents in melt value, but you can still lose value on them via inflation. Why no silver?
    maybe keep your spare change nickels and copper pennies but i wouldnt advise buying bricks of nickels until your other issues are settled, debt, emergency and some PM stack. I trade in my spare change quarters/dimes etc to get a brick of pennies (only 25$) and separate those copper/non-copper. bring the non-copper back to deposit, hold the copper. people who pay 99cents for copper rounds are throwing away about 85cents for nothing when free less than face value copper is already widely available.
    what you say and think matters, but its what you do that counts
    improve always

  4. #14

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    Quote Originally Posted by logical View Post
    Neither, you should have 3-6 months of earnings put in savings/cash first, then pay off debt.
    This is pretty sound financially speaking.

    With a turbulent job market, it makes good sense to have 3 to 6 months of expenses put aside to allow for job searching without impacting your standard of living, to pay for health care insurance to avoid the problems of uninsured medical expenses. With the bad job market, some are even recommending up to 12 months of expenses.
    Last edited by WhatsUpDoc1958; 07-19-2015 at 07:16 PM.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

    The School of Hard Knocks is where you get the lesson after you fail the test.

    Book title: "The Best Way to Rob a Bank Is to Own One"

  5. #15

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    Quote Originally Posted by JoJoBlazini View Post
    So I have lurked for a long time but wanted to ask what, do you think it would be wise to start regularly investing a small amount of money ($100-200/month) now even though I am still carrying student loan debt (3%-fixed). Or should I put that extra money towards paying the debt down first? Appreciate the advice.
    There are so many variables here that with just this tiny bit of information it is hard for anyone to actually give what would be considered well thought out advice. With that said, regardless of how these variables line up, I think that starting to invest at an early age, even if the money put towards those investments was not the best use of that money at the time, can become a very valuable education. You'll follow the market, watch as the prices move, think and strategize what to do next and etc. The education is priceless, and for that reason alone I would suggest to buy into at least a bit of silver now so that you can start becoming involved. I didn't invest in anything until my mid 30s. I surely wish I would have started much sooner.

  6. #16
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    Quote Originally Posted by SilverStocker View Post
    There are so many variables here that with just this tiny bit of information it is hard for anyone to actually give what would be considered well thought out advice. With that said, regardless of how these variables line up, I think that starting to invest at an early age, even if the money put towards those investments was not the best use of that money at the time, can become a very valuable education. You'll follow the market, watch as the prices move, think and strategize what to do next and etc. The education is priceless, and for that reason alone I would suggest to buy into at least a bit of silver now so that you can start becoming involved. I didn't invest in anything until my mid 30s. I surely wish I would have started much sooner.

    If you end up getting Alzheimer's disease you may not know where you stashed away your six months of money and may lose 60 to 80 grand. Best of luck remembering. It's not just healthcare and jobhunting.

  7. #17
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    Quote Originally Posted by HeavyMetalIronSteel View Post
    If you end up getting Alzheimer's disease you may not know where you stashed away your six months of money and may lose 60 to 80 grand. Best of luck remembering. It's not just healthcare and jobhunting.
    Thank God for Mr. 3M and his sticky post-its......
    My career would've been over years ago without them.

  8. #18
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    Quote Originally Posted by joeinnj View Post
    Thank God for Mr. 3M and his sticky post-its......
    My career would've been over years ago without them.
    That would be a good Kitco screenname: "mr. post it"

  9. #19

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    Quote Originally Posted by JoJoBlazini View Post
    So I have lurked for a long time but wanted to ask what, do you think it would be wise to start regularly investing a small amount of money ($100-200/month) now even though I am still carrying student loan debt (3%-fixed). Or should I put that extra money towards paying the debt down first? Appreciate the advice.
    If you have not yet started I would at least buy a few to at the very least be able to hold and feel ,ping it look at it and enjoy it,,,,,BUT if the bills start coming in and you
    ever find yourself looking at that purchase with regret ,wishing you had the money, then your answer will be obvious and until that time comes keep making small purchases and stack a little extra cash at the same time .Nothing wrong with doing both .See how it goes for bit and how comfortable (or not) 2 or 3 purchases make you feel.

    And until then..
    Happy Stacking
    Last edited by Mytal; 07-19-2015 at 05:51 PM.

  10. #20

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    I don't think OP gives is enough information about his situation for asking the question he is asking.

    Does the OP have a job currently? How much is he making? Does he even need an emergency fund? Maybe he just finished up school and is living with family holding down a temp job as a server that he isn't intending on making a career. We don't know his age, his goals with silver, or anything at all. Is he going to be making 75k a year in a 2-5 years? Does he plan on buying and holding silver for the next 20 years? Does he want to pay off the debt as soon as possible? Or does he not care if he pays interest on it for 20 years.

    There are too many vague threads started on these boards. A college grad should be able to realize that he needs to give more info with respect to his question, to get better answers. But you are on the right track/mindset OP.
    Last edited by AZcats; 07-19-2015 at 06:25 PM.

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