How should I invest?

[MrNick]

Hi, to make a long story short, I paid down a large debt and i'm in the process of paying off all my credit cards. I will have starting in January about 700-800 extra dollars a month and I'm looking to invest at least 500. I just joined TD Ameritrade, and i'm looking to invest in EFT's and Gold. I also requested an account of EuroPac but I'm not sure if they will deal with someone as poor as me.

I understand the dollar is dead and the American Economy is in major trouble, so i'm looking to invest in foreign stocks and if possible in gold or something away from the dollar. My first investment will be gold but should I buy the gold? or invest in the gold? something like;
http://finance.yahoo.com/q?s=GLD

My eyes have been opened by Ron Paul, P Schiff and Jim Rogers, so im going to save and invest and never go into debt again.

 

[nate895]

I'd advise holding physical silver and gold (most of the money in gold). People are losing trust in paper gold stocks, and physical possession will help you in case the government wants to confiscate it.

 

[slacker921]

Read "Crash Proof".. and unfortunately you might be coming late to the party. I'm hearing advice from others to go short on the rallies (like buying into SRS, SDS, SKF, FAZ, now while we're on a rally.. but beware.. know what you're doing.. and selling when the market drops) until mid-Spring and then get totally out of the market.

If you want to risk long term.. some of what I've been seeing others talk about and may or may not be worth checking into: FGOC, HAP, USO, FAX, HAU, GDX, ECYIF, ETFDF, PWND, DUK, ADM

I'm also investing in tools that I need - finding a lot of them 50% off or more as stores are anxious to make sales between now and the end of the year. Oh, and there are tons of people unloading stuff on craigslist for cheap now. Lots of motivated sellers there.

 

[MrNick]

What about oil? I think in the future it will go up again and now that it's low seems like a good time to buy?

 

[VIDEODROME]

I'm on limited resources trying to pay off debt accumulated while unemployed.

I'm thinking of buying some gold coins and stashing them away. I'm not sure I really have the money to put into foreign stock but I'll think about it.

 

[slacker921]

What about oil? I think in the future it will go up again and now that it's low seems like a good time to buy?

see list above.. . USO.. also look at DXO.. and there are loads of companies that will profit from higher oil. Do your own research before buying.

 

[dr. hfn]

just for fun: buy tons of gold, then bury it and booby trap it, so when the feds come around, well you know...

 

[MrNick]

see list above.. . USO.. also look at DXO.. and there are loads of companies that will profit from higher oil. Do your own research before buying.

Ok, thank you.

 

[Zippyjuan]

I'm on limited resources trying to pay off debt accumulated while unemployed.

I'm thinking of buying some gold coins and stashing them away. I'm not sure I really have the money to put into foreign stock but I'll think about it.

I'd get the debt paid off first if it was me. Then you should try to put together a fund (something accessable- not in things like stocks or gold) with enough money that you can live off of for say six to eight months in case you find yourself out of work for some reason.