I have $350 to invest, where to put it?

[nate895]

Since that won't be able to buy a half an ounce of gold, let alone any amount of any real value, I was looking to put it into silver. I am 16, so I am looking for long-term investments, since college is pretty much covered. Is there anything besides silver and other precious metals that is undervalued and will increase or maintain its value as we enter into a recession with temporary deflation before we get massive inflation?

I'd ask my parents, but when I ask them they don't say anything and quickly change the subject.

Edit: Thanks for all the advice!

 

[LibertiORDeth]

Silver.

 

[RJB]

The way the economy looks... food and bullets

 

[priest_of_syrinx]

Buy some of these:

2008 Silver Eagles. That's what I've been buying.

I'm down to $18 cash now.

 

[Cali4RonPaul]

$350.00 of Fiat Dollars is very small. Continue saving for the long term, If you have limited capability to grow that $350.00 in earnings beyond 3 fold within 2 months. You might as well just spend that $350.00 and enjoy being 16.

 

[eric_cartman]

rice or silver

 

[LibertiORDeth]

rice or silver

Your username rocks my friend.

 

[nate895]

$350.00 of Fiat Dollars is very small. Continue saving for the long term, If you have limited capability to grow that $350.00 in earnings beyond 3 fold within 2 months. You might as well just spend that $350.00 and enjoy being 16.

I have enough money to enjoy myself, this is less than half of my $835 I currently have and I will start a job soon enough, and I have another apx. $500 in cash coming down the tubes for Christmas (assuming I get the same amount of money as I have every year since I was 10).

I guess I'll just put this into silver, nothing else seems affordable or stable.

 

[tmosley]

You think silver is stable? It's been volatile as Hell!

Of course, it's also way down right now, so it's a good time to buy.

 

[nate895]

You think silver is stable? It's been volatile as Hell!

Of course, it's also way down right now, so it's a good time to buy.

I know it's instable, but this seems to be the floor. If I get in on the ground level, I can go nowhere but up.

 

[Dorfsmith]

rice or silver

I've been stocking up on both. Rice and silver is the way to go

 

[Kludge]

$350 in New World Fund for 50 years = 350 * 1.1099 (fund's lifetime avg. return after sales charge)^50

Future Value = $64,207.35 for retirement.

 

[Knighted]

Given your age, you should invest it in the stock market. What happens over the next 10-20 years will be irrelevant with the time frame you have at your advantage.

Nothing will beat stock returns over the long run. Gold and silver are for preserving wealth. You don't need to preserve it yet. You just need to grow it.

 

[BCR_9er]

Buy silver! With the likeliness of the dollar to fall, your silver will protect you from that.

 

[nate895]

Given your age, you should invest it in the stock market. What happens over the next 10-20 years will be irrelevant with the time frame you have at your advantage.

Nothing will beat stock returns over the long run. Gold and silver are for preserving wealth. You don't need to preserve it yet. You just need to grow it.

Is there any particular stocks I should look at, or would something like Kludge suggested work? My hope was to get enough money to eventually help finance the down payment on my first home, so 50 years isn't exactly my time frame, I'd hope to get into my own home by age 30, so apx. 14 years.

Edit: Of course what I could do is put $350 down as my initial investment, and pay in 25-50% of my earnings while still in HS. I am participating in a program called "Running Start" where I can get two years of college and my AA degree done while in HS and payed for by the state, so I will have a two-year head start on earnings on most people.

 

[Kludge]

$350 in New World Fund for 14 years using given avg. = $1,506.75 (or a 431% return) for reference.

And food for thought and a warning against single-stock/commodities deals, gold would need to shoot up to $3,348.87 (in the past 10 years, the highest price was ~1,000 an oz.) to be equal to that of the expected return from NWF or a similar fund. Silver would need to be at $45.04 an oz. (10 year high is something like $22 I think).

For both gold and silver, it'd have to be at that price when you go to sell it.

Commodities are NOT long-term investments.

 

[FrankRep]

Silver.

Yeah, Silver.

$350 isn't a lot to invest so silver would be the best option.

 

[Josh_LA]

If you're looking to buy silver, here's what I do (and would do).
Go to coinflation.com and look at silver dimes, silver quarters.

They'll say, at today's silver price
dimes are worth 80 cents at melt value alone
quarters are worth $2 at melt value.

Add about 10%, dimes will cost about 90 cents, quarters will cost about $2.20 if you account in shipping fees.

Go on eBay and shop! Narrow your search down to sets between $100-200 so you can find the best deal (and look for "completed listings" so you know what's been sold in the past at what price).

Silver looks incredibly low on the market price, but eBay reflects that its still sells as if we're at spot price $15. ALWAYS COMPARE.

 

[Josh_LA]

$350 in New World Fund for 14 years using given avg. = $1,506.75 (or a 431% return) for reference.

If you can wait 14 years, let me have it, I'll give you that in 4 years realistically.

 

[Josh_LA]

I know it's instable, but this seems to be the floor. If I get in on the ground level, I can go nowhere but up.

Look on eBay or call a coin shop, they'll tell you they're either gone, or they won't sell it to you at anywhere near the market price, so the market price really doesn't matter if you can't find a seller willing to sell.