What should I do with $18k in my checking account?
December 8, 2010 by
Filed under Silver Investment FAQ
It’s just sitting there right now not collecting interest or anything…I already bought a few troy ounces of gold bullion and a kilo of silver bullion as investments, and have a few grand in cash lying around in addition to this account…so what can I do to put my money to work?
Buy stock in GOLD, MWE, and GTE. Oil companies and electric companies typically do well.
I would also advise you try to buy some property. Having all your savings in stock, or one financial growth sector, is unsafe. If the stock market crashes and ALL your saving is there, that is not good!
Mutual fund account with any of the brokerage houses.
Depends on the type of risk you wish to take. Since your already invested in precious metals perhaps you may want to diversify a little and invest in other investments such as real estates, bonds, or stocks. Real estates and stocks look great for long term investments from here with bonds showing great returns in the short term.
How old are you? Do you have an emergency fund of 6-8 months living expenses in the bank or credit union? Have you paid off your credit card debt? Until you’ve done these, you have no business investing in anything.
Gold and silver are not investments. they are hedges against inflation.
You are putting the cart ahead of the horse. Emergency fund first, then fund your 401k to the max, then a Roth IRA. THEN you can think about investing spare cash.
If you don’t want your money sitting in your account you can always put it in mine for a while 😉