Investing

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  • burt gummer

    Expert
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    1   0   0
    Jul 14, 2012
    862
    18
    noblesville
    So im wanting to invest in another form of currency that will be valuable whether it's gold, silver, my friend said I should get Zimbabwe bank notes cause they are supposed to revalue soon and worth a lot. I'm not sure what to get, or who to talk to, and yes I could definitely use the money.
     

    JettaKnight

    Я з Україною
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    6   0   0
    Oct 13, 2010
    26,517
    113
    Fort Wayne
    So im wanting to invest in another form of currency that will be valuable whether it's gold, silver, my friend said I should get Zimbabwe bank notes cause they are supposed to revalue soon and worth a lot. I'm not sure what to get, or who to talk to, and yes I could definitely use the money.
    So, if I understand, you're wanting to invest with money you can't do without.

    Then don't speculate currencies.

    If you're investing in Zimbabwe, or any unstable economy, expect that you'll loose everything. Seriously. This goes for cryptocurrency as well.


    Have you exhausted all other investing routes? Why do you want to invest in currency? How do you intend to invest, i.e. going to a bank and buy foreign hard currency? I would think you'd lose too much to exchange rate fees. If it's within a tax-advantageous account consider exchange traded funds for commodities and currency.

    And if it's not is an trad. IRA, 401K, Roth IRA, then you need to get those going first then when you've maxxed out all other options (e.g. S&P 500 index fund), consider these exotic items.

    As with all investments, diversification is your friend.
    https://etfdb.com/etfdb-category/currency/

    Now, valuable metals could be a good investment option in bearish markets, but you're young and can stomach some ups and downs and probably would do better in the long run with a higher percentage of diversified equities.


    YMMV, IANACPA, yada, yada, yada.
     

    Phase2

    Grandmaster
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    6   0   0
    Dec 9, 2011
    7,014
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    So im wanting to invest in another form of currency that will be valuable whether it's gold, silver, my friend said I should get Zimbabwe bank notes cause they are supposed to revalue soon and worth a lot. I'm not sure what to get, or who to talk to, and yes I could definitely use the money.

    The two posts above are spot-on. Zimbabwe has a terrible record of hyperinflation. If you know anything about the recent currency situation in Venezuela, Zimbabwe was simply a predecessor.

    Get rich quick schemes are designed to separate a fool and his money. Do not invest in anything you don't understand. Invest in a good education, not speculative assets with no information.
     

    JettaKnight

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    6   0   0
    Oct 13, 2010
    26,517
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    Fort Wayne
    So im wanting to invest in another form of currency that will be valuable whether it's gold, silver, my friend said I should get Zimbabwe bank notes cause they are supposed to revalue soon and worth a lot. I'm not sure what to get, or who to talk to, and yes I could definitely use the money.

    Oh, I should ask - is Warren Buffet this friend? :dunno:
     

    JettaKnight

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    Oct 13, 2010
    26,517
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    Fort Wayne
    Mr. Brooks said to invest in stuff people need. Cemeteries, and the water company.

    I've made a lot of money by investing in São Paulo's water treatment service. I figure if you find the place with the dirtiest water, then there's going to be a big need for services.
     

    NKBJ

    at the ark
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    4   0   0
    Apr 21, 2010
    6,240
    149
    Was thinking about the remaining value of the $US. But how to run some calcs to check? OK, the price of a gallon of gas then and now or some other item (clothes, houses, etc) we all still use. It's all very iffy. I played around with it and came up with under 2%. Any yall tried reality checking the party line and conventional wisdom on this?
     

    sngehl01

    Plinker
    Rating - 0%
    0   0   0
    Sep 21, 2018
    53
    6
    Elizabeth
    I have some crypto right now. Enjoy the roller coaster ride. It's up now, bad time to buy. I wouldn't trust much outside of the big 3-4 crypto currencies (I do BC).

    If you can't go without the money, don't speculate on an investment.
     

    sgert

    Plinker
    Rating - 0%
    0   0   0
    Jun 2, 2019
    3
    1
    Evansville
    Find and speak with a Fiduciary, and keep in mind that in the long run asset allocation is the key. Not just being able to make a profit, but minimize draw-downs when other investment sectors take a hit.
     

    rebarguyindy

    Plinker
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    1   0   0
    Aug 20, 2013
    52
    8
    Spencer, IN
    A lot of good advice given above. I agree with the idea of investing in a good financial education. It will pay dividends your entire life. In some regards, investing is fluid. What works now may not be the best in the future.
     
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