what to do with 10k

tomgaa

i looked up 10k with BOI august 2011 and just got my return of €258. i no interest rates are lower now than they wer a year ago so i dont fancy lockin it up for another year with no access for a return of 200-300. just wonderin whats out there that i could get some better than the banks are offering

A Primal Nut

Mostly a beginner myself but perhaps look into Commodities. All the experts seem to think they are a sure thing. An ETF such as ISHARES COMMODITY is unlikely to lose you any money and there is a good chance of earning more than 2% in a year at least (compared with BoI).

tomgaa

http://www.msnbc.msn.com/id/15768192/ns/business-answer_desk/t/should-i-invest-commodities/#.UF4OK7KPUqY this article makes commodities look very risky

A Primal Nut

tomgaa wrote: »

http://www.msnbc.msn.com/id/15768192/ns/business-answer_desk/t/should-i-invest-commodities/#.UF4OK7KPUqY this article makes commodities look very risky

True but I think that's mostly about speculating in futures which of course is very risky. I was referring to an ETF, which that article suggests at the end.

One alternative for individual investors is to buy shares in a commodities mutual fund or an Exchange Traded Fund that tracks individual indices or a basket of several commodities. Besides hedging your bets, ETFs can also lower the costs of diversifying into commodities.

Sorry I should have clarified that in my post although I did give an ETF as an example.

The article also says:

But if it’s money you truly don’t want to lose, you’d better stick with Treasury bonds.

Which is good advice I guess although not sure if it's any better than a savings account in Ireland.

Roonbox

if you are smart you will buy all the physical silver you can get hold of and let it sit for 5 years

bacon?

Roonbox wrote: »

if you are smart you will buy all the physical silver you can get hold of and let it sit for 5 years

Roonbox is right, you can also buy physical silver online with bullionvault, it's kept in one of 3 vaults, Switzerland, New York or London... I'm not in a postion to buy physical Silver, I travel a lot, so it suits me.

tomgaa

is silver goin the way gold was 6 years ago... i only ask coz investing is all new to me... whats the best way to buy silver, can you but it thru the bank no???

imme

tomgaa wrote: »

is silver goin the way gold was 6 years ago... i only ask coz investing is all new to me... whats the best way to buy silver, can you but it thru the bank no???

do you think an internet forum is the best place to be looking for this kind of advice?

You can get a better rate than the one you mentioned in you opening post re the BOI, try other banks etc.

DarkDusk

Physical silver and gold will be the best performing assets over the next 5-10 years in my opinion. With paper currency being devalued everyday, investment in real tangible assets is a very good idea. Shares are not a good investment at the moment, the market is very volatile (look at Google and Apple!) and stocks are only getting the sugar rush from quantitative easing.
I see another stock crash coming very soon (less than 2 years) which will result in a currency crisis, that will drive gold and silver through the roof. As I like to say, they can print all the money they want, but they can't print gold and silver!

I'll just add a prediction now for gold and silver, to look back on and see how close I was. By the end of June 2013, I predict gold to be at $2300 and silver at over $45. These are underestimates.

James.

tomgaa

DarkDusk wrote: »

Physical silver and gold will be the best performing assets over the next 5-10 years in my opinion. With paper currency being devalued everyday, investment in real tangible assets is a very good idea. Shares are not a good investment at the moment, the market is very volatile (look at Google and Apple!) and stocks are only getting the sugar rush from quantitative easing.
I see another stock crash coming very soon (less than 2 years) which will result in a currency crisis, that will drive gold and silver through the roof. As I like to say, they can print all the money they want, but they can't print gold and silver!

I'll just add a prediction now for gold and silver, to look back on and see how close I was. By the end of June 2013, I predict gold to be at $2300 and silver at over $45. These are underestimates.

James.

how do you buy gold or silver, i was lookin on bullionvault but from what i read you need a bank account in the uk atleast

OP, I'd get proper advice rather than asking on here tbh.

Sure if it was as easy as the above said we'd all be loaded.

tomgaa

rarnes1 wrote: »

OP, I'd get proper advice rather than asking on here tbh.

Sure if it was as easy as the above said we'd all be loaded.

i agree with you to a certain extent, but just always good to hear what people think, what has worked for them....... some people might know what there talking about. where would you get proper advice??? financial adviser???? even some of those wouldnt be great.. look at our banks:p

greecy_joe

silver and gold pay you nothing while you hold them and are speculative purchases , the price of gold and silver could drop by half and not get back to where it is now for twenty five years

areyawell

You buy future options on the stock market and hope the price of them will rise to make money

bacon?

tomgaa wrote: »

how do you buy gold or silver, i was lookin on bullionvault but from what i read you need a bank account in the uk atleast

You can use your Irish bank account no problem, there is a 15euro fee each time you transfer money to it... and you can only transfer 1 currency at a time.

So, make sure you buy and sell in 1 currency... or at least, change it to 1 currency before you transfer... you can do this by selling $ for instance and then buying in euro.

Bullionvault

DarkDusk

greecy_joe wrote: »

silver and gold pay you nothing while you hold them and are speculative purchases , the price of gold and silver could drop by half and not get back to where it is now for twenty five years

Why and how would gold and silver drop by a half? Please don't make a comment on something without backing it up with facts.

I wouldn't recommend buying gold/silver from bullionvault. They are companies that offer unallocated silver and gold, which means that you could buy 10oz of gold, but that could be in a 100oz bar that is shared with other buyers. Also, most of those companies don't have the gold and silver they claim to own, they keep a percentage in the event of "a run on the bank". This is what happened to MF Global, and investors ended up losing a lot of their money. Physical silver and gold is the safest and surest way to own precious metals, because you actually own them.