Questions and Answers
I don't plan on touching the money till retirement. I am just looking for a safe place for my money.
Tho I think it's a bad idea, you can buy the GLD etf. Gold can decline in value just like any other commodity.
You can not buy/hold physical gold in an IRA.
Is my portfolio diversified enough? Am I on the correct path to financial success? Are there more options that would bring in moderate to high returns? I am 27 years old and have a steady job. I have enough in savings to pay off any major debt in full if ever need be without wiping my savings out 100%. I have very low interest rates.
Simple IRA: $2,085.86
Growth Income: 45%
Equity Income/Balanced: 10%
Precious Metals: $3,065.27
I would appreciate some real sane and realistic advice. Thanks.
Medals are all physical. A little over half of savings was used at first. The rest is bought strictly out of income.
If your Precious Metals are in fact in physical form that you have in your possession then yes you are doing fine. However, you should not have anything in any bonds. Bonds are high risk at this time due to the debt time bomb. From your details from your question you seem to have a basic knowledge on investing and savings. If you are inclined to learn more about finance and economics as to what is happening in these markets and want to further your knowledge then I suggest you take the time to listen to the following radio show. The Financial Sense Newshour Http://feeds.feedburner.com/fsn This show explains in great detail what is going on in the economy. They interview people from many different viewpoints and conduct interviews in a very fair and objective manner. I strongly suggest you listen to this. I have learned tons from listening to this show over the years.
You are on the right track but for me personally I have pretty much gotten out of the market and have converted most of my savings into gold, silver, cash and PHYSICAL Canadian currency.