Noob questions, be gentle with me

I have a little over $80,000 in the bank, in my savings account. I have no clue about business, trading, stocks, etc. I just know how to live frugally.

I've never taken a money-related risk in my life and I don't want to.

My plan is to save enough to buy a house with no mortgage. I figure in about 7-8 years I'll have enough (I started working about 3-4 years ago)

Is this a sound plan? In what ways could I get fucked in the meantime if I continue to sit on my money?

Also, I want to learn a little more about finance, what's a good place to start? I'm generally very busy and have little time to read, so I need a tl;dr

>ways I could get fucked in the meantime
US Gov. decides to inflate their money supply (even more), making your money worthless.

I've thought about investing in gold as a way to circumvent inflation, but I made a few threads about it on here last year and people told me not to. Has the consensus on buying precious metals changed?

What a waste of 80 grand rotting in a bank with shit interest rates.

Get a Roth IRA compound interest my friend look it up the rest hmm don't buy ltc and hold it is my only advice

what should I do with it instead? I want something with nearly 0 risk.

Don't you get penalized for withdrawing money from a retirement account?

Time to diversify bucko. Are you really going to let that money sit for 7-8 years losing value? Why not just put a big ass down payment on a 3 bedroom house, rent out the other 2 rooms, and pay it off in like 3 years?

The way I understand downpayments and mortgage is like this, correct me if I'm wrong:
Let's say a house costs X and that I now have 0.3X
Mortgage roughly doubles the cost, so 2(X-0.3X)=1.4X
So I end up paying 1.7X for a house that costs X. On the other hand, rent minus taxes for owning a house is about 0.05X a year.

Wouldn't I be better off just renting and paying X in 7-8 years? Basically, less money to the bank jew, more money to the rent jew

No op that is the point of a Roth IRA. Seriously look it up you pay taxes on what you put in and not what you take out. It's the opposite of regular ira. Would you rather pay taxes on the 40 grand you put in or the 500grand you take out? Check out Dave ramsey he gives solid advice he has a radio show

Misunderstood your question yes if you withdrawal before retirement it's s ling term investment you can only contribute five grand a year

>i want 0 risk
>goes 100% fiat, which is backed by nothing, which could hyperinflate the second the petrodollar does, and is guaranteed to lose at least 2% value every year

Lmao boomers, never change

OP, gold and silver has been around for thousands upon thousands of years. Its not going anywhere, buy some

Otherwise, but a vanguard etf like a good boomer

Or be smart and buy some fucking weed stocks like me

You would be up.

Veeky Forums isn't really very good at Veeky Forums

You are at risk of an inflationary event.

Foreigners are started to reject US treasuries. This has been weakening the dollar.

Lots of money has been kept overseas.

Trump has made it easier to bring cask back to the USA.


When all that money is repatriated it will be a highly inflationary event. Coupled with the fact that young people are starting to abandon government currencies instead for crypto "shares" which can also be used as a currency or easily exchanged for digital or government currencies.


The money in your bank is about to be worth a lot less

I'll be honest user you're a lot closer to buying a house than I am so you've probably some more research but my understanding was that the bigger your down payment is the less you pay in interest. Either way I would find some way to make more money with that money. Build a bunch of skyminers

>nearly zero risk

Just keep doing what you're doing Norman, you don't want our advice.

>Boomer
I'm 25 years old...
But I would also lose 6-7% buying gold and selling it in a few years, just from the difference in buy vs sell value, right?

You are buying gold at a slight premium but sell it for the market price. So you buy it for like 2-3% over market price, depending on your gold seller. Which is like 1 year of inflation

Literallly buy some fucking fixed coupon 3 percent treasury bonds if your this much of a. Pussy bitch.

Veeky Forums is full of financial retards whose only foray into investing has been the crypto bubble.

Gold and Silver will moon in the next 5 years. The prices are currently manipulated downwards, when central banks lose control in the next crash they will shoot up like a ball held underwater. Silver is currently at 80:1 to gold; historically it has been at 30:1. That means even a return to normal will have silver increase by 230% in value. They are speculative assets that are held down, but they're also important industrial raw materials that are needed in electronics and the demand will increase in the future. There is twice as much gold on earth as there is silver, and much of both is held in more than a billion small parts spread around the world, held mostly for sentiment by women, ie irretrievable by industry.

I highly recommend you research into gold and silver (physical) and I would put 25-50% of your money into them. I'm personally in 100% but that's because I've only been working 6 months and my portfolio is worth $5k. The metals are massively undervalued because the sheer amount of "paper" gold and silver makes it seem like there's a lot more than there is. That's why it's important to buy and store them physically. There are 600 people with pieces of paper that say they "own" 1kg of silver for every actual 1kg of silver, and when they try to get it out of the storage they'll find it's not there.

Gold is pretty OK, but here's the thing: YOU NEED TO DIVERSIFY. If I ha 80k, I'd go around it roughly like this:
>20k in gold/silver
>20k in bonds
>20k in stocks
>20k in crypto (with 10k in BTC/Eth/Monero and 10k in volatile but promising shit like LINK, NEO, etc)

Or something like this. If you have a bit more, real estate is also a pretty safe bet but not absolutely safe. If you have enough, land is GOAT, if it's on soil that you can grow shit and there are no niggers around. But never put 100% of your money in one basket and definitely never trust the (((banks))) to handle it. The more control you have over your funds the better (that's why I particularly like crypto).

I see, thank you for your insight.
What's the best place to buy about 30k of gold?
Is there a way to buy it anonymously?
Is it better to buy bars or coins?

I like crypto in principle, but I'm real fuckin paranoid about it. If it can gain/lose 50% value in a few weeks, it's way too risky for me. I'd rather lose 2% to the inflation jew than suffer the stress of my bitcoin wallet losing half its value overnight

I understand. I'm in crypto because I genuinely believe it will change the world to the better. Same reason I haven't bought any ripple.

Still, you're being an idiot if you think the biggest risk is losing 2% to inflation. The biggest risk is your bank shitting itself, or the USD shitting itself, and then, only things with true value will be useful (like BTC, gold/silver, land, guns and ammo, etc).

Right now you're putting everything upon the assumption that your bank isn't going to fail. It's a ticking time bomb.

I agree with your general thought, but BTC wont survive, when everything is shitting itself, especially the whole eco system when USD is going down

You can basically buy gold anonymously with cash at any vendor up to 10k. No clue what your rules / laws are in your country.

That's why you won't be putting all your crypto money into BTC. You'll buy ETH, Monero, LTC, whatever as well. Sure, any one of them may die but the gains in the others while that's happening will have made up for that loss.

Also I wouldn't recommend putting 20% of your total portfolio into crypto if you're extremely risk averse.. Go with 5% or something that you're willing to lose.

Never ever buy gold unanonymously. Remember, the US Government literally collected the gold from their citizens unlawfully at some point. Anyone who was on a list of IDd customers was the first to lose his gold.

I'm in the UK so I buy mine from the Royal Exchange in London. I would advise you go for the biggest, most mainstream company you can find in your state's capital or online. The kind of place billionaires buy their gold from. They will be most reliable and helpful as they're used to dealing with wealthy clients who demand perfect service. Do your research and check reviews etc.

There's no way to buy it anonymously without risking being scammed. I mean, you have to get it delivered to your address. But why would you want anonymity?

Bars will get you more metal for your money but are less liquid. For example if you needed cash quickly and only had 1kg gold bars, you'd have to cash out more than $10,000. Coins are more expensive per gram but you can cash out like $500 at a time. So for the long investment get 90% bars and 10% coins or something like that.

Buy a gold ETF. It will be impossible to sell a gold bar as private person because the market is already flooded by chinese fakes with tungsten cores. Look up alibaba for fake gold bars/coins. They fake even collector coins with fake certificates etc . The private market is dieing because of the fakes. Noone will buy a gold bar from a private person.