5 thoughts on “I want to invest in precious metals (gold) and foreign currency. What is the most efficient way to do this?”
Dominick L
Being a Personal Banker for JP Morgan Chase, i can tell you that the quickest way to get answers would be to go down to the bank and talk to a personal banker right away. They can assist you in funding your money straight through retirement.
UNDERSTAND THIS THOUGH!!!
A Banker cannot and should not invest your money into something that your risk cannot tolerate. Some questions he should as are..
What’s your age? How long until you plan retirement? What’s your risk tolerance (Related to age)
The things you wish to invest in might not be the right fit for you. I mean could you imagine someone investing in bonds when they are 20 years old. Or even worse… A 58 year old man, about to retire in a few years investing 100 percent of his assets in stocks. One bad day on the market, and his whole life savings could be gone.
Definetely talk to a banker right away. Their will of course be fee’s or commissions but they are dependent on the amount of money you invest. It’s like that everywhere.
Being a Personal Banker for JP Morgan Chase, i can tell you that the quickest way to get answers would be to go down to the bank and talk to a personal banker right away. They can assist you in funding your money straight through retirement.
UNDERSTAND THIS THOUGH!!!
A Banker cannot and should not invest your money into something that your risk cannot tolerate. Some questions he should as are..
What’s your age?
How long until you plan retirement?
What’s your risk tolerance (Related to age)
The things you wish to invest in might not be the right fit for you. I mean could you imagine someone investing in bonds when they are 20 years old. Or even worse… A 58 year old man, about to retire in a few years investing 100 percent of his assets in stocks. One bad day on the market, and his whole life savings could be gone.
Definetely talk to a banker right away. Their will of course be fee’s or commissions but they are dependent on the amount of money you invest. It’s like that everywhere.
Hope this somehow helped you.
-Dominick-
Well for the average joe buy a mutual fund
UNWPX is a great one that has been performing well.
There is indeed a 1 stop shop. It is called Everbank.
http://www.everbank.com/001Products.aspx?LinkID=Navigation
You can buy Precious metals and keep money in foreign currency. Note though, it will still be sitting as “cash”, you may not be able to invest it.
Secondly if you want to buy foreign stocks, open a GLOBAL TRADING ACCOUNT in Etrade. You can buy stocks in 6 foreign currencies.
https://us.etrade.com/e/t/investingandtrading/globaltrading?SC=MNGT072&SC=00C9EF0700654DCA000D9447&sourceCode=00C9EF0700654DCA000D9447
Buy ETF’s Exchange Traded Funds. GLD is an ETF for gold and there are others.
Look at AUY for gold, seriously undervalued mining company.