Budget Investing Update: 1 month later

A couple months ago I made the decision to start investing my money, in some way shape or form. Right now I am making considerably less money than I was a year ago, but I'm not using that as an excuse to not invest in my financial future. In my previous videos I discussed what made me start investing, I gave a little bit of background information about myself, and some of the reasons I decided to attack investing in the ways I chose too (mainly due to the mindset I developed in my previous career).

Right now the only things I do with my money is pay the bills, and buy food and gas. Any money that is left over, I have invested in either pennies, nickels or silver bullion and 90% coins. I don't drink often, I don't have an entertainment budget. The girlfriend and I go out to eat sometimes but we mostly cook at home.

I'm still new to this game, but I'm a fast learner. Right now silver historically goes into a little slump for the summer, but the experts are having a hard time gauging this market. Some expect it to break up, others expect it to break down. $42 and $29 seems to be the range it's expected to go.

Right now I'm able to decrease my average cost per unit, albeit minimally. I figure as long as I can buy under my per troy ounce average, I'll continue to purchase during this kind of sideways moving market. As long as I'm averaging down, I'll make the purchase. Today I bought 1 oz pure and $1 face of 90% coins and it brought my overall average cost per ounce down from $40.37 to $40.31. It's not much, but it still moved the average in the right direction.

I eventually plan on moving into other investment markets, and step outside of commodities, but right now, I can't afford to be aggressive with my money, and while this type of investing might not payoff huge in the future, at the very least it preserves the wealth I do have at this time. So I plan on continuing with the low risk investing, until I'm in a position where I can expand to other markets and be able to absorb more of the risk of loss if things went south.

Category:

Howto & Style

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• physical
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• metal
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• 90%
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• troy
• ounce

[ArgentPure]

Time to post a new video to show us how you are doing now! It is amazing how your stack will grow with ongoing small additions over time!

[Nnells421]

@ArgentPure I hadn't realized how much my stack has actually grown since this video until I re-watched it after reading your comment, as it piqued my interest. I will have to do another update video to this one soon, as I really think it's a good example of how you can slowly grow a stack over time.

[firewallsniper]

its nice to see a youtube video where im in the same boat where i don't own much silver i own about as much as you rite now .. i guess we gotta start somehwhere ;)

[Nnells421]

@firewallsniper just keep buying what you can afford to. It might only be an ounce or 2 at a time, but one day, we'll look at our stacks and wonder "WHEN did they get so big?"

[Einsilverguy]

Keep stacking dude. Slow and steady win the race. You might check the pennies. Not sure if you know but pennies after 1982 have very little copper in them. I think they are mostly zinc.

[Nnells421]

@Einsilverguy all those pennies are hand sorted and all are 95% copper. I've been through 5-6 $25 dollar boxes of pennies and I'm pulling between $6.50 and $9 face of pre 82 pennies per box. That 26 pounds is a legit number man.

[bsowa1028]

Very nice stack you've got going there. I like the diversity too. I like to do the same.

[paulwood222]

Were all in silver early anyway, its not started to go mainstream yet. Well all look back at silver under 50 and wonder why we didnt buy more!

[firewallsniper]

i had to sale off 10 ounce's today for a new lawn mower actually mow about 15 ounces had to give up some of my 90 percent ones too i own a landscaping business and i needed a second lawn mower i still have 21.50 ounces ill be buying more next week though :)

[alphabeets]

Pre1965 US silver coins are all good.

[alphabeets]

The best investment is going to be non-numismatic type coins. You just want to buy the raw silver in the old coins. Forget about the collectable types.

[alphabeets]

Stick with the American coins. Don't buy ANY clad type EVER.