Would you think it wiser to...

Invest in gold and silver?

or

Partner in opening/running a bar?

12/18/2012 1:28:50 AM

All responses appreciated.

12/18/2012 1:29:20 AM

To be honest, neither.

There are a lot of facts needed to be given to make a good decision:

Would the bar be a full time job? Where would it be at? Who would be your partner? Would you be able to get your money out when you want? What kind of financial shape are you in? Etc etc

I dont like just investing in precious metals

12/18/2012 1:31:48 AM

gold closed at 1702.22 at the end of the day today

imo the time to invest in gold was when it was <1000 or less than <500 like i did :humblebag:

i just dont see it giving you meaningful profits over the next few years, but thats just my amateur speculation

a bar on the other hand can be very lucrative, but it needs to be the "in" bar for awhile and draw traffic from other bars...it will obviously be more work than just buying gold, but imo the short term upside is greater...but thats again assuming its a happening place

[Edited on December 18, 2012 at 1:32 AM. Reason : backwards < signs]

12/18/2012 1:32:25 AM

^^I'm considering gold and silver in the eventuality of a dollar collapse. Otherwise I would just save the money and wait till a better investment came along.

If I were to open a bar it would be with my brother and located either in Raleigh or Wilmington. I would spend a good deal of my time working it myself. I have no debt.

[Edited on December 18, 2012 at 1:41 AM. Reason : .]

12/18/2012 1:40:31 AM

Invest in mcribs

12/18/2012 1:41:57 AM

I wouldnt hold you breath on the dollar collapse and i wouldnt suggest going into business with family unless you both have a great relationship, are both financially stable, and having the way work is going to be shared outlined before you get in.

12/18/2012 1:43:26 AM

If the dollar does in fact collapse anytime in the near future, (1-5 years?) the price of precious metals will increase, making it a wise investment in light of the fact that gold is already up 400% since 2003.

[Edited on December 18, 2012 at 1:47 AM. Reason : cant post shit w/out editing]

12/18/2012 1:45:11 AM

So much uncertainty nowadays.

12/18/2012 1:46:57 AM

It's not going to happen man. Like with 100% certainty.

And lets say it does, think about the ramifications and how you would get any value of that gold

12/18/2012 1:47:26 AM

i'm well aware of the gold price increase but i think its hit a relative high (1800 and something in 2011) and isnt going to significantly increase in value in the next 5-10 years

if it skyrockets, we've all got bigger problems because that means the economy has probably shit the bed even worse than it did a few years ago

12/18/2012 1:49:44 AM

golden retrievers

12/18/2012 1:50:48 AM

Just tryna drop knowledge and help a ninja

Ssly dont invest in metals and if you do, please dont invest in silver

12/18/2012 1:52:19 AM

Gold and silver would be used for making purchases just like it was years ago.

If the shit were to hit the fan, there would be tons of other things to worry about. In my mind it could only help to have some other form of currency that is/has been recognized as valuable the world over.

I would feel foolish if I just sat on the money and one day it was worthless.

12/18/2012 1:52:28 AM

^^I appreciate it. I'm sure you guys are much more knowledgeable about this sort of stuff than me.

12/18/2012 1:53:45 AM

golden retrievers

12/18/2012 1:53:45 AM

Man if we get to that point its going to be the end of the world

No one is going to give a shit about gold and itll be more of a pain in the ass having to transport it

The gold hoarders for the demise of the US economy are delusional. They need to treat it as an investment not as a safety vest for when shit hits the fan. If they feel that strongly, theyre better off buying a farm and building a huge wall around it while stocking up on guns

[Edited on December 18, 2012 at 1:57 AM. Reason : H]

12/18/2012 1:54:28 AM

they retrieve gold, come on guys they are a money making machine

12/18/2012 1:56:51 AM

Lol

12/18/2012 1:57:26 AM

^3 IDK no man. To quote Tom Petty, "its a great big world, with lots of places to run to." It seems so small nowadays but even under the worst conditions, somewhere, people will survive. 99% chance.





[Edited on December 18, 2012 at 2:01 AM. Reason : lm'rfbgdms'dzklfbmjs['eoifbnjs'lo]

12/18/2012 1:59:06 AM

Quote :

"they retrieve gold, come on guys they are a money making machine"

12/18/2012 2:01:17 AM

Lets take this in another direction...

I think the bar idea is pretty cool. My brother and I are pretty tight/get along great. He's a liquor Rep as is. I work in a bar as is.

I wonder what kinda profits I could except to bring in weekly if I were to open a bar that did a business similar to Black Flower?

12/18/2012 2:05:10 AM

Quote :

"I'm considering gold and silver in the eventuality of a dollar collapse."

Because if the dollar collapses we're all going back to the old standard ?

There's nothing that guarantees the value of gold/silver outside of consumer faith. Look at something that people will need should the dollar collapse. Petrolleum is a good one, though an even better one IMO would be grocery stores and the food market. We've all got to eat. It doesn't matter what happens to the rest of the economy (theoretically here) because by the end of the day, people are going to need to eat.

Now the question is, how do you go about exactly turning $$$ into a universal liquid asset via the food industry? I'll let you come up with that solution

12/18/2012 2:08:02 AM

Also, what would YOU invest in? Right now. 26K.

12/18/2012 2:08:13 AM

Neither.

12/18/2012 2:08:54 AM

26k of throwing stars, dude. You know, for when the dollar collapses.

12/18/2012 2:08:59 AM

solar tech or biotech (however biotech is very hit or miss, so you have to have a good eye)

12/18/2012 2:10:11 AM

Very funny, Mr. Joshua

[Edited on December 18, 2012 at 2:10 AM. Reason : ,]

12/18/2012 2:10:12 AM

Quote :

"Also, what would YOU invest in? Right now. 26K."

ammunition will be the new currency before gold

12/18/2012 2:11:29 AM

Hookers and coke and have a bangin party on 12-20-2012

12/18/2012 6:45:47 AM

as the famous statesman Frank Reynolds once said, "People gotta eat." In that case, invest your money in real estate, ammunition, and 55 gallon drums of government cheese for when the dollar collapses.

or, if you're a sane, boring person like I am, put the money in a nice mutual fund and the futures market

12/18/2012 7:17:41 AM

More information needed on your bar experience. How long have you worked in a bar? Any management experience in a restaurant/bar? Same goes for your brother.

As for the $26k...are you looking at taking over a pre-existing bar? Because that's about all you're going to be able to do with that amount of money. You looking to add that to an additional loan you're going to take out or is your brother going to chip in as well?

With the smallest of bars with the smallest of overhead...you're going to need AT LEAST $50k....but I'd lean more towards $100k...at the least.

12/18/2012 7:38:00 AM

I think you would need a hell of a lot more money than $26K to open a bar

[Edited on December 18, 2012 at 7:41 AM. Reason : ^ what he said]

12/18/2012 7:41:14 AM

Do not go into solar. you will lose all of your money. guaranteed.

12/18/2012 7:47:43 AM

Quote :

"Gold and silver would be used for making purchases just like it was years ago."

I still really question this mindset. How much value will most people actually put on gold and silver in a post-collapse type society?

12/18/2012 7:51:48 AM

Its neither wise to invest that amount of money in metals nor in opening a bar. Lots of carrying costs with a bar such as staff, utilities, taxes, rent, inventory, etc. Peak metal has passed for now, may have been a good investment in '07 but now its not. I think paying off debt or letting the funds act as an emergency fund would be your best bets if you don't have any previous investing experience.

[Edited on December 18, 2012 at 7:56 AM. Reason : ]

12/18/2012 7:54:46 AM

Quote :

"Do not go into solar. you will lose all of your money. guaranteed."

you sure about this?

I'm Krallum and I approved this message.

12/18/2012 7:57:47 AM

are you going to buy gold and put it in your house?

Because if you're investing in gold how are you going to physically get this gold if "the shit hits the fan"

12/18/2012 8:09:06 AM

Uh does anyone seriously invest in gold because they think shit is going to hit the fan?
Does anyone seriously think shit is going to hit the fan?

I'm Krallum and I approved this message.

12/18/2012 8:09:54 AM

tragicnature?

12/18/2012 8:10:44 AM

Quote :

"TragicNature All American 10901 Posts user info edit post Gold and silver would be used for making purchases just like it was years ago."

Wat.

There also was no paypal years ago.

Credit cards didn't exist years ago.







Good luck getting milk at walmart with gold. Good luck getting gas with gold. Good luck paying any bills with gold. I don't even think you can pay a water bill with cash. All of that shit is nice to think about but the logistics of the collapse of the dollar are outside of anyone's comprehension. I'm sure it wouldn't be as simple as exchanging the dollar for something else. All of that shit worked before globalization because everyone could trade gold for something else. It was universally wanted and more importantly it was delivered in smaller denominations. If you spend 26k on gold you won't be getting any useful amounts.

I'm Krallum and I approved this message.

12/18/2012 8:16:44 AM

this dude quoted Tom Petty.

12/18/2012 8:29:17 AM

Bottle caps were used as currency in Fallout, NOT GOLD.

Think about it.

12/18/2012 9:08:55 AM

invest in guns. when the shit hits the fan you will never have to worry about getting supplies.

12/18/2012 9:32:35 AM

Diamonds.

My research leads me to believe they are forever.

12/18/2012 11:13:02 AM

Is this $26k you don't care about if you lose?

12/18/2012 11:15:51 AM

guns. totally serious.

excellent ROI

12/18/2012 11:17:08 AM

what bar... i will assist if its in raleigh

i've always wanted to own some bar....

12/18/2012 11:20:18 AM

Bar if I had to choose between only those 2...


Otherwise, I would buy a classic car (prob at small auction) then trailer it to one of the big auctions and make a quick 2-4k. Then rinse and repeat. If I had the time...

12/18/2012 11:24:35 AM

My company will give you 4% on a 26K term loan with a term of 36 months payable to you as $810/month for a total of $29,160 and a profit of $3,160.

12/18/2012 11:36:07 AM