So how do I start?
OK so you have decided that you want to try some of these alternative investments but you are not sure where to start? The first thing to do is to decide how much you can put away every month. The amount should be not too much and not too little but the best part is that it is not fixed, you can always adjust it based on circumstances. I recommend that you put the money away first and not last. Make it so that this months money has already been transferred to the accounts at the beginning of the month as you stand more chance of living without it if you do not already have it. One important thing is that once it has been put away do not touch it. Converting the investments back to cash usually involves some losses which you do not want to take.
Now you have a rough idea of how much think about where you want to put it. Some investments only make sense if you put away a minimum every month due to overhead costs such as shipping or account fees. For example, buying silver coins carries a $10 shipping fee unless you buy $100 or more. In that case you would be better off spending $100 per month (or every other month) on silver coins. Spending $20 per month would only net you $10 worth of silver, a 50% loss before you even start.
Example:
$100 - Silver coins - avoids the shipping cost.
$50 - Peer to peer - No other costs so this can be adjusted easily.
$20 - Gemstones - This will get one gemstone per month (roughly).
$170 - Total.
$100 - Silver coins - avoids the shipping cost.
$50 - Peer to peer - No other costs so this can be adjusted easily.
$20 - Gemstones - This will get one gemstone per month (roughly).
$170 - Total.
The silver coins entry is at its minimum but the others can be adjusted accordingly. If you have some spare money at the end of the month then you can add it to any of the accounts listed above easily. If last month was a bad month you can reduce the Peer to Peer or Gemstones a bit this month. if you only want to spend $50 on silver coins then buy $100 every other month and avoid the $10 shipping charge. After a few months you may decide to adjust the numbers, so go ahead and do so. The choice is yours and as long as you are putting something away it is difficult to go wrong.
So make a start now, go ahead and go to one of the precious metals sites and actually buy some. Create an account on a peer to peer lending site and transfer some money. Once you start and do it once you will be comfortable with doing it every month. The key is to make a start.
It can be difficult to know when to start but the answer is actually quite simple, start now. Once you start it will become a habit to put aside money every month and it will not be long before you will start to see the accounts grow or the piles of silver and gemstones get bigger.
If you wish to contribute anything to this website then you can use...
LiteCoin - LaKuUo79HUK7aFiQ1RcVQcGmYiygDyFmCP
Bitcoin - 1Du3cArBUoqeUq9rH4wf751Sgmf93L1qPh
Bitcoin Cash - 15FknjDrGjFaRU73w6bW39Y1yRsWk6YMMQ
Ethereum - 0x6bec9780ac6140c6482660d374752E670DE919e6
USD Coin - 0xf679698c0C7d7c0874ABF4F8961d6e59Dd150747
Dash - XemJNijztWskj68cdt9kw3scTRSzeKTEiW
Zcash - t1fA9bRjdoQgMCErHfVEi4zuEJ6gwN7qWtm
LiteCoin - LaKuUo79HUK7aFiQ1RcVQcGmYiygDyFmCP
Bitcoin - 1Du3cArBUoqeUq9rH4wf751Sgmf93L1qPh
Bitcoin Cash - 15FknjDrGjFaRU73w6bW39Y1yRsWk6YMMQ
Ethereum - 0x6bec9780ac6140c6482660d374752E670DE919e6
USD Coin - 0xf679698c0C7d7c0874ABF4F8961d6e59Dd150747
Dash - XemJNijztWskj68cdt9kw3scTRSzeKTEiW
Zcash - t1fA9bRjdoQgMCErHfVEi4zuEJ6gwN7qWtm