Hey, everyone! I’m new to the community and was hesitant to post because I thought I might be able to figure it out on my own, but I’ve had no luck, or at least no progress that I’m confident in. 
I’m working on a job now where I’m banking around $3,600 a week after the government steals their share, and I’m saving all this up for my return to college. I keep reading about inflation, and while this job may last another year and there are more opportunities after this one at around the same salary, I’m worried that saving will do no good in the face of all this inflation that’s bound to happen.
What’s the safest way to ensure my money will still be able to pay for college in a couple years when I go back? I’ll be 25 or 26 when I return to college. I have no debts or bills or obligations to anyone, as I have no family of my own and don’t plan to create one in the meantime. I’m just really worried that all this money, which I am so fortunate to be making, will be completely worthless in about 2-3 years. After all, that’s my luck. When I get a great thing going for myself, usually something comes along to make it a pointless victory. 
If anyone could provide any insight into this matter, I would appreciate it! Or you could point me in the direction of a book or blog and I can do the research on my own! I’m very new to investment and economics, reading everything I can, so I’m not sure if investment would be so great as that’s all one big mystery to me for now, but I see the warning signs of the road our economy is on and I am very worried.
Thanks so much!
im really curious why college is attractive to you seeing as you are earning rather well?
My job as an environmental inspector on pipelines (natural gas and petroleum) requires that I be moving every 3-8 months, sometimes more often. It’s usually a 6-7 day a week 10+ hour job, though there are plenty of times where, like right now, I just sit at home all day. I don’t mind it right now, and usually the work doesn’t last a full year, so you only work 8 months out of every year and get the other four off, but the work is unpredictable. I got lucky to throw my lot in with a very successful and ambitious boss, so while I have guaranteed employment for now, if I ever branched out, or after she retires, I would have to rely on my own charms to get a job.
I like the job, don’t get me wrong, but it’s not one of my chief interests. I’d rather be a lawyer or a doctor to be honest. I definitely want a job where I’m not moving all the time… but that might change once I get such a job and wish I could travel all the time agian. The most satisfaction with this job comes from fighting against the FERC (Federal Energy Regulatory Commission) on a daily basis, using their own regulations against them. Their monitors are usually overzealous and lack any common sense at all, which of course is what you’d expect from any bureaucrat.
Edit: Just a quick note, don’t think I am an environmentalist. I see that the vast majority of the environmental movement is made up of short-sighted, overzealous, brainwashed peons and the bureaucracies that build up in response to all the regulation is just to create jobs for like-minded sycophants of their movement. My job is more to make sure we’re in compliance with regulation and to defend against their monitors when they say that we’re not.
interesting! good luck with everything.
i’m not capable of giving entrepenurial type advice, sorry. but maybe someone else here will chip in…
No problem! But I don’t think I want to start a company. I’m not very innovative.
I just hope in 2 or 3 years my money doesn’t become useless paper.
it would seem the logical solution would be to purchase things that you believe will better hold their value for you than paper which you suppose will be shortly useless. the decision of what such ‘things’ would be and the purchasing of them would be an entrepeneurial decision. you are a speculator in commodities or what have you.
typically on these forums people advocate buying precious metals.
I see. I wasn’t aware of that aspect of the definition. I’ve heard from friends about buying precious metals as well. What avenues would you take to acquire precious metals? I’ve heard of people buying actual coins of gold and silver, and I’ve heard of people buying gold stocks, which I believe are paper receipts for gold that you don’t actually have in your possession, right? Which is safer and why? Are there other ways to invest your money in precious metals? Would you sink all of your money into it? Where would you monitor the price of your investments? I’ve also heard that the price of silver is dependent moreon manufacturing demand than any of the other commonly traded precious metals. Would gold or some other metal be a wiser investment?
Price inflation may not be all too aparent in the next 9 months. Prices may remain flat or very gradually creep upward, so slow it may not be obvious. I would imagine that College tuition will go up in price if Obama programs subsidize and stimulate college programs. Otherwise I’m not sure why college tuition will go up. Monetary inflation or gov’t programs surely won’t let tuition fall in price. I’m willing to bet that professors won’t be getting any pay raises any time soon either.
Precious metals (gold & silver) are only protection against mass inflation & panic. It won’t necessarily protect you against say a 5% or 10% per price inflation rate. Prices are too volatile. Also, a time horizon of a couple years may be a little risky for a substantial investment in gold, considering price is volatile and gold cartels are always interfering in the price of gold on the COMEX. If you got $10,000 then maybe buy one ounce or maybe two but I probably wouldn’t buy more. Silver is even more volatile in price than gold, therefore I’d prefer gold to silver for short term horrizon.
The only other bet I can think of would be to diversify your dollars into other currencies. Again, there’s no sure bet of how rapid things will happen. If your future bills will be in US dollars then maybe your safest bet is to keep most of your money in US dollars.
Thanks so much for your response! Right now I have around $120,000 of savings. I’ve been working since May of last year, and I expect that amount to grow steadily. If that helps give you any better idea of how I could best invest or whatever, then I’d be glad to hear about it!
You’re probably right about tuition and such. I didn’t think about that other than to worry what Obama’s programs might do to the cost of tuition in our college industrial complex. Also, now that I think of it, I doubt rent will go up, it might go down. I’m sure food prices and all that will, but that’s why I am saving to such an extent so that I have a buffer against rising food/gas prices for the 4-5 years I plan to be in college.
I’ve definitely got a lot to consider from your post. I really appreciate the info! Maybe I’m just worrying too much.
I think the best thing to do, from everything I have seen, is to diversify. You should by some gold and/or silver. You should buy at least a year’s supply of food. You should buy some guns. When the hyper inflation hits, those will become pretty valuable. I would look for some “stable” stocks. You can google “most reliable stocks”. You should also invest in some foreign stocks. CD’s of course are good short-term investments. Most likely, you should try to get a hold of Peter Schiff.
Peter Schiff and Europacific Capital is a good strategy, but for a longer term horizon. There’s no telling what will occur in the next couple years. But long term his strategy may protect your live savings.
With that sum of money I would put maybe $30k in precious metal. You could buy stock ticker GLD or IAU but there are counter party risks associated with these. Tickers CEF or GTU I believe are safer but may have a higher premium. Bullion in the form of 1oz bars or even 1oz coins are safe. You won’t be blowing the full $120k in the first year or two of college and therefore there is less risk in having to sell gold to pay tuition in the future.
I’ve bought bullion at www.apmex.com
Remember, any money you make off the sale of gold is taxed at 28%. If you own gold ETF’s (ie: GLD symbol) then you will be taxed that amount. If you got gold bullion then maybe you are able to sell the gold to a friend (and therefore delay the payment of taxes by honestly reporting your sale/profit on a later year’s income tax?).
Gold, silver, and platinum bullion! thats how you preserve capital! It’s as simple as that.
Email me for information Maxxsocher.spykermetals@yahoo.com