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My 2013 Roth IRA investment

December 16th, 2013 at 05:41 am

I've decided to take a very non-traditional approach to investing my retirement funds. I will not be putting anything into index funds. Maybe when the accounts grow and I get more risk averse, I'll just buy a total market index and forget about it. For now, I plan on just picking good stocks in beaten down sectors.

With that said, I picked my stock for the 2013 contribution. Hecla Mining (HL) is a silver miner that has been around for 150 years. Great small company that has a cash cost of about $5 per oz of silver. Stock is currently trading at extremely depressed levels and the CEO of the company bought a ton of it recently and not many of the insiders have been selling. Only time will tell if this was a wise decision.

I've already started looking for a stock that I would like to own with the 2014 contribution. Looking at agricultural stocks and maybe commodity producers. Everything else just looks too expensive.

Posted in Investing | 4 Comments »

4 Responses to “My 2013 Roth IRA investment”

  1. Petunia 100 Says:
    December 16th, 2013 at 05:58 am 1387173482
    1387173482

    Best of luck to you with your picks, Card Trick. Smile

  2. TashaC. Says:
    December 16th, 2013 at 02:09 pm 1387202951
    1387202951

    Keep us updated on the stock! Maybe you will become an adviser!

  3. baselle Says:
    December 23rd, 2013 at 02:47 am 1387766847
    1387766847

    Good luck with the stocks. I pick dividend stocks exclusively and reinvest the dividend. Old school, but it works for me.

  4. cardtrick Says:
    January 11th, 2014 at 06:29 pm 1389464999
    1389464999

    A quick update. I discovered a much better "silver miner" that purchases the right to buy mine output at really low prices. So, they don't have to worry about the rising costs of mining etc. They're a $7 billion company and only have 25 or so employees. And over the long term, the stock has been going up vs HL which has a pretty bad looking chart. So, I decided to switch my investment over to Silver Wheaton (SLW). I will stick with this one till the end. No more switching around. I already feel bad about paying an extra $7.90 in commissions that I could have avoided by being a bit more patient.

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