It's gonna be a while, but I've now opened a savings account just to put money towards a Powell Flute. I'm hoping to invest in some savings bonds and double my investment after 5 years. I'm still hoping to sway my parents in letting me use some high school education money they set aside, because due to certain circumstances, my high school tuition is now free. Hopefully this goes well!
Good choice Andrew! Of course I am so biaed when it comes to a Powell. When you do get it, try a Nagahara head on it, that combination is awesome! Good luck sweety!
AndrewB. Is there a minimum required amount for that type of investment? I think you need to have at least a few thousand dollars for these high gearing stuff. There are other ways to grow your money in a more realistic sense, ask your parents. Some people I know who has excess US dollars are now buying into other currencies.
But I salute your attitude in life. It's a great start, I mean saving up for a new flute.
By investment do you mean the savings bonds? Its really quite easy. I receive them as gifts all the time. You buy the savings bonds for certain amounts, so you can pay 100 dollars, and in 5 years it doubles to 200 dollars, because basically you are lending your money to the government and they pay interest.
Yes, you could buy into foreign currencies, but as I understand it, these are even more risky than some stocks from upstart companies that could be gone in a week. I would tend to steer away from them, but that's just me. Anyway, congratulations, Andrew! Powells are mighty fine instruments (They aren't for me, but they're still nice.). Are you looking at a vintage Powell, or a new one?
Most likely new, and as much as I'd like one of the higher handmade ones, I'll probobly get the signature. The signature sounds fantastic, but the only thing I don't like is the lack of options.
Sorry AndrewB I misunderstood you when you say savings bond. There are bonds (normally issued by company nearing financial distress) that when redeemed pay very high interest rates.
It did not occur to me that you might be referring to US Treasury bonds. Yes this is secure if my assumptions are correct.
My point about currency is plain and must not be taken as any form of advise. It's a mistake I mentioned that. Anyway I was referring to currency trading. I mentioned people with excess US dollars and I mean just that. This form of investment, which takes a lot of form- from high to low risk, can be beneficial to those who have more budget to gamble and who are adept to changes. I managed to buy things when I was your age just by moving portions of my savings around investments (through my dad). So by assuming that we are the same person, I apologize.
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And Flutist 106. I do not understand the kind of currency investment that you mentioned above.
Yeah, if you're happy with the way the Signature plays, it's not really worth it to spend the extra $1200 (which is just the flute, without the head) for a Conservatory, especially considering that the only additional option is the C# trill (which usually costs around $600).
FLutist06- Thats true about spending the extra money. I think once I have enough money, the signature will be more than enough. The C sharp trill does sound nice though!
It is nice....In fact, it's my favorite option, and my favorite key, but I still wouldn't pay $1200 for it. Maybe you'll upgrade again at some point in the future, and then you can get it.
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When you do get it, try a Nagahara head on it, that combination is awesome! Good luck sweety!
