Husband want to convert all savings into gold

[Anonymous]

Do not do this. Gold is at a high, it will go down, probably if Biden is elected. Buy international stocks, real estate, 1-2% Net worth gold, equities and cash.

[Anonymous]

There are so many political types trying to sell gold, gold coins, herbal extracts and the like now. Almost all scammers.

[Anonymous]

He's crazy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Let's say your savings is around 500k and you invested it 50/50 into Silver and Gold On July 23rd.
Right now you would be sitting on $528,975. In fact, it is still trading up after-hours, so you between 4pm and now, you would be up another $13,500.

This is no doubt a once in a lifetime opportunity. Every day you don't act, you are missing out.

TSLA is up 50% within the last month. Another lifetime oppurtunity.

LOL. How dumb are you? Anytime you say X is up Z%, that just means you missed the boat. Go tell me what stick is trading well below P/E and I'll buy that. Either do real research and analysis or buy index funds. And anyone who either is dumb enough to buy all precious metals or dumb enough to let their DH do so deserves the end result. Just because you make more salary than the average American doesn't mean you can beat the market in the long run.

[Anonymous]

Buy stocks, buy real estate, buy bitcoin if you are worried about hyperinflation or collapse of the dollar. Gold is too illiquid and risky to store yourself. Plus the long term performance isn’t good. Gold produces nothing of value and will be too difficult to use in a true collapse scenario. Things like food, water, survival gear, guns and ammo will be more useful than stockpiled gold.

[Anonymous]

Anonymous wrote:Buy stocks, buy real estate, buy bitcoin if you are worried about hyperinflation or collapse of the dollar. Gold is too illiquid and risky to store yourself. Plus the long term performance isn’t good. Gold produces nothing of value and will be too difficult to use in a true collapse scenario. Things like food, water, survival gear, guns and ammo will be more useful than stockpiled gold.

You forgot the pint bottles of vodka and pet antibiotics.

[Anonymous]

BTDT, parked 50k in gold in 2010, just now got some profit. PPs are correct, if he is this worried then he should invest in ammo, not gold.

[Anonymous]

Did he ever hear the one about eggs and baskets?

[Anonymous]

Are you a gold digger?

[Anonymous]

I agree with him in theory, but 100% reallocation to gold is crazy. And I say that as a borderline gold bug. I’d get a big chunk out of US index funds and cash if possible (assuming you’re like most folks and that’s what you e got now), but don’t put it ALL in gold.

The same theory suggests buying dirt (real estate), Bitcoin and other cryptos, global equities and debt, and yes ammo. Frankly you could make an argument for cases of liquor and wine if you have an acre of underground storage handy.

[Anonymous]

Hey there, even though the forecast for gold is somewhat promising (at least here: https://goldtrends.net/ ), I would not risk it and invest life savings in gold. The most profitable thing you could do is invest money in a business that is already profitable, this is also the safest strategy. But again, this is the golden rule, the greater the risk the bigger the money! I suggest you to invest in gold only 30-35% percent of your savings, the rest of it can go on other causes. Best of luck and be wise!

[Anonymous]

Anonymous wrote:Hey there, even though the forecast for gold is somewhat promising (at least here: https://goldtrends.net/ ), I would not risk it and invest life savings in gold. The most profitable thing you could do is invest money in a business that is already profitable, this is also the safest strategy. But again, this is the golden rule, the greater the risk the bigger the money! I suggest you to invest in gold only 30-35% percent of your savings, the rest of it can go on other causes. Best of luck and be wise!

Yep, even though gold is not crypto, I would still not risk it all!

[Anonymous]

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

this sounds ludicrous to me, just the thought of it gives me anxiety. You need to hire a financial advisor, fee only not commission based. Someone who can talk sense into your DH.

[Anonymous]

No. Too many eggs in one basket.

[Anonymous]

I hope you didn't do this.

If you did this when you posted on 7/22/2020 and converted $100,000 into gold, the price drop from 1870.25 to 1,798.00 would have netted you a loss of about $3900.

If you had dropped that $100,000 into an index fund, using VXF for example, you would have made $60,000.

I guess none of that matters if the dollar suddenly collapses and we're back to bartering or whatever, but if he really thinks that the powers that be are going to let that happen, he's sitting in a weird grey area on the conspiracy/catastrophe spectrum.