Reply to Husband want to convert all savings into gold

Forum Index » Money and Finances

Reply to "Husband want to convert all savings into gold"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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?[/quote]

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.
[/quote]

[i]Buy now, it's higher than ever![/i] is not the salespitch you tihnk it is.[/quote]

This is what happens to gold.  The people who buy it at its height lose out a lot.  The people who buy it low often don't sell it high because they think "this time it's different and it's going to keep going up...that dip was a blip I better buy more...etc." and basically it often acts as a security blanket---you just have some around (either physical or GLD etfs) so you never want to get rid of it.  It's fine as a less correlated asset and bit of security.  It can be okay as a speculative instrument if you're disciplined.  But it's definitely not put all your money in it.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics