Reply to I told you to buy gold months ago

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[quote=Anonymous][quote=Anonymous]My mom said she bought $250k worth of Gold in 2024. I asked her how much that gold is now worth and she said she didn't know? My mom never invested in the stock market. She will give you all kind of arguments why it's a bad idea lol. Her investments are only in real estate (rentals) and gold. Before she made the $250k purchase in 2024, she had been buying gold for years.

I think some people prefer to invest in assets they get touch and see every day.

My mom said even if $1 turned into a $1 million, she will never buy stocks. She is just one those people with very rigid views of investments.[/quote]

I never had that much to buy gold but I'm like your mom.  I am just uncomfortable with stocks and more a control freak and feel like I can better choose specific investments like real estate over a fund with assorted stocks. I've always felt the stock market is just legalized gambling.  I prefer playing poker v blackjack :)

This is not to say I have zero stocks but I prefer investing in what I know and am comfortable with which I think is a logical approach.

Ultimately you must diversify.  Investing some in everything is the surest way to success by hedging your bets.

This all being said, precious metals are an umbrella in a rainy day.  The better they return the more messed up the world is :) so to invest totally in gold means you believe the world may be going to hell!  You can't time the market of course so realistically, the world will always have certain times it gets into a hot mess like now! But if we are all going to have a life, gold will fall.

So, you buy metals when all is right in the world for times like now where anything goes.  But you have to diversify and see this time as a short term streak with the approach of getting ROI and diversifying.
I would sell most of my gold within this next 12-18 month and make that big profit.  Things will even out and when they fall to the hundreds, buy the umbrella again to use in the future :) 
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