I have to admit I hopped on the gold bandwagon rather late. I wished I would done it a long time ago. When I heard suggestions to acquire gold, I usually say "I can't afford it". The reality is I could have afforded it back then, even on my salary.
Currently, I earn more money and genuinely can not afford gold. I've dedicated to purchasing a little each month anyway. Some gold is better than nothing. Over the long run, the month to month additions will add up.
I still put investment cash into stocks. When stocks are earning cash I'll continue doing that, but when they're taking a loss, I move out until they are making money again. I hold cash until a bull market returns, then I have the cash to purchase near the bottom, when stocks are inexpensive.
At The Time that I put my money into gold, I don't feel the loss if the cost lowers, because I possess the gold I acquired. I love owning the coins I buy and know that they are an asset in the near future. I know I can sell them (I think) when the time is right, to make money.
At The Time that I was a young adult during the 1970's gold was $35 an ounce, where it had been since the 1930's. I had no incentive to purchase, even though I can pay for it, since it did not rise in value. That's still true nowadays. Gold does not go up in worth. It holds its worth while our government devalues our cash.
During the 1990's when gold was $300 an ounce and that I was making much less income than I am now, I saved $300 per month. Whenever a friend suggested buying gold during that time, my response was "I can't afford it".
Now, with gold varying in cost from $1600 to $1800 an ounce, I am convinced I must buy all I can get prior to the cost goes up more. I am not in the position to buy an ounce of gold every month, so I've made the commitment to buy fractional denominations. In hind sight, obviously I wish I would been clever enough to start purchasing gold years ago. I'd be prosperous right now.
Over the last 40 years, gold has held its worth much better than silver. Gold has had a steady increase in value, due to fiat money printing since the U.S. went off the defacto standard in 1971. In the end, gold continues to raise in worth compared to the dollar.
Currently, I earn more money and genuinely can not afford gold. I've dedicated to purchasing a little each month anyway. Some gold is better than nothing. Over the long run, the month to month additions will add up.
I still put investment cash into stocks. When stocks are earning cash I'll continue doing that, but when they're taking a loss, I move out until they are making money again. I hold cash until a bull market returns, then I have the cash to purchase near the bottom, when stocks are inexpensive.
At The Time that I put my money into gold, I don't feel the loss if the cost lowers, because I possess the gold I acquired. I love owning the coins I buy and know that they are an asset in the near future. I know I can sell them (I think) when the time is right, to make money.
At The Time that I was a young adult during the 1970's gold was $35 an ounce, where it had been since the 1930's. I had no incentive to purchase, even though I can pay for it, since it did not rise in value. That's still true nowadays. Gold does not go up in worth. It holds its worth while our government devalues our cash.
During the 1990's when gold was $300 an ounce and that I was making much less income than I am now, I saved $300 per month. Whenever a friend suggested buying gold during that time, my response was "I can't afford it".
Now, with gold varying in cost from $1600 to $1800 an ounce, I am convinced I must buy all I can get prior to the cost goes up more. I am not in the position to buy an ounce of gold every month, so I've made the commitment to buy fractional denominations. In hind sight, obviously I wish I would been clever enough to start purchasing gold years ago. I'd be prosperous right now.
Over the last 40 years, gold has held its worth much better than silver. Gold has had a steady increase in value, due to fiat money printing since the U.S. went off the defacto standard in 1971. In the end, gold continues to raise in worth compared to the dollar.
About the Author:
If you want to find out more ways to start buying gold, make sure to go to this site below: ira to gold.