I have some ideas on how to save your accumulated wealth\stored labor and protect your purchasing power over the long term :)
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I have some ideas on how to save your accumulated wealth\stored labor and protect your purchasing power over the long term :)
Does it have to do with gold? Wild guess, I know!!
Do you recommend people buy actual bars and coins of gold to hold? I know there are some stocks on the normal stock exchange that fluctuate with the price of gold, but I imagine that could still crash with the market.
Oh man you have no idea what you just started! :) .... short answer, no I would definitely not own any ETFs (exchange traded funds) linking to the gold price. No bueno. Probably a good idea to own some actual allocated physical metal through Goldmoney (a publicly traded company). Think of it like a bank account but instead of dollars you actually own physical gold in vaults of your choosing around the world. Fully allocated, 3rd party audited, insured, and redeemable, meaning you can take possession of it if you wanted. Also, you can own in incremental amounts, even just a few dollars with. Having a few coins in your possesion isn’t a bad idea either. I think its prudent to do both. Goldmoney also give you a MasterCard in which to spend the gold with, and you can also transfer it and make payments with the gold. I’ll have to send you some more info :) ... wait this was the SHORT answer???
Wow, that video did a really excellent job of explaining Goldmoney. It’s pretty amazing that the precious metals are physically stored and redeemable at any time. Not to mention that it makes it easy to buy gold on any level of investment.
Thanks for sharing! I’m glad I know more about this. Especially since I’ll be sporting the shirt. 😉
Do you see your account value rise and fall as the price of gold fluctuates, or does it stay stable based on the price you purchased it for?
The value of the account does fluxucate over the short term yes and that is reflected in your balance. However..... gold is money.... not considered to be an investment but savings itself. Gold will not make you rich, but it will keep you from going poor. Over long periods of time gold outperforms every currency. This means that your purchasing power will be protected. So only allocate to gold what you wish to be protected in the future.
Thanks for clarifying. That makes a lot of sense to transfer long term funds that you want to stabilize to an asset like gold.
It’s really cool that you are working with an organization that you are clearly so passionate about. 😊
YEAH! Bring in the charts! That’s a lot of green... mostly in double digits. Pretty cool to see that info all in one place - especially because it spans a worldwide market.
I’ll have to scroll back through your blog and find some of your t-shirt tour posts. Sounds fun!
This is great to know. I need investments that I can get into with small amounts of money and add to them over time. Goldmoney is absolutely worth checking out. Thank you