I must confess I jumped on the gold bandwagon rather late. I wished I would ever done it long ago. After I heard suggestions to get gold, I always 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't afford gold. I've dedicated to buying 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 making money I will keep doing that, but when they're losing money, I get out until they're making money again. I hold cash until a bull market returns, then I have the money to buy near the bottom, when stocks are inexpensive.
When I put my money into gold, I do not feel the loss if the price diminishes, since I still have the gold I purchased. I enjoy possessing the coins I buy and know that they're an investment in the future. I know I can sell them (I think) once the time is right, to profit.
When I was a young adult in the 1970's gold was $35 an ounce, where it had been since the 1930's. I had no motivation to purchase, even though I can pay for it, since it didn't go up in value. That's still true today. Gold doesn't rise in worth. It holds its worth while our government devalues our money.
During the 1990's when gold was $300 an ounce and that I was making much less cash than I am now, I saved $300 per month. Whenever a friend suggested purchasing gold during that time, my reply was "I can't afford it".
Today, with gold ranging in cost from $1600 to $1800 an ounce, I am certain I should be buying all I can get prior to the cost rises more. I am not in the financial position to purchase an ounce of gold each month, so I've made the commitment to purchase fractional denominations. In hind sight, obviously I wish I would been astute enough to begin purchasing gold a long time ago. I'd be wealthy right now.
During the last 40 years, gold has held its worth much better than silver. Gold has had a stable increase in worth, due to fiat money printing since the U.S. stopped the defacto standard in 1971. Over time, gold continues to increase in value as opposed to dollar.
Currently, I earn more money and genuinely can't afford gold. I've dedicated to buying 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 making money I will keep doing that, but when they're losing money, I get out until they're making money again. I hold cash until a bull market returns, then I have the money to buy near the bottom, when stocks are inexpensive.
When I put my money into gold, I do not feel the loss if the price diminishes, since I still have the gold I purchased. I enjoy possessing the coins I buy and know that they're an investment in the future. I know I can sell them (I think) once the time is right, to profit.
When I was a young adult in the 1970's gold was $35 an ounce, where it had been since the 1930's. I had no motivation to purchase, even though I can pay for it, since it didn't go up in value. That's still true today. Gold doesn't rise in worth. It holds its worth while our government devalues our money.
During the 1990's when gold was $300 an ounce and that I was making much less cash than I am now, I saved $300 per month. Whenever a friend suggested purchasing gold during that time, my reply was "I can't afford it".
Today, with gold ranging in cost from $1600 to $1800 an ounce, I am certain I should be buying all I can get prior to the cost rises more. I am not in the financial position to purchase an ounce of gold each month, so I've made the commitment to purchase fractional denominations. In hind sight, obviously I wish I would been astute enough to begin purchasing gold a long time ago. I'd be wealthy right now.
During the last 40 years, gold has held its worth much better than silver. Gold has had a stable increase in worth, due to fiat money printing since the U.S. stopped the defacto standard in 1971. Over time, gold continues to increase in value as opposed to dollar.
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