When it comes to saving money, many people prefer to save a percentage of their earnings in man-made currencies. Even though this may seem like a good idea, you should bear in mind that these currencies are controlled and manipulated by central planners. Not to mention that in today’s age of technology, these currencies can be frozen and confiscated in a matter of seconds. That’s why you might want to start looking for another way to save your hard-earned money. Many people advocate saving in gold but is this a good idea? Here’s everything you might need to know in order to decide whether you should buy gold.
Saving
For thousands of years, gold has been the focal point for every prominent saver of wealth. This means all the central banks and those ultra-rich used gold in order to preserve generational wealth. They did this because they understood that unlike all the currencies, gold simply can’t lose its value. This is the case in 2017 as well, and that’s why gold isn’t treated as an investment but rather like a form of money. Therefore, many people decide not to gamble with currencies and central bankers. Instead, they choose to save their money by buying gold.
If you decide to save in gold, you’ll be protected from a systematic collapse. In case of such a collapse, you’d still have your gold that holds its value, which wouldn’t be the thing with currencies. This might also be the right time to mention that gold is considered to be the safest form of liquid money. This means your gold will help you cement your wealth over time, allowing you not to worry about its value like you would’ve in case you’d decide to save your wealth in currencies.
As a saving asset
While saving your money in currencies may not be the best option, doing it in gold definitely is. But what makes gold such an amazing saving asset? First of all, by buying gold you’ll be solidifying your assets which is something you should always aim at. Mainly because cash isn’t worth anything unless you have something to back it up with while gold is always going to hold its value. On top of that, if you decide to buy gold you’ll have something to pass on to your next generation like many people all over the world have been doing for ages.
It’s also important to mention that even if it may doesn't seem so, gold is actually more portable than cash. Take a look at it this way – if you want to move $200,000 from your bank account, you’d first have to give your bank a 72-hour notice about your withdrawal. Not to mention that you’d need a huge suitcase in order to carry all those bills. On the other hand, a $200,000 in gold is not much bigger than a standard VHS tape and can easily be carried anywhere.
Buying
If you decide to turn your savings into gold, you’ll have to make sure you get it for the best price. And in order to be able to do this, you’ll have to do some careful planning. First of all, you’ll have to think about how much money you want to spend. Saving in gold definitely is a good idea, but bear in mind that you’ll need to leave some cash for your everyday life. And even once you determine the amount of money you’ll be willing to spend, you still need to find a place where you can buy.
There are companies specialized in selling gold and turning to one of them is your safest option. Experts at these companies know exactly how much gold you can get for your money, and they’ll be ready to help you make the right decision. Also, they should be able to offer you different solutions when it comes to gold. For example, you can go for gold coins or you can choose to buy precious metals that are guaranteed to hold their value. When talking to a company that sells gold, make sure you prepare a list of questions you want to get an answer to before you make any formal bids.
The final word
As mentioned above, more and more people decide to ditch modern currencies and save their money in gold. Follow their example and you’ll manage to turn your assets into something you can let sit without having to worry about it.