The Hidden Secrets To Building Wealth
The phrase the rich get richer has been proven true time and time again, but not in the way you might think. In fact, it’s because of the rich that others can make their way into the same financial position. This is because those who are wealthy know how to start new businesses, invest in real estate, save in the right commodities, or learn how to build a profitable business from scratch—but they didn’t always know these things; they had to learn it somewhere along the way.
Why Have We Been Told That Gold and Silver are Bad Investments?
It’s easy to believe what you hear when you don’t do your homework. Financial experts tell us over and over again that gold and silver are bad investments because they aren’t liquid enough in today’s fast-paced world. But isn’t liquidity one of those things that has always gotten people into trouble?
What I Learned From Investing in Gold and Silver
Investing in precious metals like gold and silver is an excellent way to build wealth, especially if you follow a few simple rules. Here are a few things I learned from saving in gold and silver that could help you get started on the path of building wealth for you and your family. It’s important to note that some people simply buy bullion as an investment; whereas others elect to purchase rare collectible coins or bars of pure bullion — something known as numismatics. Either way, there are many reasons why investing in precious metals can be one of the best decisions you make for your future!
As more and more people look towards alternative investments like gold and silver, many wonder whether or not they should invest.
The truth is that everyone’s situation is different, but there are a few questions that you can ask yourself to see if investing in precious metals might be something worth considering for your future. Here are three great questions to ask yourself:
What do I need to achieve financially?
Do I have a plan in place for what to do with any extra money I have?
How well do I manage my finances now?
When Is The Best Time to Buy Physical Precious Metals?
Answering that question can be tricky, but it all comes down to how you look at investing in precious metals. If you’re looking for short-term investments—something that can give you a fast payout so you can make another investment—then buying gold and silver as quickly as possible is probably not a good idea.
However, if you’re looking for something with staying power and long-term value (and yes, it does exist), then being patient is key. The best time to buy depends on what you’re trying to achieve. Understanding these goals is critical to building wealth. The right education can go a long way with helping you achieve your financial goals. Whether you want to become financially independent, or just save enough money for retirement, an abundance of online resources are available to help get you started. You don’t have to figure out everything on your own; take advantage of free tools like Investopedia's Beginners Guide to Precious Metals or The Everyday Persons Guide To Gold And Silver.
If you are one that prefers videos, Mike Maloney's Hidden Secrets of Money will give you a wealth of information to better understand money, currency and what options are best suitable for you to consider. "Money vs Currency - Hidden Secrets of Money Episode 1" (courtesy of GoldSilver (w/Mike Maloney) YouTube channel).
Why Should We Save in Precious Metals?
Precious metals, like gold and silver, have maintained their value for thousands of years. They are also very affordable in today’s world, especially when compared to currencies around the globe that have rapidly depreciated due to inflation. This makes precious metals an attractive investment option to help you build wealth over time. It’s certainly not a guaranteed strategy—many experts say it is better to invest in index funds or stocks that pay dividends—but it is a viable way to grow your investments without taking too much risk on a volatile stock market.
There are lots of other factors involved in deciding whether precious metals should be part of your financial strategy; if you decide they make sense for you, there are some important questions to ask yourself before investing:
How much can I afford to invest?
Where will I keep my metal coins?
And how do I sell them down the road when I need cash?
These answers will depend largely on what type of metal you buy, how much of it you invest in, and where you plan to store it.
If You Don’t Own Any Gold, Should You Start Now?
If you’re concerned about a future economic collapse, one of your best options is to own gold and silver. However, if you’ve never owned any before, or have never even considered buying gold or silver, then where do you start? Educating yourself on the benefits based on your wealth building goals is an important factor.
Purchasing gold or silver from a reputable company that also offers in-depth education, money back guarantees and ones that have a 'physical' location are highly recommended.
As I've mentioned many times before in live presentations, I highly encourage everyone to do your homework and also check with the Better Business Bureau before making any purchasing decisions or membership agreements.
Gaining the knowledge and understanding of what your short and long term goals are and how precious metals (gold and silver) can shape them is the first step. Staying consistent and saving monthly is the second step to creating a more secure financial future.
As intimidating as it may seem for some, there are companies that give you the option to control how much and how often you save and give you complete control without having to go through a broker or hire someone to do it for you.
Moving forward "The Vault" will be sharing an in-depth look on gold and silver as we take a closer look at Mr. Maloney's 'Hidden Secrets' video series.
As always my very best to you for continued success and happiness in life!
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