Inflation rates are at their highest levels in America since the early nineteen eighties. While many people choose to ignore the financial markets and focus instead of socking money away in a savings account, the time has come when that is no longer possible for Your Gold Investment.
Inflation is a normal part of the economic system and should be expected from year to year. Typically the inflation rate is about one to two percent, which means that it will cost you about one percent more to exist at the same level in subsequent years.
But now these levels are rapidly approaching ten percent. Average citizens are outraged because they feel that this is too high to endure, especially as wages continue to remain stagnant in many industries across the country. Click here for access to a calculator to help you figure out how inflation will affect you.
With so much uncertainty, many people are feeling scared, overwhelmed, and even angry. They feel the financial walls closing in on them. The salary that they were barely able to get by on is now not enough.
Investments in the stock market have long been promoted as a way to get ahead and make money passively while you do other things. It has long been touted as a way towards long-term wealth acquisition. Even when the market is down, many financial advisors say to keep your money in the market because, when it inevitably rises again, so will your cash flow.
For many, their trust has been broken. Government officials and the media told us two years ago that if we returned to work even before there was a vaccine for the Coronavirus that is would help save the economy, but we are now learning that that wasn’t the truth. In spite of the sacrifices that the average American made in order to keep things running smoothly, there is no financial reward in it for them.
So where can you go and what can you do when the word of the authorities no longer holds any weight for you?
If you’re here, you are probably interested in investing your money into gold. Gold is a common security much like copper or tungsten. But unlike these other metals, an investment does not mean that you necessarily need to invest in the stock of the security.
Instead, you have the option of purchasing the metal itself and using it as a way to store your capital until such a time as you need it. Many people are choosing this option because it operates entirely separate from the US economy. The value of gold is not calculated in terms of the US dollar but instead on its own merits.
If this sounds attractive to you, there are a few things you should know before you decide to jump in and get started.
Storage for Your Gold Investment
One of the biggest issues with investing in gold is that of storage. Gold is large and heavy, and any substantial investment will mean that you will end up with quite a large store of the metal on hand. This poses a few problems.
First is the space required to house your gold. As you invest more and more into precious metals, you may quickly find that it surpasses any excess space you have in your home to store it. It can be unwieldy and even dangerous to leave around the house, where it could cause a slip, trip, and fall hazard if not stored properly.
With any other collectible, you could easily solve the problem by adding a shed or other storage container onto your property. With gold, however, you would not want to trust a building that isn’t totally secure. It would easily become a target for interested vandals.
Instead, you will want to find a facility that is large enough to house your investment even as it continues to grow. There are a few different options for this. You could choose to take out a safe deposit box at the bank, where it will be guarded at all times and only those with the proper keys will be allowed access.
Of course, this method can be expensive. It can also be unattractive to people who are interested in distancing themselves from the financial establishment. They have lost a lot of trust from the public in the last two years, as we have already discussed, and as such are not always seen as the best guardians of our wealth.
A safety deposit box does not offer any of the normal protections or advantages that a traditional savings account would offer, such as an interest rate on the money being stored there or protection from the government.
All these things and more are driving people towards making investments through private companies. These companies also offer round-the-clock security and so much more.
Startup Costs
Investing in gold is a little like starting a business. You should expect to pay up front in order to make your transition from paper currency to precious metals.
These costs include the cost of storing your metals.
Just like you would pay a financial advisor to look after your stock portfolio, so should you expect to pay for the experience of your gold advisor. These people are there to help you make the best possible purchases of metals in order to maximize your investment potential.
Many gold investment firms are one-stop-shops, so to speak, in that they connect you with your advisor and also will provide storage.
Getting Started
Before you begin your journey into the world of precious metals, you’ll want to be sure that you are doing business with people who are truly going to provide you the services they promise. You’ll want to check out reviews online before committing to a partnership with any one company. These reviews are easy to find. Click the link: GoldSilver.com to check out an example of one such review. It is clear and simple to read.
Any investment requires a little risk and a lot of research. Make sure to do yours today!
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