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Gold and precious metals
Posted on October 26th, 2009 No commentsI’ve had some questions regarding precious metals lately and here are my thoughts.
The argument for or against gold is neutral from my point of view. The most important element of my opinion is a function of sequencing.
1. Get out of debt (Spending Plan)2. Put 10% – 15% of gross income into a protected vehicle (savings)3. When you are in a position that risk will not cause harm, then invest.Gold is an investment and it appears to be a good investment, but then so did many things 2 years ago. Real Estate seemed like a great investment for decades. The important aspect isn’t whether its good or not, but whether its a risk you can afford.
By following the sequence with exactness, it’s impossible to get hurt, stress is reduced, anxiety doesn’t exist, and risk is eliminated.