Svnw688 said^^That's funny you say that. I texted my friend at Goldman Sachs (he's not my broker, but knows finance of all sorts well) and I was like "so is gold a decent option or not?"
He responded back, "let me stop you right there. No." (because he could see the dots indicating I was typing a follow up text.
I kept typing a few seconds and he wrote "No" again.
I thought it was funny, but the point was taken. It's not even an option on the table. Though to 2bNaked's reference to antique coins, my speculative hunch is that such an investment might be different than gold bars. Kind of like a piece of art. I just periodically give money and it gets "aggressively" invested. I've been happy.
(Though we're transitioning to a less aggressive/stock-based plan in anticipation of the 'correction' many people predict is on the near horizon (i.e., in the coming months).
Everyone has an opinion. Mr. Shark of course has his and without slinging insults like he does, I will simply say this.
Remember the last huge recession (many still recovering) when the stock market fell horrendously and the value of 401K plans plummeted if not completely wiped out.
Remember how Lehman Brothers Failed and even Berkshire said the economy fell off a cliff. The government pumped trillions to stem off financial collapse!!
Bush, gave hundreds of dollars to family's upon his departure and it was all a huge disaster!!
Many lost everything!! Banks foreclosed & failed, jobs lost etc. and it was at this time I sold some GOLD. I made bank!
I lost nothing!!!
Say what you want....hunch or educated guess but I won. Many lost. It will take them years to recover the losses of their land, homes and other assets. Markets crash and gold falls, however.......
I am active in the market and I like to think having a diverse portfolio is a good things. Some perform extremely well and others not so well. I am glad I sold my energy stocks just before the glut!! LOL
I say read up, know the institutions you transact with, be diverse and BE PREPARED!!!
It will fall again!! That we know right Mr. Shark?Mr. Svnw688
Physical GOLD ownership is not an easy play. You can make money in gold mine stocks and ETF's, yet they can be risky. Unless your good with this commodity knowledge it might be best to follow your Brokers advise. I have been good with it over the last 15 years in part because of some things I was taught . I will spare you the annoying graphs and data, but when you want safety and asset preservation many choose GOLD in uncertain times. At stake in a financial meltdown: $26 trillion?http://www.msn.com/en-us/money/markets/at-stake-in-a-financial-meltdown-dollar26-trillion/ar-BBlepc0