“Buy gold investments now,” said the creepy wall-street wolf in those old tacky looking infomercials. He wasn’t completely wrong. It was just his timing and form of investment that was way off. The basic rules of investing in anything is to buy low and sell high, duh.
A Little History
If you were watching closely after the market crashes of 1999, 2001, and 2008, you’ve probably noticed gold skyrocket at those times (times when sh*t hits the fan). Be prepared and don’t go rushing to buy gold then. Buy it now on the DL while prices are slipping or flat. I remember working at the bank as a teller in a fairly affluent neighborhood back in 2008 when the housing and stock market crashed. Customers would regularly come in during the year asking me how they could buy gold. “Gold securities?” I would ask. They would reply, “No, physical gold bars.” I hadn’t the faintest clue how to purchase a gold bar let alone the money at the time. I was more concerned about covering next month’s rent. Buying gold bars was actually illegal at one point You can check out the article by the Huffington Post linked below if you’re interested in a little history lesson.
Nowadays it’s as simple as pulling up a browser and searching ebay. I know! Ebay, right? Ebay has definitely become the bazaar capitol of the internet world. Don’t forget that gold prices fluctuate daily. Be sure that the retail price that you’re paying today is something you can live with. They are typically sold in 1oz bars, but you can always purchase solid gold coins or other solid gold items. Bars just tend to be timeless in terms of how it is recognized.
As of 2017 you may have noticed that the US is moving into a recovery phase which may or may not continue the decline of gold prices. You’re going to be playing quite the waiting game with this one, but it’s a solid investment (pun definitely intended).
When gold was illegal: http://www.huffingtonpost.com/steve-mariotti/when-owning-gold-was-ille_b_10708196.html
If gold isn’t your thing, be sure to check out the article series on trading options : http://dailysidehustle.com/2017/09/04/trading-options-beginners-part-1/