Years ago I worked with an older guy who was Jewish. We became very good friends professionally ( we both worked for IBM at the time) one of his pieces of advice which still sticks with me was. You got to invest we do. 1/4 in gold, 1/4 in shares,1/4 in real estate,1/4 in cash it’s simple formula and easy to remember.
Not sure I agree that gold is useless most of the time.
I can't identify a single event where gold ownership has bailed me out of a bad situation... and yet gold has outperformed every other asset class this century.
Seems your friend bought gold for the wrong reason... it's not a reliable way to make a quick buck.
Gold is like insurance. You really don't want things to be so bad you have to use your gold, just like you have homeowners insurance but hope you never have to use it.
I almost laughed out loud. He owned crypto, but felt buying physical gold was "doing nothing". Gold is insurance for economic upheavals. As JP Morgan stated in Congress in 1912 (and this is often misquoted) "Money is gold, and nothing else." All fiat currencies eventually collapse because once politicians understand they can simply print more money, they will. Some of the best years of our country was when we were on a positive gold standard, with gold coins as money. Thanks so much, FDR and Nixon, for destroying our solid economic foundation.
Years ago I worked with an older guy who was Jewish. We became very good friends professionally ( we both worked for IBM at the time) one of his pieces of advice which still sticks with me was. You got to invest we do. 1/4 in gold, 1/4 in shares,1/4 in real estate,1/4 in cash it’s simple formula and easy to remember.
Not sure I agree that gold is useless most of the time.
I can't identify a single event where gold ownership has bailed me out of a bad situation... and yet gold has outperformed every other asset class this century.
Seems your friend bought gold for the wrong reason... it's not a reliable way to make a quick buck.
Gold is like insurance. You really don't want things to be so bad you have to use your gold, just like you have homeowners insurance but hope you never have to use it.
I almost laughed out loud. He owned crypto, but felt buying physical gold was "doing nothing". Gold is insurance for economic upheavals. As JP Morgan stated in Congress in 1912 (and this is often misquoted) "Money is gold, and nothing else." All fiat currencies eventually collapse because once politicians understand they can simply print more money, they will. Some of the best years of our country was when we were on a positive gold standard, with gold coins as money. Thanks so much, FDR and Nixon, for destroying our solid economic foundation.
That is a perfect analogy for owning physical gold or silver
Please share the name of the young Broker you use thanks
Peter