Should I put $50,000 Into Precious Metals to Protect It?
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LEARN MORE ABOUT: Precious Metals IRAs
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
REVEALED: Best Investment During Inflation
We are all aware of the current state of the economy, and many of us are considering ways to protect our hard-earned money. One option that is gaining popularity is investing in precious metals, such as gold and silver. But is this the right choice for everyone?
The answer to this question depends on several factors. First, you need to consider your current financial situation. If you have a large amount of money and are looking for a secure investment, then investing in precious metals may be a good option. Precious metals are considered a safe-haven asset, meaning that their value tends to remain stable even during times of economic turmoil.
Second, you need to consider your risk tolerance. Investing in precious metals is not without risk. Prices can fluctuate, and there is always the possibility of losses. Therefore, if you are not comfortable with taking on risk, then investing in precious metals may not be the right choice for you.
Finally, you need to consider your investment objectives. Are you looking for short-term gains or long-term growth? If you are looking for short-term gains, then investing in precious metals may not be the right choice. On the other hand, if you are looking for long-term growth, then investing in precious metals may be a good option.
In conclusion, investing in precious metals can be a good option for some people. However, it is important to consider your current financial situation, risk tolerance, and investment objectives before making a decision. If you do decide to invest in precious metals, make sure to do your research and understand the risks associated with the investment.
I hope Dave Ramsey is wrong
Well, does a metaphor of stealing work in the context of a central bank hyperinflating the currency?
Just because its a "theory" doesn't mean its not valid.
It’s crazy how well a consensus forms in the comments of the area where Dave is extremely ignorant or has a globalist mindset and worships at the altar of the dollar.
It’s legal. It’s not conspiracy theory. If you put your cash in the bank, you are an UNSECURED LENDER to the bank. Which means, if something bad happens to the bank, your money doesn’t belong to you.
Now, the probability of that happening is low. But it’s still there. We don’t know what can happen in desperate times. But we have seen bail ins happen in Europe, Cyprus specifically.
An allocation to precious metals is a very smart move. Anywhere from 10-20% of your net worth in metals is fine. It’s an insurance policy.
Sometimes return of your capital is more important than return on your capital.
he makes 120k+ in tampa. he should already be out of debt.
So glad I did NOT listen to Ramsey and purchased precious metals from 2014-2018 which are now worth nearly double what I paid. (see my channel for inspiration)
That's one thing I don't agree with Dave Ramsey. Some precious metals is a good idea. Dave wake up
Put it in Cryptos not metals
I just paused to say, he ain't gonna like Dave's answer. "Unpause"
Precious metals is the place to be to protect and preserve your wealth in these ridiculous times.
Yes
Id you lived in Russia a few weeks ago, your buddy would have given you great advice.
Pay attention to Canada and Russia. Your bank account can just be turned off as soon as you're out of favor.
Mayb an individual(s) might not walk in etc and steal ur miney from a bank but, u firget that is he feddies are up to that exact scheme.
This guy is Scottish. How embarrassing that a fellow Scot can be so dumb.
So then why do banks protect their own money using precious metals?…
He's wrong
Go half and half metals and cash. Everything in life is a risk but look around you. Your gas, groceries, medicine, insurance, everything is going up weekly. The dollar has been dead since 1971. The petrol dollar that replaced it is on life support. Very soon that too will be gone. Research the oil deals that have been happening between Russia and the largest oil producing countries on the planet. Also think about how every country on the planet is watching these sanctions on Russia. The worlds reserve currency is suppose to be just that not a weapon. I have great respect for Mr. Ramsey and have used he's financial teachings but I don't understand why he has always been against metals.
Inflation is the thief his friend is referring to.
"I listen to you all the time."
* proceeds to demonstrate no comprehension of any of Dave's basic advice/baby steps *
Dave 'inflation is a conspiracy theory' Ramsey
CONSPIRACY FACTS
Putting a small percentage of your net worth in precious metals is not a bad idea, but if you have debt, that should be taken care of first.
Precious metals is a good thing to have just to hedge against inflation. But no more then 10 percent of your net worth.
The dollar is a joke. The best investment is black mail agaisnt a politician.
Who's here from WSS?
For the caller to say he's watched the show for a month, but then to call with these questions makes me think otherwise.
I have plenty of customers that have had their checking accounts hacked . Its actually pretty common
Protect it? Protect it from what? LOL
Yeah. Go get real money. Go get gods money and leave this fake fiat dollar
This will not age well
Avoid debt. Cut cost. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. I have purchased growth stocks this past few weeks. I'm going to sit back and observe how this plays out, adding more at a time. My investment strategy with my F,A Rita Wildrin Mora gives me the best returns even during recessions. Its been a year of steady growth.
Canada freezing accounts never say never Dave
I flipped a condo in 2006, making exactly $50K. It then went into precious metals, which sold for $130K in 2011. Since the S&P broke even during that same time frame, sometimes it makes sense to be a whackadoodle during a financial crisis.
Dave is wrong. Can he really be that blind on what's going on in the world right now? He must be a CNN believer.
Dave’s answered this before. He’s also not perfect. If your home is paid off, you have a fully funded food bank, and your 401k is set, then start dumping into precious metals that you can hold.
Lead is good protection