Silver and Gold Investing is a BAD Idea?! Dave Ramsey Says THIS About Gold and Silver is a video discussing whether silver and gold is a good or bad investment. Many within the stacking community view silver and gold as an investment in oneself, not so much a financial tool to earn a return. However, many believe in the precious metals as a tool for savings and hedging against inflation. But what about some financial experts like Warren Buffet or Dave Ramsey? Do silver and gold enthusiasts have it all wrong?
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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
In the world of investment, there are various avenues to explore, with precious metals often catching the attention of investors looking for a safe haven. However, renowned financial expert Dave Ramsey believes that investing in silver and gold might not be the best idea. As per Ramsey’s advice, it’s essential to analyze his reasoning before making any investment decisions.
One of the primary arguments against investing in precious metals is that they do not generate any income. Unlike stocks, bonds, or real estate properties, silver and gold do not produce dividends or rental income. Ramsey argues that investing in assets that provide regular income is generally more beneficial in building wealth over the long term.
Furthermore, the value of precious metals is highly volatile. While gold and silver prices can surge during economic downturns or geopolitical tensions, they can just as easily lose value when the market stabilizes. Ramsey advises against timing the market and instead encourages investors to focus on options that provide consistent growth and income, as opposed to the unpredictable nature of precious metals.
Another aspect to consider is that silver and gold investments require storage and insurance. Physical gold or silver must be kept in a secure location, such as a safe or a bank deposit box, which may involve additional costs. Moreover, insuring these assets against theft or loss adds to the expense. These considerations further decrease the returns on precious metal investments and erode potential gains.
Additionally, Ramsey cautions against the highly speculative nature of precious metals investing. While some investors may be allured by the prospect of making quick profits during market fluctuations, Ramsey emphasizes the importance of long-term, stable investments. He argues that true wealth is built over time through consistent and disciplined financial habits, rather than trying to time the market for short-term windfalls.
Instead of silver and gold, Ramsey often advises investors to focus on a diversified portfolio of mutual funds, real estate, and stable stocks that have a proven track record of generating consistent returns. By following his recommendations and adopting a long-term perspective, individuals can minimize risks and optimize their chances of building sustainable wealth.
Ultimately, it’s crucial to thoroughly research and analyze different investment strategies and their associated risks. While some investors may opt for precious metals as a means of diversification or as a hedge against inflation, Dave Ramsey offers a contrasting view. Investors should consider his insights and weigh them against their own financial goals and risk tolerance before deciding on the best path for their investments.
I'd be willing to bet he owns like millions in gold lol.
I just want to know how to get one of those big Empire Precious Metals medallian thingys.
I am interested in collecting coins. I like that what I collect will always have value. A pokemon card, beanie baby, stamp, and whatever other collectibles do not have a value to them. Gold and Silver has a value but I would not invest in them long term. How do you argue with historic values of gold? We just recently got back up to the high point of where it was in the 80's then it crashed and was worth less than it was a century ago. If you are into buying short term and selling based on trends that is great but if you are going to have precious metals for decades as an investment I agree with Dave Ramsey. What is the argument against this? I have not heard one. If you want to invest a small amount in gold go for it but don't be shocked that others suggest other options. Certainly do not put all your savings into it.
Metals really arent an investment strategy. Its just a method of saving that keeps up with inflation. You'll never go broke but it wont make you rich.
Dave is an old man who couldn't explain why it would be a good idea to save boxes of worthless paper money. He doesn't understand using gold and silver as a hedge. BTW, I've had about $5000 stolen out of my bank checking account from online thieves over the past four years. He's a crank.
JUST SO YOU KNOW..SCREWTUBE IS DELETING USER POSTS…SO I WONT BE WATCHING YOUR VIDEOS OR POSTING ON THEM AGAIN
4:30
Buy silver at $22
if the price goes up, either hold your more valuable silver or sell and hold the cash.
if the price goes down to $19, you havent lost a DIME yet…UNLESS youre STUPID and cash out lmao….DONT DO THAT!
Instead, buy MORE silver at the lower price, which now brings your AVERAGE cost per ounce DOWN so youre total investment PER ounce is now lower than it was before.
now…
if the price goes up, either hold your more valuable silver or sell and hold the cash.
if the price goes down, you havent lost a DIME yet…UNLESS youre STUPID and cash out lmao….DONT DO THAT!
Instead, buy MORE silver at the lower price, which now brings your AVERAGE cost per ounce DOWN so youre total investment PER ounce is now lower than it was before.
now…
if the price goes up, either hold your more valuable silver or sell and hold the cash.
if the price goes down, you havent lost a DIME yet…UNLESS youre STUPID and cash out lmao….DONT DO THAT!
Instead, buy MORE silver at the lower price, which now brings your AVERAGE cost per ounce DOWN so youre total investment PER ounce is now lower than it was before.
lather, rinse repeat.
LITERALLY NO way to lose your money IF you do it right.
And unlike stocks YOU OWN your PHYSICAL metals. No one is taking it from you. ITs not going to just magically disappear like some stock that goes bankrupt.
And it only gets better from here.
This is if you only do silver.
Bring in other metals that are just as volatile (gold isnt), something like rhodium, and add that to the mix and you can seriously abuse the hell out of the system as a whole.
ie….I bought rhodium for under $1k / oz.
It went up to just under $30k / oz.
I didnt cash out, I had the dealer send me that much in silver value. lol.
38 years this year of playing this game. NOT ONE DIME lost to date. At least TRIPLE my $$$ on what I own every time I do cash something out.
its an EASY game if you are patient with it and play it instead of letting it play you emotionally
ramsey is full of feces.
THREE times now someone has stolen money out of my moms bank accounts.
she hasnt had it recovered.
So yes, Davey..people can and do have money stolen from their bank accounts pretty much every fkn day of the year lol
38 years this year Ive been into PMs. Havent lost a dime yet. lmfao.
I at least triple my $$$ every time I do cash out.
Im sorry, but Ramsey might be good for those with tons of money to invest and what stock to buy, but other than that , the man is a fkn gump. lol
He just makes blanket generalizations so much I want to pull out my hair and break down in hysterical laughter just listening to him.
HE THINKS cuz hes daddy warbux rich that that makes him the expert on every fkn detail lmao….hes not.
When you go to sell it there going to give you spot. If your real lucky plus a tiny bit. They don't care for first strike eagles from this mint or that or premium you paid there going to give you what less then they can sell it for
My research showed from 2017 to 2022 gold value increased by 4.30%. From 2010 to 2023 the increase was 3.7%. Overall, the return in both instances outperformed bank returns on savings. Gains, not losses as Dave Ramsey would have you believe. You are correct on being diversified in your metal holdings. Collectibles can increase in value while the spot prices drop. Good vid.
u always lose with gold and silver. Take a 1oz of gold or silver to any coins shop and they treat u like its a pawn shop/ Well golds is 1900 but i can give u 500. I gotta make money too. parmuph parumph parumph…..lmao
10k sitting in the bank you're gonna lose 1k per year. Fast forward 20yrs you will not lose with gold or silver. I'm trying to get 1,200oz -1,600oz silver asap.
Dave is right. Gold and silver don’t pay interest. CD’s do and they are paying up to 5% now. Don’t be foolish. Why are dealers so anxious to take your fiat money?
Imagine the economy completely collapsed and you have all this gold and silver thinking you will be fine and you go to sell some like everyone with gold and silver will do at the same time
In general, I respect Dave Ramsey and i believe he's on point with his recommendations and see his view points. I think it is wise to have a little gold and silver myself. I wouldnt have only that for retirement but it would be a slice of mine…
Dave Ramsey who !
Kids do more drugs and sell yourselves on the market it's skin so it always snaps bak
I disagree on this and also on not using credit card all together. Robert’s fan!
I disagree with YOU as far as buying Gift shop Gold and silver Coins… You will not get $3000 for that or any Boutique Coins… You can ask $50,000 if You want,,, You will not get it… When Push come to shove,,, You will only get Spot for those Bullion Boutique Gift Shop Coins that You Over paid for….
Screw Dave Ramsey. He is towing the line because he is exposed in their system, and has to keep the lie going.
It's a long term investment. Not a get rich scheme. I buy and will continue to buy.
Dave Ramsey is not all knowing. Gold and Silver have stood the test of time. Buying gold and silver is not going to make you a millionaire but there are good reasons to have some gold and silver if you are looking to protect your self as much as humanly possible.
Dave talking about identity theft and getting robbed from your bank account as some absurd impossibility is enough to temper any confidence you thought you had in him. Between increasing technological dangers to bank defaults, the bank account is anything but safe.
This video is incompetent. You have provided no data whatsoever to support your position. You agree or disagree based on what?