If you're like me, you's been hearing all those 'gold' radio ads, haven't you?? Did you know that gold is a PRECIOUS METAL. And there are several ways and benefits YOU can invest in not just the beautiful yellow metal, but silver, and platinum...three of the most popular PMs (precious metals for short!! ;-). Give me a couple of minutes, and I share with you how I am protecting my wealth, as well as making money, thanks to PMs.
How can you invest in precious metals? Now, you don't HAVE to have gold bars in your house to own gold...although many folks do! Can you imagine having a stack of gold bricks in your closet?? In my dreams! Well, maybe one day ;-). I have chosen to invest in precious metals in two different ways. Here are three easy ways to get into the PM investing arena...
1) Purchase the physical metals. Yep, you could be one of those who has a stack of gold bars in your house. Or bags of silver coins. Just MAKE SURE you have them safely stored. I don't do this because I don't have a safe, secure way to hide them, and for my personal situation, it's just not practical. But many people do this. Physical metals are called bullion.
2) Purchase PM stocks through what's called an EFT.
This is how I have nearly 30% of my retirement funds invested right now, one gold EFT and one silver EFT. These funds allow folks like me to invest in precious metals without having to have them. But you MUST read the prospectus of the EFT...some funds don't actually have all the metals stored, but instead are derivative focused, etc. Avoid them. Quality EFT’s exist out there; you just have to do your homework before investing.
3) Invest in precious metal junior mining companies.
If I had some cash lying around, THIS is where I'd put a majority to work. They're called 'junior' because they get their financing through outside sources. Their stock prices can almost literally shoot through the moon overnight. Can you imagine a 300% increase in two days?! It happens. And if you do your due diligence, it can happen to you too.
How can you invest in precious metals? Now, you don't HAVE to have gold bars in your house to own gold...although many folks do! Can you imagine having a stack of gold bricks in your closet?? In my dreams! Well, maybe one day ;-). I have chosen to invest in precious metals in two different ways. Here are three easy ways to get into the PM investing arena...
1) Purchase the physical metals. Yep, you could be one of those who has a stack of gold bars in your house. Or bags of silver coins. Just MAKE SURE you have them safely stored. I don't do this because I don't have a safe, secure way to hide them, and for my personal situation, it's just not practical. But many people do this. Physical metals are called bullion.
2) Purchase PM stocks through what's called an EFT.
This is how I have nearly 30% of my retirement funds invested right now, one gold EFT and one silver EFT. These funds allow folks like me to invest in precious metals without having to have them. But you MUST read the prospectus of the EFT...some funds don't actually have all the metals stored, but instead are derivative focused, etc. Avoid them. Quality EFT’s exist out there; you just have to do your homework before investing.
3) Invest in precious metal junior mining companies.
If I had some cash lying around, THIS is where I'd put a majority to work. They're called 'junior' because they get their financing through outside sources. Their stock prices can almost literally shoot through the moon overnight. Can you imagine a 300% increase in two days?! It happens. And if you do your due diligence, it can happen to you too.