Many people are being defensive about their investments and their finances, for very good reason!
We all hear about layoffs, early retirement plans and the lack of jobs and the slightly improving job picture. The numbers, percentages, statistics, corporations who have moved jobs to third world countries, using a politically correct term called outsourcing. What this means for the average hardworking person is that your finances need to be defensive, you need to protect your wealth and you need to save for the future.
They released a startling statistic about the number of homeless “children” in one US state last week. The number of homeless children increased from 2006 to 2011 by 45%. So how many children are we talking about? In that one US state, that number represents 31,000 children. Multiply that by the number of states with economic problems and the number of homeless children and it is a national shame.
While these vulnerable children are living “who knows where” , bankers who put the economy in peril are stuffing their pockets, corporations are raking in record profits and fraudsters are getting away with stealing billions from investors with little more than a hand slap.
Those of us who still have jobs are wise to change our priorities with strategies such as paying down debt, changing spending habits and saving as much as we can. The problem with saving is that the devaluation of paper currency can erode the value of your savings right before your eyes. The same money is worth less because it buys less, even if you put your money in the safest place in the world.
One way to prevent the erosion of your savings is by investing in a safe haven investment. I am talking about investing in gold or other precious metals. During turbulent economic times people put their money in gold or other precious metals to preserve their wealth.
Gold and other precious metals provide a way for you to preserve at least some of your wealth and have an insurance policy that you will be able to pay for the things that you and your family need for a secure future. You can also give to those who do not have security or a home, especially the homeless children this holiday season. Then focus on the security you need for you and your family.
As with all investments, know what you are buying. All investments carry a certain amount of risk. If you are buying gold, know the spot price and be sure you are only paying 5-20% over the spot price for your gold. Compare Gold Dealers now before you decide where to buy.