Saturday, October 31, 2009

The Golden Rule

I'd say just about everyone thinks about money - from the poorest soul, to the world's richest person. It allows you to live comfortably, and it's one of the best motivators. How else do you explain you being willing to go through myriads of inconveniences (to put it mildly) just to get to that place called an office?

We're usually consumed by thoughts of how we can get more of it (either by doing more work, or by investing in something that offers good returns). But, how many of us think about how we can safely store it for use in times of need? I've been told that one of the best ways of doing so is by buying gold. Buying gold is often seen as a hedge against any sort of crises. The often given reason why buying gold is a good choice is that gold retains its value even when the usual monetary forms do not. After all, it's been used for ages!

And if you're like me, you would probably already have started a bit of that investment in gold - there's that gold ring that you may have as your marriage band, or that gold necklace that you wear round your neck, or those gold earrings. But, apparently you can also buy gold coins, actual coins made of gold, as a form of investment. These coins are sometimes referred to as bullion, but I think they refer to the same thing.

But, as usual, there's always the usual caveat: make sure you understand what your investment is all about and see whether it fits with your whole portfolio. Whether it be gold bullion or stocks, let your hard earned money do the working instead.


Nick Phillips said...

I'm hoping for a ton of gold to rain down on me so I wouldn't have to worry about money anymore ... LOL!

Perry R. Lim said...

Nick: Don't we all? :)

ALTing said...

won't it hurt getting hit by raining gold coins?? LOL!! but i guess the pain would be WORTH it yaa...