PeachyDay asked:
Hi,
I am really worry about the inflation of USD.
So I am thinking of turning the USD i have into gold coins. I am not sure if this is a good idea.
Its more for safety than profit. But with gold being at $930/oz, I dont know if I will lose money if it go down again?
But then, I might also lose money if the USD get inflated.
So I am not sure which I should do. Invest in gold? or not?
Thanks
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{ 6 comments }
many people have been murdered all for the greatnest of gold..ill pass
Don S is right – forget gold right now. It’s at one of the highest prices ever. If you buy now, you stand a very good chance to lose a good chunk of your money.
You’re better off to fund a diversified retirement account. If you’re in the US, look at IRAs, especially Roth IRAs if you qualify. I would find 2 or 3 index funds with very low expense ratios, and invest in those. Index funds cover all sorts of sectors of the market, so you can get some diversification by picking different sectors.
Don S is right. Gold has been one of the worst long term investments. It has done well over the last couple of years, but right now it is close to the same price it was at 30 years ago. In the last 30 years, gold has returned about 0% while the stock market has returned about 1000%. Ther is no guarantee about the future, but stocks have historically done much better. If you are worried about the US economy, you might try a highly rated international stock fund. If you really want some exposure to gold, put a small % of your money (not more than 5% or 10%) into a gold or precious metals mutual fund.
Forget it. your too late!!!
I can’t believe you are getting such bad advice here. Gold is a great long term investment. I’m going to post a link to an expert who explains it better than I can. The key is that gold is safe from inflation.
Some experts say that gold will be dropping by the end of the year. Source: