I’m not quite ready to go into full panic mode when it comes to the global economy, but things still seem pretty bad all over the world. I don’t have any investments to speak of (besides my home), and I’m very worried that my cash savings won’t be worth very much 10 years from now, let alone by the time I retire. So, I’m actually thinking of buying silver bullion bars to protect myself.
Many experts believe it’s better to have tangible goods such as gold or silver instead of just paper currency, and I’m starting to agree. I would buy gold if I could afford it, but since that’s out of the question, silver is the next best thing.
I don’t know enough about the precious metals market to jump in right now; however, after a bit more research I should be ready to decide one way or the other.
Hey,
Good thought. While I’m no authority on investments, I do know for sure that it is always good to hedge your risks by investing in different instruments. Having your own house is a big relief, but equally important is to have the following by your side –
Cash on hand for day-to-day expenses
Contingency Fund for those unfortunate days
Fixed income plans from Insurers or Mutual Funds
Gold or Silver (Bullion)
Exposure to stock markets for their growth and excitement
The good thing about Gold and Silver is that they are highly liquid investments and can be converted into cash easily. But the volatility in prices is extreme, similar to stock markets, and you MAY end up making losses if you HAVE to sell it for any emergencies.
You can look at investing in Gold via the ETFs (Exchange Traded Funds) route. That way you can invest in smaller quantity and still get the advantage of rising/falling prices.
Check this out – http://investing.money.msn.com/investments/etf-performance-tracker