This Is Why You Should NOT Buy Gold In 2024

This Is Why You Should NOT Buy Gold In 2024

it feels like everybody nowadays is talking about buying gold gold prices hit new record highs in 2024 and in just the last 12 months gold prices have shot up by around 15% and Over The Last 5 Years gold prices are up around 80% and the craziest part of all of this is America is becoming more like India because Back in the Day in India you’d have ladies that used to go out to the jewelry stores and come out with all this gold that they want to buy nowadays you have your mom your sister and your cousins going to Costco buying the groceries coming out with a bar of gold as well but I want you to be smart here because the big sales pitch to entice people to buy gold is the world is going to end the Market’s going to crash we have this dollarization the dollar is going to collapse and the only way you can protect yourself and your family is by buying some precious metals like gold now just for full transparency I have been purchasing a little bit of gold every single month for a number of years now before it was cool to purchase gold but what I want to do today is talk about really if you’re thinking about buying gold or if you already own gold I want you to understand and look about it the right way which is what I want to talk about today so let me get my whiteboard and the best way to lay the foundation is just to look at how the prices of things including gold have changed in price over the last 50 or so years back in the year 1970 the median household income in America was around $8,700 fast forward to 2023 the median household income in America grew to $74,000 now let’s take a look at home prices in 1970 the median home sold for $23,000 but in 2023 the median home sold for $412,000 the Dow Jones in 1970 was hovering around the 5,000 point mark and by 2023 the Dow Jones was hovering around the 35,000 point mark but this is the real kicker an ounce of physical gold in 1970 was selling for around $40 and by 2023 it was selling in the range of $1,940 now of course it’s a range because 2023 isn’t just one day it’s a whole year but now what’s even more interesting is if you take a look at the percentage increase of all these things over the last 50 or so years household income has grown by around 87% the median home price has grown by around 1700% the Dow Jones has grown by around 600% and the price of gold has grown by around 4,800 over the same time period and what this shows us is that household income is not growing as fast as home prices and household income is growing nowhere near as fast as the price of gold relative to the dollar because now it takes more dollars to go and purchase that gold but there’s one little part to the story that most people will never tell you because most people will highlight oh my God take a look at this gold boom we’re talking about almost a 5,000% increase in the price of gold in the last five some decades but the prices of gold has been very volatile over the last five decades take a look gold prices began to Skyrocket in the early 1970s into the 1980s and then we saw this massive gold price crash where gold prices were crashing until they finally bottomed out around 2001 and then they’ve been kind of steadily Rising ever since I invest my money into five places I invest my money into my own business briefs media I invest my money into real estate rental properties I invest my money into stocks I invest my money into speculative assets these are things like startups that I invest and these are things like cryptocurrency and then I invest my money into physical gold now this physical gold that I purchase is not like my other Investments where I am looking for these Investments to go and produce value the gold that I invest in is kind of just there as doomsday insurance it’s a little bit of my portfolio it’s a 2 percentage piece of my portfolio because for me that’s an alternative way for me to save money if was to go out and save $110,000 worth the cash and then $10,000 worth of physical gold today my theory is that if I buried both of these things I buried the cash and I bury the gold in my backyard 10 years from now I believe that that gold is going to have more buying power than the $10,000 worth of cash because of what’s happening with inflation but I don’t look at gold as my investment I don’t look at gold as something that I’m monitoring the price of I don’t really care what’s happening with the price of gold I just buy a little bit of gold every month on autopilot and I own a little bit more of this physical gold but that’s really it and this is where now what I want to do is kind of break down some things that you need to understand if you’ve been thinking about buying gold and I also want to let you know on a little bit of a side that on May 21st at 8:00 p.m. eastern time I’m hosting a live free and virtual stock market Mastery Workshop where I’m going to be going over my own stock market investing strategy in 2024 because obviously 2024 is a little bit of a crazier Year we’re seeing the economy slow down we’re seeing inflation still hot we’re still seeing higher interest rates how should you think about investing your money in the stock market this here how can you find more opportunities I’ll be going over all of my own strategies of how to I invest into passive Investments and how do I look for undervalued stocks this is a completely free workshop and it’s live so yes you’ll be able to ask me questions all you have to do is register and if you’d like to join me on this Workshop I got the link for you down in the description below now if you’ve been thinking about buying gold a couple things that I want you to remember is why you are purchasing this physical gold and there’s a lot of confusion here because I hear a lot of people going out and buying gold nowadays thinking that this gold is going to make them rich but the reason people purchase gold isn’t so they can become rich it’s so now you have some sort of way to save or store your wealth gold is a store of wealth it’s a better store of wealth than the dollar because our dollar is losing value and this really accelerated after the early 1970s because in 1971 the United States dollar was taken off of the gold standard prior to 1971 if the government and the Federal Reserve Bank wanted to spend and print money they didn’t have it was kind of difficult because they needed more wealth in this case physical gold in order to go and spend money that you didn’t have well that didn’t last because in 1971 president Richard Nixon took the United States dollar off of the gold standard which meant the United States government had essentially infinite spending ability and the Federal Reserve Bank had the ability to essentially print infinite amounts of money now what that did is it made our money essentially paper it just made it a currency because before that our money was backed by physical gold we needed more gold to print more dollars after 1971 we didn’t we could print infinite amounts of dollars which which then created more inflation now what is inflation inflation is when you inflate the monetary supplies when you have more dollars out there most people assume that inflation is when the prices of things are rising but that’s not true inflation is when the value of a dollar is dropping which in turn causes the price of things to rise so when we’ve seen the prices of things rise over the last number of decades and over the last few years this is because the value of the dollar is dropping and this is directly due to the money Printing and spending of money that we don’t have I mean if you just keep printing more and more money the value of each individual dollar goes down causing the price of things to go up and so now you can print more dollars but you can’t print more physical gold which is why gold generally is a better store of wealth than paper now I am not a financial adviser I can’t tell you what to do with their money because I’m just a random guy on YouTube and I want you to understand that but understanding now when people think about purchasing gold the goal here is to own a better store of wealth however just like every other asset class gold has volatility too you saw after the 1980s there was a massive crash in gold prices that lasted decades and so you have to understand the gold prices don’t always go up there are factors that can make gold prices go down as well but over the long term if there is more inflation then that would generally make the price of gold more expensive relative to the United States dollar because you can print more dollars but you can’t print more gold secondly it is a type of Doomsday insurance this is the way that I look at gold as well that is a small piece of my portfolio because if everything were to go wrong the dollar were to collapse and everything goes wrong well it’s a type of insurance because gold has been a type of currency since before you and I were alive gold has been used in transactions for centuries now and people know how to value gold whether you’re in America whether you’re in India whether you’re in China whether you’re in Mexico people around the world know how to value gold and so because of that gold has that type of value but I don’t want you to go out and purchase gold think that this is going to be a way for you to get rich because remember gold isn’t producing any value I mean if you have gold and you’re selling it to a jeweler then sure they’re using it to go out and produce something or if you’re giving it to some sort of company that’s using it in electronics and sure it’s producing value then but otherwise gold is just sitting there in a vault looking back at you it’s not producing value like if you go out and invest in a rental property that’s producing value because now that’s giving somebody a place to live it’s giving a business and office so you’re producing value and if you can increase the value of the rental property you can also increase how much rent you can get likewise if you go out and you invest in a company or you start a company this company is working to produce a product it’s working to increase its value by selling more products to Consumers and so that’s working to increase his value versus your gold is just sitting there so I want you to think of your gold more as a way to save hard money than it is a way to get rich quick because when I think about buying gold I don’t even really monitor the prices of gold it’s just an automatic purchase for me that happens by itself and it’s on autopilot now the natural next question that everybody’s going to have at this point is okay that’s if I was thinking about buying gold how can I go out and invest in gold like do I have to go to Costco to buy a gold bar or do I go to a jewelry store how do I go and actually purchase gold and you got to understand that there are a few different ways that you can get exposure to Gold number one is you can invest in gold stocks on the stock market number two is you can invest in gold certificate number three is you can actually purchase physical gold now what I do is I purchase physical gold there are some platforms out there that are allowing you to set up an automatic purchase of physical gold and every time you purchase a physical gold bar they will ship you out a physical gold bar so it’s alternative way I guess for you to not go to Costco and purchase the gold bar you can just buy in smaller pieces but there are a lot of ways to get Exposure One Way is you can go and invest in gold stocks now what you’re doing is you’re investing in a company that’s going out and mining gold so I guess it’s an indirect way for you to go and purchase gold it’s not something that I do but some people do that but you got to understand now you’re investing in a company so you also have to take a look at the financials of the company you have to look at the executive structure of the company you have to look at the different things the company is doing so if you are interested in investing in stocks do you like the idea of investing a gold stocks that’s something that you can consider the second option that you can consider is you can invest in gold certificates there are funds out there ETFs index funds that are focused on giving you exposure to physical gold so now instead of you going out and investing and owning the gold you’re owning a certificate that says you’re getting exposure to that physical gold again it’s an alternative way for you to own gold and it’s a little bit easier because now you don’t have to manage the physical gold yourself but you don’t actually own any physical gold it’s kind of like owning a Bitcoin ETF versus owning the actual ual Bitcoin when you own the actual Bitcoin you own the actual thing when you own the ETF you own exposure to that thing I would rather own the physical thing which is why I like owning the physical gold myself now of course when you own physical gold you got to store it you got to keep it somewhere you could keep it under a mattress but then somebody could break in their house and steal that so you got to find a place to store it you can use a bank vault you can use a private Vault there are a lot of places where you can look out now for ways fore to store the physical gold yes it is an added cost yes it is added work but now what you have to decide is again what is your purpose for using it you’re not going to sit here and try to transact with a gold at least I don’t think every single day so if you’re not going to be transacting with a gold it’s just something that you’re going to be storing somewhere as a way for you to keep this now hard money somewhere safe that way if you ever needed it you can go out and access it now I know there’s a lot of people that are worried about where you keep your gold because they’re worried that the world is going to collapse the whole world is going to end and they say well if you keep this gold in a physical bank then the banks are going to collapse and they’re going to get you over here from gold and yeah I mean this is possible but you also have to understand now what is the likelihood of these things and at the end of the day I personally am a believer in the American economy I believe the American economy is the strongest economy in the world I believe that the American economy is going to continue to be the strongest economy in the world yes I believe we have issues we have issues on inflation we have issues in the economy we have a lot of issues in our economy but I still think that we are the strongest economy in the world we are the most competitive economy in the world I think we’re going to continue doing that so where would I want to invest my money at want investment money in America however I also want to have some insurance I want to have some protection just in case and that’s why I own a little bit of gold the bulk of my investments are into value producing assets primarily that are producing cash flow real estate stocks my own business that’s where the bulk of my investments are because I believe in the future of what this country has and the future of our economy but I also understand that inflation is a concern and I understand that there’s an alternative way for me to save money so as you’re thinking about now if you’re thinking about owning gold I want you to go about it the right way and not be one of those people that are sold into this idea of purchasing gold just because everybody is telling you that the dollar is going to collapse the economy is going to collapse the whole Market’s going to collapse and the only way that you can save your money is by transferring all of your money your life savings into physical gold you got to sell your stocks and buy gold that’s not something that uh I doing when Spotify comes out and they announce that they’re going to raise prices for their services for the millionth time what happens well naturally it makes their customers very angry because now I have to pay more money to listen to stuff on Spotify but on the other end of that same coin that very same news is making somebody very rich you can see how this triggers people

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