Gold & silver are swinging like a pendulum back and forth over their respective places in the markets. One day gold drops $30 only to rebound $36 the next. Silver has a similar story at a smaller price point. The talking heads are trying to be the next prophet of doom & gloom or call the exact price of metals on Dec 31 with the accuracy of a Vegas bookie. Everyone wants to be right and has the perfect strategy to to give you double digit returns.
At the Mind Your Money blog we try to be objective and give you all the information needed to make an informed choice. While we do believe gold & silver will show gains for the year, we don’t believe that is why you should acquire metals. Our belief is simple: Build a Tangible Asset Portfolio (TAP) as financial insurance on the rest of your net worth. Conservatively, 10% to an aggressive 20% of your net worth should provide liquidity during any major financial crisis like the one currently in Greece.
Develop a financial plan, that includes regular investments in stocks, mutual funds, bonds, along with rare coins & precious metals to diversify your over-all portfolio. This diversification will be the savior of your financial future. Don’t get caught over exposed to any one area because like every Enron employee or IndyMac investor you will be stuck with investments of worthless paper. At the very least, your TAP will be filled with shiny metal with which you will be able to acquire desperately needed goods and services.
Procrastination gives birth to future regret! Stimulate your personal economy by starting or adding to your TAP today.