How gold investing can benefit young people
With current unpredictability in the stock market and a poor 2022 performance in the rearview mirror, many investors may be looking for alternatives to grow and protect their money. As a potential recession grows in likelihood, the urgency to diversify one's investments becomes more crucial.
Fortunately, there is at least one investment that can help protect your hard-earned money. This investment type is also usually strong during times of inflation and economic uncertainty. In the current market, it may be valuable to take a second look at gold.
There are multiple ways to invest in gold and a wide variety of people may benefit from the precious metal. But younger people, in particular, may seriously want to consider acting now.
Start by requesting a free wealth protection kit from Goldco to learn more about this unique investment opportunity.
How gold investing can benefit young people
For younger people looking for alternatives to traditional investments, consider these benefits of gold now.
It can diversify your portfolio
If your typical investments did poorly in 2022 then you aren't alone. Accordingly, it makes sense to reduce the chances of a similar outcome in the new year. You can do this by diversifying your portfolio with gold. By avoiding putting all of your eggs in one basket you can be better prepared for any market changes or developments that adversely affect your investments. Gold won't necessarily make you money (it's considered more of protection of your existing wealth). But compared to the trillions of dollars lost last year, protection and the status quo are better than continuing to lose.
Younger people, in particular, can benefit because they have more time to endure any market ebbs and flows whereas a significant economic development for older people could prove to be catastrophic for their money.
Younger people can explore their gold investing options with Goldco now.
It can help with inflation
Whether you're a young investor, an older investor or somewhere in the middle, the effects of inflation have been felt by all. Gold, however, is often considered to be a hedge against inflation.
One doesn't have to look back too far to see how this works. In the 1970s, the average interest rate started at around 5.84% but ended at around 14% in 1980. During the same period, NASDAQ shows, the value of gold actually increased from $35 a share to more than $800. And gold stocks are rising just a few weeks into the new year. So, if you want help with inflation then consider turning to the precious metal. Just don't go overboard (most advisers recommend limiting your investment to approximately 5%).
It's easy to sell
Unlike some other stock market investments with companies that are no longer appealing, gold and its corresponding value and interest have remained steady for decades. It's not an investment that will require much effort to sell should you ultimately decide to go down a different path. While some types of gold investments are easier to get rid of than others, there has generally been - and will likely remain - a consistent audience of buyers interested in gold.
So, if you're young and don't ultimately achieve the goal you're looking for with gold, don't worry. It should be relatively easy to sell when you're ready to move on.
The bottom line
Following last year's stock market performance, many investors are starting 2023 hungry for an advantage they can get. While gold may not be the cure-all many people need, it can generally be relied upon to help protect investments. For younger people looking for an investment that can diversify their portfolio and provide a hedge against inflation (not to mention being easy to sell), gold may be an option worth pursuing.
