This Market Is Booming!
Alright I know what you are thinking...
"Tony what the hell are you talking about? Do you have any clue? Right now "the market" is tanking? Don't you watch CNBC? Get a grip the dow is around 12,000? Where have you been? What are you smoking????"
Well I will tell you what I am smoking- GOLD! That's right the shinny stuff that they stockpile at Fort Knox. When I say "this" market is booming I am referring to the gold/silver and precious metals market. Not "the market" (aka the dow) which most people commonly refer to.
I have been tracking the price of gold for the past 3 years and have been investing in gold for the past 2 years (when everyone was hyped on RE). Where did I learn about this underreported asset... from my mentor Robert Kiyosaki and The Rich Dad Company. As a matter of fact so can you if you visit www.RichDad.com and view his predictions for 2008. So far he has been right on the money (pun intended!).
You can purchase physical gold in the form of coins and bullion via companies like www.Monex.com however you may offset your gains due to insurance and storage costs. For the common investor, like myself, I prefer to hold the majority of my gold holdings via an exchange traded fund such as GLD. Even though Gold is at an record highs, I still believe that it is a good time to buy gold as a long term hedge over the next few years.
The larger lesson to keep in mind regarding this post is that when someone asks... "How is the market doing today?" The intelligent investor will ask- What market are your referring to? The dow, the nasdaq, the RE market or Wegmans?
If you are looking for a great way to increase your financial literacy so you to can become an intelligent investor they remember to join us for our monthly Cashflow 101 Game night.
Have fun, learn about money & network with other likeminded people. To learn about our upcoming game night be certain to visit www.LehighValleyBusinessCoach.com.
To your success!
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