Central bankers around the world are buying up gold right now, so it could be smart to have some, along with some purchased land, and perhaps some crypto -- maybe somewhere near a 1:1:1 ratio (33% of your life savings tied-up in precious metals, 33% in owned land, 33% in the best crypto that you can find through your own research).
Yesterday we had discussion with my friend when we walked around the gold store and I think the main difference between gold, crypto, realities and land is the maintanace cost.
Currently many people invested in reality to buy hause for Airbnb or to rent it regularly. The difference between reality and gold is that you have to repair it, renovate and clean or furnish when someone rent it or when you live there. There is also tax every year on property, you have to maintain energy costs like heating and electricity. Also there is mortgage fee, reality fee and other costs when buying or selling.
Same is probably with crypto currency. Crypto has to be stored securely and you have to always update it and check if its not going to bancrupt. You need to maintain atleast Internet connection to be able to manipulate it and protect it. Also you have to always check, if there is some upgrade or alternative which could overcome the current crypto implementation (Bitcoin, Litecoin, atd).
In my opinion, gold is kind of maintanace free asset, they don't tax it, they don't control it via middle main and the gold just sits there. You don't need to repair it and nobody is taxing it or require upgrade in few years.
For me it seems like kind a nice thing, when you have regular work, family and just want to live without stress and make once per time pursche, it's most easiest way.
Should we buy more gold 🥇?
Central bankers around the world are buying up gold right now, so it could be smart to have some, along with some purchased land, and perhaps some crypto -- maybe somewhere near a 1:1:1 ratio (33% of your life savings tied-up in precious metals, 33% in owned land, 33% in the best crypto that you can find through your own research).
But that's speculation on my part.
Yesterday we had discussion with my friend when we walked around the gold store and I think the main difference between gold, crypto, realities and land is the maintanace cost.
Currently many people invested in reality to buy hause for Airbnb or to rent it regularly. The difference between reality and gold is that you have to repair it, renovate and clean or furnish when someone rent it or when you live there. There is also tax every year on property, you have to maintain energy costs like heating and electricity. Also there is mortgage fee, reality fee and other costs when buying or selling.
Same is probably with crypto currency. Crypto has to be stored securely and you have to always update it and check if its not going to bancrupt. You need to maintain atleast Internet connection to be able to manipulate it and protect it. Also you have to always check, if there is some upgrade or alternative which could overcome the current crypto implementation (Bitcoin, Litecoin, atd).
In my opinion, gold is kind of maintanace free asset, they don't tax it, they don't control it via middle main and the gold just sits there. You don't need to repair it and nobody is taxing it or require upgrade in few years.
For me it seems like kind a nice thing, when you have regular work, family and just want to live without stress and make once per time pursche, it's most easiest way.
Good points, all around.