Gotta say, I agree on this one...
Robert Kiyosaki
Investing: Assets That Are Lifeboats in a Shaky Future
As retirement nears, millions of Baby Boomers are scrambling for deck chairs on the Titanic. For about 30 years now I have been watching a major financial disaster developing. Its contributing factors include the shaky financial foundations of Social Security and Medicare, compounded by most Americans' lack of financial education and entitlement mentality.
As a result, my investment strategy is to get out of anything that's "paper with ink on it." I explain what this means and what investments I favor later in this article.
Today, I invest in assets with tangible value, especially assets that go up in price as the dollar's purchasing power sinks. Today, I have large positions in gold, silver, and oil.
For the small investor, I believe buying silver coins is a safe bet. As the dollar drops, silver will hold its value or go up. I don't recommend buying coins for numismatic value (rarity). A friend has his son buy one silver dollar a week instead of saving money in the bank. As I write this, that's worth about $12 a week. He keeps the coins in a safe-deposit box. It's not big investing -- but it's a great habit.
In today's economic environment, it's better to save silver than to save paper with ink on it, and that includes cash, mutual funds, stocks, and bonds. If it seems unpatriotic to short the dollar and other forms of U.S. paper, then buy a few U.S. silver and gold coins. While I'm bullish on America, I've been very bearish on our dollar for years.
March 07, 2006
The "Rich Dad" guy says it's panic time - head for safety with gold, silver and oil
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4 comments:
Beware the Wall Street version of ETFs. Much of the holdings in GLD are "backed" by futures contracts or even derivatives. When the s#!t hits the fan, they will be worthless. CEF (Canadian) is a much better play if you don't want to hold physical metals.
i started a real estate coaching class through rich dad ,just a bunch of bs (recieved a refund). He doesn't know anymore than anyone. Bottom line if you want to make money in real estate get in early and look for rentals that pay the mortgage on a fixed loan and leave after a bills are paid at least 10%. Only place to do this in the west i have found is utah. If investing for appreciation with ajustable loans, io or whatever the big bullshitter at the loan office tells you, your taking a risk like las vegas with a loan.
"Today, I invest in assets with tangible value, especially assets that go up in price as the dollar's purchasing power sinks. Today, I have large positions in gold, silver, and oil.
For the small investor, I believe buying silver coins is a safe bet. As the dollar drops, silver will hold its value or go up. I don't recommend buying coins for numismatic value (rarity). A friend has his son buy one silver dollar a week instead of saving money in the bank. As I write this, that's worth about $12 a week. He keeps the coins in a safe-deposit box. It's not big investing -- but it's a great habit."
A couple comments: Silver and gold pay no interest and actually costs money to keep (like this kid paying for a safe deposit box). Gold and silver bacially did nothing for 20 years. That is a lot of missed ROI.
Also, many. many gold/silver bugs basically want the US economy to go way in the tank so their investment will pay off big time - but not so much in the tank that people will just kill them and take their gold/silver or there is nothing to buy in the supermarket. That is something very risky to wish for.
PS - I have about 10% of my investments in gold.
Doesn't about 50% of global demand for silver come from film photography? And what's the future for that? Yeah right.
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