From the very first pay check one receives, there is spending and there is savings, the savings are usually divided into short term savings and long term savings with the short term savings accommodating short term goals such as buying a car, getting and education or even getting your nose fixed with plastic surgery. Then there is the long term savings, which usually involves buying property or paying for childrenâ€™s education or even starting up a business.
However, when it comes to long term savings many people make the mistake of nurturing their savings with paper currency without realising that the money that they are earning now, will not have the same purchasing power after 10 years, and despite the small interest that your savings earn you via the bank, in general savers lose as the longer their money stays with the bank, the smaller the value of each dollar while the bank takes your money invests it somewhere and double your money, they keep on average about 95% of the money they made from your money and give you 5 % and they never say thank you, in fact they somehow always manage to get even that measly 5 % they gave you initially.
So how do you manage long term saving? The answer is to save it in physical solid gold bullion.Â Keeping long term savings in gold or silver, palladium, or platinum is a complete andÂ proven savings strategy.
For instance it is totally lawsuit proof based on the fact that gold is never on the books with regards to financial accounting although gold is the â€˜Real McCoyâ€™ of money. Regardless of how old the gold is or which part of the planet it was mined from, gold along with the other precious metals is a permanent and trusted measurement of value. It will never be deemed worthless as each ounce of gold on the planet comes with an enormous amount of man hours put into mining it giving it value than cannot be offset to zero.
Another factor is that, gold is actually the only universal currency as everybody accepts is as payment, some currencies are not even accepted at foreign banks, because some paper currencies are nothing but worthless paper outside of its own borders. The point of savings is to not lose your savings, or be vulnerable to currency deprivation that could turn you into a popper overnight.
Gold retains its valueÂ no matter what and thus having gold as savings is without doubt if not the better long term saving option â€“ it is the only valid saving option.
Even central banks buy and store gold, because they know that the paper currency that they themselves print will eventually lose its grip as a value store and the only real value will be held by the precious metals pantheon, much as they did eons ago.
Saving your earnings is one thing, protecting it from the forces of economics is entirely another thing and the only shield that we have to protect long term savings, is by turning it into gold.