Acquiring precious metals is just one piece of financial plan

Is gold right for you? To help answer this question you gotta look at 5 broad areas:

1. Income
2. Asset acquisition/management
3. Asset protection and liability protection
4. Leverage
5. Information (be prepared to exit or move to another asset class at the right time)

1. Income- you gotta first have money to buy gold. So, if you don't have money, it may be best to make it before you buy gold.

2. Asset aquisition/management- Now that you have income, you can buy gold right? Only if you follow the pay yourself first principal. You gotta be able to pay yourself first by buying gold (or other assets) before you pay your mortgage, your car loan, food, entertainment, internet, phone, vacations, etc.

3. Asset protection and liability protection- Another are to consider is asset protection. What is the use of having gold if you lose it. You gotta make a plan not only to buy gold, but you also gave have a rock solid plan (and process for improvement) to keep it and prevent it from being stolen. And I don't just mean stolen from burglers. I mean from being stolen by the government and even own friends, family, or business associates.

4. Leverage-Just following the first 3 areas can lead to a prosperous life. However, to take it to another investment level, consider possible leverage plans to be able to acquire even more gold. What do I mean by leverage. You can think about acquiring gold through the use of other people, other peoples money, and other people's time, and other creative means.

5. Information (be prepared to exit or move to another asset class at the right time)- Gold is money. However, it does not mean you can't lose money. People can and will lose money if they don;t know what their doing. So in this area, you gotta decide if you are disciplined enough to educate your self on things like exit strategies for gold and buying and selling cycles for gold.

Comments

[buyer of structured settlement payment]

Thank you for sharing this post. I found it very informative and helpful. In these rough economic times, I am always searching for ways to make a couple extra dollars.

[gold ira roll over]

Fantastic work guys im a fan of your website.