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Here’s What Poor People Don’t Know About Gold
Monday, April 15, 2013 4:04
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When gold fell $125 an ounce this past month, did you react like a wealthy man or a poor man?
The difference between the two reactions is huge.
If you picked the right one, chances are good you’ll make money as a long-term investor…
For many years, I’ve urged people to own gold and silver. I’ve helped thousands of Retirement Millionaire readers make the right precious-metal investments. But I’m an unusual owner of gold and silver.
You see, I think 99% of gold and silver owners are all wrong in the way they view their holdings…
Most folks buy gold and silver and hope they’ll make a fortune on it. They listen to “doom and gloom” gurus who claim gold prices are about to explode. Or while watching right-wing television shows, they see commercials promise to make them rich in gold and silver.
So when gold and silver decrease in value – like they have recently – the average precious metals owner stresses out. His “big trade” isn’t working.
Again, I own gold and silver… and I urge you to do the same. But I take an unusual approach to my holdings. I hope I lose money on them.
I look at gold and silver the way a homeowner looks at his insurance policy. A homeowner buys insurance against disaster and hopes disaster never comes. He hopes he never has to cash in his policy.
