Why Does GOLD Make Financial Planners Shriek in Horror?
Date: 2020-12-10 18:11:41
The look on the broker’s face was priceless. He tried to remain stoic, but I saw the fleeting look of shock in his expression. Along with a bemused look that signaled his educational pedigree was insulted. He was reviewing my investment portfolio. He was indeed surprised—but what he said next didn’t surprise me.
“You’re taking way too much risk. Physical gold? What good is that going to do you?”
A dozen rebuttals ran through my mind, most of which our readers can recite, but I didn’t say anything. With his lack of understanding, what would be the point?
It was 2005, and I had been buying gold and silver bullion coins, along with inheriting a little more, so it was a sizable portion of my portfolio at the time. I also owned some common stocks, but like some investors I was getting uneasy with the real estate bubble, the vulnerability of the stock market, and the growing levels of both government and consumer debt. It seemed time to play defense, especially with how giddy many investors were, so I’d lightened up on those considerably.
The broker naturally disagreed, I’m sure partly due to the fact that he earned little to no commissions on gold. His income came from selling stock and bond investments, so we shouldn’t be too surprised that that’s what he recommended. (And yes I work for a bullion dealer, but this all occurred long before I joined Mike and GoldSilver).
So here’s what has happened since that meeting in December 2005, to his stock and bond recommendations vs. the gold and silver I decided to focus on. Read the full article here: https://goldsilver.com/blog/why-financial-planners-shriek-at-my-portfolio-heres-my-6040-allocation/ Download Mike’s best-selling book for free here: https://pages.goldsilver.com/freebook Thanks for sharing and clicking that ‘Like’ button. For those wondering why our videos don’t appear in their subscription feed immediately – we release our clips to our free weekly email readers first, then later we publish to YouTube. Sometimes it’s just hours, sometimes it’s a couple of days later. This is to encourage people to join our free newsletter – because one day, we may not have YouTube to rely on. Join our free newsletter list by going to https://goldsilver.com/ and entering your email address in the ‘Get Market Alerts’ box at the bottom of the page. As always, thank you for your support. M.
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