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I did the math and found that if I had purchased gold every month for the last 35 years with my 401K money instead of investing the money I would have been ahead by $250,000 dollars at retirement. And when I figure taxes into that I would been another $250,000 ahead.
If I had to do it all over again, that's what I would do.
Of coarse, all the financial experts would not get their cut and the government wouldn't get their tax dollars.
You can cherry pick many times and places to show that gold outperforms stocks long term and vice versa.
You could invest in gold starting in 1964.
The most important date is the day that gold stopped being pegged to the dollar and allowed to find its own price which was in 1967. Since then gold has about doubled the increase that the DOW and the S&P have.
I am not saying its the best choice to hold gold all the time. Just like its not the best choice to hold stocks or any other asset all the time. However, to say its the worst investment ever is dumb.
Well, most seem to be downers on gold. I purchased some physical gold in 2002. I spent around $3k of a bonus I received from work. My wife was pissed. I sold them when it was around $1600 each for my Krugerrands. Funny how she didn't remember she was pissed after taking that $20k for something she wanted. I think I did well for holding something for about 10 years in my dresser. Wished I sold when they were over 1700. but I thought it would reach $2k and that was when I was planning on selling.
I can't believe you thought "hiding gold in your dresser" was a wise choice!
You can cherry pick many times and places to show that gold outperforms stocks ...
The most important date is the day that gold stopped being pegged to the dollar and allowed to find its own price which was in 1967.
gold stopped being pegged in 1974 when Nixon closed the "gold window."
gold stopped being pegged in 1974 when Nixon closed the "gold window."
wrong, it couldn't be owned until 1975 . ,1975 was the first year it was legal for the public to own gold here . when it was decoupled has nothing to do with when you could have bought it.
"n 1934, Roosevelt proclaimed the confiscation of the gold held by the banks (Gold Reserve Act: in exchange for gold certificates that could not be exchanged for gold!)
This law remained active in the USA until 1975, a few years after the dollar’s value had stopped being linked to that of gold. "
wrong, it couldn't be owned until 1975 . ,1975 was the first year it was legal for the public to own gold here . when it was decoupled has nothing to do with when you could have bought it.
No, you're wrong.
You could buy it in the form of old US coins.
If you bought a common-date, circulated condition coin, the premium wasn't particularly dear.
If you are picking a year to price your gold investment, there is no reason to limit it to 1975 and later.
Last edited by IDtheftV; 09-08-2015 at 01:21 PM..
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