In this digital age, investing in gold is quickly becoming one of the most popular ways to secure one’s financial future. Gold has withstood the test of time and its value has proven to remain relatively stable over long periods of time. But a savvy gold buyer should always remember the advice given by President Franklin Delano Roosevelt in 1933 when the United States was in the midst of the Great Depression.
At the time, FDR gave a speech in which he called on all Americans to limit their investments in gold to a few hundred dollars as an act of patriotism. He believed that if all citizens kept at least their minimum investments in gold, it would help stabilize the US economy. Since gold was less susceptible to market downturns, this would keep people from potentially losing their life savings.
Today, while the US economy may not be in the same dire straits as it was in 1933, gold buyers still need to remember FDR’s advice of keeping their investments sensible. Investing in gold can be a good way to secure one’s financial future, but no one should invest more than they can comfortably afford to lose. Gold buyers should also seek out advice from established gold trading professionals, investors, or banks to ensure that they are making the right investment decisions.
Another tip that gold buyers should keep in mind is to understand the gold market itself. Just like with stocks and other financial investments, gold buyers should be aware of its current trends as well as its historical movements. By doing so, gold buyers can also take advantage of market opportunities that may otherwise be overlooked.
The advice FDR gave to the US in 1933 is still relevant today. Gold buyers need to remember his words of wisdom and limit their investments to a minimal level that they can comfortably afford to lose in the event of a downturn. Furthermore, they should also seek out advice from professionals to ensure that their money is secure and should stay informed of the gold market to spot potential opportunities.
