Does Dave Ramsey Recommend Gold?
Many financial experts, such as Dave Ramsey, caution against investing in precious metals. He considers these investments too risky and volatile; therefore, most people should focus more on saving or other dependable assets instead.
Suze Orman, another financial expert, cautions against commodity investments like gold. However, many still wonder whether or not investing in gold would be worthwhile.
Gold bars and coins provide a simple method of investing, but this investment approach comes with additional expenses such as storage fees, insurance premiums and transaction or markup costs that must be considered before investing. It’s crucial that investors understand these fees prior to purchasing physical gold.
Even with its costs, many investors view physical gold investment as the optimal solution. Gold serves as a safe haven in times of economic instability and inflation; during inflation-hit 1970s when precious metals such as gold provided average annual returns of 35% annually.
Physical gold can be an excellent addition to a comprehensive investment portfolio, but it’s essential to remember that everyone’s financial circumstances, investment goals and risk tolerance vary – the right type of gold for one investor may not necessarily be suitable for another.
Futures or options contracts
Physical gold or bullion investment can be an excellent way to diversify a portfolio, but you must do your research prior to making any purchases. Precious metal salespeople sometimes employ scare tactics in order to convince older investors to liquidate stocks and transfer them into self-directed IRA accounts in order to buy gold and silver at a steep markup that may or may not be disclosed by salespeople.
Though gold can outperform the stock market during certain times, it’s wise to conduct thorough research before opting to sell shares and invest instead in gold. This is especially important during recessions or bear markets when stocks typically outperform gold investments.
Dave Ramsey often disdains investing in gold, yet diversifying investments should include it as part of an overall portfolio strategy. For those considering purchasing it themselves, Atlanta Gold & Coin Buyers offer valuable guidance during this process with our precious metal experts on hand to offer guidance throughout.
Exchange-traded funds (ETFs)
Dave Ramsey regularly mentions gold investing on his broadcasts, yet isn’t particularly fond of it. Instead he advises avoiding speculative investments and saving your money instead. In his view, stocks and real estate offer better returns.
Gold investments provide a safe haven and hedge against inflation. But investors must remember that precious metal prices may fluctuate significantly from month to month – though over time these recover.
Commodities are highly risky investments, and only invest what you can afford to lose. Suze Orman advises limiting yourself to no more than five percent of your portfolio invested in commodities – such as gold – so as not to spend your days worrying over price fluctuations; investing instead in more reliable assets such as real estate or 401k can help you reach your financial goals faster.
Investing in bullion
Bullion investments provide an emotional way to purchase gold, since you can touch and see it first-hand. Unfortunately, owning physical gold has its own set of disadvantages such as storage and insurance costs and no dividend payments to depend upon for profit-making; additionally, physical gold may lose value over time without proper protection measures in place.
Personal finance expert Dave Ramsey recently wrote an article that explained why investing in precious metals like gold and silver may not be wise, since the U.S. dollar no longer relies on being backed up with gold as its value source.
Though some of his claims may hold some truth, it’s wise not to rely solely on him when making investment decisions. Instead, educate yourself about the gold market and consult a precious metals expert such as those found at Atlanta Gold & Coin Buyers before investing. There can be numerous advantages associated with precious metals investments – they provide protection from inflation while offering long-term growth potential.