Here I must clarify that making an investment in any asset such as gold or company shares carries a risk, and for this reason my main recommendation is that you invest money that you are not going to use in the short term or that you will not need for a long time gold ira companies, since in in the short term you can lose money because the price of gold always varies or fluctuates. That is to say that sometimes it goes down and other times it goes up, however, let us remember that in the long term the price of gold tends to rise.
Taking this into account, I recommend the following:
- First, I recommend that to invest in gold you learn, study and find out why you should invest in gold and how its price varies over time, in addition, learn the risks and advantages of investing in gold in the short and long term.
- Learn what the economic causes are of why gold is a good long-term investment asset and how its price can vary in the short term.
- Invest with money that you will not need tomorrow or the following month, or do not invest with money that will serve you to eat or pay debts this month. Remember that investing in gold carries risks and in the short term you can lose money.
- I recommend you invest in the long term, at the beginning we mentioned that it took gold 20 years to go from 200 dollars to more than 1700 dollars per ounce, however throughout all that time it had several price drops.
- Buy more gold always at price drops. I recommend that you always invest in gold when its price is falling to benefit from the subsequent rise and thus your investment has more profitability.
- I recommend investing in gold little by little, that is, if you start investing today with 300 USD, I would recommend continuing to increase the investment from time to time, for example, after another 6 months, buy more gold with another 300 USD. This will make you take advantage of compound interest and in many years you will be surprised at the profitability generated.