In today’s society there is great concern about one’s financial future. Due to the rising the cost of living, many individuals live from paycheck to paycheck. Job loss and economic turmoil makes it very difficult for people to meet today’s financial obligations and the idea of saving for one’s future seems almost laughable. Most employers no longer offer pension plans so employees plan their retirement through employer-sponsored 401K plans. However, due to our nation’s economic downturn, 401K plans are consistently losing their value. Based on financial and governmental forecasts, social security will be bankrupt well before the first wave of Gen Y’s are eligible to apply for benefits.
All is not lost, however. Many Americans are beginning to take their financial futures in their own hands. One way to do this is to invest in bullion. Bullion, simply stated is a bulk of silver or gold. The mass can be shaped into bars, coins or ingots. Investment in any bullion should prove to be a successful venture, but gold bullion generally yields a greater return on the initial investment.
The price of gold continues to skyrocket in spite of the economic crisis. Unlike paper money, the value of gold bullion is not easily manipulated and therefore more insulated against the highs and lows of the volatile stock market. Since, the economic downturn, the value of gold has continued to increase.
Gold bullion is the first choice of most investors because it has an excellent rate of return. The bullion can be purchased as bars or ingots. An individual’s personal preference will dictates how to store the bullion. Some people have personal safes and/or vaults and prefer to store the gold at their home to avoid paying safety deposit fees to a bank. Generally, the best way to store the bullion is in a safety deposit box at a bank. Because most banks will insure the contents of the safety deposit box the individual will be covered even if they became a victim of theft. Conversely, to store the bullion at home could prove to be a costly mistake if an individual were to experience some to type of home disaster such as a flood, fire or robbery.
Investors should begin slowly, buying bullion one bar, ingot or coin at a time. This strategy will help to build a solid nest egg for retirement, one gold brick at a time.