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09-06-2012, 11:27 PM #1
Dave Ramsey's view on gold as an investment
I have recently read ttmmo and listened to the program on CD and found I agree with almost everything, except for the view of precious metals as an investment. I thought the example of using Katrina as a failed economy very weak. It was a disaster, but the dollar did not fail, there was not hyperinflation, etc. I have been buying silver and gold for years prior to learning about Ramsey and the return has been pretty epic. Way more than the inflated 12% projected from the stock market.
I would like to hear some other opinions on this. I just don't see how metals are any riskier than stocks or money market accounts. I am basically on step 6, but I am investing more than the suggested 15% since everything is on sale.
- 09-07-2012, 08:55 AM #2
- Rep Power
Over time, precious metals track equal with inflation. Yes, right now gold prices are high (in which case, I would slow down my buying) but the prices you're seeing now don't remain stable. He is right that precious metals are only really needed in times of total economic collapse - in which case silver is a better commodity than gold, IMHO, because it can be broken into smaller increments - so the difference just lies in whether or not you think that is a possibility. Dave Ramsey doesn't believe the economy will collapse. Others disagree. Look into investing in copper, too - like copper wire or copper tubing. That will be very valuable in times of an economic collapse, too. And it is to easy to pick up a small roll of copper tubing when you're at the hardware store.
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