Lately, I have been hearing this kind of news quite often, some even claim that they lost an amount of money from their bank account. Scary, don’t you think?
There's a saying 'don't put all your eggs in 1 basket'. That's the best advice I can think of in times like this.
Disebabkan duit pun tak berapa nak banyak, I have to pick and choose the best option that fits into my financial plan. Few investments that I try, ASB, unit trust, property, gold, stock market, crypto.
And here's why I think the gold investment is not suitable for me.
Not a Source of Steady Income
I make investments to plan for a source of income for my retirement life and for my children's education.
Gold investment is not the one made for these specific purposes coz when you invest in gold once and you sell the gold once, there is no continuous profit involved that flows into your pockets. Gold probably is one of the best hard assets but when it comes to investing for an income purpose, it is not the right basket.
Another reason is that, even if you see on paper or on the internet that the gold price is always increasing, but you need to remember, there is a selling price and buying price. The selling price is always lower and your price can stuck in between gor a long period of time before you can start gaining.
I give you a simple example:
I bought a 'virtual gold' last year at RM247.75/g, if you see that now the gold price has increased to RM250.51/g, but when you check the selling price is only at RM242.57/g, meaning I will still be losing money if I sell my gold now.
What I am trying to say here is that be mindful of these conditions before you plan to invest in gold. And remember 'don't put all your eggs in 1 basket'.
For me, gold investment is the smallest basket that I go for now. Esok lusa tak tau la kan.
Latest update: 28 Jan 2022
Jatuh lagi ke 2.47%
2 comments:
I also bought paper gold many years ago and the price really shot up for my case. I found the gold investment suitable for me because it prevents me to withdraw so easily like the cash from ATM. Kena queue up and I am lazy.
Good for you for buying at the right time.
For me, salah timing pulak.
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