Investing in GOLD
This is one interesting asset class that has survived and thrives for generations. In the ancient times, it was only the wealthy who possess gold in physical forms. Later, it become more easily available to the common folks and different countries adopt a different attitude towards gold.
In India, I think married couples have to have lots of gold as part of their dowry. In China, the older generations still believe in hoarding gold and passing it down to generations.
Taking a look at the weekly chart, we can see there was long period of consolidation between 4 to 6 years where the prices go sideways. If you have no patience and bail out, then you would have either bought it at much higher price later or missed a great opportunity.
There are really very few traders who make good money on a consistent basis, be it gold, forex, stocks or other asset classes. If it is that easy as the course providers want you to believe, only 1-2 hours on the computer and can make 5-6 figures a month, think again, who wants to work? Getting up early , rushing to catch the train, interact with colleagues you may not like and a unreasonable boss that keep on asking for more. You exchange your time for money so that you can upkeep your lifestyle. The more costly your lifestyle is , the more stressful you become in needing the income to maintain it.
So how ? Downgrade your lifestyle to something you can afford. Forget the branded stuff, there is nobody to impress.Forget the expensive car, just a cheap china made EV car that can still get you from point A to B or better still, take the public transport.
Forget the expensive hobbies like country club. You can still go swimming or running at public facilities for a fraction of a costs or free. Invest your time in understanding the financial markets, read widely, invest in different asset classes, geographically to divest and mitigate your risks.
Find ways to increase your multiple source of income. Stay healthy , physically and mentally so you have the energy to do what you want in life.
In India, I think married couples have to have lots of gold as part of their dowry. In China, the older generations still believe in hoarding gold and passing it down to generations.
Taking a look at the weekly chart, we can see there was long period of consolidation between 4 to 6 years where the prices go sideways. If you have no patience and bail out, then you would have either bought it at much higher price later or missed a great opportunity.
There are really very few traders who make good money on a consistent basis, be it gold, forex, stocks or other asset classes. If it is that easy as the course providers want you to believe, only 1-2 hours on the computer and can make 5-6 figures a month, think again, who wants to work? Getting up early , rushing to catch the train, interact with colleagues you may not like and a unreasonable boss that keep on asking for more. You exchange your time for money so that you can upkeep your lifestyle. The more costly your lifestyle is , the more stressful you become in needing the income to maintain it.
So how ? Downgrade your lifestyle to something you can afford. Forget the branded stuff, there is nobody to impress.Forget the expensive car, just a cheap china made EV car that can still get you from point A to B or better still, take the public transport.
Forget the expensive hobbies like country club. You can still go swimming or running at public facilities for a fraction of a costs or free. Invest your time in understanding the financial markets, read widely, invest in different asset classes, geographically to divest and mitigate your risks.
Find ways to increase your multiple source of income. Stay healthy , physically and mentally so you have the energy to do what you want in life.
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