Buying Gold Vs Savings Account

FinanceTrading / Investing

  • Author Syed Shabbeer Altaf
  • Published September 4, 2014
  • Word count 512

There are many different ways that you can choose to invest in your future. The most popular method that people use is by putting money into savings accounts. The question is, ‘is it really worth it?’. I would put it in contrast with the world’s most superior currency – ‘Gold’.

Savings accounts have been around since the first banks were open, and gold has been a commodity that has been high in worth for thousands of years. So how do you know which choice is the safer and more profitable investment to make for your financial needs? The answer is going to be gold.

The problem with a savings account is that when you put your money in there, it is just sitting and not growing much. The interest rates that banks are offering are pathetic. Since the banks are not loaning money out to people, so they aren't making any money. And we know when the banks aren't making any money off of your money then they aren't going to give you any in return. Although purchasing gold isn't going to give you instantly high turn around price to sell it at, it is a steady investment that is going to continue to grow.

Gold worth’s more than the dollar itself and this is another reason why it is a better investment. Over the duration of time that you own your gold, it is going to steadily grow and retain its value. People choose gold over anything else because they don't have to monitor it in order for it to perform. You don't have to sell gold when the inflation is high, and then dump it if inflation goes down like stocks. In fact, when inflation occurs gold hedges your investment against inflation; since, it is usually the first to gain in price. Furthermore, it is an easy way to maintain stress-free investment that provides the investor with the safety of money and in most cases promises bigger money than the invested money.

Gold is an imperishable investment that is only going to grow higher in demand as time goes on, since there is only as much gold for the whole world. And that is why so many investors are choosing to fill their portfolios with it. The money in your saving account is going to be safe, but with the current interest rates it isn't going to be much beneficial for you. To take that money that you have in your savings account and then invest it in gold would be the much better option for you and your family.

Starting to save correctly today is going to give you a much brighter future, and you are going to be able to plan your life a lot better. There are also going to be uses for gold in the things that we need, so you are always going to be able to get your return if you had too.

You can also visit my website and find out more on how gold can help you achieve your financial goals.

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Article comments

Mark Ashton
Mark Ashton · 3 years ago
Great article Syed.. there are many ways to try and build your money and with interest rates being so low many are looking to invest in Gold and precious metals.