Monday, October 17, 2011

Good as Gold

Our economy is changing, and not for the better. Gas prices are soaring, stocks are falling, and what was a 401K at one time has turned into a 40.1K. They tell me that when I retire, Social Security won't exist. I'm 43 years young right now, and have done nothing to plan for my future. Sure, we are buying our house and it should be paid off in the next couple of years. The husband has a 401K plan where he works, but that isn't guaranteed with stocks falling as we have seen in the not so distant past. One cannot pay off utilities, groceries, clothing, and other consumables like we do our homes. Those bills are a constant and always will be.

With investments not being as secure as we once thought them, and the U.S. dollar becoming worthless a little at a time, what should we do? I have found one thing that has continually risen in price since the beginning. Today I finally purchased a very small piece of that commodity.

I am now the proud owner of a 1 gram .9999 gold bar.

Yes, I know it doesn't sound like much, but if I purchase one of these gold bars every week (rather than spending the money on a Lilly Pulitzer scarf), then it won't be long until I have a pretty good bit of gold.

Let's look at how gold has performed historically:

The last year, gold showed a gain of 336.90 per ounce


In the last 10 years, gold increased in value by 1400.80.


If I had only done this in 2002... Just one ounce of gold then was 272.20. That same ounce as of 10/13/11 is at 1666.70.

Hindsight is 20/20. But at least I finally jumped on board.

*For the record, the above gold bar was purchased on e-bay on 10-13-11 for $65 including shipping.

4 comments:

  1. Hey good writing about the gold. I remember back in 1978 gold went up to 1,200 an oz, interest rate for houses was 22%

    Is this gold bar you purchased on ebay, certified? Perhaps you have it checked by appraiser to be sure it is legit.

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  2. Good morning, Deb!

    I only wish I had gotten on board back in 2002! I had the extra cash to buy an ounce a week back then. I'd have a LOT of money right now!

    The bar that I purchased on ebay came from a reputable seller of gold, coins, and foreign currency. He has a 100% positive feedback and has been on the site for over ten years.

    You do bring up a good point that I failed to mention in my blog. Always, always, always check the profiles and comments of the sellers that are on ebay or any other internet site for that matter!

    Thanks for stopping by and have a great week!

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  3. EXCELLENT post!!!!!!

    And I LOVE your post title. VERY clever!!!!

    " One cannot pay off utilities, groceries, clothing, and other consumables like we do our homes. Those bills are a constant and always will be."

    You are soooooo right! And the sad part about that is that the cost of these bills will only keep escalating. OMG....food keeps going up and up every week! I went to buy coffee last week and it was over $7.00! I can remember when it was only $3.00. And don't you LOVE the price of cigarettes? In NYC they're over $10.00 a pack!

    My mother has always been very big in purchasing gold. Years ago (and I mean MANY years ago), she use to say that it would be the only thing worth anything in the future. And she was right!

    Thanks for sharing the info on the gold bars, girl! I will definitely look into it.

    Have a faaaaaaabulous week!

    XOXO

    P.S. I'm so glad you're back blogging!

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  4. Hello, Ron!

    You are totally right about the cost of food! I had no idea though that a pack of cigarettes in NYC was $10!!! If you buy them by the carton here, you can get them between $4 - $4.50 per pack. I thought that had gotten out of hand. I suppose I should count my blessings!

    Isn't it always proving to be true? Mother does know best! If I had only listened to mine just 10% more than I did back then (when I knew it all).

    Happy Monday!

    (And I'm glad that I'm back too!)

    XOXO

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