How to begin gold savings the right way?
First of all, I would like to congratulate you for being serious in this journey on precious metal savings/investing. I genuinely believe that this blog website has given a brief overview of concepts or perspectives beyond ‘buy low, sell high’.
As of this writing, at least 800,000 gold savers from around the region have experienced gold savings/investments. The key to succeeding in this asset class boils down to the powerful words of Robert T Kiyosaki. He says that ‘it is not gold that makes us rich, but the knowledge associated with gold that does so’.
This is true not only in gold savings/investments but also in all forms of investments. Regardless of any tools we pursue as a vehicle to grow our money, spend the necessary time to understand the concepts before starting them. With the Internet, the availability of knowledge has been straightforward, and we have to do due diligence.
The key to maximum profit
Those who save or invest in gold without knowledge would always appear restless. Regardless of whether the gold price appreciates or depreciates, they always seem clueless because they lack the most critical ingredient (which is knowledge).
Without having prior knowledge, any form of investment is no longer an investment but a gamble. Without the necessary information, we would not know what strategy to employ, and we basically ‘hope’ that things go the way we wanted. This is not the way to pursue any investments. By having the proper knowledge, we would analyse the strategy we use. Upon review and correction, we can potentially repeat the same process, again and again, to profit even more.
In the context of gold savings/investment, a gold saver would be happy when the gold price appreciates because they know that their savings are increasing in value. When the gold price crashes, they would be even more pleased because they get to buy expensive assets at a cheaper rate. Either way, they would not be negatively affected because they know exactly what to do.
Tips to generate profit
To maximise the benefits obtained from this book, I would like to suggest the following:
1. Begin your first purchase
This can be done with a small budget. Perhaps one dinar gold coin or even one gram gold bar is also suitable in this case. Get the experience of owning gold in your hands first. Do not focus on profit potential just yet. Once you get started, you will slowly be more familiar with the system and gain that experience.
2. Follow the latest development on gold savings
I also share content on my blog, which can be accessed at www.diversifywithgold.com, where I share a lot of information regarding tips on gold savings and other related content. Similarly, I have a Facebook page named ‘Diversify with Gold’, which can be accessed at https://www.facebook.com/diversifywithgold. Consider following me there for more information.
In addition, following my Mentors, Tuan Mohd Zulkifli Shafie and Tuan Syukor Hashim are highly encouraged as they too would be sharing relevant content about gold savings/investment. Their blog website and FB page are as follow and can be accessed via the respective QR codes:
Tuan Mohd Zulkifli Shafie
Blog: https://www.mohdzulkifli.com/
FB page: www.facebook.com/mohdzulkifli.shafie
Tuan Syukor Hashim
Blog: www.jutawanemas.com
FB profile: www.facebook.com/syukor
FB page: https://www.facebook.com/syukorjonaina
If you are keen to get more information regarding the gold market on a global scale, the following websites can be a good resource:
GoldPrice: https://goldprice.org/
Kitco: www.kitco.com
World Gold Council: www.gold.org
The websites above are helpful, especially if you consider investing from a ‘gold trader’ perspective.
3. Attend seminars or webinars regarding gold savings
Usually, the problem with reading content (without referring to the author) is primarily the difficulty in addressing any doubts. Hence, attending seminars or webinars, which are usually conducted for free is highly recommended.
Thus far, the company that conducts seminars or webinars since 2008 is Public Gold Marketing Sdn Bhd (www.publicgold.com.my). The schedule of the talks can be referred to on the website.4. Get additional references
The contents I share here in this book are based on the knowledge and experiences I have learned since 2018 apart from leveraging my Mentors’ experiences. Other authors might have a different set of experiences. So, I would suggest expanding your perspectives by reading content from prominent figures such as Tuan Azizi Ali, Tuan Syukor Hashim or even authors from abroad like Michael Maloney.
If the four tips above are carried out as described, I believe the benefits from this book also from elsewhere can be fully maximised. Gold can indeed have a positive impact on our savings and financial portfolio.
Should you find this article useful, consider sharing this with your friends and family. Let's create awareness about gold savings because nobody will come forward to help us.
Easy way to start gold savings can be found here: Gold Accumulation Program
Join my Facebook page for free here: FB page
Hope you find it useful.
Your Gold Buddy,
Naresh G