Guest post in our financial series. Enjoy! – Kimberly
If you are anything like me, watching your hard earned stocks drop all year has been a disheartening end to an already catastrophic pandemic. I started investing at the start of the virus as a way to protect some of the stimulus money I was receiving. During that time, it has been fun to watch the stocks drop and rise, never losing more than a few points here and there.
This year is a different story. As of last week the Dow was down .28%, bitcoin was down 7.99%, Nasdaq was down 3.86% and S&P 500 was down 1.27%. The crisis in Ukraine, mixed with high inflation and a still recovering world has caused the markets to be unpredictable at best, downright dangerous at worst. After watching my money wax and wane for two years, seeing it drop significantly in that short amount of time, made me realize I needed a change.
I am not a financially savvy individual, so when I make investments, I am diligent about how and what I am planning on investing in. I liked the thrill of the stock market, but it was time to find something with a little less risk. That’s when I decided to look into gold.
Obviously, I am not selling the stocks I already have, that would be a loss of investment. But as tax season rolls around, I plan on taking that nice little return, and investing it in gold. Why gold, you may ask? Simple, as stated in that article, gold is safer. It doesn’t rise and fall with the markets. So, while I will keep my stocks and hope for a rise, it is time in my adult-life to diversify my portfolio and buy some gold as well. Gold started as the standard for our modern world. It was the way international exchanges were gauged, but recently, with set exchange rates, it is a separate commodity. Continue reading