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Two Blokes Jul 9 -
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In the world of discovering good investments, there is a prevailing belief that entering the stock market is the right approach. Of course, the hope is that the market rises, as does your portfolio, leaving you with ample funds to live on and retire comfortably. Key Points This Redditor is concerned about what would happen in the event of an apocalyptic scenario. Asking whether buying physical silver would be the right idea, Reddit responds in an almost unanimous way. There is no reason to believe that buying silver will be helpful in the event of a catastrophic global event. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here.(Sponsor) Unfortunately, the stock market is only good during times when economic certainty is strong, but what about during uncertain times? One Redditor posting in r/preppers is wondering what would happen in the event of an economic collapse. More specifically, they are wondering if they need to invest more in precious metals. The Big Question For this Redditor, who had recently discussed the possibility of a global economic disaster with someone, a point was raised that is worth considering. Instead of solely investing in the market and other areas, such as real estate, they were advised to consider purchasing physical silver. According to the Redditor, the person they spoke with is not an unsavvy investor and is “very knowledgeable about the topic.” Of course, this immediately led to several questions about how silver would compare to traditional investment ideas, such as high-yield savings, IRAs, and 401(k) s. The Redditor is asking their fellow preppers if they agree with the person they initially talked with. The good news is that the Redditor was naturally skeptical and didn’t just take this information as gospel. Instead, they are wondering how someone in Venezuela would benefit from owning a physical metal. Investing Versus Owning Precious Metals When it comes to “owning” precious metals, there are generally different options you can consider from an investment standpoint. The first option is to invest in precious metals through the market, where you can take advantage of the rising and falling prices of gold, silver, and other metals based on market conditions. For the most part, investors would say that during market downturns, these commodities tend to hold up better than, say, shares of Apple or Microsoft. On the other hand, you have the second option of physically owning precious metals, which would take up space in your home, safe, or safety deposit box. This is what the Redditor is discussing: if the worst-case scenario happened, like all of the power went out all over the world, would owning silver be something of value that would help you survive when cash is no longer king? To be honest, if you are someone who is expecting the world to collapse, as many people in r/preppers often think about, the only investments you should make are in food and supplies. There is unlikely to be significant value in anything other than what people directly need to survive. What Reddit Thinks It’s not often an entire Reddit section agrees on any topic at all, but in the case of this post, there is pretty much universal agreement. Many of the comments highlight the reality that, in the event of a societal collapse, giving someone a chunk of silver or metal for supplies is likely to be ignored. One Redditor sums it up best when they ask the original poster to ask themselves, ‘If society completely collapses and people are starving in the streets, will a shiny piece of metal be of any value?’ There is a good amount of conversation that highlights that the better investment is in land, learning new skills, and understanding how to survive in the immediate aftermath of any kind of event. In other words, if the question is whether precious metals are a good investment if society collapses, the answer is no. They may be a good investment while society is intact, but the idea that pieces of silver will have true value post-apocalypse is more fantasy than fact The post Are Precious Metals A Good Investment For An Economic Collapse? appeared first on 24/7 Wall St..
