How to buy gold in Canada
I will name 3 ways to buy precious metals in Canada and their pros and cons. I have used all of them myself.
This is a gold coin with a 999, or 24-carat proof, and a silver coin. Today I will talk about buying precious metals in Canada in order to use them in the future. For example, during retirement or just to fight inflation.
Why invest
Many people live for today and give little thought to the future. If you mindlessly spend the money you earn, nothing good will come of it. The option of saving is better, but when governments just print money, its value falls due to inflation. To combat this, I invest in securities, with excellent results so far. For example, my investments in the S&P 500 fund have doubled in about 5 years.
Someone will say that it is more profitable to invest in real estate, not in securities, someone will be for gold and silver, well, I think young people believe in cryptocurrencies.
What to invest in
Let me quickly compare investing in precious metals with the S&P 500 fund, which includes the 500 largest American companies. Let's imagine three friends who invested in different assets 10 years ago: gold, silver, and stocks. Who do you think would make the most money if they decided to sell everything? The bad news: silver is down 19%. Gold increased in price by 18% — seems like a good thing, though for 10 years it could be better. Stocks flew into space — they went up in price by 215%.
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