Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

How Much Gold Should A Person Buy As A Percentage Of Their Wealth?

IMG Auteur
Published : August 11th, 2011
336 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

WHAT OTHERS ARE THINKING

There’s plenty of opinion out there on this question, but most advisors appear to recommend somewhere between 5% and 30%.

Kevin McElroy of Wyatt Investment Research, on the other hand, isn’t inclined to put a hard and fast number on it.

He suggests there’s a ‘simple metricthat will ensure you have the bare minimum of gold or silver that you might need in a worst-case-scenario.”

Here’s Kevin’s rule of thumb for people considering this issue:

“Look at your budget for your monthly living expenses. Stuff like food, water, transportation, clothes, heating oil, etc. Add it all up to find your average monthly cost of living. Multiply that number by six, and then buy a mix of gold and silver bullion equal to that six month estimated cost.

Why six?

Assume we enter into a real life, 'as seen on TV' currency crisis, with food riots and long lines at the gas station, wheelbarrows filled with cash to buy a loaf of bread, etc. In this circumstance I estimate that at the VERY least, you'll want to have enough gold and silver to cover six months' worth of your living expenses.


Six months would give you enough time to figure out the next step - whether that's moving in with relatives across the country, or finding a new home in a different area - even moving overseas, or starting a large garden or small business that would be in demand in the aftermath of a currency crisis.

Hopefully, six months of living expenses isn't more than 5% of your net worth - it's probably also an affordable amount to get started with.

Anything more than that six month supply is extra security for your bottom dollars.


I wouldn't advise putting more than 30% of your net worth in gold or silver. That's way too many of your eggs in one basket.”

Read Kevin McElroy’s post A Gold and Silver Buyer's Guide Part II in full here.

 

 

 



Stephen Ward

The Perth Mint Blog

  

 

 

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Sernova, Diabetes and Haemophilia
29 JulS W.
Cannot agree with your 'globalists poisoning agenda" claim re Diabetes. Diabetes occurs because people eat and drink too much Sugar for th...
Hyperinflation Defined, Explaine...
28 Julsam_site
From you money supply graph it's easy to see how the globalist-created Vietnam War, Civil Rights Movement and War on Poverty accelerated Big G...
The Jeffersonian Secessionist Tr...
28 Julsam_site0
Your article supports the notion that the south had every justification to leave the union because of the unfair tariff war triggered by the N...
The American Religion of Violence
28 Julfoleymanor12
very interesting. what a nasty bunch the northerners were
Japan's Lemming Syndrome
27 Julrjs2248
Let's all follow the leader (The FED). Once the first domino starts tipping the rest of the global Ponzi scheme will crash. The best outcome is to ...
The Odious Versus the Tedious
27 Juldennyc1
I don't know. Trump may seem incompetent; but the blue ribbon for incompetence must go to and remain with George Bunnypants Bush and his response t...
How a New Vision Rose From the C...
27 Julsam_site
Video is the usual globalist propaganda pushing diversity, immigration and the balkanization of white, mostly southern and Protestant America ...
Sernova, Diabetes and Haemophilia
27 Julsam_site
Because the internet is finally getting out the word that diabetes, like most diseases can be cured through complete 90-element nutrition, exp...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS