We save money so that it will be there when we need it. Unfortunately, people often invest in stocks and other assets that let them down at the worst possible times. There is a better way to save. Gold is much more likely to come through when you need it.

It is easy to find work in early 2020, and stocks have been soaring. Those with stock-heavy portfolios are feeling rich and spending lots of money during the good times, just like they always do. Former Federal Reserve Chair Ben Bernanke called it a “wealth effect,” but a better term for it is a credit bubble. When the bubble bursts, people are often left with debts rather than assets. Even worse, you are more likely to lose your job when stocks crash.

On the other hand, gold actually does better during bad economic times. Indeed, gold investors can sometimes see their savings stagnate or even fall during times of prosperity. That creates an incentive to save more. You’ll also be able to afford more savings because you’ll be earning more money. When the next recession comes, there’s a good chance that a rising gold price will help you make ends meet.

Gold is an even better hedge against disaster in the long run. During the first decade of the 21st century and the 1970s, the gold price shot up rapidly as stocks fell and unemployment surged. Many people who invested in gold were able to retire early and avoid unemployment during tough times. Gold was there when they needed it. If an entire decade is prosperous, gold prices may lag. Gold holders might even have to delay retirement. On the bright side, it is usually easy to find work during an economic boom.

Physical gold is also more dependable than paper assets when you experience a personal disaster. What would you do if your bank account was hacked or frozen? In cases of identity theft, you might lose access to stocks in brokerage accounts as well. All of your accounts may also be frozen at the same time, usually in the name of protecting you from hackers. I’m sure that most of these mistakes could eventually be fixed, but you would still need cash to pay your bills. Even a few ounces of physical gold would probably be enough to get you through it.

The choice to increase your gold holdings depends on what you want from your investments. A portfolio with lots of flashy tech stocks is perfect if you are trying to get rich quick and wish to brag to your friends. If you want steady growth and a way to support your family during tough times, then you are better off with more gold. Since gold is there when you need it, you can be there when people need you.