Should Millennials Care About Gold & Silver?

2 -- Even if you are young, you probably still have some hopes and plans to build up a nest egg for the future. That is a very universal goal for people of all ages everywhere. If you have started into such a plan and have looked around for financial planning advice, you have likely heard the cherished adage that you need to be diversified. It's cherished because it's good advice. The question we need to ask is -- What does it mean to be diversified? I would say it means that you have allocated your savings or accumulated wealth across several different asset classes to the extent you can. The wisdom behind this advice is that it should enable you to be flexible and adapt to a wider variety of future economic scenarios as circumstances change over time. If that is true, don't we need to have more than just a mix of stocks and bonds to really be diversified? Those are all paper assets and leave you with no tangible hard assets. I would not think of that as truly diversified. Perhaps you add some Bitcoin to the mix? Hopefully that works out well, but you still have nothing in the hard assets class. Gold and silver fill that void very well. I will make a bold statement at this point. No matter what anyone tells you, if you have no hard tangible assets in your portfolio mix, you are NOT really diversified and you are not in a position to be as flexible to any future market scenario as you may need to be (not financial advice, just an opinion). That's the thing about the future. None of us can predict it with certainty. It's a simple fact that being truly diversified means you are in a better position to adapt to whatever the future may bring. I will add that not including a reasonable precious metals component in that mix is foolish in my view no matter what generation you belong to.

3 -- What if you inherit some gold and silver? What if they are coins? If the first two reasons don't persuade you to care about gold and silver, I bet this third one will if it happens for you. It's not farfetched. If we allow that in general older folks may lean more towards gold and silver than younger folks, the odds are not bad you may inherit some one day. That's a good reason to care and also to invest some time learning about them. If this happens to include some gold or silver coins, you certainly need to know as much as possible about those. If you sell them, you need to know what they are worth in the marketplace and be sure to maximize your value received. All coins are not alike and it's important to understand what that means.

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William K. 1 month ago Member's comment

Quite an article, full of wisdom and insight, all very rational. And I would add that even iff one has no intention of owning gold or silver, they are still valuable indicators and reference points of the general situation. And that information may be important, on occasion.