Money Manage Tips

In a recession economy, a gold investment is a good way to protect your savings. Gold and silver have been used as a currency for centuries and can be a protection against inflation and the currency being devalued. BULLION VS. NUMISMATICS: It is safer to stick with gold bullion coins rather than collector gold coins, also called numismatics. Gold bullion coins cost little over the cost of the gold itself. Numismatics, however, are priced according to rarity and are a risky investment in any economy, but even more so in recession. SPOT PRICE: To determine the cost of gold coins, first you have to find out the daily spot price for gold. The base price for metals is called “spot” and changes daily just like the stock market. Some web sites give you the daily price plus the prices from the previous day, week, month, and year. Follow the prices for a few days and plan to make your gold investment during a price drop. See resources for a link to spot prices CHOOSE YOUR COIN: The most common ...

Anyone can be a victim of investment fraud. The retired and elderly are often targets of investment scams, but anyone can be a victim. Protect your self by asking a few simple questions before you invest in any investment offer. Practice the following statements: "I am sorry, I am not interested. Thank you.” “I never make investing decisions without first consulting with my (husband, attorney, banker, sister, etc.). I will contact you if I am still interested.” Knowing what to say before they call is your exit strategy and it makes it easier to leave the conversation before the sales pressure starts. Turn the tables and ask questions, lots and lots of questions. Ask the name of the firm, for a contact number, a mailing address, and a e-mail address. Never say yes on a firs time call. Get a second and third opinion. Be extremely skeptical if the person promoting the deal says, “Don’t tell anyone else about this special deal!” A legitimate investment professional won’t ask you to ke...