Many people prefer to hold their wealth in a Home Delivery Gold IRA.
One of the most important keys to healing the American economy is teaching citizens the dynamics of personal finance. If people knew how to properly handle their personal finances, there would be fewer foreclosures, delayed retirements and 401k losses. Two things that most people have failed to learn, besides history and mathematics, are economics and finance, especially as it applies to their personal lives. That is a major reason the financial meltdown has wrecked the finances of so many households. Perhaps the very first thing that people must understand is that the financial goal of life is to have your money work for you, rather than you work for your money. Many Americans (and many immigrants) handle their finances in a way that is beneficial to them because they invest in businesses and financial assets. They create intelligent plans for investing and saving their money.
Most of us do not handle our finances as well as smart investors. How do we know this? When the markets tanked in 2008, most of us were hit a lot harder than well-prepared groups in society. This suggests that most of us aren’t doing what the other groups are doing to grow and protect their wealth. Typically, the primary financial asset that we have is the home that we live in. Economically, this isn’t an asset, because it’s not putting money in your pocket, while well-organized people have a diversity of assets, like stocks, bonds, businesses and other investments, which do put money in their pockets. That’s why when the housing meltdown took place most of us were adversely affected much more so than those prepared for the crisis. Too often, people forget the adage, “don’t put all your eggs in one basket.” Some of us have suggested that it’s in poor taste to single out a small group of people for scrutiny in this way, but if there’s to be an improvement, the problem must be identified and resolved; it won’t be done by sweeping the problem under the rug. To solve the problem, it first must be faced.
To acquire financial assets (that put money in your pocket) like precious metals, one must study accounting, finance, investments and any other thing that will enhance one’s ability to accumulate wealth; science, engineering and technology immediately come to mind. This means that one must put in some serious time studying and analyzing the economic environment religiously (that means, every day), including the supporting information, like science, technology and engineering. You might even get some ideas from reading science fiction. How many of you remember the Dick Tracy cartoon, where Dick had a wristwatch radio for communication? We see it now, and can use one ourselves. To give you a feel for what this means, I worked as an internal auditor at a bank when I first graduated from college. When we did spreadsheets, they were, literally, large sheets of paper with columns and rows on which we wrote, in pencil, our information. We also needed large block erasers and a mechanical calculator to compute the numbers for the spreadsheet. If an error was found, large blocks of the spreadsheet had to be erased, and all the numbers had to be re-calculated.
You can imagine the excitement when VisiCalc was introduced. Being able to input information only once, with automatic recalculations built into the software, was a huge win. As we worked with VisiCalc, we noticed some shortcomings which were eliminated with Lotus123. As a result, Lotus became the default spreadsheet until Microsoft introduced Excel, which eliminated the shortcomings of Lotus, and has been the default spreadsheet ever since. There are even open source spreadsheets that mimic Excel, but they haven’t made much of a dent in the market, even though they’re free. If you were looking for an investment, a knowledge of the environment where spreadsheets took hold would have also offered you an insight into whether or not you should have invested in Lotus or Microsoft (VisiCalc was not available for investment). Another example was in the computing environment. When I first started in engineering school, there were no calculators at all. We all had to use slide rules. I got an idea of how old I am when I mentioned slide rules in my high school math classes, and the kids asked, “what is a slide rule?” I felt like I’d been talking about the abacus. They didn’t know from calculators. We now know that Hewlett Packard (HP) and Texas Instruments (TI) have come to dominate the calculator market, at least in the schools, engineering, and finance. If you had invested in either one of those firms when calculators first came out, you would have made a lot of money over the years, and they’re still good investments.
It doesn’t mean that you have to be an engineer, but it does mean that you must understand the technology that you see around you to the extent that you can make intelligent investment decisions; otherwise, you’re just gambling. For those of you who are serious about acquiring wealth, I recommend that you carefully review the following pages and apply what you learn. I’m sure that, barring a complete economic collapse, the results will be far superior to betting on the lotto.