I was having a conversation about money with my wife. Usually she never talks about money much with Mr, but I try to explain one or the other personal finance with her. Now since Diwali is coming, we are thinking of what to buy on Dhanteras. In India, most of the family buys something on Dhenteras based on their financial condition. Some buy Gold,some silver, some even steel.
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My wife wants to get a Gold Earnings, so we were thinking of buying that or we are thinking on buying the Silver biscuit. So basically we were discussing about the same thing. Now I am investing in digital gold from the last 3 years, not much, in small quantities. But since the Gold is touching the ATH, amount as of now is somewhat good. So we were discussing whether to use that investment to purchase the Gold jewelry or whether we should use our own money.
So that's why the question came into mind that when should we sell our investment. Now the sole purpose of saving in digital gold is to invest in gold because in the physical gold you cannot invest in small quantities. So when you have the significant amount, then you can actually buy the physical gold. But back of the mind you will still think about continue investing and thus you will never sell your investment.
But I feel when you actually need it, you should sell your investment and use it. I know we all save for rainy days, but these small joys are worth celebrating and thus we need to take out some investment for the enjoyment too. For example, I was investing for the car, now I have enough to buy a second hand car but I am still not buying it. Which is actually bad, when I have invested for that goal then we should complete that goal to provide a satisfaction. In this way you will be motivated to remain invested in the goal.
