Yesterday, when I had my sorority sisters over for Thanksgiving, we started to talk about the investments each has: stocks, bonds, Bitcoin, and Ethereum. Yes, we also talk about gold or silver!

Making predictions about the market's future moves puts you at risk of making irrational decisions based on feelings rather than logic. With the benefit of hindsight, it's easy to believe you could have known more. However, things are far murkier and more unpredictable.

One of my sisters dabbles in trading stocks and Bitcoin. Worrying about the daily movements of the market is a diversion if your goal is to increase your money over a long period of time. We anticipate ups and downs along the route, but you'll be far more likely to succeed if you maintain consistency and stay in the market rather than coming in and going out.

I just let it be! But I take my time in deciding what to invest in. Then I leave it alone. Once in a while I relook at my positions... and sell stocks and crypto if necessary; the most that I have done it is three times in one year! I mostly hodl. And so far, so good.

Recessions and market downturns seem so evident in retrospect that it's easy to believe you can prevent them. The issue is that once it's behind you, the route is completely clear.

The majority of people are aware of the fundamentals of risk and investing. They are aware that investing carries a chance of loss and that the required risk increases with the potential profit.

However, most people struggle miserably, for whatever reason, to translate these ideas into their actual situations.

Individuals tend to downplay the influence of chance in events and exaggerate their own abilities; they are aware that unpleasant things happen to other people rather than to themselves.

When it was turn to talk, I told them about my journey in gold and silver. That I found it wise to keep a portion of my money in gold and silver... as savings, not as an investment.

I told them that I diversify my holdings and protect myself from inflation, recessions, and volatility. I have included precious metals, specifically gold and silver, in my portfolio. And I diversify my holdings and hedge against inflation and economic unpredictability.

Given its track record as a store of value, gold has traditionally been regarded as a safe-haven asset. Exposure to gold can offer stability and defense against financial unpredictability as markets and economies change. Because there is a limited supply of gold, which is mostly produced through mining, its values have historically been more steady than those of other commodities, including silver.

I showed them my portfolio with one dealer, from whom I purchase approximately 1/3 of my holdings in gold and silver.

But the unexpected good thing is that it is up to par with my other investments.

Did I convince them to do the same? I don't know. I am not out to convince them. They can do whatever they wish with all their money.

This is my first real opportunity to talk about gold and silver with my sorority sisters! I recall that about six years ago, I was all excited and talked to one of them about how I started stacking. She just stared at me! Like... what is she talking about?

Reference
https://www.focusontheuser.org/resources/investment-strategies-gold-vs-silver/
https://www.cbsnews.com/news/gold-vs-silver-investing-how-to-decide/

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I post an article daily. I feature precious metals every other day, and on other days I post articles of general interest. Follow me on my journey to save in silver and gold.

@silversaver888

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