If you feel your confidence slipping, you’re not alone.
Here are a couple of excerpts from commentary on a recent New York Time/CBS News poll:
“Americans are more pessimistic about the nation’s economic outlook and overall direction.”
“Amid rising gas prices, stubborn unemployment and a cacophonous debate in Washington over the federal government’s ability to meet its future obligations, the poll presents stark evidence that the slow, if unsteady, gains in public confidence earlier this year that a recovery was under way are now all but gone.”
Add to that what has been happening, and is still happening, in Europe, the Middle East and North Africa, and it’s little wonder that our hopes for the future are losing a little of their shine.
And consider this quote from a recent article at CNN.com.
“Is the ‘Age of America’ drawing to a close? According to the International Monetary Fund (IMF), its demise as the leading economic power is five years away and the next president of the United States will preside over an economy that plays second fiddle to China’s.”
For more on that, watch this video.
All in all, there are plenty of reasons to feel cautious about the future. In particular, many of us have concerns about what our savings and investments will look like in 5, 10 or 20 years from now.
Well, if there was ever a time to follow the age-old advice about investing a proportion of your savings in gold, it’s now. In other words, do what your financial advisor has always suggested: make sure that at least 5% to 10% of your savings are in gold.
But keep in mind that the 5-10% rule was established during better, more optimistic times. In the times we are facing now, you might want to invest 15%, 20% or more in gold bullion coins or bars.
Where should you buy your gold?
If you have a reputable local dealer who deals in gold bullion, that could be your first choice.
If you don’t, you can buy gold coins and gold bars online at GovMint.com.