Bloomberg Creative
At unemployment rate Down as less Americans looking for work. This is the big economic news released on Friday by the Bureau of Labor Statistics. Employers added 254,000 jobs in September, beating economists’ previous prediction of 140,000 new jobs. The unemployment rate then fell to 4.1%, down from 4.2% the previous month.
This is yet another welcome economic development that follows a Federal Reserve interest rate cuts in September and the report shows inflation at its lowest point in three years. While there is still much work to be done to fix the economy, many Americans can be encouraged by these latest developments.
However, as the economy improves, some may reconsider traditional and alternative investments. This consideration is especially important for the elderly, who are heavily dependent on pension funds and Social Security. For this demographic, in particular, every type of investment should be worthwhile. And though goldfor example, it has been a smart investment for many in the new year, some old adults may be wondering about it’s worth now. must seniors invest in gold as the economy improves? Or should they look to skip it altogether? This is what we will discuss below.
See how the right gold investment can improve your portfolio today.
Should seniors invest in gold as the economy improves?
Here are three reasons why seniors should consider investing in gold today, despite the economic downturn:
The price goes up
At the price of gold has surged this year, breaking many price records in the process. So for parents looking for a clear, upward-moving investment, gold will be it. The price of precious metals from the year on $2,063.73 per ounce and now hovering near $2,700.00 – up more than 30% since January. And it can easily be exceeded $3,000 soon, according to experts. So don’t let that happen. Invest now and enjoy the benefits of growing assets.
Start gold here.
This is still a safe place
The rising price of gold should not cause parents to forget that the precious metal is still effective as a long-term, shelter investment, too. As the last 18 months can attest, when other assets seem to falter due to inflation and other poor economic conditions, gold often holds steady and even rises in value at the same time. This shelter feature is always important to have in a portfolio, especially for seniors who have little wiggle room to withstand the volatility of other less reliable investments.
Your portfolio could use diversification
Certainly, the economy now seems to be on the right track. But that doesn’t mean you have to have a static portfolio. However, now is actually a smart time to diversification to protect themselves from future economic downturns. And, as we have shown in recent years with pandemics, inflation, etc., no one can accurately predict when the economy will turn around again. It makes sense then to diversify with gold now to compensate for unforeseen risks. Make sure you do it in limited quantities. Most experts recommend capping the gold 10% of the overall portfolio but, for the elderly, the amount can be a bit lower.
Bottom line
Gold may make sense for seniors to invest in now, even though the economy is improving on many fronts. With metal prices rising but the traditional benefits of safe havens and diversification still strong, many parents will benefit from adding a small portion of gold to their portfolios today. And with types ranging from Gold IRA to be simple gold bars who can buy from CostcoThere is no shortage of ways to invest in precious metals these days.
Start here today.
