Gold — How I started my Gold Investments
I am sure, when anyone hears the name “Gold” , immediately , they start to imagine fancy jewelleries, watches and other articles made out of gold. In fact, people in many countries spend a lot of their money on gold. Moreover, the Federal Reserves of many countries keep their reserves in Gold. This is because in uncertain times, Gold is considered the safest option and it is the alternative to the currencies (any currency in the world) which are circulating within the countries and global system.
I still remember when I was a kid, my grandmother used to buy gold every time, she got a good sum of money from one of her kids. Many a times, I used to go with her to the jewelry shop. One of my Gold pendant was gifted to me by her when I was just 15. She had a thought that gold is the best investment and one should put some money in gold. The other thought was that, she wanted to gift each grandchild some sort of gold before or during their marriage. Many a times, she would not spend money on her own desires, but rather buying gold.
This thought of her always accompanied me and when I started earning, I thought why not buy some gold. But I was young and earning, so I thought I have many years of life remaining, let’s go and enjoy life. I went on vacations with friends, spent money on other necessary and unnecessary stuff and kept on this way for first 4 years of my work-life. And at the end of 4 years, I had not saved even a single penny. Then, on one warm winter sunny day, I was enjoying a glass full of juice with my father. Suddenly, my father asked me how much money do I have. I was shocked and worried also, because I didn’t have a single penny in my account. And then, my father taught me the importance of savings and how important it is to put some money aside in a safe and secure investment option.
Still, I was reluctant, as I was not sure of what to do and how to do. Then, my father told me to give him $20 (1500 Indian Rupees today) , every single month sensing out that I have done no homework in investing and had no idea about it. Since, I also wanted to escape from this discussion, I started giving the said amount to my father.
Time went on and I continued the way I was continuing my life. Now, the only difference was that, I had $20 less every month, as this is the money that I was giving to my father. And then , one fine day (again a sunny winter afternoon), my father asked me to open a website and then he showed me the growth of my investment. I was surprised to see the kind of money growth that was happening. Immediately, I asked my father , how is this possible and why not others are investing. I think this is great and I should give you more money. This is when my father in a tone of anger told me to be responsible for my own investments and decisions going forward. With this, he ended the conversation.
I was happy for the lucrative growth of my money and wanted to learn more about it. This is how, I started my education on Gold and Gold Investments. I got a lot of knowledge on how one should go on with the Investments in gold. I started to read books and slowly and gradually went ahead with the fortune made by my father for me.
I made mistakes as well in my investing journey in Gold, which I will share someday in another article. But making mistakes is part of the learning process, in order to chalk out some rules and then abide by them — no matter what.
With time, I have been involved in other asset classes as well and I have come to realize that Gold Investments are as relevant today as they were in the times of our grandparents. I have seen various up and down cycles of economy along with the uncertainties (such as Covid-19 today) and with my experience from these cycles, I have made a promise to myself to always invest 20–25 % of my Investment capital in Gold.
Grow your knowledge on Gold first and then take your decision. In the coming articles, I will share some more relevant information related to Gold and Gold Related Investments.
