Why do older people like investing in Gold/Silver? - page 13.

chocolah29

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Quote from: BitcoinOddsChecker on September 06, 2018, 09:20:12 PM

The thought of a tangible investment could be a huge playing factor here.

LoL this actually true since our elderly really prefer to have something tangible and for them it feels like security. Before our grandparents are really fond of buying gold and silver and they'll tell their children that if they'll die their children won't starve and already have a future. For them it's more than an investment and likely an insurance plan. Grin

It's funny but it's true. You know, nothing beats an old fashioned way.

jack wira

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the reason parents prefer to invest in gold ... there is a Malay saying it sounds ... decorated with savings ... I think it's a factor bro.

eyesninja21

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Quote from: squatz1 on July 09, 2018, 12:05:13 AM

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

Gold is “money”. Gold is a real/hard asset. Gold has been money for thousands of years and no amount of market rigging, made up rules, or government intervention will change this law of man.The old saying goes; Gold is “the money of Kings” and silver is “the money of Gentlemen”.
Gold protects you against the inevitable devaluation of paper money, and inflation and has the same purchasing power today as it did 100 years ago.
We certainly can’t say that about our paper currency. The difference between gold and currency is that currency is distributed by a central government and backed by a national economy. For people who assume that either the government or economy will collapse soon, gold seems like a hedge against it.

BagzMM

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Quote from: squatz1 on July 09, 2018, 12:05:13 AM

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

I think they really value it and they are not aware about the advancement of technology. They think it is more safer and profitable.

laracastvue

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Quote from: bocah cilik on September 05, 2018, 12:54:02 PM

I think that happens because they believe that gold can only be mined, while the Gold mine has only a few limitations and cannot be created using technology, and the price of gold always increases over time, no doubt Gold is a long-term investment that parents can do . Because they don't understand about Cryptocurrency investment.

People invest in gold and silver just because they are outdated but if they knew how cryptocurrency is profitable then they will prefer bitcoins rather than gold or silver.

deloreswest

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Open and Transparent Science Powered By Blockchain

Well cause i believe gold and silver is like a bitcoin in their era and it was the best investment in their time. Its not weird that they hate bitcoin cause its doesnt have a physical and does more complex than gold.

BCSHonda

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Quote from: BitSat on September 05, 2018, 03:29:04 PM

Gold and Silver is easily liquefied. I think that is why older generations tend to prefer to invest in precious metals because the form and type of other investments have a tendency to be more difficult to liquefy or can only be claimed at certain times. Unlike the case with Gold and silver investments that provide flexibility for these investment holders to be able to withdraw it into cash in a relatively easy way and a relatively short time and more flexible than other types of investment.

Simple things they see. And can carry with you. Because their thinking is old thinking. But that's also their best way. If later electronic money is no longer. That is the treasure of the times.

BitcoinOddsChecker

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The thought of a tangible investment could be a huge playing factor here. Plus, they get to wear their investments. haha! Kidding aside, I guess its the "old-fashioned" habit in them and the "if it ain't broke, don't fix it" mentality. Add to that the fact that there are some who are too stubborn to learn about more modern investments such as crypto.

mia khalifa

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I think they really like investing in gold and silver because in my opinion, people like that do not know the benefits of having and investing in cryptocurrency, they still invest themselves in having goods that have such physical properties.

Sakira72

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Gold and silver are precious metals that have high value, precious metals are more likely to increase in value and also have very little risk. I think they are afraid of risk so they prefer to invest in precious metals rather than cryptocurrencies.
Undecided

BitSat

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Gold and Silver is easily liquefied. I think that is why older generations tend to prefer to invest in precious metals because the form and type of other investments have a tendency to be more difficult to liquefy or can only be claimed at certain times. Unlike the case with Gold and silver investments that provide flexibility for these investment holders to be able to withdraw it into cash in a relatively easy way and a relatively short time and more flexible than other types of investment.

jeremypwr

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As others have pointed out, it's the fact that it's more old fashioned and something they have grown accustomed to over the years.

With something like Bitcoin and other crypto, there is a new/different skill set for investing; something that elderly people might not be familiar with or willing to learn about.

There's also an old expression: If it's not broke don't fix it.

I think this mentality also factors into why elderly people stick with investing in gold and/or silver.

max fray

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Quote from: squatz1 on July 09, 2018, 12:05:13 AM

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

Gold and silver are the oldest currencies in the direct meaning of this word - they have been exchanged for goods and services for several thousand years. So why should unknown and unstable technologies like crypto or stock market take the prevalence of precious metals? I think these older people are quite right in their choice, and if I had some free money I would make the same investment.

MoreMoneyHunt

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IQCash

Apparently, most people live and appreciate things they can see and touch. Also, most of the old people are not well informed about the existence and concept of crypto. Bitcoin is just 9 years and i believe most old people did not meet it during the years of hard investment.

muddy waters

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Quote from: squatz1 on July 09, 2018, 12:05:13 AM

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

I think older people prefer investing in precious metals just because it's their habit.
The other reason is that they are not flexible enough to know more about other ways of investment (securities, shares, cryptocurrencies, and such like).

bocah cilik

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I think that happens because they believe that gold can only be mined, while the Gold mine has only a few limitations and cannot be created using technology, and the price of gold always increases over time, no doubt Gold is a long-term investment that parents can do . Because they don't understand about Cryptocurrency investment.

Dtony

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Quote from: Xenophoto on September 05, 2018, 09:36:01 AM

Quote from: Dtony on September 05, 2018, 07:06:00 AM

My parents prefer real estate and gold over the stock market and crypto. They do have a bunch of various stocks just to diversify and have zero crypto. It’s too speculative according to my dad and my mom had no clue haha.

But it makes total sense to just continue investing in real estate and gold since it's what they've been doing since. Since they haven't stopped investing there, then probably they think it's a good way to store money, right? There's no point in investing in bitcoin if they have no idea about it and they probably are too busy to even try understanding it. Bitcoin is too volatile and you have to watch the price everyday. You also have to keep up with the latest news to see if there's an incoming dump or pump in the price. It's too much work.

I think that's what your dad meant by that unlike real estate and gold which have been proven to be profitable in the long run and doesn't really lose value. Gold surely will not lose value unless they find a new mineral that is less scarce and has better properties than gold. Real estate, loses value depending on what happened to the neighborhood. Sometimes it becomes zero value as well when the town has suddenly become a ghost town for some reasons.

Good point. They are doing great off the real estate and pull in 5k+ a month in profits. It’s pretty nuts. They are just pissed that they didn’t buy more houses back when the prices were so low. None of the homes were flooded during Harvey so the values all jumped like 15-20% overnight.

reda

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Gold and silver is a long time process. It increases every day. Both of price is never down. So people buy and hold it. Now it old investment. Nowadays more investment in the marketplace. But most of the people don't know how to invest. Now cryptocurrency is the best future investment. So people follow the crypto. It also any time to high the price. People wait for the price increase. People hold the coin long time.

Dontme

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Quote from: squatz1 on July 09, 2018, 12:05:13 AM

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

Because it has assurance that it will have more value in the future. Gold, Diamond or silver is already popular in value since in the time of our ancestors. You cant avoid the thing that some people value Gold than food sometimes.

rricksu

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I believe , nothing will remain as permanent so they invest for the future use. What if the gold or silver will not be abundant for the next years? The demand and the supply has something to do with it. If the supply of the gold and silver is less, so the price goes higher than it cost when it was abundant. As simple as investment.

Topic: Why do older people like investing in Gold/Silver? - page 13. (Read 5280 times)