Retirement Guys: Gold, Jerry! Gold!Written by Nolan Baker Mark Clair | | email@example.com
I (Mark) just read an article on whether or not gold is a good investment. Some of the phrases and terms in the article were “losing investment,” “finding a bottom, “ “new momentum,” “be patient,” “the sell-off presents opportunity,” “bullish long term,” etc. There are people who always seem to be looking for that big windfall. I have heard many folks tell me the story of how they invested all their money in some “hot tip” and lost it all or at least a lot of what they had. They seemed resigned to the idea that they can never get it right and always seem to jump into something at the wrong time.
What caused them to make what turned out to be a bad decision? Emotion. Getting caught up in the excitement of hitting it big, or not wanting to miss out on what seemed to be a once-in-a-lifetime great opportunity. Other folks I have met did strike it rich. Perhaps not in gold, but in whatever they had invested in at exactly the right time — a stock that went bonkers for example. These folks had a certain amount of arrogant confidence that they had known what they were doing. They were very pleased with themselves. I probably would be, too. I wonder though, how much of their success was luck and how much was skill.
For me, the word gold triggers the mental image of “striking gold,” and images of when the gold rush happened in our history — folks rushing out west to find “gold in them there hills.” I am not saying that gold is a good or bad investment. If you have invested in gold during the past couple years, you have seen a big return on your money. If you have figured out how to hit the big time and are sitting pretty, more power to you. For most of us, this is not the case. So, unless we get lucky, it is wise for us to play it smart and not make some emotional risky decision.
Maybe we should look at the idea of gold a little differently. I am a big fan of the “Seinfeld” because of my warped sense of humor. I have cracked up many times at the antics of Jerry, Elaine, George and Kramer. One particularly funny episode was when Jerry’s fellow comedian Kenny Banya viewed Jerry as a mentor. He would hear some of Jerry’s comedy bits and say, “Can I use that, Jerry?” Jerry would roll his eyes and say, “Ohhhh, alright.” Banya would them exclaim, “That’s gold, Jerry! Gold!!!” I would absolutely love it if, as my mom used to say, “My ship came in.” That would be gold. If it doesn’t happen, though, there are other forms of what I would consider “gold.” I think gold can be many things. Things like getting good advice from your 95 year-old grandpa who has been around a lot longer than you. Or going on a vacation with your family to see the beauty of the world and spending quality time with loved ones. Or offering a helping hand to someone in need without expecting a thank you in return. I recently got to check something off my bucket list when my son Brett took me to Fenway Park as a Father’s Day gift. Gold.
Here is some Retirement Guys gold:
- Have a purpose.
- Have a plan.
- Have a good plan.
- Include the elements of faith and family in your plan.
- Think it through as much as possible.
- Seek out qualified advice.
- Don’t invest in too much of the wrong kind of gold.
- Seize the day. Tomorrow may never come.
Now that’s gold, Jerry! Gold!!!
For more information about The Retirement Guys, tune in every Saturday at 1 p.m. on 1370 WSPD or visit www.retirementguysnetwork.com. Securities and Investment Advisory Services are offered through NEXT Financial Group Inc., Member FINRA / SIPC. NEXT Financial Group, Inc. does not provide tax or legal advice. The Retirement Guys are not an affiliate of NEXT Financial Group. The office is at 1700 Woodlands Drive, Suite 100, Maumee, OH 43537. (419) 842-0550.
Tags: Retirement Guys