Updated about 3 years ago on . Most recent reply
Switching to precious metals
Can anyone give me the pros and cons of switching my 401K accounts into precious metals?
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You mean switching your entire portfolio to precious metals?
I don't see any pro's in that. Other than a (temporary) sense that you've "done something" to stop the bleeding. Precious metals are wildly volatile & in general, not a good investment. They are an inflation hedge.
The best quote I've ever heard after 15 years as a financial planner is, "an ounce of gold will buy you a nice suit. If you hold it for 20 years, it'll buy you a nice suit." IE - it doesn't appreciate, it just hedges inflation.