Updated over 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?
Most Popular Reply
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.