As someone who has struggled with money for a large fraction of his life, dealing with finances has always been one of those aspects of life that I had to get good at no matter what. It’s not like my management skills were poor per se, but getting access to money ever since I was a young adult was really difficult.
Once I got my hands on a job that I enjoyed and was good at, everything started to change and I definitely perceived a huge difference between my previous lifestyle and the one I was now able to afford.
But something inside me told me to be careful regardless of my current state of affairs. Like a sound in the back of my head whispering to me, telling me to prepare myself for the worse.
Of course, the struggle of deciding whether to invest or save money was definitely there, but one day I decided to start saving considerably more money than before, and even though my monthly expenses were reduced drastically, I didn’t actually perceive that big of a change in my level of happiness and the things I could enjoy. Maybe it was because the things I bought are still present to this day, so you could say that they were long-term purchases.
Yet… The more money I started to accumulate through savings, the more I felt like I was actually losing my time, even more considering that a lot of my close friends and relatives were investing in stocks and other forms of investments and making money through them.
For that reason, I decided to relocate a fraction of my money, and start investing. I quickly notice some things, including:
- Although investing can definitely be better for generating money, it is not something that will work 100% of the time. There are risks involved in investments, thus, making it a practice that requires a certain level of knowledge and experience.
- Saving was definitely a much better option for short-term goals that didn’t require an astronomical amount of money, thus, I kept on saving some money, while using a small fraction of it for investment adventures.
- And lastly, I misunderstood the nature of stocks and assets such as gold and silver.
Understanding More About Libertad Coins and Precious Metals
You see, I used to believe that investing in precious metals was the way to go for beginner investors. Although this is true to a certain extent, it is not something that will generate a large profit in the blink of an eye. In fact, investments in precious metals are more perceived as a form of securing money. That is why, after investing in Mexican Libertad coins, I found myself a little perplexed by how gold and silver works.
The reason is very simple: the way precious metals function in the current market is very unique. Most of the time, people generate money through investments with processes that involve purchasing, selling, and exchanging stocks and assets. Ideally speaking, you should buy an asset that is low in price then sell it when its price rises, or exchange it for other assets that are more valuable or are on the rise.
However, precious metals are a little… Too stable. Meaning that, although their value can definitely change in set periods of time, the changes are not that big as to generate large amounts of profit. The reason why they are mostly perceived as accounts that protect your assets is because of this, making them a great option to save money for long periods of time without suffering from the consequences of inflation.
Investments and Profits with Precious Metals
That being said, it is possible to generate profit with precious metals, especially if you are experienced and trained in the field. Things like IRAs (or Individual Retirement Accounts) that allow the use of precious metals as currency, facilitate various aspects of investing, making it a much feasible practice for new beginners.
The thing about generating profit with precious metals is that you need to constantly monitor the market and regularly sell and purchase assets to, little by little, generate profit. This can be complicated and tiresome for new beginners, but it is a very good way of amassing experience thanks to how affordable some precious metals are, including Silver and Copper, the beginner assets by excellence.
However, if you want to venture into the world of investments and metals like silver and copper, there are some things you should pay attention to.
Some Advice
The greatest and most common problem people have with investments is that they don’t consider their income and financial stability before risking their money in investments. When I started investing in precious metals, for example, a part of me was sure that I was going to lose money in the process. This was especially more present in my mind when I investment in more abstract things like Cryptocurrencies… But I was sure that this was the healthiest way of approaching the adventure.
I was more than prepared for failure and losing said money, and although my adventure was great and I had a little luck, I still believe that investing money that I didn’t actually need was the right thing to do. You should never invest money that you need or will use in case of emergencies, just because of the risks involved in all aspects of investing.
Another thing to add is that all forms of investments have very particular aspects to consider. When it comes to precious metals, choosing a specific asset is absolutely important. If you are curious and want to research more about them, you should definitely click here for more information.
Ideally speaking, you should practice and learn more about investing before truly engaging in the adventure. Don’t jump right away just like I did. Practice with virtual portfolios and gain both experience and confidence, then start your adventure when you feel you are ready!
