This should be easy enough to write, I know plenty of people who don't want any gold. In fact just last week a friend told me that she was getting married and that gold wasn't for them in the same conversation. They both work, and both are looking for ways to earn more money (and obviously with a wedding coming up they will need a lot more of it), so why not gold and why not now? This got me wondering, there are at least 5 reasons why you maybe wouldn't want to hedge against inflation, protect your current assets, by saving or exchanging in gold, let's check them out:
All of these are good valid reasons. The reality is that we don't want the GOLD, we want what it can provide us with,
(ok,maybe we want just a little because it's pretty).
I met Howard Olsen, a business management training expert from Canada, and he gives a great analogy of a guy or gal with a drill. Ask yourself, why do they have a drill? Obviously to make a hole, so is it the drill they want, or the hole? The hole. Why do they want the hole? Lots of possible reasons, but let's say they need it to put up a shelf. Do they want the shelf? Kinda, maybe, but the real reason why they need the shelf depends on the person. The guy perhaps needs it because he told his partner he would do it a long time ago and finally she gave him an ultimatum that he couldn't go play golf with his friends until he put up the shelf...Does he want the drill, no. Does he want the hole? No. Does he even want the shelf? Possibly not, but he wants the outcome and this is what drives him (no pun intended). The woman's reason for wanting the shelf could be for example, to make more space available, or, if the shelf was in the laundry, to keep the cleaning products off of the floor for safety.
THIS BUSINESS IS NOT ABOUT SAVING OR SELLING GOLD
As another example. I have an old friend who inherited money, which he recieves in the form of a passive income via book royalties. Does he need the money? No. Does he want another job or business taking up his time? No! What's the point of having royalties if you cannot find time to enjoy them, right?! So why was it a good idea for him?
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