I want to say right off the bat that I respect Dave Ramsey for what he has down and how he has helped many people get out of debt. However, I have a bone to pick with him. Dave Ramsey and I do not see eye to eye on the subject of gold.
Dave Ramsey counsels people to invest in mutual funds. He tells them to avoid investing in gold. According to Ramsey, gold does not have a good track record. In fact, Ramsey is even in several radio ads telling people to sell all the “extra” gold they have laying around. I don’t know about you, but I don’t have any “extra” gold laying around.
In my opinion, gold is the smartest investment you can make, especially today. Today, gold reach an all-time high of $1,038.65 an ounce. That is a lot of money, especially in this economy. The dollar could go away tomorrow and gold would still be this valuable.
Gold has long been seen as a standard of value. Gold has been used all through history as money and has always been a solid investment. Why should now be any different today? Should you invest in an instrument that can fluctuate drastically over time (mutual funds), especially if an economy goes south; or should you invest in a precious metal that you will always own and that will always stay valuable because supply is so limited?
Please comment.
