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Many people don’t realize this but there are actually differences between wealth, you can have good wealth and you can also have bad wealth, and if you’re wealthy but not careful enough to know about the differences that exist between these two you’re gonna end up losing money, a lot of it actually, depending of course what kind of wealth exactly it is that you have.
As an example of bad wealth, let’s have a look at real estate. Now don’t get the wrong, some real estate is good wealth, but not all of it, and banks learned that just before the real estate bubble that burst back in the 08. What happened then is that the overall value of the housing tanked, millions of homes was foreclosed and the market was overflowed with an influx of new housing to buy, while on the other end the number of people who were interested in buying the newly available housing was lower than ever before.
At the time, a lot of other people who have invested in housing development also lost money, lost their wealth that they had invested in these commodities. When they invested money into housing, they transferred their wealth into this particular investment, and they gambled if this investment is gonna be good or not, hence they had either good or bad wealth.
Precious metals are always a good thing to invest in, they are one of the rare things that in fact are good wealth, because they will not lose their value entirely. Price might go down for a certain period of time, but it’s gonna go up very shortly after it falls, that’s why it’s said that gold is a excellent store of value. A gold bar or a gold coin will not go bankrupt, the government won’t be needing to bail out gold, the only thing that government can do it take your gold, but that’s a whole different story. If you’re interested in persevering your wealth, invest in gold.