Daily Gold Silver Update

Americans Recommended to Start Emergency Funds

In light of record layoffs, plummeting stocks, and a real estate market that’s become nearly impossible to make any sense of, more and more financial advisers are stressing the importance of starting an emergency fund.

Laura T. Coffey, a financial adviser and MSNBC blogger, recommends putting aside at least enough cash to cover three to six months in living expenses, but the reality is that that cash might not be worth what it is today six months from now.

Earlier this year, we saw an eighteen percent boost in demand for investment gold, and similar numbers in silver. What this suggests is that investors are finally beginning to wise up to the fact that you just can’t rely on cash. Most certainly not in the middle of a recession.

Traditionally, Americans are advised to put their emergency money into safe investments, like stocks (snicker) and real estate (chuckle), but as we’ve seen in 2008, it’s become easier to lose your investment on either of those options than it is to lose a wad of hundreds stuffed into your mattress.

In 21st Century economics, we’ve learned the following: You can’t rely on stocks, cash, real estate, or, more and more, even the banks, when it comes to long term investment and keeping your money safe. In other words, silver and gold may become more and more the primary investment for Americans who are simply fed up with the guessing game of investing in the 21st Century. Historically, silver and gold, even at their most turbulent, don’t hold a candle to the mess that was 2008 in stocks, cash, and real estate. With silver at 9.550 and gold at 781.30 as of the market’s close on December 2nd, both metals have proven to be pretty solid (if you’ll pardon the pun) throughout 2008.

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