How Much Do I Need To Start Investing in Gold As A First-Time Investor
You may have a plan to invest your money in gold due to its value. How much do I need to start investing in gold is the most common question from beginner investors? The good thing is that you can start this investment at as little as $150. You can begin by collecting the small gold bars and coins. Find out more about the ways to invest in gold as a beginner.
The Investment Percentage
There are no exact standards on how much money you have to spend for gold investment. You may start by spending only 1% of your money to buy gold bars or coins. Some experts also suggest new gold investors expense at least 3% of their funds to gold.
Advanced investors even allocate up to 20% of their funds to gold. Remember! The price of gold bullion is stable, no matter the economic condition. It makes gold different from stock and shares. You are also the owner of the gold if you buy a bar of physical gold.
You can see the item, keep the gold by yourself, and sell it anytime you want to get a high return. So, how much do I need to start investing in gold? It is entirely up to your personal preference, confidence, and affordability. The most important thing is that you start right now and make it your habit.
Buy Small Gold Bars and Coins
You may get confused about whether to buy a gold bar or a coin. Buying gold coins is good for first-time gold investors. The reason is that the cost is more affordable than gold bars. Let say you can have 1/10 oz of the Royal Canadian mint coins for less than $150 USD.
You may have money to buy bigger gold bars, but experts suggest you buy small gold bars and coins first. Selling 1 gram gold bars is easy to do instead of bigger gold bars. It is a good strategy if you need to sell the gold bars immediately. You also don’t need to think about spending extra money on storage. Small gold bars and coins are easy and safe to store at home.
Consider Gold as Long-Term Investment
Gold is perfect for a long-term investment. The longer you keep the gold, the higher the return you earn. Experts explain that gold is good for at least 5 years up to 20 years of investment. It is also the reason why you have to start small.
You are about to keep your money in a solid form for many years. Make sure that you have enough cash to fill other needs, so you don’t have to sell the gold right away. Selling bigger gold bars also takes more time than the small ones.
The point is that you have to start investing in gold IRA right now. The sooner, the better. The question about how much do I need to start investing in gold is not the most crucial thing because you can start with the cheapest one. You can even be a gold investor with only $150. The most important thing is to keep investing in gold as your habit until you get the return you want.