Whether you save money from your paycheck monthly or invest your money elsewhere, saving up for your retirement is crucial. You never know what the future holds for you so it’s better to be safe than sorry. Moreover, you wouldn’t like to burden your children with taking care of you and nor would you like to rely on your social security. Therefore you should start investing at a young age so you don’t face any problems when you’re a senior citizen. Let’s take a look at 4 precious metals you should invest in for your retirement.
Gold is not only a glittering metal that has a unique appeal to offer, but it also has more than looks to provide a purchaser. For one, gold is the only metal in the periodic table that doesn’t oxidize. Moreover, it also has the highest corrosion resistance of all metals. It’s also the most malleable and ductile of all metals. It’s no wonder why gold is so sought after. This metal is also scarce when compared with the prevalence of other metals. These are great reasons why you should invest in gold. You can do so by either purchasing gold itself, or buying stocks in gold miners and invest in gold through exchange-traded funds.
You may be thinking, “Is silver a good investment?” As a matter of fact, it is. Similar to gold, though not better than it, silver resists corrosion and oxidation. Silver is the best conductor of heat and electricity of all metals. If you plan to invest in silver, you should keep in mind that it is quite affordable and you could be at an advantage if you ever plan to sell it in life. Moreover, a significant reason why you should bother investing in silver is that there is a growing need for it in the industrial industry.
Did you know that platinum is used to manufacture 20% of all consumer goods? Being a metal, platinum is known for its resistance to corrosion, excellent conduction of heat and electricity and its high melting point. New ways to use this durable metal are being discovered all the time. One benefit of investing in platinum is that its price is relatively stable in the market; it doesn’t fluctuate as much as the price of gold. Platinum, greyish-white in color, is widely used to make jewelry and even catalytic converters for cars.
You may be wondering why we included copper on this list. There is an ever-increasing demand for this metal because of the multiple ways it can be used. For example, copper is used to make wires to conduct electricity, jewelry, coins and alloys like bronze. This metal is now in limited supply and although you may be thinking it’s not as valuable as gold and silver, it’s fantastic properties and versatile uses are all enough to convince some people to purchase copper bullions as an investment.