Ok time to get off your butt and step out of whatever
comfort zone you thought you had. Its now or never. In previous posts we talked
about why you should be buying gold coins. Now we are going to discuss how to actually
do it. 

Step 1   Determine how much you can
afford to invest. Take  a look at your
finances and see how much you can set aside for investing. A good rule of thumb
is the 70/30 rule. So break it down this way. 

10% for saving

10% for giving

10% for investing

70% for everything else

Ouch! that sounds like a lot doesn’t it. If you are like
most people, you don’t have the 30%. But don’t give up yet. This is an ideal,
not a hard and fast rule. The point to start setting aside an amount every
month for saving, giving and investing. This is what we call paying yourself
first.

This is not a new concept.  
Most successful investors operate on similar ratios. I first discovered
the concept in Robert Kiyosaki’s book “ The Cashflow Quadrant” Robert so believes
in this concept that he instructed his accountant to deduct the 30% at the
beginning of the month, regardless of what bills needed to be paid. He would
use that pressure of the looming bill to force him to find ways to earn the
money. The accountant was very reluctant to do it, but Robert insisted. And
they were always able to meet their obligations.

Let me be very clear on this. I’m not advocating not paying
your bills, and neither does Robert. It is simply a matter of faith. You have
to believe that you can meet your goals, and you must be willing to pay the
price to make it happen. That’s the key. By paying yourself first, you are
taking action to create wealth.

Not everyone is at this level. I personally cannot do 30%
yet. But I am setting aside a percentage of my income every month for buying
gold coins.

In addition to the percentage that we are setting aside for
investing,  we  are also taking a percentage out of any
business income we have come in as well.

In conclusion, start taking action now. Set aside a fixed portion
of your income for the 3 pay yourself  first catagories. Even if you don’t enough to
buy gold coins yet, by setting aside this amount, you will be starting. I
cannot stress this enough. If you want to make a change in your life, you have
to do something different. You cannot do the same thing in the same way and
expect different results That’s insanity.

In the next post we will talk about finding a reputable
dealer

Yours in investing,

Michael Blaes

PS. Please share your thoughts by commenting below.

Wait!  I thought this
site was all about buying gold coins. Now we’re talking about buying silver
coins? 

Buying silver coins is a great way to enter the precious
metals market.  In this article we will
discuss the reasons why. 

Price point

The cost of gold is almost $1,000.00 per ounce. An
equivalent amount of silver is less than $20.00 per ounce. That makes it much
easier to begin investing in precious metals.

If you don’t have a lot of cash to invest, you can still get
started by investing in silver. Once you have collected enough silver, you can
easily change it into gold. Most experts agree that you should have around 70%
of your portfolio in gold and 30% in silver.

Volatility

In addition to the cost, what are some other advantages of
investing in silver? Silver is less volatile than gold. That means that the
price does not fluctuate as much as gold. Recently I noticed a small decline in
the price of gold and silver. The gold dropped almost $10.00 per ounce where
the silver only dropped about 10¢

The thing to remember is that the market is always
fluctuating. It rises and falls constantly. Sometimes it’s up and sometimes
it’s down. But is always on an upward trend. So keep your eye on the market,
but don’t be concerned about the day to day fluctuations. Remember this is
meant as a long term investment and not as a short term gamble.

So the first step is to start buying silver coins as you can
afford them. This will allow you to start benefiting from investing in precious
metals while still not spending a lot of money. Once your investment grows as
you add to it, convert some of the silver to gold. You can start with something
like a 1/10 ounce gold coin which you can get for about $100.00 or so at
current prices. But I would still keep some of your portfolio in silver.

Yours in Investing,

Michael Blaes

PS. Please share your thoughts by commenting below 

PPS. Watch for an article where I will discuss what kind of
silver coins you should start with if you are on a budget.

I told you in my last post about paying yourself first and I focused on investing.

Now I want to make you aware of a few things concerning buying gold coins.

Cost

When you buy gold coins as opposed to bullion bars, the coins are more expensive .Why? Because these coins cost more to manufacture. While this is a bit of a drawback, the befefits of owning them far outweigh this one minor challenge

Collectibility

Gold coins hold numismatic value, or collectability as well as the value of the metal itself. So, if you are
buying gold coins in order to build your collection, you will want to keep date in mind. The older the date, the more valuable the coins are. A good example of a collectible coin is the American Eagle Gold Coin. (Pictured here)

Preserves Wealth

Another benefit of buying gold coins is its ability to preserve wealth. You
see, unlike stocks which can drop rapidly overnight due to human reaction, gold coins
can protect your wealth and often grow it. And one last thing to keep in
mind when considering buying gold coins is the liquidation factor. You see, as an asset, gold coins are the easiest to sell. And often, gold coin collectors will buy a coin, let it go up in
numismatic value, then turn around and sell it.

So, if you are considering buying gold coins, I believe that you would be
making a wise investment. Especially when you consider the rate of inflation
that we are experiencing now and might in the near future

Yours in investing, 

Teresa Blaes

PS.  Stay tuned to this blog, and I will outline the steps that you need to
take when buying gold coins.

PPS. Also, if you have any thoughts, please feel free to leave a comment below.