Paul Mladjenovic - Investing in Gold & Silver For Dummies

During 2019–2020, I told my clients and students that precious metals are (and will be) a necessary part of a healthy and growing investment portfolio. I don’t tell people that gold and silver are great considerations because I’m the author of this book; I wrote this book because I thought that 2020–2022 would be a great time for those two timeless metals. The time is now, and the place to be is in gold and silver (and investments related to them such as stocks, exchange-traded funds, and other vehicles).

Investing in Gold and Silver For Dummies comes at the right time and place for both me and you. As I write this, during the opening rounds of what may become a great bull market (cool!), there’s plenty of information to share with you on these enduring metals that have been a store of value for thousands of years yet still are as fresh and as vital as today’s varied events and headlines.

Nearly anything (or almost everything) a beginner or intermediate investor needs to know about gold and silver is inside this book. At the very least, I also include those analysts and experts who I think know more than I do so that you have what you need at your fingertips (or your screen) to make knowledgeable decisions with gold and silver. As with all For Dummies guides, you won’t have to read this book from start to finish like so many other books. If the only thing you’re interested in is how to buy gold or what you need to know about investing in silver, the information is here, easily found, and ready to be read and comprehended in minutes.

A quick note: Sidebars (shaded boxes of text) dig into the details of a given topic, but they aren’t crucial to understanding it. Feel free to read them or skip them. You can pass over the text accompanied by the Technical Stuff icon, too. The text marked with this icon gives some interesting but nonessential information about investing in gold and silver.

One last thing: Within this book, you may note that some web addresses break across two lines of text. If you’re reading this book in print and want to visit one of these web pages, simply key in the web address exactly as it’s noted in the text, pretending as though the line break doesn’t exist. If you’re reading this as an e-book, you’ve got it easy — just click the web address to be taken directly to the web page.

Dear reader, I make a few assumptions about you. No, you’re not a dummy, but you want more information on the topic of investing in gold and silver. You have some very basic knowledge about investing, and you understand that diversification means considering investments beyond merely stocks or bonds. You also understand that inflation and other pressing financial concerns and risks are problems of modern life and that investing in gold and silver as a diversifying strategy is a good consideration for both long-term investors and speculators in the turbulent and uncertain 2020–2022 period.

I include some handy icons that you may notice in the margin of this book. They point you to certain types of information, so be sure you know which is which.

I include some text that tips you off into certain directions — this icon makes sure you notice. These aren’t shady tips of the “Psssst, Mac, have I got a tip for you” variety; they’re joyfully more like “Holy smoke — such a great tip!”

Although I’d like for you to remember everything I say, I do have two kids and realize that’s a losing battle. However, if you see this icon, be sure to ingrain this info on your brain.

Just like I want you to remember everything I say in this book, I’d love for you to do everything I say, but again, having two teenage kids, I can calculate the rate of return on that. But to truly stay away from pitfalls that can cause you serious financial harm, you should heed any warnings you see associated with this icon.

Just like any expert, I do have nuggets of knowledge that only participants on game shows like Jeopardy and/or my uncle from Bratislava could love. But I guarantee that after discovering the value of gold and silver and how they could enhance your portfolio, you could fall in love with some of this technical stuff, too. However, if you prefer, you can skip the info associated with this icon. This is the only icon that points you to info that you can skip if you choose to.

In addition to the material in the print or e-book you’re reading right now, this product comes with some access-anywhere goodies on the web. Check out the free Cheat Sheet for interesting statistics about gold and silver investments and questions to ask a dealer before you buy physical gold and silver. To get this Cheat Sheet, simply go to www.dummies.com and search for “ Investing in Gold and Silver For Dummies Cheat Sheet” in the Search box.

At this point … browse! Check out the detailed table of contents and go straight to those chapters that pique your interest. This isn’t a novel that you need to read from start to finish. It’s like opening your fridge and pulling out what interests you. (If you’re totally new to gold and silver investing, though, why not start with Chapter 1?)

As you watch the precious metals markets become more popular (for many good reasons), come back to this book and discover more information; you’ll be pointed in the right direction for more and better ways to profit from gold and silver. Good luck!

Part 1

IN THIS PART …

Discover why gold and silver are great additions to your investment portfolio.

Figure out your approach in gold and silver — investing, trading, or speculating?

Get a handle on what you should know (and do) before you invest.

Minimize all sorts of risk facing your money (and how gold helps you better than typical investments).

Chapter 1

IN THIS CHAPTER

Exploring reasons to consider gold and silver

Discovering strategies to use before you invest

Chaos. Mayhem. Crashes. Massive unemployment. Scandals and collapse. And that was only last week! The world throws plenty at us, and we must do what we can to get by. As they say, we can’t control the world, but we can control our response to it.

As a “Raving Capitalist” (I’m not kidding; that’s my website, too), I believe that building wealth and financial security is a two-pronged approach where you build your prosperity using both passive wealth-building strategies (having your money work for you such as with stocks, mutual funds, and options) and also active wealth-building (such as starting a home-based business in your spare time). You are your own greatest asset, so you can do plenty of things to assure greater financial security.