Are you planning on investing in precious metals to preserve your wealth in the future?
If so, then buying gold bullion has to be a major part of your stacking strategy. Gold, particularly gold bars, has always been used as a form of currency as well as a store of value.
So, how do you go about buying gold bars as you’re starting your journey toward financial freedom? What’s the best stacking strategy for beginner investors?
Here’s how you go about gold stacking:
One of the major advantages of buying gold bullion is that you can buy gold bars in various weights. As a beginner investor, you want to start small by buying 1-gram gold bars.
Regardless of the current financial stability — or lack of it — you can often find 1-gram gold bars for under $100. Start by stacking these smaller gold bars to get comfortable with buying gold bullion.
Depending on your cash flow situation, you can buy 1-gram bars each month or each week. If you can afford to do the latter, then you should start buying as much gold bullion as possible before prices rise.
What Makes a Great Gold Bar?
You want to ensure that the gold bars you buy are reputable. Make sure that the brand name of the company or mint is stamped on each gold bar.
The gold bar should also include the weight information, purity level, and a serial number. Without these, it’s possible that you’re buying a fake gold bar.
If possible, you should take your gold bar to your local jeweler. They’ll be able to test the gold for its purity.
You can also try to attach a magnet to the gold bar. If the magnet sticks to the gold bar then it’s a fake bar!
How Much Gold Should I Own?
The amount of gold you should own is always up to your personal preference. However, as a general rule, many financial experts suggest keeping 10% in gold bullion.
You have to consider the following when deciding how much gold to buy:
- How quickly can you liquidate the gold into cash?
- How often are you in a situation where you’ll need to liquidate your gold?
- Do you have ample space or access to storage facilities for your gold?
- Do you wish to travel or relocate?
- If so, consider the challenges of carrying your gold with you
Regardless of what you choose, you’ll always benefit from buying gold bars to protect your wealth.
Start Gold Stacking Today
Now you can start gold stacking and work towards building your wealth and protecting against an economic crisis!
You should start by buying gold bullion in smaller weight. After you get used to buying 1-gram gold bars, you can graduate to buying heavier weights. Make sure you’re consistent with buying gold bars at least once per month.
You should also assess the quality of each gold bar to ensure it’s authentic. Consider keeping at least 10% of your portfolio in gold bullion.
You can find more tips on buying gold bullion on our blog!