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Friday, August 13, 2010

Wealth Preservation with... Gold?

Like the songs says "All That Glitters is Gold..."

With the economy still limping along, it seems that more investors are seeking safety in buying the shiny stuff.  If you watch (or listen) the CNBC, Bloomberg, or other financial networks, you know that every other commercial is someone trying to sell you Gold, Silver, Platinum or other precious metals.  There are even Gold-backed IRAs.

I remember when I was a boy during those long summer breaks, I would hear stock reports on the local news at lunch.  They would quote the price of gold, pork bellies, the Dow Jones Average and other things I really didn't understand.  However, I remember thinking that gold is pretty, everybody wants some, and it was only about $100 dollars an ounce. 

That was a lot of money to a pre-teen boy in the 1970s, but I could still put my head around it.  I would accumulate amounts like that doing odd jobs, and thought to myself "I could buy gold!".  I never did, of course, because I didn't know how to and grown-ups wouldn't take me serious anyway.  If only I had figured out a way...

Today, gold trades around $1200 an ounce.  It is fairly easy to buy, either in gold shares, bullion or coin form.  It is also easy to liquidate, unlike my other favorite asset, real estate.  Why not add some to my portfolio? 

I finally decided to act!  I contacted one of the gold merchants I heard on the media, and they sent me a nice PDF brochure explaining the process of gold ownership that I am sharing with you on this link:  www.pda400.com/PDF/GoldGuide.pdf

I don't think they'll mind some free advertising...

Once I buy, I'll share what the experience was like.  I'm also going to see how easy (or difficult) it is to sell the stuff in my local area.

Happy Prospecting!
JM Kelly, The IT Entrepreneur

Monday, August 9, 2010

Buffett on World's Growing Wealth


As always, I continue to follow the advice of highly successful people to emulate.  Warren Buffett is one of the people who I hold in high esteem.  Coming from a middle-class family to rise to one of the richest people on the planet is truly an amazing feet!

If you haven't done so already, I recommend reading (or listening to as I did) The Snowball: Warren Buffett and the Business of Life, which chronicles the life and rise of "The Oracle of Omaha".

Recently, I came across an interview in The Wall Street Journal entitled Buffett on World's Growing Wealth, in which Mr. Buffett details how he plans to convince America's billionaires to publicly commit to giving away at least half of their fortunes.

He is not only rich in wealth, but truly philanthropic as well.

JM Kelly, The IT Entrepreneur

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