24 Aug Why Invest In Gold?
Most of us millennials, born between the years 1980 to 1996, seem to understand why our parents are always more of saving their hard-earned money, and not spending it lavishly for their own enjoyment or pleasure. This could be by and large because of the time period of the Great Recession that we experienced between 2007 and 2009. Although India did not fall too bad during those times of recession, but the period of the most severe economic and financial meltdown definitely taught us the importance of money saving.
But yet, not all millennials (those who were too little to understand the Great Recession) and not anyone of the Generation Z, until a few months back understood the reason and benefits of saving money for the future. We always saw our parents earning hard, and then obsessing to exchange all that money for only a few gold coins. It would have been irking to understand why they wouldn’t use that money to spend more, travel more, or live their lives more. And, the only answer we could get to these questions would be that the investment in gold can be of big help in the future times of crisis or requirement. But, why think so much about the future, when the present is such a beautiful one, and everything seems to be just so perfectly fine!? Well, our parents well understood it; but it took the great Coronavirus pandemic to have all of us to understand the theory!
How the Coronavirus taught us?
Although the Great Recession did not impact our Indian finance as much, but the Coronavirus pandemic has definitely had a major impact on all of those who live today. Today is one of the highest levels of unemployment among young people, where many people are being removed from work, while the others are receiving only a percentage of their pay. On the other hand, everything is becoming so expensive that it’s becoming difficult to balance the earnings and expenditures! Many of us actually have to sit at home and spend from whatever we have saved over the years; and now we definitely understand what our parents meant by our investments helping us in times of crisis.
Why do people invest in gold?
Seems like you’re all ready to save whatever you can from now onwards, for your own very unpredictable future, and the future of your kids as well. So, what would you invest in? Gold! Gold is one of the rarest items that is both a luxury as well as a necessity. While we “can” live without gold, the precious metal is equally “necessary” when we want to live in a society. Gold has its presence marked since ancient times, and continues to do so even today. And, this is why people, especially in India, have been so inclined towards investing in gold. It could be gold jewellery that can be worn everyday; gold that can be worn only on special occasions, gold coins that can be gifted, gold bars that can be saved for reselling in the future; it could be anything “gold”.
Are you ready to invest?
Most families invest in gold, which serves as a lifeline when they want to pursue further studies, shift abroad, start a family, buy a new home, start a business, or even help run the family during crisis like the Coronavirus pandemic! The cash one can receive in exchange of gold can really prove to be a huge helping hand. Gold thus proves to come in handy to save us from any kind of catastrophe. So, the next time you’re willing to spend all your earnings on a foreign tour, a trip, a vacation, a not-so-required luxurious wedding, or anything else, remember that balancing between the required and the optional is important; and balancing between living in the present and preparing for the future is essential. Enjoy your present, but don’t forget to plan for the future. And, for the best plan and preparation, you can always invest in gold, the metal that’s never going to lose its value. And, if you are in need of some jewellery because you don’t have one that you can wear to impress, you can always invest in some jewellery made at Aura Jewels, the most admired customized gold jewellery shop in Bangalore. This way, you’ll be utilizing and investing at the same time!