Tag Archives: personal finance

The Misunderstood Metal That Can Help You Leave a Lasting Legacy

Gold is a commodity just like any other commodity.

Picture of a proof American Gold Eagle.

The American Gold Eagle is the most popular gold coin in the US.

If you’ve ever talked to a retail level financial advisor that was recommending stocks or mutual funds you’ve probably heard this exact position on gold. There is a mountain of mainstream media propaganda that reinforces this position as it attempts to convince you to tie up all your assets in tax deferred retirement accounts. I’ve read a lot of it myself.

Gold is money and nothing else. -JP Morgan source.

If you’ve ever seriously considered gold as an investment you’ve probably come across this quote from a famous banker. Many advocates of gold say similar things. Yet we know gold is not money. We no longer buy groceries or cars with gold coins.

The truth is that gold is not like any other commodity. Gary North’s recent article explains some of the misstatements surrounding gold made by those interested in trading US dollars for gold.

Gold Has An Almost Permanent Durability

Gold stands the test of time. It doesn’t rust and it doesn’t deteriorate. Coins found at the bottom of the ocean submerged for hundreds of years are just as marketable as recently mined gold.

Is there any other tangible good or commodity that can be stored indefinitely? What if you wanted to purchase a year’s supply of gasoline at today’s prices? How would you store it?

Gold Has A Long History Of Value

Have you ever heard that a thing is only worth what someone is willing to pay for it? North explains this in economic terms by stating that people impute value to an object. People have valued gold for thousands of years. A two thousand year old one ounce gold coin could be traded for roughly $1400 worth of goods and services today. What other physical object could last that long and still be used to purchase goods and services? Gold is something that could be passed on to future generations.

Action Plan

Whether you already own gold or have never considered it as an investment, read North’s article. If you are curious, find a local coin shop and go in to see what a 1/10th ounce Gold American Eagle looks like. You could also feel the weight of a 1 ounce Gold American Eagle while you are there.

Do you think gold is a barbarous relic or a valuable commodity? Let me know in the comments section.

Three Reasons to Get Rid of Credit Card Debt

Picture yourself paying cash for your next new computer. Would you enjoy it more because it was completely paid for from the moment you took it home and plugged it in? Credit card debt can hang over your head like a rain cloud and cause undue anxiety. This will inhibit the enjoyment of life. I know that is how I felt before I paid off my credit cards in full. Below I list the top three reasons to eliminate credit card debt.

1. Start Saving for Retirement

In order to retire, you must develop a positive net worth. It is important to set aside some of the surplus during times of abundance so that it will be available later. If you have credit card debt that carries an interest rate into the double digits, there is no safer way to make 10% plus on your money than paying off your credit cards.

2. Reduce Complication

How many bills do you pay every month? Every monthly bill that can be eliminated makes life simpler. When a card is paid off there will be no fretting over late fees if the bill is not paid on time. There will also be one less thing to worry about and less paper to track.

3. Peace of Mind

The sense of inner peace that comes from debt elimination is priceless. Throwing off the debt yoke will enable you to move forward unburdened. The money saved on interest can be used to establish savings that will help when an unplanned expense occurs.


Credit card debt profits the large banks that issue the cards and is detrimental to the net worth of those who choose to carry a balance. You can choose to pay off those balances and opt out of credit card debt.