How can I resell it when I need cash?
A friend of mine in Nigeria asked this. I was surprised to learn that they don’t have gold exchangers there. Nonetheless, let’s take a stab at answering this question from a few angles.
Why are you living your life unprepared for an emergency?
When I see the phrase “need cash” I am led to believe I am speaking to someone who does not have enough monthly cashflow so that their bank balance is increasing – the amount of monthly expenses is greater than or equal to their income. This is not surprising. Even in a wealthy nation like the USA, most people are living hand-to-mouth and even a $500 emergency would force them to dip into credit/loans.
So one reply to this question is: “get your house in order and do something that will create monthly cashflow in excess of your bills so that you bank balance is growing every month”
Now, Mintbuilder, is an excellent option to fix the situation you are in. Because you are not only saving in gold but you are getting compensated for building a team. In this video I show you the power of working with just 5 people so that you have $20,000 per month in passive residual income in 2 years. And income with Mintbuilder pays to infinity, both wide and deep. That video only shows you a few of the income streams.
If you want to talk about a real emergency, it’s when all your cash is worth nothing
Time after time, fiat currency has gone bust. It’s happened in Germany 3 times in the last 100 years. It happened in the US during the civil war and in this video, you see the last publicized currency hyperinflation case.
So the question about needing cash is good, but an equally important question is need real wealth instead of declining dollars/Naira/yen/euros/pesos, etc.
Gold is the only form of currency accepted worldwide across all human history
It is indeed unfortunate that there are no gold exchangers in Nigeria. But if 5,000 years of history tells us anything, you will be able to travel anywhere in the world with your gold, at any time in the future and be able to pay with it because gold preserves value for thousands of years. As I write this the Russian ruble has lost 20-40% of it’s buying power because of the Ukraine-Russia war…. but you know what? If those Russians/Ukrainians had stored gold they could escape to somewhere else in Europe with their wealth. Another compelling universal payment method is Bitcoin. And it is superior to gold in portability and fungibility (ability to be divided). Which brings us to our next topic…
Diversify, because no one knows the future
Let’s say you have $100/mo of free capital. What to do with it?
10% into risk high yield investments
50% into your “need cash” fund
25% into your gold nest egg
and do whatever with the rest. But put all your energy into finding those 5 people so that $100/mo of free capital turns into $20,000/mo of free capital. There are people around you at all times and most of them are in your same situation and most will not want to change and that’s fine. But if you bust your ass, then eventually you should break through
So there you have it
I hope this has shed some light
The question is definitely worth looking into. Hopefully it motivates someone to spend their free time with a focus on what they want 2 years from today.