Buying Gold and Silver for Beginners (How To)
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- Опубликовано: 4 июл 2024
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Here's my "how to" guide to buying gold and silver for beginners. If you've never struck out into the world of investing in precious metals, or even investing at all, the thought of knowing where to start may be a little daunting.
But don't worry - I'll hopefully clear up a lot of that confusion in this video! I cover the difference between just trading precious metals like gold, silver, platinum, and palladium, and having them actually owned by you; that you either keep personally, or that's stored for you in a safe (and insured) vault around the world.
GOLDMONEY: www.goldmoney.com/w/abun
This is the service I've personally used for years to store precious metals in vaults around the world for years. The link above is an affiliate link, so please use that if you're considering using Goldmoney to help support this channel.
0:00 - Introduction
0:47 - The way I look at investing
2:20 - Why I wouldn't invest in gold and silver early
2:56 - The slow growth strategy
3:39 - The difference between precious and commodity metals
4:21 - Trading vs owning precious metals
4:44 - Why precious metals are a safe investment
6:22 - Starting your precious metal portfolio
7:14 - How owning gold and silver changes your mindset
8:29 - How to buy and store gold and silver (and costs)
10:27 - Where I store my gold and silver (Goldmoney)
11:58 - Tax, asset reporting, and ownership of precious metal
12:41 - Outro
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Sorelle and Leon.
Founders, Abundantia
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#investing #goldandsilver #preciousmetals
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Have you ever invested in gold or silver before? Let me know!
No, but I have been reading about precious metals, hyper inflation and investing in things that can't be duplicated. Thank you for this video, it was really informative and I enjoy how you present the information.
Yes, it's a strange quirk my mom always had when I was growing up, she loved silver coins and I kind of strangely love them too.
Yes! Invested in both silver and gold :) I think history has shown that gold is a pretty safe investment, especially during inflation.
I bought some silver a couple of months ago, I have a bit of money in crypto so wanted my silver to be my conservative safe(r) investment that adds diversification. I've never heard of goldmoney before so thank you for sharing that info, I'll be looking into their locations globally for when I buy gold.
There are very few people in the finances/investment space that I believe are sharing knowledge for the right reasons (not driven by self gain or ego), so thank you and Leon for joining this space and sharing all that you have learnt through the years. (Making financial freedom accessible to people, especially young people, through engaging videos is sexy as hell)
In this video you spoke about inflation and hyperinflation, I would love to hear your thoughts on keeping a low interest mortgage/student loan instead of rapidly paying them off, since you paid cash for your properties I am so curious about the research behind that decision.
Loved this video!
Small amounts for me, I like combibars
This presenter is cute.
Yeah, she is.
Mirror, mirror on the wall… 😂 💙
She reminds me of Courteney Cox. I think this presenter has a good future ahead of her on RUclips :p
Too funny! I have been collecting silver coins.
Did she just call herself cute? Lmao
Questions:
1. How do you ensure that you're getting the real deal (not a cheaper alloy) before purchase? after purchase?
2. What recourse do you have if someone sells you such a counterfeit? Any precautions you can take beforehand to protect yourself?
Mind blown! I had a couple thousand dollars just sitting for travel purposes but I’m considering investing a portion of it to avoid this inflation we’re experiencing here in the US. Gold Money has my interest!! Thanks Sorelle!
Great to hear it!
Now I want a gold bar as paper weight on my desk 😍🤗
Don't we all!
Bought 3 1oz silver coins today. My first investment in precious metals after about 3 years of reading books on it and debating and finding other silly ways to waste my money. I've never seen anyone be so genuinely excited about finance and growth. After years of being afraid of money and scared to look at my bank account I feel hope that there is another way. Thank you xxx
The newsletters are absolute gems! I really like how everything that you and Leon cover isn't tied to one specific location or background. It is great valuable content and that's written in an accessible manner! Definitely learning a lot as the weeks go by.
I’ve been studying gold now for a couple years and find it interesting is the buying power of gold hasn’t changed drastically throughout history compared to the commodity markets
can you do a video on how to start budgeting, i know its really basic but i feel like its something that i would be really interested to hear your thoughts on, love what you do and what you stand for! thank you :)
Yes of course! That's planned for sometime in the near future.
In the meantime check out Dave Ramsey, he has many great videos & free Budgeting tools :-)
Do you have excel? I built a spreadsheet that may be of interest to you. I have been refining my budget over the last couple of years and am happy with what I am working with right now, but of course, the more you focus on something, the more you tend to refine it (and your budget strategy).
Here’s basically how I budget;
1) I have a basic checking account. My wages and any other income go into this account. Same as everyone else
2) I have a second checking account that I call my “escrow account “. Every week, I transfer $ to this account but every dollar is specifically for a defined purpose and is named as such (which makes the spreadsheet for tracking necessary).
I divide my monthly bills by 4 and each week, I transfer this amount to the escrow account.
I also divide annual or semi annual bills to this account and name them as well. Car insurance….divide the premium by 24 ( 6 four week installments, yes I know that it’s really 26 weeks) and escrow that amount into the account.
License plates….couple bucks a week and when the renewal is due, the money is there.
Birthday presents, Christmas gifts, emergency fund…whatever you determine you will spend (or save), you just hold those amounts in escrow. Kinda like when gramma had 20 envelopes in her purse, all with cash for specific purpose.
Additionally, I worked my way forward so that I pay all of next months bills on the last payday of the previous month. Builds a cushion, plus I don’t have to remember what day that credit card is due on. It was paid last month and the following bill will be paid at the end of this month.
If this sounds like something of interest, please reply. I’m happy to send you the budget template. I’m not trying to sell anything but would love your opinions/ feedback if you were to start using it.
Also, forgot to mention that each account will provide an annual (automatically) report or view as to what you spent and deposited, based on category. I think it’s pretty cool if I may say so…
Yess!!!
Very nice of you to show the 3 oz + 1 kg of silver, yep it is a sign that you are an investor, and a SERIOUS one 😊
I will tell you that my purchase of nostalgic brooches and flatware could have put me in the "big league" -- if I decide to sell.
Three years ago there was gigantic plummet on silver value when people started getting into minimalism ( I live in Norway ) -- they sold old silver brooches, flatware, crosses, and saltspoons.. for next to nothing. Me and my cousin discussed it, and came to the conclusion that with our nostalgic silver vibe... now was the time -- for us personally -- the time to get that antique dessert spoon, and those 70 ies huge and flourishing brooches and necklaces.
Now, three years down the road we can get THREE times what we paid ,,, and a couple of our pieces turned out to be rare finds and collector items... how is that for a hunch... eh?? 😎
Thank you for this! My husband and I have a genuine curiosity for precious metals, so this is super helpful.
Glad to be of service! Hope it makes precious metal investing less scary than it seemed before :)
This is something that I have always wanted to do, it just feels right or natural to me. I just can't wrap my mind around the idea of giving money to a company online because I feel like this could very easily be a scam. On the other hand, being from a corrupt country like Egypt makes me very skeptical about just walking into a gold and silver store and buying with the price they tell. I was hoping to hear more about how to research prices and what kind of gold you'd buy, etc. It's all a bit daunting to me but this is the only form of investment that I can afford or form of saving that I'm willing to do (because screw banks)
Great video Sorelle! Love this series.
My boyfriend is investing in silver (both stocks and physical silver) and this year for my birthday I got a silver coin from him! Super sweet present.
This woman's smile could make a flower bloom!!
This is so good. First time ever I consider buying gold. I really resonate with how you talk about physically acquiring the silver or gold so you see it there every day and start shifting your way to look at things. Thanks
So grateful for discovering you ! Your take on matters has reaffirmed my belief that there is hope for our world in these crazy times! It is so reassuring to find people who think critically and have the courage to be vulnerable in putting themselves out there. You are a blessing to us all ! As it is said, "seek and you shall find".- I did, and I did !
I think you hit the nail on the head when you said something changed with your mindset by having a physical representation of your investments, it’s like a touchable vision board!
As the Rothschilds allegedly say, 1/3 in stocks, 1/3 in real estate, and one 1/3 in jewelry and art. And I think crypto is more similar to art than to money.
Thank you, Sorelle! I love the new channel. I agree, there’s something magical about holding gold or silver in your own hands. Thank you for sharing what you’ve learned about investing in PMs!
Thank YOU for watching!
Thank you for this video ! I literally wrote out my goals for the month and one was to actually buy gold&silver and not just say I am going to. Your video came just the right time❤️ I also love your energy and insight ! You are beautiful
Really loving this and the emails.
Been having a fun time with some stock options, even dipping my toes into "meme stocks" but not risking my neck.
Precious medals are definitely in my sights and thank you so much for shedding light on all that you do!
❤💜
I feel so grateful for the series. I am currently going through all the videos. Super inspired, already building some saving and investing strategies. Thank you so much for doing this, Sorelle! ❤
Vaults are somewhat risky nowadays. I work for an attorney and we often have people contact us for asset forfeiture, basically someone is doing illegal activity and the government seized the entire vault, not just their stuff. You have to get a lawyer to get your stuff back from the government and that’s expensive
I'm 49 my husband 54 and we are retired! Living my best life right now with my partner in Springfield. We gathered over $5 million for retirement. Saving and lnvesting lifestyle in Gold and Silver has been our biggest success and made it possible for us this early and we still earn on a weekly basis. I've just stumbled upon this channel,much love♥️
Incredible!
I'm so much inspired by your story 🌟
I'm very happy for you Olivia it's not easy at all for a couple to rich this precious goal it requires hard-work, cooperation and consistency keep it up👍
Good for you both that you've lnvested in your combined futures well!! Enjoy these freedom years in good health♥️
@Russell Matthews I can share some that helped me
1. Plan towards it
2. Be frugal an minimal on spending
(Don't buy what you don't need)
3. Save to (lnvest),it's a proven way to get richer.
Very important to financial success
Your channel and wisdom is priceless. Thank you for all the learning your channel provides everyone.
Thank you for being so generous with what you share. I love the quality of your videos and the products you sell! (I purchased your selfie course, loved it!) Keep doing you boo! xo
I've been thinking about doing this for YEARS and had no idea how to start despite research. Thanks so much for this video.
Thank you for mentioning a specific website! People often talk about what they're investing in, but fail to mention where/how to do it. I'm definitely investing in gold and silver this year, thanks to you!
Sorelle! Love that display case on your wall. Oh; and your input on investing in precious metals. That rocks like a yacht in a hurricane.
this is getting more and more interesting. It's truly a journey. I was thinking about investing for a while now but this could actually be a push I needed! Thank you for that
I'm going APE over this cutie being a gold & silver stacker. Love the positive energy towards humanity, freedom & God's money. Say no to the banksters' debt slave fiat currency system.
Stack on fellow ape. 🍌
I'm finding so much value in both the videos and the newsletters. I bought the audiobook for The Richest Man in Babylon and it's such a great book! I'm still working on the first few steps of building my business, reducing my debts and saving 10% of everything I own. Next few steps are coming much sooner than I first imagines and you've both given me so much inspiration. Thank you!!
So great to hear that! Thanks also for reading the newsletters - we're so glad people are getting value from all our channels.
👏🏻👏🏻👏🏻
I read the Richest Man In Babylon when I was 28 years old & it changed my life. I went from Broke & over $67,000 in debt to owning my Home & a Rental Debt free by 35 years old. Great to see someone mention it!
@@danielwalker1053
Read that book three years back and it's still my favorite, I up the ante and do 30-40% because I started late, was partying too hard in my 20's to notice the shitf*ckery of govs around us haha.
I’m reading it now. I’m going to pay myself 10% starting with my first Sept paycheck. But what do I do with it???
Thank you for the video Sorelle! I love how you show on this channel a different side of your personality. And matryoshka on the wall is cute )) 😍
You are great! You talk really fast, love the way you give us so much information in a short time.♥️
So excited every time a video pops up! These videos are so informative and high quality.
I would love to hear about trusts. The why the how and when you might consider setting one up.
The newsletter is amazing! Just wanted to say thanks Leon for all the effort 😄 I love reading it.
I'm not at this stage just yet, however it is amazing info to have for my finances going forward. Thank you so much for doing these videos and the email updates are awesome! Am also working my way through your book recommendations. Can't thank you enough I'm already seeing a difference 😊
You are so welcome! Glad you're taking charge of so much of this.
Yes I totally am, you've inspired me to do even more and have changed my mindset already so can't thank you enough 👍
Go to your local coin shop. Buy one ounce of silver. Hold it. Feel what real money is like. Study more. See what happens.
Can you please speak a bit more about how your company/trust owns your investments?
Also years down the line when you want to turn your investment back into cash how easy do you think it'll be to sell it?
Loving ALL of these videos so much !! Thankyooou Sorelle for these vids and Leon for the amazing emails! Much love from the Swiss alps
Sorelle. Wisdom beyond your years.
I listened to your story and it seems you've walked the walk & talked the talk.
Really nicely presentation info on PMs too. Kudos to you.
This channel is full of gems, I love it! Thank you.
I am SO SO excited that I came across your channel! Love your topics and point of view. I am a new entrepreneur with financial freedom as my #1 goal. I know your channel and newsletter will be a great tool to help me achieve my goals! Keep up the great work ❤️
This is really helpful thank you, I'm 21 and interested in investing, I'm currently saving money to buy a property but like you said the interest that you get from having your money in the bank is very little so I have been looking for other options for investing and I was thinking about buying into gold and silver but wasn't sure how to. Thank you so much, I now have a guide on where I should be looking and a starting point to help research my options.
I had never heard of Goldmoney but was delighted to learn they're based in Toronto! Thank you for the great suggestions and also for supporting a Canadian company :)
I love this channel! Lots of comments are about how poeple began to read your book's recommendation...
I'me part of it too haha. I think, the fact that you actually possess gold in your desk change your mindset a bit and build up your confidence in business is very interesting.
By the way, not a while ago, I listened this podcast by Blu and you as a guest about authenticity. It was awesomly inspiring. I related so much about this journey. I really appreciate the fact that you can share vulnerability state, it helps so much. So thank you again.
Thank you Leon also for the newletter, very stimulating.
I've just bought my first three silver coins 💰, because of you, thank you for your videos and the priceless content 🌺💞🌹
Thanks Sorelle, can't wait to learn more!
Sorelle!! Thank you!! I commented about this in your last video and here it is!! 😍 excited to have my own bar of silver/gold on my desk too 😍
YES... I promised it was coming!
I like this idea of a bar of precious metal on my desk. I never considered it before. Thanks for the idea. Now for my question. Where can I buy my first bar?
@@reyamoseley9887
Try your local coin shop. Inventory is running low globally due to... mining complications (lemme know if you want the long story), so you might not want to order from places like Apmex these days, orders have delayed deliveries.
Nice video Sorelle! I love how you mention your first silver bar and coins gave you increased confidence. Mine did the same for me. I personally would be reluctant to keep my silver in vaults around the world. I think if the world ever ran into serious serious problems, it could become difficult to get them to honor what they promised. Just my opinion.
That smile is the bait and the awesome information is the hook ❤
I'm always hungry to learn more about investing, so discovering your channel is a lot of fun. It IS all about the mindset.Thanks for all the info!
Glad you're here for the journey!
I appreciate a lot the information you give and I love your energy. I just can't stop watching your videos!!
I love your personality and the reason you create this video!!
Like straight away before watching. All your tips are great and very useful! Thanks Sorelle for sharing your knowledge with us here. 🙏❤
Haha, thanks for the support!
That was sweet mate I’ve never bought either but have mined both here in Tasmania it’s what my channel is all about so the values in the adventure and the metal is a plus.goodonya Sorelle keep em coming cheers
You da bomb Sorelle!!! thank you for all your insightful and inspirational videos!!!
So good to have this information; learning lots!
The speed of the new content 💯
So fast!
This is so important! Please more videos like these! I invested in Gold ETFs but I am just beginning to invest small amounts..
Thank you for sharing Sorelle! I love what you're doing on this channel, please keep up the good work.
Thanks so much for the kind words, and for watching!
I stumbled onto your videos from a different community of silver and gold stackers. So yes i have definitely invested in metals for awhile now. I like your approach to finances thou another pass time of mine is fiscal responsibility and it encourages me to see the younger generation taking an interest in financial planning so many kids now days do not seem to care about it i wish they would put more emphases on it in the school systems of our nations. I will say one thing thou and that is if you don't hold it you don't own it when it comes to metal. I like mine close. Great job on the videos thou. Keep it up and congrats on your financial journey.
I love the nature bits in videos . So so beautiful x
Sorelle, with this video you encouraged me to invest in gold or silver, you created the enter to this new area of my life, thank you . Polonca, Slovenia, Europe
I just bought some silver a month ago, this was very helpful thank you
Gotta start that silver stash somewhere!
Great video! I remember buying some silver years ago through Franklin Mint. But this is a great idea and I've started looking into investing into more into gold. Kudos for mentioning Nathan Birch, we are currently working with him to build our property empire. :)
Love your videos. Thank you so much for all the practical information.
Bought 5 oz my first time. There was just something inspiring about seeing my money in an asset that had actual 'weight' in more ways then one. It has made a shift in my mind set by being able to say that I am now an Investor. So I feel that sentiment and glad I'm not the only one to start with silver lol.
I am so thankful for you and abundantia!
And I'm so thankful you're here!
Thank you for sharing, I have been thinking about buying gold and you answered many question in such a simple way.
Glad to hear I made it simple! Thanks for watching.
Signed up! And got The Codex & The Order. I can't wait - LET'S GOOOO!
Thanks Sorelle. I found the information useful.
You helped me so much with photography so to have you pop up as I'm looking for help buying silver is perfect! A face I can trust
Good info, nice pace, easy on the eyes!
Very helpful, had absolutely no idea how this worked!
Glad it helped!
Awesome! My Polish mom always buy gold I might just start too.
Thank you! I love the idea of physically seeing your first investment daily 🤩
Well done Sorelle! Keep going!
I have just started buying physical silver a few months ago and will keep buying more. Silver seems highly undervalued, so I expect that it will do well in the future. PSLV is also a great choice if you don't want to own physical silver.
I'm very happy for you dear 😘and you're creating a great reputation for this channel and everyone,I will love to achieve this great goal you're enjoying now.
Thank you for shifting so many people's mindsets towards wealth building. We can all bring good energy to this process and achieve what we desire and deserve.
Hey Sorelle!
Thank you so much for doing these videos!
I wanted to comment on your last video about the books! 😊
I listened to babylon twice! I loved how it made me feel so comfortable and half way through the first listen, I paid for my driving lessons and my instructor gave me £10 (UK😂) back! It's small but it's a start! I really believe its because my mind set shifted😊
Then I started the 5 rules to take 10% for me, set up money for food and 2/10s payback etc and I was so excited!
I also remember the day you announced this channel, I was basically having a mini break down and it's like you were to the rescue! 😂😂
It was because I want to compete in golf competitions and maybe turn pro one day.... 😇
I was worried I didn't have enough or wouldn't ever for a long time, to buy a club membership (which you need for handicap to enter competitions) and better clubs😂
But it's was like a relief when you uploaded it and I've eagerly watched every single episode since😂😂
Keep on posting!
Kind regards
Summer 💕
WOW! So great to hear your taking action!
@@Abundantiaco 😊 my grandparents are into collecting gold and silver. This is definitely something I'm going to look into now!
Thank you so much😁
Thank you for your intelligent advice my lady, in these uncertain times we need solid advice
I love precious metals... I totally agree with you it feels so good to hold real gold and silver in your hands, there is something really empowering about it.
I did a video on gold and silver recently as well such a good asset class to have as a part of your overall portfolio.
I really do believe in building assets that pay you an income first then getting that income to the point it pays your bills then using that income to start to invest and store your wealth...
I totally agree with this video...
Absolute great Sorelle keep it up ! Im in love with all this new content that you bringing out. Super interesting you explain it absolutely great sending much love
Have wanted to for years always backburner it ...Thanks for explaining things so simply
For European people: I can recommend Degussa online shop for buying silver and gold. Very professional. Ordered there myself and the process went very smoothly. And another tip for buying silver in the EU, make sure you buy silver that is not made in an EU country (like Maple Leaf Canada) because then you pay 7% taxes instead of 19%.
Oh I just love these videos so much. I'm very interested in investing and being financially free and I'm looking forward to your next videos.
Thank you so much for this. It's incredibly helpful information.
Thank you, for the insight in Gold and Silver.
Please keep making these videos, this is fantastic
That’s the plan!
Loved watching! Thank you for sharing!
I just binge-watched all your videos. This channel is my new obsession. And your energy is addictive. I always hated this topic, what have you done to me....
I love your content and your energie, thanks for sharinge your knowledge
Brilliant vid! Incredibly informative. With so much noise out there about investment strategies, it’s refreshing to get another take on what has been working for you. My key takeaway is precious metals changes your mindset towards wealth. Investing is not a get quick rich scheme but provides security. So freeing!
Thaaaaaannnnnnnnnnnnnk you
There is something so special about your Chanel ❤️❤️❤️❤️ something magical 💜 you are so honest i can feel that and you really feel wealthy
REFRESHING !!, It's a breath of Fresh Air to see such a fine Young Lady so Enthusiastic about Life and Investment !! This gives me hope for Our Future.
Enjoying these finance topics, thank you!
Thanks for explaining this in a way I can understand
SO HELPFUL I learned SO MUCH!
Been collecting a few pieces myself along the way mostly silver!😊