Words of Wisdom: 3 Experts to Consult When Investing in Precious Metals

Posted on February 27, 2015 @ 7:45 PM EST

When it comes to dating, people often seek the help of a ‘wingman’ (or ‘wingwoman’). When deciding  to buy a car, people often seek the help of a trusted friend or salesman. Yet when it comes to investing in gold, silver, and other metals, you’ll find quite a few folks who feel they can do it all alone. It’s quite puzzling actually. However, the reality is that anyone looking to invest in precious metals needs guidance from the right sources and the right people. Fortunately, finding such expertise doesn’t have to be a science. All the help you need is closer than you think.

Just An Appointment Away

Speaking to a financial advisor is a great way to learn about precious metal investmentsYou may think you need to meet some celebrity stock trader to learn about precious metal investments. However, you can acquire a great degree of help from the person already assisting you with your finances – that is, your financial advisor. Don’t overlook them! They’re one of the most precious (excuse the pun) sources of information and advice out there, so ignoring them would only put you at a disadvantage. In fact, it’s safe to say that a financial advisor should be one of the first people you visit when looking to invest in precious metals.

Why See Your Financial Advisor:

  • Intimacy – No one knows your finances better than your financial advisor, unless we’re talking about your spouse. Therefore, it makes sense to discuss your aspirations to invest in precious metals with them. They can advise you on what directions to take or avoid, based on your current financial status. In turn, such advice can clear up any confusion you may have about making investments, and help you decide on what metals to give your focus to.
  • Knowledge – So what if they’re not Warren Buffett or Suzy Orman?! The knowledge needed to help an individual make smart choices with precious metals is something that your financial advisor will possess. You can rely on them when looking to diversify your portfolio, and don’t be surprised if you find that they’re the ones who answer your questions about precious metals before you even ask them!

Listen to the “Gurus”

 Trusted finanical gurus (such as Warren Buffett) can enlighten you as wellNow, in the section above, it was mentioned that you shouldn’t worry if your financial advisor isn’t a world-renowned stock expert. After all, they can provide you with plenty of info to diminish any uncertainties you may have about investing in precious metals. With that said, however, there are benefits that come from seeking advice from specialized people who know just about everything when it comes to gold, silver, and all that glitters. They are the ones who may have columns, blogs, news segments on T.V., and books written about precious metals.

The good thing about consulting with these individuals is that you don’t have to speak with them directly. Through some of the mediums mentioned above, you can gain great insight when it comes to investing in precious metals. As a side note, it’s wise for you to speak with an actual person (such as your financial advisor) before relying solely on the words of a person you haven’t met.

Why Listen to Industry Figures:

  • Credibility – Generally speaking, people recognize and respect industry figures, pointing to them as individuals who know their “stuff”. Therefore, they usually possess a level of credibility that others don’t have. These people often have extensive experience and/or education in the world of finance, and thus have a lot to offer you.
  • Insight – Many financial gurus have developed a ‘sixth sense’ when it comes to understanding the precious metal market. They are among the few people who may notice certain nuances that slip by most people, making them great sources of information to plug into. So it makes a lot of sense to consult these experts, whether it means reading, listening to, or watching them.

Those Closest to You

Don’t hesitate to speak with family or friends, providing they are knowledgeableFinally, when you’re in need of advice when it comes to precious metals, you can turn to family members and friends who have successfully invested in them before. Now you need to be careful with this one, since they may not be the most qualified. They could have been lucky, or had favourable circumstances that made their investment a good idea at the time. However, there’s no harm in trusting financially savvy family members, especially if they’ve demonstrated that they are good with money and investments in the past.

Why Listen to Family and Friends?

  • Familiarity – You most likely share a bond with your friends and family members in ways you don’t share with others. That’s why it makes perfect sense for you to speak with your relatives. They have your best interests in mind, and want to see you succeed. Therefore, you can speak to a parent, sibling, or long-time friend about your interests to invest in precious metals, provided they have done it and know what they’re talking about.
  • Convenience – A great benefit of speaking to friends and family members is convenience. There’s no need to leave the house, or spend money on a costly book. Also, words coming directly from a person who cares about you can replace the need to spend countless hours weeding out credible sources on the internet. Those closest to you can also be a helpful asset if they’ve faced a dilemma or decision similar to yours.

Reach Out

You can probably find more people to speak with when seeking advice for investing in precious metals. However, the three mentioned here are just some of the more common and accessible people to consult. You can rely on these individuals to give you sound and timely advice, making it easier for you to pursue a precious metal investment without much confusion. Regardless of your choice, make it your goal to speak to someone, so that you’re not playing guessing games or short-changing yourself. Good advice can make an investment in precious metals one of the best choices you’ve ever made.

Are you interested in learning more about what precious metals can do for you? Get in touch with us so we can help you see the opportunities.