Is investment in gold a good option for elderly individuals?

Is investment in gold  a good option for elderly individuals?

Is gold a worthy investment option for elderly people? For centuries, gold has been a sign of prosperity and as such, as a senior individual, you might think that it is one of the best investment options to opt for. But, Is gold that worthy as an investment tool? Well, this will require the evaluation of the pros and cons only after which you can decide if you should invest in gold, or not.

Gold is a  shield against inflation and it retains its value for a long span

Gold can pass from one generation to another as an asset, and even then, it will retain its relevance. The value of gold never drops down that drastically as other assets are likely to do. Most importantly, gold serves as a g hedge against inflation. Even during high inflation, gold can perform the best among all the probable options for investments.

Excellent liquidity

Another factor that makes gold a safe and secure investment option, especially for elderly people is its high liquidity. You can get liquidate the gold in your possession to fetch hard cash to meet your exigent needs on any purposes.  You have the options for disposing the gold, or you can avail loans by pledging the asset. This way, you can easily avail loans at the lowest rate of interest. In such instances, you will feel there can be no  better assets or investment options than gold.

Makes your investment portfolio diversified

Another reason to add gold in your investment portfolio is that, it adds more versatility. As gold is one of the most stable and risk free investment instrument, you can make up the losses you incur from other domains of investments with the  stable gains you get from gold. Remember, diversification of the investment portfolio is one of the key factors for any investor to taste success. Now coming to the downsides, you cannot expect gold to perform as a passive investment. You can never incur any regular income from gold, unlike stocks and shares. The only option to gain any returns from gold is when you dispose it. On the other hand, storing gold is very difficult and you might have to incur regular expenses in paying the rentals of the bank lockers to securing the gold. This escalates the regular cost. Now, you need to consider the pros and cons stated above to determine if, you should go for gold investment or not.