Hello and Everyone
Childhood is the best phase of our life I think because we have no responsibility on our shoulders. All we do is to learn a lot from our parents and the people around us and also enjoy every moment that we cherish throughout life. This is also the time when we learn a lot about what we see so it depends on how our parents are and what sort of habits they have. I have learned many things from my parents. From my father, I have learned the habit of investing for the long term with consistency. He used to invest a lot in bank recurring deposits and at the time he used to invest in a couple of deposits. My mother is a big-time investor in gold and this amount is not big but she invested only in gold she hates going to the bank. She used to invest a lot in gold on every occasion.
Be it holy or Diwali Festival she's always ready to invest some money and buy gold. I learned this habit of investing in gold from my mother and still I do this. I am the kind of person who likes to have as much as gold I can. I buy gold at least two times a year which is once on my wedding anniversary and the second on is Diwali Festival. You can say this is an investment but for me, it is more than just the investment because whatever I have purchased till now is still with me. It's like I just buy it and keep it for myself and have no plan to sell it real soon.
This habit of investing I have learned from my childhood but I am happy that I have grown up seeing my parents doing different investments. They had no big wealth but whatever they had was good enough for them and it was a good amount. Like my mother, she has a good amount of gold because she has been investing in gold since her marriage. Obviously, I can't reveal the quantity here but it is very good and she still does it sometimes but not so consistently which could be the age factor.
So it is a good memory that I still recall when my mother used to go to a gold shop and buy some gold a couple of times a year. I used to go with her but there was nothing for me in that shop and I had no interest in gold in my childhood. Now I miss those days because it was something that had a good impact on my life and because of that I also invest in gold and continue to do this till the time it is feasible for me. I don't know when is the exit strategy for me in gold investing but I am going to continue consistently on gold because it is one of the assets that always grows in value. I'm not good at banking products and to be honest I don't do much but gold is a time investment.
Now I also invest in Crypto and a major chunk of my savings has already gone into crypto but still, I keep some part of it to buy gold on both occasions every year. I know that gold I will not be able to sell even though I know that it is in profit but at least I can sell off Crypto and book profit when the time is right. What are your thoughts about investing in gold and do you think it is a beneficial investing instrument?
This is my participation post for Initiative: March Monthly Prompt
Check out the above post if you are interested in participating in this initiative every day there is a different topic that is fun and allows us to share our thoughts.
Thank you so much
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