Inflation's eating away at everything, glad I diversified into gold last year.
- •Anyone else feeling like we're just hemorrhaging money with how fast prices are climbing?
- •Every time I fill up the work truck or buy materials for a job in Chicago, it's like another gut punch.
- •I’ve always been a believer in tangible assets.
Anyone else feeling like we're just hemorrhaging money with how fast prices are climbing? Every time I fill up the work truck or buy materials for a job in Chicago, it's like another gut punch. My construction company is doing alright, but the margins are getting squeezed tighter than a two-dollar suit because everything from lumber to fuel is just skyrocketing. Been watching this happen for a while and honestly, it’s one of the main reasons I decided to put a good chunk of my retirement, about 300k, into a Gold IRA last year.
I’ve always been a believer in tangible assets. You can't print more land, and you can't just digitally create more gold. With all the government spending and money printing we’ve seen, it felt inevitable that inflation was going to hit hard. I mean, common sense tells you if you flood the market with more dollars, each dollar is going to buy less. Seeing gas prices up almost a dollar a gallon from last year, and grocery bills looking like luxury restaurant tabs, just solidifies that decision for me. My financial advisor initially pushed back a bit, wanting me to stay more in traditional stocks and bonds, but I stuck to my guns.
Feels good knowing a portion of my retirement isn't just evaporating with the purchasing power of the dollar. It’s sitting there, solid, real. Had a buddy of mine, another contractor, scoffing at me a few months back saying gold was “dead money.” Now he’s asking me who I used for my Gold IRA because he’s finally feeling the pinch. Anyone else out there feeling the same way about inflation driving them towards hard assets? Or am I just preaching to the choir here?