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Why you should buy gold.

 Why should you buy gold? Why is investing in gold a good idea? What can gold do for you? All questions that might be going through your head right now. Buying gold comes with at lot of benefits. It can help with saving your money and make money, while at the same time keeping the value or strength of your money consistent, lastly it can help you save on taxes. But how does all of this work?

How does help you save money? When you buy gold, it retains its value far better than money does. Money is affected by a country economy, gold is not. What that means for you is that your gold will retain its value despite what happens to your country's economy. So, you could be going through a recession, but your money was still be protected as gold. 

Now having said that you are probably wondering how you pay gold right? While the economy of different countries does not affect gold, its value does still fluctuate. So, if you sell your gold when it's value is higher than when you bought it you are making money.  While mentioned before gold is not affected by a country's economy. That means that so long as the gold price is stable, which it always is that value of the money spend on the gold also remains stable. If you invest 100,000 that strength of your gold will remain. However, gold's price can still go up and down which means that you 100000 thousand can turn into 120,000 over time. This is a way that you can make money with gold. 

Now what about taxes? Taxes can be avoided with buying gold both when you buy it and when you sell it. For Americans, I'm not sure about anyone else, what you can do is either invest in an IRA, when you invest in an IRA you do not have to pay taxes on it, with a Roth you do. Now if you invest in a gold IRA when you sell the gold later you just have to make sure that you are selling it at a loss. 2 percent is considered a loss by the IRS. So, wait for your gold to go up pretty high then sell wait for it to go down 2 percent and it's at a loss. 

Another way to save money when selling gold is through the foreign income exclusion deduction. As of 2023 it is at $120,000. I wonder what it will be in ten years. With this method you could just wait till the price of gold goes up then sell and so long as it's within the number of exclusions you should be ok. Another way is buy gold then sell it while it's under that amount. 

If you are looking at buying gold, then I would like to recommend two companies to you. Goldco is a leading name in the gold IRA industry. They only work with Americans, however. That being said they have great reviews on BBC, BCA, and Trustpilot.  If you are from another country or wish to make use of the other method, I would recommend Bullionvault as they have made the process of buying gold extremely easy.

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