Looking for the perfect way to get your kids or grandkids on the path of smart investing?
Ray Dalio, the legendary hedge fund manager, has shared that he gives his kids and grandkids gold coins as gifts to start them on their investment journey. Dalio founded Bridgewater Associates, the largest hedge fund in the world by a mile.
According to Dalio, this lustrous metal is the best way to get kids excited about investing. He gives his grandkids a gold coin every holiday and birthday celebration.
Why Are Gold Coins Great Jumping-Off Points for Kids?
Gold coins are an excellent choice for gifts because they are physical assets that kids can hold and appreciate. Unlike stocks or mutual funds, gold coins are tangible, making it easier for children to grasp the concept of investing. The unique beauty and luster of gold only help to capture their interest.
Dalio’s approach reflects a growing trend among parents and grandparents who want to pass on financial knowledge and skills to the next generation. Giving tangible assets like gold coins can be a great way to introduce children to the concept of investing.
By giving the gift of investing, they can set children up for financial success and teach them important life skills that are often not taught in schools.
Another great feature of gold is that it’s essentially timeless. Gold has been highly valued by people from all walks of life for thousands of years, and that doesn’t seem to be changing any time soon. As an investment, gold has also historically been a safe haven during times of economic uncertainty. This factor makes it one of the most popular long-term investments.
Dalio’s advice is timely given the current economic climate. The markets are still looking out for inflation woes and an increase in interest rates, though the CME Group is expecting a 25 basis point increase instead of 50.
The collapse of Silicon Valley Bank on Friday only stoked the market’s fears further. The Dow Jones Industrial Average dropped 500 points in a single day, fearing that the issue would spread to other banks. Investors are already turning to precious metals for their status as store-of-value and safe-haven assets. The price of gold and silver started to rise immediately after the bank collapsed.
Looking for the best precious metals dealers to get your kids started on investing or just want more information on gold and silver? Just check out Benzinga’s Precious Metals Hub,
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This article The Greatest Hedge Fund Manager of All Time Says to Get Your Kids This to Get Them Started Investing originally appeared on Benzinga.com
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