The belief that gold attracts wealth

@scheng1 (24887)
Singapore
December 19, 2015 3:42am CST
When I read the book Rich Dad’s Guide to Investing, I find the following paragraph very funny: “My rich dad strongly believed in the power of gold. As a natural resource, gold has a limited supply. As rich dad told me, people throughout the centuries have cherished gold. Rich Dad also believed that owning gold attracted other wealth to you.” I find it funny that rich dad had such a superstition regarding gold. This is not a new superstition. Many people in many cultures have beliefs about gold that are not proven or can be proven. Gold is really a very useless piece of metal, yet its allure never ceases. I guess it is time for me to save up really hard to get a small piece of gold bar, and let the gold attracts wealth for me
3 people like this
3 responses
@zarlamain (24197)
• United States
10 May 16
Gold is simply considered a hedge against inflation and or economic collapse. I have no gold because I cannot afford them.
1 person likes this
@scheng1 (24887)
• Singapore
10 May 16
Many people buy digital gold, not gold bar. I think unless we are in war torn countries, there is no point buying physical gold bar. Investing in gold ETF is good enough.
1 person likes this
@zarlamain (24197)
• United States
11 May 16
@scheng1 My financial advisor told me not buy virtual gold because they are not physically in my hands. I listen to what he says about my personal finances.
1 person likes this
@scheng1 (24887)
• Singapore
11 May 16
@zarlamain If you want to hold long term and escape estate tax, then you buy physical gold. Your children and grandchildren will benefit without the government knowing about this part of your asset. if you want to trade, and likely sell within 2 years, ETF is better.
1 person likes this
• Philippines
19 Dec 15
I don't think gold will be useful when the world economy collapses due to war or epidemic or something. gold is actually used to be part for constructing circuits for computers and other techno stuffs out there. well, if the world ends, then gold is totally useless.
1 person likes this
@scheng1 (24887)
• Singapore
19 Dec 15
If the economy collapses, gold is the most important thing you can have at home. When nobody trusts money, they want something that will have value everywhere they go, and gold is the thing that they want. The world economy is not going to collapse, but the economy of any given country can collapse.
1 person likes this
• Philippines
19 Dec 15
@scheng1 god i hope that doesn't happen to my country, it's already screw up as it is.
1 person likes this
@garymarsh6 (12353)
• United Kingdom
19 Dec 15
Ask our Indian community they buy GOLD GOLD GOLD and often it forms part of the dowry when someone gets married! The gold souks in the middle East are amazing. Floor to ceiling gold bracelets, bangles necklaces earrings you name it and it has probably been made in gold!
1 person likes this
@scheng1 (24887)
• Singapore
19 Dec 15
Chinese are great buyers of gold too, but I personally do not see the appeal. I have no love for gold or jewelries, and I see them as a huge waste of money. I think the belief that gold brings wealth is a very ancient and powerful belief.