Iím often asked if Gold is a good investment and I invariably answer that gold may well be a good long term investment for an investor but I am a wealth creator and the very word ìinvestmentî is simply not part of my wealth creation vocabulary.
This statement usually results in a very perplexed look on my questionerís face.
And so it was with Walter. Walter is a financially struggling bank employee and came to me to learn about wealth creation. (Yes I assure you, there are tens of thousands of financially struggling bank employees out there.)
ëCharles, so you are saying that if you had a spare $25,000.00 you would not even consider exchanging it for gold bullion?í
ëMy dear chap, why would a wealth creator swap one asset (money) valued at $25,000.00 for another asset (gold) also valued at $25,000.00? Rather pointless exercise donít you think?í
ëBut gold may rise in value and your money might devalue ñ isnít gold a hedge against such occurrences?í
ëYet equally, gold could go down in price and the currency strengthen ñ surely what you are contemplating is just a form of gambling, is it not?í
ëOn that logic all investment is a form of gambling, as prices of any share or commodity can go down as well as up. That is why one needs to weigh the risks.í
ëExactly so ñ and that is why I am a wealth creator and not an investor or speculator. Investors and speculators hope and pray for some future event to occur, whereas a wealth creator insists on increasing oneís wealth at the point of purchase.í
ëBut Charles you canít buy gold bullion at wholesale rates ñ as you well know the spot price is fixed daily.í
ëWho said anything about paying wholesale price for it ñ I would prefer to be an alchemist and turn dross into gold.í
Walterís young moon face went red with frustration. ëOh come Charles, please be serious with me and stop toying. I truly want to be wealthy one day and on a bank tellerís salary alone, I canít see that happening.í
ëOh but I am being serious. Turning dross into gold is a very enjoyable hobby ñ the challenge is not whether one can accomplish the task ñ merely how quickly one can accomplish each stage of the goal one sets for oneís self.í
ëAn enjoyable hobby! Ö But how on earth do you do that?í
ëSimply by making the conscious decision to become a wealth creator ñ develop your own part time wealth program and stick to it. Besides my book The Secrets Of Wealth Creation Revealed, Iíve written many free articles that are now all over the web. Study them and then begin your wealth program ASAP! There are a thousand and one ways to accomplish the task of turning dross into gold. Itís a matter of first knowing the principles, secondly establishing an easily managed workable plan – then thirdly, having the fortitude to stick at it.í
ëYou mentioned setting ìgoal stagesî could you give me an abbreviated example of how one goes about the process?í
ëWell if your desire is to amass gold then if I were you, I would have a clean out boot or yard sale of all superfluous items in my possession (dross) to raise some initial capital. I would take that small amount of money and taking my time (because time is virtually immaterial to the success of this endeavor) haunt charity shops, other peoples yard and boot sales, auctions etc and buy items that I know I can resell at several times the price I paid.
I would keep a list of the expected realizable value of such items (wealth total) and keep buying and selling till that list total becomes about $9,000.00 in value. Now I know to you that may sound difficult to achieve right now but please understand, if you are working on 200% minimum mark up, this can be accomplished so quickly. That is $150.00 in sales becomes $450.00 which becomes $1,350.00 which becomes $4,050.00 which becomes over $12,140.00 and so on.
Now as I said, once that total of goods on hand passes $9,000.00, stage 2 of my wealth plan would come into effect. That is, I would then save the proceeds of the next approx $3,000.00 of sales (depending on current spot price) and purchase a 5 ounce gold bar.
The realizable value of the remainder of stock would still be a minimum of $6,000.00. My next task would be to quickly increase this total back up to $9,000.00 and then repeat the gold purchase. You can continue this process until you feel you have amassed enough gold.
You will find as you learn and gain experience, wealth creating will become your second nature. Opportunities will materialize all around you. Soon you will be running in and buying gold bars at least twice a month. People will think you have the Midas touch and you will be able to say ëNo it isnít that at all ñ It is all the result of Alchemy and my dear old friend Charles Goodwin!í
Do not worry about the spot price fluctuating. Merely stay detached and consider that you are simply turning dross into gold and of course that is exactly what you are doing. If you have any doubts in your own abilities divide all the figures by 5 and initially buy an ounce of gold at a time. I can assure you the journey is both exciting and interesting. You will learn so much upon this journey and then one day the penny will drop and you will suddenly realize that the world is now your oyster. You can create as much wealth as you desire.í
ëCharles, forgive me ñ but may I ask the obvious question. You have shown me a fool proof way to amass great wealth, what do I do about taxation?í
ëI am a wealth guru as well as a mystic! Would I leave you floundering without a tax plan equally as simple and equally as effective? No of course I wouldnít. But at some stage you will simply have to beg, borrow or steal a copy of (or dare I say it ñ even buy a copy!) The Secret Of Wealth Creation Revealed and truly ñ all will be revealed!í