What form should a financial inheritance take if, for example, parents pass away before their children are able to stand on their own two feet financially? Less morbidly phrased: What financial legacy do you wish to leave behind when you are no longer around? Do you wish to leave behind money in the bank? Or wealth in the form of various policies and trust funds? Or property that your children can later sell at a profit? Perhaps even a business? While all of these are valid and prudent choices, I have found that a significant number of my clients want to leave a portion of their wealth in the most honest form of wealth there is: physical silver and gold. Banks could close and be liquidated; the South African rand may lose value; trust funds must be mismanaged (not to mention the exorbitant fees you may be paying to have them managed), and property might be reclaimed or occupied. But physical silver and gold are known specifically for their resilience and for providing protection against such contingencies. They are also safe and private wealth in your hand.
They anchor your wealth and provide a measure of security against many eventualities. Also, protecting the wealth you built over years of arduous work and prudent living means having the pleasure and opportunity to pass down an inheritance. A simple wish, yet important to me and important to my clients.
Those who purchase silver and gold think beyond mainstream financial instruments for wealth preservation, especially since wealth, if properly managed, may be inherited by our children and possibly even our grandchildren. The goal of handing down a legacy of hard work in the form of precious metals is highly motivating for the typical precious metal investor.
Article courtesy of Going for Gold: A guide for the South African precious metal investor by Zoltan Erdey
