We all want the best for our children and their children too. One of the ways that we can help is to make wise long-term investments that mature at the right time to bring an injection of wealth into their lives. Many investors make provisions to guarantee their grandkids.
This article takes a look at precious metals, one of the best commodities for very long-term investment.
Gold
Of course, gold would be the obvious choice, as this commodity is certain to appreciate in the long term. When making a long-term investment, you need to specify a time period, which brings structure to the investment. If you still want to generate wealth at the end of the term, re-invest for another term, which will grow as time passes.
You can buy gold and then store it in a safety deposit box, while keeping your eye on the spot price. Always make sure you are buying from a reputable dealer. If, for example, you want authentic gold bullion for sale Brisbane investors go for, you can search on Google to locate an established dealer near you, wherever you are in the world.
Gold Futures
You could invest in ETFs, which means you don’t have to worry about storage; this could be gold or shares in a gold mining company.
Talk to a financial adviser about the best way to make a long-term investment in gold futures; one thing to consider is the estimated gold reserves that have yet to be mined and how that will influence the price of this yellow metal.
Silver Bullion
Unlike gold, silver is used widely in many industries and the commodity is therefore more volatile than gold. New tech typically requires silver and that could mean a huge return in, say, 30 years in the future.
Some advisers would recommend setting up 5-10 year investments, rather than tying up capital for 20-30 years. Silver is probably a better option than gold due to the fact that many industries have a need for silver.
Platinum & Palladium
These are two precious metals that offer a huge opportunity for long-term investment, as both commodities are extensively used in many tech sectors; digital devices require platinum, which is certainly good news if you are planning to invest in platinum futures.
Do some online research about tech development, search specifically for sectors that make use of precious metals, and see if you can predict a surge in demand.
Online Solutions
If you are wondering how to acquire precious metals, your local gold bullion dealer can be found with a Google search. Make an appointment to visit their offices, where you can safely make the transaction.
If you are taking physical possession of precious metal, storage is one thing to consider. You can’t leave a few kg bars of silver bullion under your bed, rather you should rent a safety deposit box at a local bank.
Make A Will
If you wish to leave specific assets to certain family members, you should make a Last Will & Testament that clearly states your intentions. Every person should write a will; you cannot rely on the ancient laws that govern inheritance.
When a person dies without leaving a will, the courts refer to centuries-old laws to decide how the deceased person’s estate will be divided up.
Create A Long-Term Wealth Generation Plan
In order to maximize the wealth that you set aside for your grandkids, you need to create a wealth-generation plan, which diversifies the investments and has set goals.
You might need the help of a professional financial planner, a person who can lay out all the options and help you to make the right investments to ensure a secure future for your kids and their kids too.
