Wealth Management

Submitted by: Brian Jowaisas

Uncertain economic times like these are incubators for volatile commodities markets. In that last five years, we ve seen the cost to buy gold, sell gold, and other precious metals including silver double and triple in price.

How is an investor supposed to know how and when to get into the market? What s the best way to time it so that you get the most for your money? The following methodologies are useful to avoid the most common mistakes. METERED SELLING AND BUYING.

The most common mistake new investors make when buying gold is to try to time the market. The markets rarely respond to normal supply and demand forces that you are able to see or have information about. Most often, the markets seem to move mysteriously, with no cause and effect. So let this be a warning to you, when you re buying or selling gold or silver don t try to time it!

The time to get into the market is now. It s always now, provided you have: Time, money and a trustworthy advisor or someone to lean on for advice and guidance. If you have time, start reading. Read everything you can about buying gold, selling gold, or if you re in the market for silver, read all you can about buying silver coins, buying silver bullion, buying junk silver whatever the area in which you plan to invest. An informed consumer is the best consumer. Then, after you ve become acquainted with the advantages and pitfalls of the journey you re about to embark on, decide HOW MUCH MONEY you want to invest. Stick to that amount, and then use METERED BUYING as your guide.

METERED BUYING (or selling) of precious metals is the idea that if you buy gold or buy silver at pre-determined times, regularly, without fail, without deviation, you insulate yourself from the markets highs and lows and you capture the market average better than the investor who tries to time their purchases or sales you ll miss some highs and you ll probably be regretful, but you ll miss some lows and you ll probably be elated. It all comes out in the end.

So choose a time each month or each week when you will invest a fixed amount of money to buy some gold coins. Stick to that schedule. Each week, approach your trusted source, make a purchase of a fixed amount of your silver coins or precious metal. Do not deviate from the amount purchased or time to buy by greater than 10% for instance, if the market is down, and on your chosen date to buy, you see an opportunity, demonstrate investment discipline. Invest no more than 10% extra. Market is down a few dollars, and you normally invest 100 each week? Invest 110 but don t get greedy. Slow and steady wins the race, my friend. The best example that long term, slow, steady investments is the best plan is Warren Buffet.

What other investor do you know of by name?

So on days when you plan to sell gold or silver, do the same sell the same amount, a little bit at a time on the same day of the month. Want to sell your gold? Go ahead, throw in 10% extra and instead of selling $1000 dollars of silver, sell $1100 but don t get greedy and don t go more than 10%. In a bear market, you re not doing yourself any favors by selling all your silver. You re fattening the coffers of a more disciplined investor. If you need help, I’m always willing to give guidance and help to new investors in the precious metals market. Give me a call at Houston Gold Merchants, or go to our website www.houstongoldmerchants.com

About the Author: Brian Jowaisas is the founder and owner of Houston Gold Merchants, a full-service precious metals dealer in Houston, TX which provides a range of liquidation and investment services to its clients in silver and gold bullion.

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By Adrianna Notton

Every year, approximately 100,000 Canadians across the country file for bankruptcy. Unfortunately, there has been an increase in bankruptcy fillings due to the economic decline in the past few years. If you are suffering from personal financial difficulties, such as overwhelming debt, bankruptcy may be the solution. Before you make your decision, it is important to learn about bankruptcy in Canada.

Causes of Bankruptcy in Canada

If you are considering filing for Bankruptcy in Canada, it is important to be aware that you are not alone and you do not have to feel ashamed. Common causes of bankruptcy include: too much accumulated debt such as student loan, personal loan, credit card debt, etc, loss of income due to a job layoff, personal business fails, and the accumulation of overwhelming debt as the result of a serious illness or accident.

What is Bankruptcy?

When filing for bankruptcy, you will be eliminating all eligible debts usually within nine months. When you file for bankruptcy, you will wipe out your eligible debts and make a fresh financial start. It gives you the ability to free yourself from overwhelming debt. To go into bankruptcy, you need to be insolvent which means you have to owe at least $1,000 and not be able to pay your debts when they are due.

How does a Person go into Bankruptcy?

There are two ways you can go into bankruptcy. You can voluntarily file for bankruptcy or creditors can ask the Court to make an Order that you go into bankruptcy which is not that common.

What is a Trustee in Bankruptcy?

A Trustee in Bankruptcy, as described on the website of the Superintendent of Bankruptcy, says, ‘a person licensed by the Superintendent of Bankruptcy to administer proposals and bankruptcies and manage assets held in trust.’ You have to use a Trustee in Bankruptcy to go bankrupt. The role of a Trustee is to work with your creditors on your behalf, negotiate settlement agreements, and provide debt counselling. Once you have gone into bankruptcy, you will no longer have harassing creditors calling you at all hours of the day and night.

Bankruptcy Pros and Cons

There are a number of advantages to filing for bankruptcy. Bankruptcy eliminates unsecured debts and provides protection from legal action, collection action, and the garnishment of wages. However, you will be unable to get a loan, you will take a big hit on your credit score, you may be required to surrender some possessions, and it requires that you keep detailed records of your income and expenses while you remain bankrupt. In the majority of bankruptcy cases, only your creditors will know you have filed for bankruptcy. However, others could find out from public bankruptcy records, but this is rare.

If you are considering filing for bankruptcy, it is wise to talk to a debt/credit counsellor or Trustee to find out all of your financial relief options so that you can make a more informed choice that best meets your personal and financial needs. When you are drowning in debt, the best decision you can make is to take the essential steps to regain financial control over your life.

About the Author: Started in 1992, we are your trusted Credit counseling Whitby firm serving the Durham region. With years of experience in Debt consolidation Cobourg and credit counseling, you can be assured that we get results.

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