Not many know who Ron Swanson is, and that would be understandable. As a television character, and a stoic one at that, he is not as appealing like a Lord Blackadder or The Stig, a more appropriate comparison. When watching him, however, one would find it hard not to live life like Ron did, especially when it comes to his attitude towards money.
Frugal, libertarian and hardworking, he famously used his earnings to buy gold bars. In one scene, his personal worth was supposedly so high he never has to work again. By connecting the dots, it is easy to see how he is so financially secure. His investment in gold pays off mightily, though not without a few sacrifices.
What is the lesson here? After you buy gold, do not sell it for an incremental profit.
Not Really for Everyone
The gold trade is very similar to stocks trade, but the two differ on the capital requirement. Sure, it is possible to get into the business by starting small, quite literally, by buying an ounce or a gramme of gold regularly. This is a viable strategy when trading stocks, but not so much in gold. Atkinsons Bullion notes that to make it big in gold, people have to buy big.
There is a kind of certainty about gold. Like stock, its value swings back and forth. To anyone who procures or is planning to procure gold, sit on the precious metal for a time. Again, like in stocks, observe the market until you can predict trends (or just read the news like everybody else.)
Any potential gold enthusiast must take note that there is no broker for gold. People buy and they are solely responsible for what they buy. They watch the market and find buyers that will give them a good price on their gold. It seems daunting, considering the money involved, but if there is intent to earn big (and sell big), there will be time to grasp the learning curve about the gold trade.
More than money, patience is a good virtue when it comes to gold. Take the ‘sit on it’ advice to heart not to worry about losing potential profit every time the market shifts. There is a right time, so do not worry.