Whether you’re just getting started with gold or reevaluating your investments, making a gold plan is never a bad thing to do.
With Minted, we take care of all the technical side of things and make sure your gold buying journey is as smooth as possible. However, we actively encourage users to do their research, educate themselves about gold and learn more about the precious metal. For this reason, we thought we’d put together an article to help those looking to build a gold plan.
1. Read a bit about gold and money
When it comes to managing money, financially educating yourself is only a good thing. Reading and learning about how money works will help you be more in control of your finances and make it easier for you to make financial decisions when the time comes.
For this reason, it’s worth doing your research and learning about how investing, compound interest and gold works. We publish articles every week on the Minted blog to help you understand the intricacies of gold. Be sure to follow us on social media so you can keep up to date! Here are some good articles on the Minted blog help you get started:
- 5 Advantages of Gold as an Investment
- Which Do I Buy: Gold Ingots or Gold Stocks?
- Where Can I Buy Physical Gold?
You can also learn more about gold by going to websites such as MoneyWeek, and you can follow the price of gold through a site such as Metals Daily. You can even take it a step further and sign up to some gold newsletters and follow gold investors on social media. If you know anyone who’s invested in gold before, consider talking to them and seeing what they have to say. It’s always easier to learn about a new topic from someone you trust.
2. Decide how much you should buy
Once you know a little about gold, it’s time to decide how much you want to invest in. You can go all out and make a very detailed plan, or you can simply decide on a certain amount to buy every month – we make it very easy with our monthly gold savings plan.
How do you decide how much gold to buy? We’ve written a detailed article on how much gold you should own, explaining in the end that it really depends on your goals. Most investment gurus recommend anything from 4% to 20% of your portfolio in gold. That’s a pretty large gap, which is why it’s worth understanding what your objectives are. Some good “gold goals” could be buying gold to beat inflation, to diversify your portfolio, or to simply have some emergency savings in case things go wrong.
And if you have no idea how much you should get started with, we can help you with as little as £30!
3. Start buying gold!
Once you’ve decided how much gold you want to buy, the next step is easy: time to buy!
With Minted, signing up and buying gold is a simple process. You just need to head over to our homepage, click on “Create an account” and get started with the sign-up process. You’ll be able to choose whether to contribute a specific monthly amount, or buy a one-off purchase of gold. With our monthly savings plan, you’ll be able to start with £30 – and you can turn off the subscription at any time, no questions asked!
You’ll soon also be able to hold gold in your own Minted account and buy other products within the Minted platform. You’ll soon even be able to send your friends gold – talk about a perfect birthday gift!
4. Check how your gold is doing or get it delivered
As with any investment, it’s worth checking how your gold is doing every now and then. You can simply check your Minted account and see how the price of gold is affecting your own investment. You can also keep up to date with the gold news so you’re aware of what is happening. For example, during the Covid-19 pandemic gold increased significantly while supply had to be paused due to supply chain issues.
Through the Minted dashboard you’ll be able to see how your gold is doing at all times. If you want to adjust your monthly contributions and buy more or less gold, you can do it very easily from the dashboard. You’ll also be able to sell gold at any time of the day on Minted, at better rates than the high street. Once you reach 10 grams worth of gold, you’ll be able to get your gold delivered home, and only pay the Royal Mail shipping fee!
Making a gold plan isn’t as complex as it may seem – the main aspect is to decide what your “gold goals” are and how much you want to contribute every month. The good news is that with Minted, you can start with £30 and see how it feels. Once you feel comfortable with what you’re buying, you’re an official gold investor!