Old money is a funny term, and it’s one that you probably hear from time to time in regards to certain neighborhoods or friends you know that have inheritances that are sizable. There is also the term “new money”, and that involves what some refer to as the “new rich” or those who were simply inheriting the wealth. So, how do these two very different ideas on money view the current economy and how to prepare for the future?
What is Old Money Really?
Are you really wondering what old money means? I think most people just really aren’t sure what to think of that term if they haven’t heard it before.
The label of old money is the term that coincides with inherited wealth and it is often used to identify with those who seem to come out of the woodwork with money that they didn’t appear to work for. This term has also been used with poor judgment, so it’s important that you be careful how you use this.
I will say that those from an old money mentality did think differently about money and our economy than we do today, and if those folks had been in charge that did the saving, we would be in a much different position right now. So, how does the old money mentality view gold? Yes, they are the ones that bought it!
Old Money Bought Gold When Price Was Right
Just so you are aware, the economy that we have today may make those from the old money crowd turn their head, but they certainly don’t have much to worry about. Why? These folks knew that gold was a currency, and they started buying gold long ago. They also knew how to invest and save, and that is why most of them aren’t all that concerned about what they see happening.
Sure the economy is disheartening to everyone, but the reality is that the old money crowd knew something that new money doesn’t, and that was to pay themselves first.
Sure, our classes teach that, and we have folks like Dave Ramsey pointing that out, and giving us systems that we can use to pay off debt, but does it work? It works if we implement it, and if we do that then we can easily see our finances begin to change.
Old Money Would Tell You to Buy Gold
So, because the old money folks are financially savvy, what would they tell you to do? They would tell you to buy gold. They would tell you to do this because they know that gold is a currency, and they know it will help to protect you against super inflation.
It really isn’t about investing at this point, but we know that gold is a commodity so keep your eyes open on this. Remember gold is universal, so it’s being traded everywhere, and if you haven’t purchased any you might consider this moving forward.
Now that you know what to expect of our “new economy”, are you ready to learn more about how to protect yourself? If you want to heed to the words of those with old money, then CLICK HERE to ask me today how you can buy gold to protect yourself against super inflation.