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Where do wealthy people invest their money?

June 24, 2022 by admin 2 Comments

where do wealthy people invest their money

In 2021, billionaires saw their share of wealth elevate at the highest rate on record. According to World Inequality Lab’s annual Report, their wealth increased from 1% in 1995 to 3% in 2021. Last year, billionaires amassed more wealth than ever before. Do you ever wonder: where do wealthy people invest their money? How do they make their fortunes grow?

In this article, we will explore the different investment options that are available to high-net-worth individuals. We will also take a look at how the rich get richer and find new opportunities to increase their wealth. So, if you’re curious about where the wealthy put their money, read on!

First thing is first, and just as a house need a stable ground, so does your finances. Now imagine how stable ground a skyskraper would need to not fall down in heavy wind…

GoldGold Retired

Even though gold does not back the U.S. dollar or any other currency today, its importance to modern society cannot be overemphasized. To validate this point, one only needs to look at the role that gold plays in the global economy. Central banks and other financial organizations including the International Monetary Fund around the world hold large reserves of gold as a way to ensure the stability of their respective economies. institutional investors also see gold as a safe-haven asset that they can invest in during times of economic and political turmoil. These organizations are responsible for about one-fifth of the annual global gold demand.

“People view gold as emotional, but when they demythologize it, when they look at it for what it is and the opportunity it represents, they’re going to say, ‘We really should own some of that.’ The question will then change to ‘Where do we get the gold?’”

–Thomas Kaplan (over $2 billion invested in gold)

“I view gold as a currency, not a commodity. It’s importance as a currency will continue to increase as the major central banks around the world continue to print money.”

–John Paulson (over $4.6 billion invested in gold)

Gold Preserves wealth

Gold Retired

Another reason wealthy people invest in gold is the fact that it is an excellent way to preserve wealth. Unlike paper money, gold does not get affected by inflation or other economic factors. For instance, in the 1970s, an ounce of gold equaled $35. If that time you had the chance to keep your gold or simply keep the $35, they would buy the same thing. However, today if you have an ounce of gold, it is worth around $2000. This means that gold preserved purchasing power much better than the dollar did.

A Hedge against the dollar

Gold investment vs Dollars investment

Wealthy people understand that the U.S. dollar is in a long-term decline. They also know that other fiat currencies are in even worse shape. This is why many wealthy people have turned to invest in gold and silver. Gold and silver are true original money, they have been used as a medium of exchange and store of value for thousands of years. And, unlike fiat currencies, they can not be created out of thin air by central banks. This makes them a very attractive investment for people who are looking to protect their wealth from currency depreciation.

Gold diversifying Investments

Wealthy people tend to invest a lot of their money in gold. This is because gold is a very stable investment, and it tends to go up in value over time. This means that if the stock market crashes, or if inflation starts to rise, gold will still be worth a lot of money. This makes it a very safe investment for wealthy people.

Gold as a Safe Haven

Gold is often seen as a safe-haven asset, meaning that it tends to maintain its value or even appreciate during times of economic turmoil. This is because investors view gold as a store of value that is not subject to the same type of volatility as stocks or other investments. For this reason, many wealthy individuals choose to invest a portion of their assets in gold.

Gold Retired

When there is political tension like in the case of Russia Ukraine war, people start to worry about inflation and the safety of their money. This is when the demand for gold goes up, and the price of gold increases as a result of this. Wealthy, people invest their money where they can protect it or use it to escape the turmoil.

**See our Top-3 List of Gold & silver firms (+ buying guide)

Silver

This is also a precious metal like gold and is often used as an investment. Silver is abundant enough that it’s not as rare as gold, but still, its value is very high. It has amazing physical properties that make it very useful in industry. It’s also used in jewelry and coins. This makes it a good investment for those who want to invest in precious metals. Some of the wealthiest individuals such as Warren Buffet have a large portion of their wealth invested in silver. Like gold, the price of silver can be volatile, but it’s a good long-term investment.

Real Estate

Real estate is one of the most common investments for wealthy individuals. Why? For one, it’s a physical asset that can appreciate in value over time. And two, it provides a steady stream of income in the form of rent payments.

But investing in real estate isn’t as simple as buying a property and collecting rent checks. There’s a lot of work that goes into being a successful landlord, from screening tenants to maintaining the property. And of course, there’s always the risk that the property could lose value.

Still, for many wealthy investors, real estate is a core part of their portfolio. Many billionaires including Warren Buffett, Bill Gates, and Donald Trump have made a fortune investing in property. Larry Ellison has invested in real estate with a portfolio of over $1 billion.

Cryptocurrency

Bitcoin

Cryptocurrency is now the trend when it comes to investing, and a lot of wealthy individuals are now putting their money into this. In 2017, the total market capitalization for cryptocurrency was around $600 billion and has grown even bigger.

“If you´re a true adventurer and you really want to throw the Hail Mary. you might want to take 10 percent and put it in Bitcoin and Ethereum”

– Mark Cuban (ABC´s Shark Tank investor, Owner of Dallas Mavericks)

“Three eras of currency: Commodity based, e.g. Gold. Politically based, e.g. Dollar. Math based, e.g. Bitcoin”

-Chris Dixon (co-founder of Hutch)

There are a lot of reasons why wealthy people are investing in cryptocurrency. For one, it’s a very volatile market, which means that there’s a potential for high returns. secondly, it’s a very new market, which means that there’s still a lot of room for growth. Lastly, it’s a very decentralized market, which makes it less susceptible to manipulation by governments or financial institutions. For instance Bitcoin, the most well-known cryptocurrency is not controlled by any government or financial institution. It has gained more than 1700% since January 2017. This makes it one of the best investments in recent years.

**How to invest in Bitcoin from your retirement account

Global Equities and Stock Funds

According to a study by Capgemini, nearly 60% of high net worth individuals invest in stocks and stock mutual funds. This should come as no surprise, as stocks have historically been one of the best-performing asset classes. However, keep in mind that billionaires are a different class from us. They can afford to take more risks. A 100% loss of investment will not threaten their financial security or their lifestyle. For the majority of us, it would be devastating.

**Get the best stock advice available from this resource

Where do rick people invest their money? – Conclusion

Generally, gold comes as the perfect investment for those who want to keep their money safe. It is a long-term investment, and it has proved its worth over time. Wealthy people tend to be diverse and for this reason, they also invest in other assets such as real estate, stocks, and bonds. This allows them to have a well-rounded portfolio that can offer stability and growth. Never put all eggs in the same basket, right?

So, in short: Where do rich people invest their money? They spread it out into different baskets!

Let´s finnish this article off with another quote from a super wealthy and true High-Net-Worth individual:

“With the same things that were done in 2000 and 2001, when it was temporarily solved with big expenditures and very aggressive monetary and fiscal policy, aside from lowering taxes, we should be directing more money to the real economy, not to the financial economy. The volatility of the markets is so great that more is won or lost in a single day than in five years of accumulated interest. And that’s not a good thing.”

-Carlos Slim (most likely the world’s richest man, net worth $55 billion)


I hope you found this short article to be helpful? Please share your own experience and opinions in the comment section below as it can help others! Also, if you got any questions about this I would be more than happy to answer them below!

I wish you the best and lots of success!

Michael, founder of Gold Retired

Filed Under: Gold, Informational

Augusta Precious Metals Complaints | You Won´t See This Elsewhere!

May 12, 2022 by admin Leave a Comment

Augusta Precious Metals complaints

On this page we are going to go through all the Augusta Precious Metals complaints to be found online. In an effort to decide if this gold IRA specialist firm actually deserves to be as extremely popular as it has been in the last couple of years? Worth to mentioning here is that their popularity is mainly among “bigger investors” or in other words, very wealthy retirees. The obvious reason for that is due to their minimum investment amount for gold & silver IRAs starting at $50,000. The average investment amount of their clients (according to the company) is around $600,000 and not very seldom $1Million+ so yeah, this company can be called the creme de la creme of gold IRA dealers.

Ok, let´s get started to look at the complaints that are to be found on this “rich retirement savers club” called Augusta!


P.S. Before we get started I just want to mention that I have written a more detailed report on the overall service of Augusta Precious Metals that you can read on this page instead. Ok, with that said, let´s jump into this post´s main topic on their complaints from reviews to be found online!


Reviews on Augusta Precious Metals (with focus on complaints)

Let me explain how we have conducted this research first. What we (always) do when we review any particular gold investment company on this site is that we ALWAYS start by looking at the most well-known and trusted independent third-party consumer protection agencies. The reason for that is simply because that is where you (most likely) will find the most accurate information about the company you want to look deeper into, right?

So, what are the most well-known and trusted consumer protection agencies then? I normally call them the BIG 5, and those are (in no particular order):

  • BBB (Better Business Bureau)
  • Trustpilot
  • Trustlink
  • BCA (Business Consumer Alliance)
  • Yelp

Ok, so let us start by looking into these 5 big ones above one by one and see what we can find!


BBB reviews & complaintsbbb

Rating from BBB: A+ (highest rating possible from BBB)

Rating from clients reviews: 5 out of 5 stars (5 / 5)

Reviews: 104

Complaints: 0 (zero)

Visit the Augusta profile page on BBB here (opens in new window)

Our conclusion from these results:

As you clearly can see above, the results are very impressive on the BBB website, as a matter of fact, I have never seen a gold IRA company that have recieved more reviews on a BBB profile than Augusta. In the same time, they got highest possible ratings from the agency itself + pretty much 5 stars overall from their customers. Ok, this was boring, it would be more fun to present some nasty stuff here but sorry, not this time! Let´s move on to the next consumer protection agency!


Yelp Reviews & ComplaintsGold Retired

Ratings from the client reviews: 5 out of 5 stars (5 / 5)

Reviews: 4

Complaints: 0 (zero)

Visit the Augusta profile on Yelp here (opens in new window)

Our conclusion from these results:

Here we didn´t find the same huge amount of reviews from Augusta customers and the few (only 4) we found was all top-ratings. So… this was a bit boring as well. Where is the nasty stuff? Let´s move on!


Trustpilot Reviews & Complaintstrustpilot logo

Overall rating: N/A

Reviews: o (zero)

Complaints: 0 (zero)

Visit the Augusta profile on Trustpilot here (opens in new window)

Our conclusion from these results:

This was actually a bit surprising to see, that there was not a single review from customers on the Trustpilot website. Not sure why the reason for this is but am a bit confused by this actually. If you got any idea of why this is the case then please leave your opinion in the comment section below this page. Anyway, let´s move on!


Trustlink Reviews & Complaintstrustlink

Overall rating: 4.9 out of 5 stars (4.9 / 5)

Reviews: 282

Complaints: 0 (zero)

Visit the Augusta profile on Trustlink here (opens in new window)

Our conclusion from these results:

Well, not much to say here other than congratz to Augusta Precious Metals AND their customers as both parties are apparently very happy with the business relationship. With an overall score of 4.9 out of 5 from 282 you cannot be anything other than impressed, not sure what else to say about it. Let us look at the next consumer protection agency!


BCA Reviews & ComplaintsBCA

Overall rating: 4.9 out of 5 stars (4.9 / 5)

Reviews: 92

Complaints: 0 (zero)

Visit the Augusta profile on BCA here (opens in new window)

Our conclusion from these results:

Again! Very impressive results and not a complaint in sight from close to a hundred (92) reviews on the Business Consumer Alliance website on Augusta. Are you starting to see why they are such a popular chooice among high-networth retirement savers? Yes, so do we and both me and the rest of the team at Gold Retired have to take our hats of for Augusta. They do not only have a pretty much flawless track-record when it comes to reviews and ratings but they clearly do things a bit different than other gold IRA companies as well. In a positive way!


Augusta do things a bit different!

As you can see (example screenshot below) when reading some of the reviews you can tell that their customers appreciate the one-on-one help from the Harvard trained economist working at Augusta. They also seem to appreciate the ongoing support for the life-time of the customer, instead of being ignored after the deal is done like we unfortunatly see many other precious metals IRA dealers in the industry do.

augusta precious metals reviews


Is there not even one complaint on Augusta?

As you can clearly see above, we didn´t find a single negative comment about the company on ANY of the “big 5 consumer protection agencies”, that are the most respected in the industry. That is pretty un-common, almost unique I would like to say, and also extremely boring. Like I always say, even Mother Theresa had haters, right?

So, we went to other “less respectable” websites to search. Mostly for fun as we do find it extremely pontless to search for complaints outside of the main agencies. I know that might sound synical, but try to see it through our researching eyes!

As always, when you want to find something hard enough, you will find it so here it is on a website called RipOff Report where there actually was 2 complaints to be found. If they are real and legit ones is a whole other story though…

If they are actually written by real customers or from a competitor is another story, I find it a bit suspect that the only complaint to be found was outside the reliable consumer protection agencies. One of the complaints is also about so-called home storage IRA scams, and that is even weirder as Augusta do not offer home storage, it is actually not even allowed. So what´s going on here?

Important to mention:

Keep in mind that anyone can write anything online on many places, that is why we put the most weight on the “big 5 consumer protection agencies” as you have to actually be a client to be able to write a testimonial there.

Pretty much everything outside of those, are great platforms, and a great “opportunity” for competitors to trash talk eachother while they can pretend to be a customer while they in reality aren´t. This is more common that you might think, especially in a market like gold, as it is a very lucrative one, not to mention the cryptocurrency market.

Anyway, so please keep that in mind if you would find some horrible comment about Augusta, or any other company that you know is treating their clients in a very good way. It might very well be an agent hired by their competitors to trastalk and “troll”  to make the company they work for look better. Yeah, you get the point, and I think that might very well be the case here with these 2 complaints above.

Let´s be fair and honest here shall we?

We had to dig deep and on “questionable” places to find those 2 complaints above, right? I have been in this industry for 7+ years. I can pretty much assure you, that you won´t find a gold IRA company that hasn´t got at least the same amount of complaints to be found. Most will have a lot more, and worse! You will even find lawsuits filled against companies that are very well-known, you might be surprised on some of the names.

Again, if you research places outside of the big 5 agencies, you will find complaints on all of them, and that is not a big deal, as long as the complaints aren´t found on the “big 5” consumer protection agencies. If you would find complaints on those (big-5) websites, then it could be a red flag, at least if they are more than just a few. Of course, you also have to take the actual amount of reviews into consideration as well. If a company got tens of thousands of reviews, then 100 complaints might not be that serious, right? It would be worse if you found 100 complaints on a company that only got 500 reviews in total, right?

Let´s include some other platfroms (that we normaly don´t put much weight on)

We also haven´t included that Augusta got top-ratings from platforms like Google and Facebook yet, but they do!

Google: 5 out of 5 stars (5 / 5) (from 186 reviews)

Facebook: 5 out of 5 stars (5 / 5) (from 68 reviews)

The reason I didn´t include these further up on the page is simply because I do not consider those 2 platforms to be nearly as legit as the top-5 agencies, when it comes to reviews and ratings of a company.

Anyone can write whatever they like and feel on Facebook and Google and not just real customers like the case is with the big 5 consumer protection agencies.

However, as I digged halfway to h##l to find those 2 complaints on Augusta (that I do not put much weight on either) I felt I had to mention the top-ratings from some other websites that I do not give more than 5 cents for either. Fair enough, right?

Conclusion:

Well, mission accomplished I would say, we managed to find some complaints as that was the whole focus of this research. Even if the “complaints” we found aren´t anything to be alarmed by, we think the scores and ratings from the “big-5” speaks loud and clear. Those numbers and stats do not lie and that is where I suggest you look when you want to research the credibility of a particular company.

Gold Retired

You are a smart person, I know that because you wouldn´t have read this page if you weren´t, you clearly understand the importance of doing your due diligence, right? Unfortunatly, that is not the case with around 90% of investors out there I would say. I am absolutely sure that you will find the right company to do business with and that suits your particular needs the most.

First of all, you should feel comortable doing business with a firm and that starts with trust.

If you are a high-networth retiree then I would say that you might have just found your top-contender with Augusta. You might remember that their minimum IRA investment starts at $50k so if you are planning to put that or more into gold & silver then I cannot do anything else than recommend that you look at what Augusta has to offer. If you plan to invest less than that you got my other recommendations for that below as well:

Augusta Precious Metals (minimum IRA starts at $50,000)

Goldco (minimum IRA starts at $20,000)

Advantage Gold (minimum IRA starts as low as $5,000)


I hope you found this short post on the complaints to be found on Augusta Precious Metals to be helpful, or at least entertaining and that you know have a clearer view on the subject. Please share your own experience in the comment section below as it can help others make better investment decisions!

Much success to you!

Glanz, investor and team member at Gold Retired!

You might also like:

How to avoid gold IRA Scams!

Gold in War | Hedge against inflation

How to protect your 401(k) from a market crash

What does the Bible say about retirement | gold & silver

How to invest in cryptocurrency from your retirement account

How to avoid cryptocurrency scams

Filed Under: Gold

Gold vs. Real Estate | Let´s Compare Them to Decide a Winner

April 29, 2022 by admin 2 Comments

Gold Vs. Real Estate

Deciding what kind of investment you want to make is the first step in growing your money. Gold vs. Real Estate is often the question? One of the most lucrative ways to make money is through real estate & gold investments, which are both safe and predictable.

Contrarily, putting money into gold may be riskier because of the long-term nature of its returns. When you invest in real estate, you get a steady stream of income; when you invest in gold, your money is tied up until you sell it. On the other hand, gold has been passed down from generation to generation and has seen a significant rise in value over time.

So, gold or real estate: which is a better investment? This isn’t an easy question to answer; not only does your geographic location matter, but so does your specific investment goal. Here are a few reasons why we should think about purchasing real estate or gold as a means of securing our financial future:

Gold Investment vs. Real Estate investment

Gold and real estate investments are based on various factors, and we’ll begin with the rationale for doing so.

Reasons why you should invest in GoldGold

The following are the most compelling reasons why investing in gold is a wise decision right now:

  • A high degree of market liquidity

Many people consider gold to be the safest type of investment because it is highly liquid. Selling your gold should never be a problem if you find yourself in a position of need. The money will be transferred into your account without the need for your signature on any contracts, performing any repairs, or staging anything.

  • The ability to outpace the inflation rate

When you invest in gold, there is a good chance that you will outperform inflation over the long term. Even though the price of gold has been steadily rising for several years, it is scarce that the economy experiences a downturn that lasts more than a few months.

  • A safe investment

What entices people to invest in gold is that it is a tangible asset. There is a low risk of losing money because of this. In addition, buying gold is a simple process that we can perform at any local jewelry store or by a few clicks of a button online.

  • Helps in diversifying

Even if you already have a real estate investment portfolio, it is good to broaden your investment horizons. Many investors make it a point to include at least a little amount of gold in their portfolios to achieve this goal. Keeping it between 5 and 10% of your total portfolio should provide a healthy buffer if you need to liquidate your investment assets quickly.

Also read:

==> Gold Investment for Beginners

==> See my Top-5 List of Gold & Silver Investment Companies (Direct purchase or inside IRA)


Reasons why you should invest in Real EstateReal Estate investment

Many investors prefer to engage in real estate if they have the necessary funds or can obtain a loan to cover the essential expenses. The following are a few of the reasons why this is also a good move:

  • An alternative to gold

The purchase of real estate is a good alternative if you do not want to put all of your money into gold investments. This means that you can invest in real estate to diversify your investment portfolio. It also implies that you’ll have a place to live in the event that you can’t afford to buy one.

  • The ability to expand the value

Even though we cannot directly influence the price of gold, we may influence the value of your assets by increasing their worth. A homeowner may consider making alterations to their home to improve their comfort.

If they want to sell their property for a more excellent price, they can also spend on renovations, upgrades, and repairs to increase the value of their property. This will make it easier to sell or rent the property at a greater rate in the future. Hopefully, the extra revenue will be sufficient to cover the costs incurred.

  • Ability to both use and make money.

In some cases, if you own a piece of real estate, you can live in it while also renting out a portion of it to other people. You will be able to live rent-free, earn revenue through rental income, and be nearby in the event of an emergency.

In particular, apartment returns have proven to be a fantastic alternative when we want to ensure that we have a consistent stream of income flow. A loan against your investment assets may potentially be an option to consider.

Also read:

==> Invest in Real Estate (and/or) land in Central and South America


Comparing Gold Investment and Real Estate Investment

Gold or real estate investments are excellent choices, but several circumstances will impact each person’s most outstanding choice. The following are the considerations to consider while deciding whether real estate or gold is the best investment for your requirements and circumstances:

  • Volatility

The level of price security we have is determined by the volatility of an investment’s returns. The more volatile a market is, the more likely investors will avoid it. Similar principles apply to every investment asset; if its price is not consistent, it will not provide investors with an accurate indication of its value.

Compared to other investment possibilities such as gold or other precious metals, real estate has a relatively low level of volatility. Having a sense of how much property is worth you own and how much money you can expect to gain when selling it in the future becomes much more manageable. An investor can begin by looking for used mobile homes for sale and work their way up the ladder in a predictable fashion.

On the other hand, Gold does not provide the same level of solidity. Even though its price is continually increasing, we cannot wholly rely on it. As a result, it is a particularly volatile asset, with its value changing regularly. The adjustments could occur almost daily and are determined mainly by the state of the markets.

  • The tenure of the investment

Unless you’re trying to make a long-term investment in gold, there’s no reason why you should limit yourself to just one asset. The property will need a significant commitment of resources, but it will also generate consistent income while gradually increasing in value over time.

However, if you are looking for a long-term investment, gold is a good option. Real estate may be a preferable option for those who don’t want to be enticed to liquidate their investment holdings.

Suppose you want to maximize your return or have the flexibility to liquidate your investment whenever you want. In that case, gold may be the ideal option for you to consider investing in.

  • Tax benefits

The tax advantages associated with real estate are what distinguish it as an investment. Here, we have to consider the expenditures of maintaining and repairing our property, as well as the depreciation and loan tax deductions that we might claim. Your monetary future self-sufficiency depends on how much you gain from these tax breaks in the present. 

Generally, if you have gold deposit score certificates, the income you earn is exempt from taxation in most circumstances. On the other hand, investing in gold will result in the payment of capital gains tax. Remember to research the laws and regulations in your state and municipality, as they may differ from one region to another.

  • Level of liquidity

Gold is the more liquid of the two assets. The sale of your real estate may take several months or even years, depending on when you decide to sell. In addition, you’d have to complete a significant quantity of paperwork, go through a great deal of red tape, and adhere to several formalities such as stamp duty. Taxes are a different story, but the bottom line is that the selling process will be time-consuming and exhausting.

When you acquire a home instead of selling one, you may encounter the same issues and difficulties. In either case, both parties are responsible for the cost of the process and for following all of the steps appropriately.

In contrast, gold is a comparatively simple commodity in terms of acquisition and disposal. No primary paperwork is required for us to purchase it. It’s not difficult to find dependable purchasers when it’s time to sell a home.

Conclusion.

It doesn’t matter whether you decide to invest in gold or real estate; you’re committing. Examining the advantages and disadvantages of the two options should assist in reaching a selection between the two alternatives. Starting now, keep this in mind as you grow your investment portfolio, and make sure to factor everything in before you buy!

Thank you for reading!

Michael, founder of Gold Retired

Also read:

Gold in War | What is it good for?

Top-5 List of Gold IRA Service Providers

How to Avoid Gold Scams

How to invest in cryptocurrency with your retirement account

Filed Under: Gold

What is International Bullion Exchange? | Gold IRA Reviews

April 9, 2022 by admin Leave a Comment

Today we review the IBX company. What is International Bullion Exchange (IBX)? How good are their precious metals IRA service? Is the company a scam or legit? What ratings do they get from the consumer protection agencies? This and more in this short review! Ok, with that said, let´s start!

Company: International Bullion Exchange (IBX)What is International Bullion Exchange?

Website: ibullionexchange.com

Founder: William and James Alderdice

Price: Depends on the type of investment you make

Who is it for? Retirees and precious metal investors

Overall Rating: 3.5 out of 5 stars (3.5 / 5) (average)


Important to mention (before we go into more details of this review)

We strongly recommend doing your research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.

One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.

Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls. 

You are a smart person, so I am sure that you understand the benefits of dealing with such a company instead, right?

+They got a couple more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.

==> See our Top-5 List of Precious Metals IRA Companies on this page <==

With that being said, let´s continue with the review on IBX!

[Read more…]

Filed Under: Gold

Fairpoint Discount Gold Group Review | Is it a Legit Biz?

April 8, 2022 by admin Leave a Comment

As soon as we come across a gold company we have not reviewed yet, we jump on it! This is a Fairpoint Discount Gold Group Review. Let´s look at the pros & cons of this company, and see if it is one that you should pay attention to or simply ignore. Ok, with that said, let´s look into it!

Company: Fairpoint Discount Gold GroupFairpoint Discount Gold Group Review

Website: fairpointgold.com

Owner: Not mentioned on their website (bad sign)

Founded: Not mentioned on their website

Who is it for: Precious metals investors, mainly retirees

Overall rating: 2.5 out of 5 stars (2.5 / 5) (below average)


P.S.Gold Retired

See my #1 Recommended Gold & Silver Investment Company on this page

Or,

See my Top-5 List of Gold & Silver Investment Companies here


What is Fairpoint Discount Gold Group?

Fairpoint Discount Gold Group is complay that provides clients with the two most popular precious metals, gold and silver. So in short, it is a precious metals retailer. On their website there isn´t much information on ownership of the company or founders. However, I managed to find that the company has been in business for only 4 years on the BBB website, and there I also found Craig Kennedy as the only name connected to the company, on the BCA (Business Consumer Alliance) site I found a Mike Williams listed as the Manager of the company.

Is Fairpoint Discount Gold Group a ScamThere is a phone nr to call and also a form you can fill out in order to get in contact with representatives of the company.

The only address presented on their website is: Reno, Nevada 89521

How does it work?

In short, this is a place where you either A: purchase gold and silver directly or B: buy gold or silver into a precious metals IRA 

The products & services

The products are gold & silver in the for of mainly coins it seems that you can either purchase directly or within an IRA. There isn´t much precious metals displayed on their website though, not even on what IRA approved gold or IRA approved silver they got to offer.


Gold & Silver IRAs?

Yes, gold IRA services are offered by the company, it one of their main services. This is a good thing, as gold & silver IRA´s are a great way to hedge against inflation (as mentioned on their website), it also got some tax advantages as well.

What IRA custodians are they partnered with?

Again, there is no info on their website about the custodian (or custodians) they are partnered with, and plan to connect you with.

The fees?gold

No info about this either on the Fairpoint Gold website.

Important to mention here: It is absolutely crucial that you know exactly what fees you are going to have to pay before you sign anything. There are so many horror stories online of people who get surprised with so-called hidden fees they had no idea of before hand. So please make sure that you know exactly what it is you are going to have to pay for beore you sign anything. What you want from a gold dealer and custodian is 100% transparency.

**See my #1 Recommended Gold & Silver IRA Solution (100% transparent & highest price buy back guarantee)


Can you sell back to the company?

Again, no info at all about this on their website.

How good is their support?

Something I put a lot of weight on when it comes to the support system of a company is i they got a live-chat function on their website or not. airpoint Gold do not have this. They got the form you can fill out and a phone nr.

Is Fairpoint Discount Gold Group a Scam?

So, is Fairpoint Discount Gold Group a Scam? Hard to say, no but seriously, I do not think it is a scam.

However, if it is the best place for you to invest in gold & silver is a whole other story… That leads us to what the most well-known and trusted, independent third-party consumer protection agencies have to say about them:

Fairpoint Gold Group Reviews, Ratings & Complaints

BBB (Better Business Bureau)

Rating: NOT BBB accredited click here for details (opens in new window)

Trustpilot

Rating: N/A

BCA (Business Consumer Alliance)

Rating: A (from 0 reviews) click here for details (opens in new window)

Trustlink

Rating: N/A

Yelp

Rating: N/A


Conclusion from these reviews

Well, as you clearly can see above there isn´t much to be found on Fairpoint Gold Group from the consumer protection agencies. What we found was basically zero reviews from their clients, and that it is not BBB accredited.

I don´t know about you but I would feel more comfortable doing business with a company with HUNDREDS of positive reviews on ALL of the above consumer protection agencies.

**See Top-5 Rated Gold & Silver Retailers (inside or outside an IRA)


PROs & CONs of Fairpoint Gold Group

The positive

  • Offers both direct purchase as well as IRAs
  • No negative reviews to be found online

The negative

  • Very new business (founded in 2018 according to the Better Business Bureau)
  • No info on what IRA custodians they are partnered with
  • No info on their fee schedule on their website
  • Not accredited by the BBB
  • No ratings from the consumer protection agencies such as Trustpilot for example

Do you own or represent this company?

Are you an owner or representative of Fairpoint Gold Group, and have found something in this review to be un-correct then please tell us and we will make sure to update this page with the right information. The easiest way to contact us is by leaving a message to us in the comment section below, or by simply sending us an e-mail at: contact@goldretired.com


Final words & verdict

Verdict: Legit
Overall rating: 2.5 out of 5 stars (2.5 / 5) (below average)

Ok, I think this sums up the overall view of this company pretty well. I think it is a legit one, however, the website lacks a lot of info and there is nothing to be found on them from the most well-known consumer protection agencies, other than it is not an accredited business by the Better Business Bureau.

So for now, I can not give a higher rating than a low, below average 2.5 out of 5 stars possible. This can, of course, change to eaither a higher or a lower score in the future as we make sure to update our reviews as soon as something new comes up on a particular company.

Ok, now what?Gold Retired

First of all, you did a wise thing to read this review and that tells me something about you, that you already understand the importance of doing your due dilligence and research before you invest. That is a good thing obviously, I just wish more people did that.

You are a smart person, and I am absolutely sure that you will find the right company to do business with and that suits your particular needs and that you feel comfortable to invest with.

Just make sure to compare the top-alternatives against each other and you will be fine!

Gold Retired

See my #1 Recommended Gold & Silver Retailer (direct purchase and IRA)

Or,

See my Top-5 List of Gold & Silver Retailers (direct purchase or IRA)


I hope you found this short review on Fairpoint Discount Gold Group to be helpful and that you now got a better understanding on what it is and if it is something for you or not. Please share your own experience with this company in the comment section below as it can help others! Also, if you got any questions about this I would be more than happy to answer them below!

I wish you the best! (and lots of success)

Michael, founder of Gold Retired

Filed Under: Gold

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