64 Year Old Retiree Loses $152,496 Within Seconds Of Buying Gold

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“Our mission at Focus Financial Education Network is to empower investors with the up-to-date information they need to preserve and protect their retirement wealth from the market, taxes, and bad advice.”

Brian Appleton, Managing Partner

A 64 year old man from Texas bought more than $275,000 of gold from a retailer in his home state, after being pressured to make the purchase using some rather questionable high pressure sales tactics. 

When the man later had his investment assessed by an independent third party he was shocked to find out that his investment was only worth about $125,000 dollars.

Meaning he lost $152,496 within seconds of making his investment.

Unfortunately, this story isn’t uncommon for the industry. 

The precious metals industry is heavily unregulated in most states.

Just about anyone can open up a retail shop and start selling physical gold and precious metals, and they can hire anyone they want to work for them.

Even ex-convicts.

The people that work for retail shops don’t have to go through background checks or be licensed with the state.

That means people who just got out of prison could be dealing in your personal information.

Many people are giving their name, address, social security number, total net worth, and even the location of their safe to someone who may have been convicted for robbery a few months earlier.

It may seem hard to believe, but it’s true.

In Minneapolis there were nine retail shops selling gold and other precious metals about 10 years ago.

That year the state passed a law requiring background checks, and in the same month the law was passed all nine of those businesses left the state!

New Minnesota coin law targets shady dealers

In addition to watching out for shady dealers, there are the 3 C’s to not getting ripped off when buying gold and other precious metals which are…

  1. Watch out for Counterfeit.
  2. Don’t use Collectables as an investment strategy.
  3. And always ask if the coins you are buying are Cull.

Gold and other precious metals are a great investment for any smart investor wanting to protect their retirement wealth as they can help you…

  • Balance your total investable wealth over time if the stock market crashes.
  • Protect your purchasing power from the dropping value of the dollar.
  • Give you stability during times of inflation.

Not investing can leave you exposed to market crashes and bad economies, which can devastate many people about to enter or currently in retirement. 

Be sure you know exactly How Much, What Kind, and Where you should get your gold and other precious metals before you invest so you don’t get ripped off.

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  • How One Gentleman Lost More Than $150,000 Within Seconds Of Buying His Gold And How You Can Avoid Being Ripped Off By Large Retail Shops.
  • Why Now Is The Perfect Time To Invest In Gold & Other Precious Metals To Have a Truly Balanced Portfolio and “Total Wealth Protection” From Increasing Inflation, Decreasing Purchasing Power, And Stock Market Crashes.
  • What Kind, Where, And How MuchGold And Other Precious Metals You Should Get For Your Specific Situation And Goals For Retirement.
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