Perhaps this belongs in IMHO, and if so Mod, move it.
I’m pretty pessimistic about the stock market in the future for some time. I’m retired and living on a pension and social security, so all our other savings are in stocks and bonds. We never have to touch the principal. We won’t need these stocks and bonds but I want some protection for what will be left to our kids when we go to the Happy Hunting Grounds.
I know that it is advised to have perhaps ten percent in gold as a hedge for inflation, but from what I can see will happen in the future such as the market continuing to decline, the govt printing more money for useless bailouts, etc, I see a very long period of hard times.
I’m thinking of converting some stocks (taking a deductible loss on the tax forms) and putting it into gold, bullion or coins. I know gold prices can fluctuate, but from what I can foresee, as a complete amateur, is that it is likely to hold value or increase in the next few years.
Is there any consensus among financial people as to the advisability of increasing personal investments into gold?
Any particular coins better than others, such as the American Eagle vs the Krugerrand?