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Let’s demonstrate the effects of inflation with a simple example
Suppose you have $1,000 in a savings account today, and it is continuously discounted by an annual inflation rate of 6% over a 10-year period. After ten years, you will still have that same $1,000 but it will only be able to buy you $560 worth of goods and services.
Many people do not like risk and use traditional banking products such as savings accounts because they think that their money will be safe. In fact, it often feels safe. The reality is that even if that account pays interest, it is not enough to offset the effects of inflation. Ultimately, the price you will pay for this perceived safety is the slow reduction of your wealth.
If ignored, inflation becomes a significant threat to your long-term financial future and freedom. If your savings and investments are not growing in line with inflation, you will end up in a worse financial position in the future. This concern leads many people to seek financial alternatives that reduce risk while offering flexibility and control over their money.
Can Protect Your Wealth
Precious metals such as silver and gold can protect you from the effects of inflation because they are valued differently. Paper currencies are issued, backed, and assigned a fluctuating value by governments. In contrast, the value of precious metals is tangible and permanent. They are real forms of money that have proven to maintain their worth over thousands of years.
Precious metals offer stable value that you can use to reduce the harmful effects of inflation and protect your wealth. Silver and gold have become attractive financial options for many people, and it is now easier than ever to use precious metals in your everyday life.
History of Precious Metals
Silver and gold have been held in high esteem and coveted by humans for thousands of years. They became ‘de facto’ money around 600BC when used for trade in the form of coins. These precious metals have historical track records as stable money. Silver and gold are practical, trusted units of account.
Ready to protect your weatlh?
Connect with a LODE Ambassador today to find out how you can use digital silver and gold assets to better secure your financial future.