The average Millennial has just $79,764 saved for retirement, according to CNBC. As that’s just 10% of the total amount they require to retire, it’s crucial Millennials utilize every investment opportunity that comes their way. And, there’s no better place to start than with silver as it’s low cost and is sure to yield an impressive return.
A promising prospect
Silver hasn’t had the greatest start to the year, having dropped 3% in value. However, this makes it an attractive prospect for cash-strapped Millennials. 53% say they don’t have the funds to invest even though they want to. But, with silver now trading for less than $15 per ounce, it’s easily affordable. And, there’s no need to worry about your investment losing you cash as it’s predicted that when China’s economy bounces back, so will the value of this precious metal.
Silver is easily accessible
39% of Millennials state that they don’t know the first thing about investing. But as silver is a recognizable metal, it’s something that all Millennials are familiar with and know at least a little bit about. What’s more, it comes in a large variety of formats, including coins, bars, and bullets. As such, individuals looking to invest in a piece of history, as well as a future money-making item have the option of buying silver war nickels, whereas others will opt for standard bars of silver. You could also invest in silver jewelry through a manufacturer like Silverbene.com.
An undervalued metal
Experts in the field state “that silver is dramatically undervalued.” At present, the gold-silver price ratio is trading at just over 85. There have been just a handful of occasions where this price ratio has gone above 80 and its current ratio is the highest figure in 27 years. But, it’s unlikely that this large price difference will last long. Earlier this year, the U.S Mint reported a shortage of silver bullion coins which resulted in some coins selling out. This is a sure sign that there’s significant demand for silver, and everyone knows that when demand exceeds supply, prices increase. Thus, silver has the potential to offer a pretty return to Millennial investors who take action now.
Silver isn’t going anywhere soon
When you think of silver you most likely think of silver jewelry, cutlery, and decorative pieces for the home. However, silver has so much more value than this and it’s increasingly being utilized in multiple industries. Both the medicine and nanotechnology industries have adopted silver into their fields due to its bacteria-destroying abilities. Whereas, industrial markets in some of the biggest countries in the world, including America, India, and China, continue to use more than half of the annual supply of silver. It’s, therefore, safe to say that silver is a sound investment for even the most novice of Millennial investors.
Millennial investors need to act fast to secure silver at a great price. And, by doing so, they’ll ensure that their investment sets them up for life and offers them the future financial protection that they need.
