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The 5 Laws of Gold: Third Law of Gold

Third Law of Gold

Gold clingith to the protection of the cautions owner who invests it under the advice of men wise in it’s handling.

 

What does it mean?

Your Investment Team. There is and old saying “the most expensive advice is free.” When you ask say your mechanic would ask him for stock tips or rental real estate? Most likely not and if you did would you be surprised if you last money with that investment?

The idea behind the Third Law of Gold is to ask wise and competent people how to invest in that they do. If you ask your stock broker for advice do they do the same or are they investing some where else.

If you want to invest in Real Estate meaning buy and hold ask another investor how they do it not you Real Estate Agent/Broker. Asking a property Manager what rent are is better they asking a Agent/Broker due to that Property Manger has to preform what they say. After the closing Agents/Brokers wash there hand of the transaction. Meaning if they say rents are $1,100 for the unit but the market is only getting $900 who is that going to impact?

 

This was Taken for the book “The Richest Man In Babylon” by George S Clason.

 

Please Leave you comments below. The next law will be out a week after this post.

 

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