People often ask me if gold is a good investment. I always say that gold may be a good long-term investment for an investor, but I am a wealth creator, and the word "investment" is not in my wealth creation vocabulary.
When I say this, the person I'm talking to usually looks very confused.
And that's what happened to Walter. Walter works at a bank and is having trouble making ends meet. He came to me to learn how to get rich. (Yes, I'm sure, there are tens of thousands of bank workers who are having trouble making ends meet.)
"So, Charles, if you had an extra $25,000, you wouldn't even think about trading it for gold bullion?"
"Dear guy, why would a rich person trade something worth $25,000 (like money) for something else worth $25,000 (like gold)?" Don't you think it was a waste of time?
"But gold's value could go up while the value of your money goes down. Isn't gold a hedge against these things?"
"Yet, the price of gold could go down and the value of the currency could go up, too. What you are thinking about is surely just a form of gambling, right?"
"By that reasoning, all investments are the same as gambling, since the price of any stock or good can go up or down. Because of this, it's important to weigh the risks.
"That's right, and that's why I'm a creator of wealth and not an investor or speculator. Investors and speculators hope and pray for something to happen in the future. A wealth creator, on the other hand, insists on making money at the time of purchase.
"But Charles, you can't buy gold bullion at wholesale prices. As you know, the spot price is set every day."
"Who said I had to buy it at wholesale price? I'd rather be an alchemist and turn trash into gold."
The young moon's face turned red with anger. "Oh, Charles, please take me seriously and stop messing around. I really want to be rich one day, but I can't see that happening on a bank teller's salary alone.
'Oh but I am being serious. Turning trash into gold is a fun hobby. The challenge is not whether or not you can do it, but how quickly you can complete each step of the goal you set for yourself.
'An enjoyable hobby! ... But how do you even do that?'
"All you have to do is decide to become a wealth creator, make your own part-time wealth programme, and stick with it. In addition to my book The Secrets of Wealth Creation Revealed, I've written a lot of free articles that are now all over the web. Study them and then get started right away on your plan to get rich. Turning dross into gold can be done in a thousand and one different ways. It's a matter of first knowing the rules, then making a plan that can be easily managed, and finally having the courage to stick with it.'
"You said that you set "goal stages." Could you give me a short example of how that works?"
"Well, if you want to collect gold, I would have a garage or yard sale of all the useless things I own (dross) to get some money to get started." I'd take that small amount of money and, since time doesn't really matter to the success of this plan, I'd take my time to go to thrift stores, yard sales, auctions, etc., and buy things I know I can sell for more than I paid for them.
I would make a list of what I thought these things could be sold for (total wealth) and keep buying and selling until that list was worth about $9,000.00. Now, I know that sounds hard to do right now, but please understand that if you work on a minimum markup of 200 percent, this can be done so quickly. That means that $150 in sales turns into $500, which turns into $1,350, which turns into $4,050,00, which turns into over $12,140,00, and so on.
Now, as I said, stage 2 of my plan to get rich would start when the value of all the goods I own goes over $9,000. That is, I would save the money from the next roughly $3,000 worth of sales (depending on the spot price) and use it to buy a 5-ounce gold bar.
The remaining stock would still be worth at least $6,000.00 if it could be sold. The next thing I would have to do is quickly get this amount back up to $9,000 and then buy gold again. You can keep doing this until you think you have enough gold.
As you learn more and do more things, making money will become second nature to you. There will be chances all around you. Soon, you'll be running in at least twice a month to buy gold bars. People will think you have the Midas touch, but you can say, "No, it's not that at all. It's all because of alchemy and my dear old friend Charles Goodwin!"
Don't worry about the change in the spot price. Just keep your distance and think that you're just turning trash into gold, because that's what you're doing. If you're not sure about your math skills, divide all the numbers by 5 and buy one ounce of gold at a time at first. I can promise you that the trip will be both fun and interesting. You'll learn a lot on this trip, and one day it will all click, and you'll realise that the world is now your oyster. You can make as much money as you want to.
"Excuse me, Charles, but I have to ask the obvious question. You've shown me an easy way to get rich, but what do I do about taxes?'
"I am both a wealth guru and a mystic!" Would I leave you in the lurch without a tax plan that was just as easy and just as good? No, I wouldn't do that. But at some point, you will have to beg, borrow, or steal a copy of The Secret Of Wealth Creation Revealed (or, dare I say, even buy a copy!) and then everything will be clear.
