The Moneyist: My 8-year-old son was given $35,000 in gold bars. Do we hold onto them — or sell and invest the money?

by | Oct 4, 2023 | Stock Market

Dear Quentin, I did not grow up with wealth and I am only now, in my 40s, beginning to understand how to invest and save for retirement for myself.  However, with everything I’ve learned, I’m trying to ensure my child will be in a better position, and have knowledge and opportunities that I did not have. 

For several years, he has one section of his piggy bank for both saving and investing, and one for spending. At least once a year we count that up and it goes into high-yield savings and a custodial investment account (primarily in ETFs).  Here is my dilemma: he was gifted gold by a generous friend of the family. These bars are safely stored, but cannot be insured. Today, the gold is worth just over $35,000. I am not sure whether we keep this gold or if we should get the cash value and invest it.  He is only eight, so there’s a lot of time for compounding. I realize there’s no crystal ball, but I assume there may be a general consensus in the investment community on liquidity/investments versus physical gold. What is the best way to utilize this gift for his future? The Mother 

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