Buying property is definitely something to consider.
But just because prices have been going up for a long time doesn't mean they will always go up.
Lots of countries have experienced what's called a "real estate bubble" that eventually pops.
That's true. How about gold then?
My brother-in-law says we should just buy a couple of gold bricks and store them in a vault somewhere.
Every time the economy begins to sour, people turn to gold.
The price of gold then goes up because people see it as a safe haven.
But there are two problems with gold.
One, there's no guarantee that prices will stay high.
And two, while it might be safe, it's not really earning you anything in the same way that a smart investment could.
That makes sense. You know, the more I think about this, the more complicated it becomes.
One of the safer bets might be government bonds.
You give the government your money for say twenty years, and at the end of that period, they return it with a relatively high rate of interest.
That's kind of appealing because it means you can't touch the money during that period of time and it removes any temptation to go and buy a new car, for example.
Yeah, the money just sits there safely until you're ready to retire.
Many banks offer similar long-term investment deals that also pay pretty good interest rates.
Thanks a lot, Bob.
I'm going to look into government bonds, and I'm going to have a conversation with my bank's investment department.
I'd say that's probably the smartest way to go. Good luck.