2 minutes
Editorial Invest in Slovakia
Lýdia Sovová is professionally engaged in the sale of investment gold. She offers one-off purchases as well as savings programs in gold to customers of her company Royal Golden Group. She also focuses on raising financial literacy and awareness in the areas of business, economics and networking.
What is her professional story?
In 1992 she opened a textile shop, but just 4 years later she went into the financial market. She was interested in ways to build up a financial reserve. In 2010 she started trading in gold. She worked for a leading Austrian bank, where she learned how gold works, why people should have it in their portfolio and in 2016 opened the Royal Golden Group. She learned what building savings is, accident life insurance and educated herself in the financial field.
When is gold an investment and when is it a store of value?
Investment means that I have spare funds and I want to put them somewhere for the purpose of appreciation. Gold has been money with lasting purchasing power for at least 2500 years. Thus, gold has always been an investment according to her. Gold should be a part of a portfolio of about 10 - 15 %, i.e., put aside monthly from your income.
Until 1971, money operated on the gold standard. What is her view on this?
Paper money today is no longer backed by anything. A minimum of EUR 80 million is printed monthly in the EU. The euro will decline in value.
How do people reach you?
Simply. Through social networks. If you own a gold account, you'll push it further. We can register for an R.N., for a trade, for a marriage license.
What is the advantage of gold over other precious metals?
Gold ranks 1st in commodities. If it's in first place, why should I care about silver? If I don't have enough gold, I don't care about the rest. People look for security in gold.
What are the social indicators for buying gold?
I don't address the price of gold. I always buy. If I have spare money, I invest in gold. Gold cannot be printed, it cannot be destroyed, it does not need feeding, care. It is unique. We don't pay taxes on 24 carat gold, the bailiff won't touch it. As money, gold is liquid, portable, divisible private, You can convert gold into any paper currency.
What message would she give to people about financial literacy?
It allows one to understand what to do with the money we have been working for 40 years. What is certainty? In a lifetime we have only two certainties. We will always pay taxes and we are certain to die. But the latter has two BUTs - will I live short or long? If short, I need to provide for my family, if long, I need to provide for myself. We need money for that.
What books does he recommend?
The first book is clearly Golden Treasure by Markéta Šichtářová - these are fairy tales about money that parents could not have known. Another book is The Richest Man of Babylon, the third is Leader without title. Book Success is you will show how to communicate with people to look for the beautiful and the good in them. The last one is A svodoba called gold - that talks about the dollar being in debt since 2008. Gold will never go to zero. Those who have even an ounce of gold will jump start their family's economy.
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