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A reader asks,
I need to purchase gold ornaments for a family event that’s about twelve to fifteen months away. What’s the best way to go about saving for this goal? I can set aside a certain amount each month from my salary.
The question had me stumped since I’ve never saved/invested specifically with the goal of buying gold ornaments. I have heard of gold purchase plans (such as this) offered by leading jewelers but I’m not sure how good or how safe they are. But the scheme does look good on paper.
Posing this question to you. What would you suggest?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.