Back in my LA finance days, I managed billion-dollar bond funds with Jeffrey Gundlach, aka the “Bond King.” But today, we’re switching gears from complex portfolios to something a little shinier—gold.Collin Plume isn’t here to sell you coins—he’s here to talk about what really matters: how to build financial security, make retirement stress-free, and raise kids who actually understand money. If you’ve ever wondered whether gold is more than just a doomsday hedge, Collin has some golden insights for you.Part 2 of our two-part series on money, metals, and making smart financial moves.Key Highlights of Our Interview:Gold, Real Estate, and Learning New Tricks: Why Diversifying is the New Smart“Be willing to learn about a new investment or a new strategy every year, whether you decide to do it or not. But I think being willing to learn about it is important. It will help you and it’ll keep you sharp.”Beware of Finfluencer Hype: Not Everything That Shines Is Gold“Too often, people take influencers at face value, believing that the most engaging video equals the best advice. In reality, it’s important to fact-check and do your own research because many influencers are just paid promoters, not experts.”Do Your Research: Don’t Let Algorithms Make Your Financial Decisions“Algorithms don’t care if the advice is good; they only care if the content is appealing. So when it comes to financial decisions, it’s on you to dig deeper, check multiple sources, and make sure the influencers you follow are legit.”The Real Cost of Reckless Spending: Teaching Financial Discipline to the Next Generation“As a family, we prioritize experiences like travel and education over material goods. I’ve shown my children the gold and silver I’ve set aside for them and explained how these assets will be worth something significant in the future. Whether they want to start a business or pay for college, these investments will be there for them."“I make sure my kids know that money isn’t something to be taken lightly. Whether it’s explaining mortgages to my 8-year-old or discussing the importance of not being wasteful with their toys, they need to understand that everything has a cost. I often use examples like Disneyland—where you can easily spend thousands in just a few days."______________________Connect with us:Host: Vince Chan | Guest: Collin Plume______________________--**Chief Change Officer**--Change Ambitiously. Outgrow Yourself.Open a World of Deep Human Intelligence for Growth Progressives, Visionary Underdogs,Transformation Gurus & Bold Hearts.6 Million+ All-Time Downloads.Reaching 80+ Countries Daily.Global Top 3% Podcast.Top 10 US Business.Top 1 US Careers.100,000+ subscribers are outgrowing. Act Today. --Chief Change Officer--Change Ambitiously. Outgrow Yourself.Open a World of Expansive Human Intelligencefor Transformation Gurus, Black Sheep,Unsung Visionaries & Bold Hearts.12 Million+ All-Time Downloads.Reaching 80+ Countries Daily.Global Top 3% Podcast.Top 10 US Business.Top 1 US Careers.>>>140,000+ are outgrowing. Act Today.<<<
Chapter 1: What is the focus of Part Two with Collin Plume?
Hi, everyone. Welcome to our show, Chief Change Officer. I'm Vince Chen, your ambitious human host. Our show is a modernist community for change progressives in organizational and human transformation from around the world.
I used to work in Los Angeles for TCW Asset Management, where I managed billion-dollar funds for institutions alongside the bond king, Jeffrey Gundlach, focusing on bond and credit portfolios. Today, I'm meeting someone else from LA, but with a different angle on investment. Precious metals like gold and silver.
Our guest, Colin Plume, is here to talk about something often overlooked and undervalued. But don't worry, this isn't a sales pitch on buying gold or silver. Colin and I will dive into more personal topics, family, parenting, retirement, and the sense of control over personal finance, as well as financial education for future generations.
So if you have kids, care about your financial future, are looking after elderly family members, or are simply concerned about financial and family planning in general, join us and get inspired by Colin's journey in building wealth from scratch. This is part two of our two-part series on Colin and his golden rules of people-focused finance. Let's get started.
So the desire for control often comes from a lack of trust and confidence in the system.
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Chapter 2: Why is gold a viable investment option today?
And I think when you look at The idea of the dollar itself, the return is so low in the bank also relative to what you can make out there. This year, gold is up 27%. The banks are paying 4% in the bank right now. They're only paying that 4% right now because they know that there's so many other investments out there that yields a much higher return.
And so with inflation being something that everybody is talking about, everyone's talking about the price of energy and the price of food and all of these things have gone up. They've skyrocketed over the last few years. People also are saying, I can't make 4% in the bank. And I think the returns of the banks in the US are going to continue to go down.
I would not be surprised if we see 3% savings returns by next year and even lower. So the other idea, too, is I just can't leave money in the bank because I need to keep up with my quality of life. And I think that's the thing about gold.
If you go back over time, if you go back the last 150 years, gold has been able to keep up with inflation and the cost of living in a way that most other items have not. And that is also the big idea with investing for retirement is you want that same quality of life in retirement that you have while you're working.
That's why you're working so hard is you wanna be able to have the things in retirement. And yes, you may have to downsize your living to afford to live as long as you may live. With that being said, the idea is you want items that are gonna keep up with the cost, the increasing costs of everything that's going up out there.
And so that's another reason why a lot of people, if they were hitting very heavy in cash, they've been looking at gold and silver as another way because they need to make better returns. And obviously nobody has a crystal ball of where things will go. But typically during heavy inflationary periods, gold has performed very well.
You can see the late 70s, early 80s is a perfect example when inflation was in the 14 to 16% range and gold was keeping up with that and outperforming those numbers.
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Chapter 3: How does diversification help in financial planning?
Yes, inflation, the common enemy we all face. But what other concerns should people be thinking about?
That's another reason that a lot of people are diversifying. And that's a big part of my philosophy, Vince, is keeping your options open in terms of investment and also being willing to learn about different investments. That's the thing that will really separate people today and for the next 20, 30 years is not being stuck on some of the old ideas.
If you look at the S&P 500, if you go back 20, 30, 40 years ago, many of those companies are no longer in business. So the idea that you should just stay into one stock or stay into one area in terms of investment forever is really not a smart strategy. The idea is being diversified in different investments so that you're protected.
And I'll tell you, a lot of my clients that I had when I was in commercial real estate Many of them bought gold and silver from me. And I had conversations with them over the last few years that said that they were so happy that they diversified out of real estate because real estate has been so difficult over the last few years. And I don't think it's gonna get
any better i still think real estate is going to have significant issues and so if you have all your funds and just real estate just rental properties just whatever it is in real estate and you go through a down period and we've been in a two and a half year down period in real estate then you could really jeopardize that comfortable retirement if you don't have other assets to pull from
And so that's a big part of my philosophy is I do own real estate. I do own lots of gold and silver. I do own some stocks. It's important to be diversified. And I've even diversified into buying additional businesses because I do want to be more diversified. And I think that owning good quality businesses and building them up is another way to have an income stream.
And so I do exactly what I tell people to do and I am diversified. And that makes me feel more comfortable is not having all my eggs in one basket. And I think that's the thing that I would say to people is the most important is be willing to learn about a new investment or a new strategy every year, whether you decide to do it or not is up to you. But I think being willing to learn about it
is important. It will help you and it'll keep you sharp. And I think the idea that you can just rely on a financial advisor or a stockbroker to make all the decisions for you is not a way for success. I think that they have a very specific job. They have certain items that they can put you into or sell you into.
And if you only rely on them, you could be missing out on some tremendous opportunities in other investments that are out there. And so the goal I think today, and this is the thing I tell people about gold and silver, the great thing about owning gold and silver is that you are in control of it. You're the boss. The downside to owning gold and silver is that you're the boss.
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Chapter 4: Is the concept of retirement evolving?
Yeah, I think being diversified in a retirement. I think your question is interesting in that retirement is changing in that people are working longer and I think it's great that they're working longer. I recently was on a work trip and I jumped into an Uber with my A gentleman who sold a business, was successful, but he felt like he was too young to retire. And so he was driving Uber.
The money was helpful, but not necessary. But he wanted to stay sharp. He wanted to have a purpose. And so I do think he was in his late seventies. And and I think that the idea of retirement is going to change for people because they can work from home. They can do different jobs. Father's a great example.
He's 80 years old and he still works for us part time because he likes he likes having a purpose. And I think that's the thing that people are learning about today is that maybe retiring too quickly is not the best thing.
And maybe having one of these gig jobs, a part-time job, there's so many, and I talk a lot about this on my podcast too, is there's so many gig jobs that people that are in their sixties and seventies and eighties could do. Writing, writing is a lost art. There's so many people looking for writers and people that can create scripts and content.
And I think that a lot of people are transitioning into these jobs and they're paying amazing. I've seen writing jobs paying $25, $30 an hour average. for good writing. And the list goes on and on. So I think retirement, the idea behind it is changing. And I think that people are realizing that they can continue to work in some capacity. And I think it's healthy to keep your mind sharp.
Also, having a little extra income is important. I think people don't know where the costs of things are going to go, and having another income stream in your later years can be really helpful. We at Noble Gold have hired a number of people that are older than 60, and it's been fantastic, not only for them, but for us, because they have so much life experience, so much
for us to learn from and we've really benefited from hiring people and typically when someone would retire. So that's been quite, quite interesting and a big shift for us. is being open to people at all ages and stages in their life.
And I think that we and our clients have really benefited because for my dad, for instance, a lot of the people that he's talking to are in a similar position to him. They're in their 50s, 60s, and 70s. And so he can really connect with them on what they're seeing day to day and what they're feeling about their retirement and how comfortable they are. So I think the idea of retirement is shifting.
I think more people are working longer, but I think it's actually in a lot of ways, it's healthier that they have some purpose.
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Chapter 5: How can financial influencers affect your investment decisions?
And there was really nothing behind it. And a lot of people took their word at face value. The big thing about when you're getting into investing or you're doing any kind of money, you gotta spend some time and do research and check different sources. The problem today is that people will, if they like an influencer the way that they talk, they'll take their word for it.
And unfortunately, the algorithms of these social media, it's not based on who's giving you the best information or someone that's the most credible information. it could be either that they paid to get in front of you, number one, or two, they could have just presented the video in a way that is the most appealing to people.
And so the problem is that people, and they've done studies about this, and they've done it on Google too, is that people think the things that pop up on social media or on Google searches, they think that those are the authorities. And actually, it's just based on the algorithm of that social media platform.
So you may watch a video about Bitcoin from a person that just made the most appealing video and maybe isn't the most knowledgeable on the subject. So it's like what we used to do when we used to do research is that you want to check multiple sources. getting information from one place and then trying to back check it in multiple other places.
If people did that, I think they'd be in a much better place. But unfortunately, people do see these influencers and they take it on face value. When we advertise with influencers, we really tell people to do their research on us and do the research on precious metals too.
And that's why we send them so much education because ultimately I want people to make an educated decision before they buy from us. It's important that they do that because it's a long-term relationship. I know that if someone acquires Specialist Metals from us, they may be our client for the next 10 or 15 or 20 years.
So I want them to know that they made an educated decision, that they did their research. So it's important that people take that extra step and they take that time and they do the research on the company that we tell people, check out our reviews. go to the BBB, go to Google, check us out.
These are all things that you need to do before you make a financial decision and not just take that influencer's sort of word for it because they could just be paid for an ad. And I've talked to influencers about promoting us, and I've asked them if they're interested in precious metals, and they've said no. And I've said, I don't want to do business with them.
I only want to work with influencers that are interested in what we do, because otherwise it's just... They're just getting paid to say it and it doesn't make sense and it doesn't ring true. So it's important even for us to work with influencers that really believe and have done their research so that if they do an ad for us, that it's credible, that it's actually something that they believe in.
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