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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4545
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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Hi there. I am currently receiving sickness benefit, I currently

Resolved Question:

Hi there. I am currently receiving sickness benefit, I currently have 6 thousand pounds in savings. My dad passed away and I will be receiving around £10,000, can I legally buy £6,000 worth of gold with the savings I have? I will have to pay a substantial amount of rent on my council flat and maybe my benefit will also be reduced meaning the money I have will not last very long. I was planning on saving the £6,000 that I have, in the form of gold as I may need help with my illness privately as the nhs does not seem to be helping me.
Submitted: 3 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 3 years ago.

Dear Friend,

 

Hello and welcome. Thank you for providing an opportunity to assist you. I am extremely sorry to hear about your loss.

 

You can safely go ahead and invest in gold. This is one of the safest form of investment that would suit you. It will Aldo suit your very low risk profile.

 

I wish you good luck.

 

I am sure this would help.

 

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

 

 

Customer: replied 3 years ago.

Hi there. I meant is it legal for me to use my £6,000 savings on buying gold as I know I am getting the £10,000 inheritance and I am on benefit. Thank you.

Customer: replied 3 years ago.
Relist: Inaccurate answer.
The answer was not what I asked. I asked if it was leagal, not is investing in gold a wise investment?
Customer: replied 3 years ago.

Hi. I meant is it legal for me to spend my £6,000 saving on gold as I know I am going to get a £10,000 inheritance and this would dramatically effect my benefits, so I would like to buy gold so my declared funds would be £10,000 not £16,000. Is this legal? Thank you.

Expert:  Rakhi Vasavada replied 3 years ago.
Dear XXXXX,

I apologise for the goof up.

Yes, it would be perfectly fine to purchase gold. From whati understand from your question, in my opinion, this should be done on date before the receipt of your inheritance.

See if this helps. Or else, let me know and I shall opt out of this.

Warm Regards
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