Is Investing in Silver a Good Idea?

Summary

Ramsey Everyday Millionaires
Episode: Is Investing in Silver a Good Idea?
Date: December 31, 2025
Hosts: Dave Ramsey, Ramsey Network Contributors

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Episode Overview

In this episode, Dave Ramsey and a co-host from the Ramsey Network respond to a listener’s question about whether investing in silver is a good idea. The hosts break down the risks and characteristics of investing in precious metals like silver and gold, contrasting these choices with their recommended approach of sticking to proven, long-term investments such as mutual funds and the stock market. Drawing on both philosophical perspectives and practical examples, they reinforce why “boring” investing strategies build real wealth.

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Key Discussion Points & Insights

1. Caller’s Question: Is Silver a Good Investment?

• [00:22] Caller David from Indiana shares that he has friends who saw “pretty big returns” investing in silver and asks for advice.
  • He wonders if getting into silver is a smart move, given recent price increases.

2. Understanding Precious Metals as Investment

• [00:36] The financial expert explains metals like silver and gold are “so dependent upon the fear of what’s going on in the current moment.”
  • Precious metals spike in times of fear and uncertainty but fall when things stabilize.
  • Quote: “You can really see a correlation with the amount of fear that the American people have in life. And if there’s a lot going on and something scary is happening, all of those prices go up.” (Financial Expert, 00:45)
• Investing in commodities is contrasted with traditional market-based investing, which is described as more reliable and consistent over time.

3. Precious Metals & Apocalyptic Thinking

• [01:11] Some people buy metals as a hedge against an economic collapse or the “end of the world.”
  • Hosts are skeptical: “If literally the US dollar did just completely crash, like if we had no currency but gold and silver, that's not even going to be something that's worth it. Because at that point... I need food and shelter. Right. So at that point...”
  • “It’s going to be ammo and clean water... That’s not even... Everyone’s like, I don’t need that, I need food and shelter.” (Financial Expert, 01:48)

4. Personal Practice and Philosophical Perspective

• [02:14] Dave Ramsey emphasizes he doesn’t invest in precious metals: “The wealthiest guy I know personally that I hang out with is Dave Ramsey, and he owns $0 of silver or gold commodities. ... I don't put my personal money for me and my family into that stuff.”
• Personal wealth is tied to proven wealth-building tools, not speculative or fear-driven investments.

5. Silver as Speculation vs. Proven Investment

• [03:04] The hosts acknowledge that it’s possible to buy silver low and sell high, but compare it to gambling:
  • “You can scratch a lottery ticket, dude. Everybody does and they win and somebody wins every day.” (Dave Ramsey, 03:08)
• Well-marketed commodities (like gold/silver, reverse mortgages) are often aimed at vulnerable groups.
  • Quote: “If they have commercials on cable TV, it’s always reverse mortgages, buying gold and silver and walk-in bathtubs... They’re praying on [these] people.” (Financial Expert & Dave Ramsey, 03:12–03:27)

6. Risk and Returns in the Market

• [03:42] Caller refers to Dave’s teachings about higher risk correlating with higher potential returns.
  • Dave clarifies: Higher returns often mean more of a “lottery shoot” rather than a stable plan.
  • “It becomes more of a, of a lottery shoot. Right?” (Dave Ramsey, 03:52)

7. Success with “Boring” Investments

• [04:00] The financial expert points out the prior year’s high returns in the stock market came from stable, diversified funds, not risky commodities.
  • “Last year was crazy. Crazy returns. And that was very safe. All in index funds or mutual funds. Nothing wild.”
• Dave reinforces discipline: “Keep being boring, dude. Just keep being boring. Because that same friend is going to come back next month and be like, I just lost all my pants on silver.” (04:30)

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Memorable Moments & Quotes

• On commodity markets and fear:
  “You can really see a correlation with the amount of fear that the American people have in life. And if there’s a lot going on and something scary is happening, all of those prices go up.”
  — Financial Expert, 00:45

• On prepping for collapse:
  “It’s going to be ammo and clean water... That’s not even... Everyone’s like, I don’t need that, I need food and shelter.”
  — Financial Expert, 01:48

• On silver/gold commercials:
  “If they have commercials on cable TV, it’s always reverse mortgages, buying gold and silver and walk-in bathtubs... They’re praying on [these] people.”
  — Financial Expert & Dave Ramsey, 03:12–03:27

• On winning with boring investments:
  “Keep being boring, dude. Just keep being boring. Because that same friend is going to come back next month and be like, I just lost all my pants on silver.”
  — Dave Ramsey, 04:30

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Timestamps for Key Segments

• 00:22 — Caller asks about investing in silver
• 00:36–01:48 — Explanation of how precious metals are driven by fear and speculation, not fundamentals
• 02:14–02:41 — Dave Ramsey’s personal stance on commodities
• 03:04–03:27 — Hosts compare buying silver to lottery tickets and highlight predatory marketing
• 04:00–04:30 — Safe, “boring” stock market strategies vs. volatile metals
• 04:30 — Dave Ramsey reiterates disciplined, steady investing

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Episode Takeaways

• Precious metals like silver and gold are highly speculative, their prices are driven largely by fear and uncertainty rather than fundamental growth.
• The hosts recommend sticking with historically reliable investments (stock market, mutual funds, index funds) for building long-term wealth.
• Investing based on fear or apocalyptic scenarios is discouraged; practical needs will outweigh precious metals in true crises.
• Marketing for metals and similar “alternative” assets often targets vulnerable groups and should be viewed with skepticism.
• The ultimate advice: “Keep being boring” with your investments for real, sustained financial growth.

Transcript

[Dave Ramsey]

Foreign.

[Podcast Host/Announcer]

This episode is brought to you by SmartVestor. Connect with an investing pro near you at RamseySolutions.com SmartVestor all right, let's go.

[Dave Ramsey]

Out to Indiana and talk to David. What's up, David? How we doing, brother?

[Caller David]

Doing good. How you all doing?

[Dave Ramsey]

Doing great. What's going on, man?

[Caller David]

Not too much. I just had a question about buying silver. We had some friends that did that and they got pretty big returns on that. And we didn't know if that was a good decision or not.

[Financial Expert/Advisor]

No, not a great one. Just because David, usually commodities like that, gold, silver, all of it is so dependent upon, honestly, the fear of what's going on in the current moment. So if something bad's happening around the world, usually that stuff spikes. And then if everything's good and everything's fine, it dips. And so you can really see a correlation with the amount of fear that the American people have in life. And if there's a lot going on and something scary is happening, all of those prices go up. And so overall, your investment strategy should just be in the market. It sounds more boring and all of it. And people also will take on precious metals and stuff for not just an investment purpose, but they do it for like an end of the world apocalyptic plan to think that if something were to happen to the US dollar, like that they have a bunch of gold and stuff. And listen, I love conspiracy theory. I could go down that rabbit hole really fast. But the truth is, if everything, if literally the US dollar did just completely crash, like if we had no currency but gold and silver, that's not even going to be something that's worth it. Because at that point, I still have.

[Dave Ramsey]

To trade that for coffee.

[Financial Expert/Advisor]

The way the world. Yeah. I mean, it's going to be ammo and clean water. Like, right. Like, I'm like, it's that. That's not even a little bag of gold. Everyone's like, I don't need that. I need food and shelter. Right. So at that point, so just overall, yeah, just an investment strategy that's just more proven over time has a longer track record of a consistent, you know, an idea of like a consistent return that you can see it is it's still in the market.

[Dave Ramsey]

And here, like the existentially or philosophically, like, you've got that answer. Right. But I would tell you, like, on the ground, the wealthiest guy I know personally that I hang out with is Dave Ramsey, and he owns $0 of silver or gold commodities. Okay, that's for me, in my house, we Owe zero dollars of silver and gold. So I don't put my personal money for me and my family into that stuff.

[Caller David]

Okay. That, that was kind of my. What I was thinking. But I just kind of wanted to make sure. I know we did the total money makeover and you know, we have our money and you know, on a 401k and CDs.

[Financial Expert/Advisor]

Yeah.

[Caller David]

I've been retired for five years. But we just heard something, you know, someone was, you know, bought quite a bit of it and the price of silver went up. But that was. I was kind of leaning toward, you know, what you all just said. But I just.

[Financial Expert/Advisor]

Yes. Yeah. And you know, and they could have, you know, they could have sold when it was high.

[Dave Ramsey]

You can scratch a lottery ticket, dude. Everybody does and they win and somebody wins every day.

[Financial Expert/Advisor]

But also, I always think about this. Someone said this years ago and I was like, that is so true. They're like, if they have commercials on cable tv, it's always reverse mortgages. Buying gold and silver and walk in bathtubs like, like that's the, that's the.

[Dave Ramsey]

There's a market they are praying on.

[Financial Expert/Advisor]

I mean, genuinely. So you're like, okay, if they're going after a group of people, you know, for these things, like reverse all of it. I'm like, probably not the product that I want to put my, my money into.

[Caller David]

Yeah, well, I know I've, you know, heard Dave say that the more, the higher interest get on. On investment, the riskier it is. Well.

[Dave Ramsey]

And not necessarily, but it's, it's. It becomes more of a, of a lottery shoot. Right?

[Caller David]

Yeah. Yeah.

[Financial Expert/Advisor]

And I mean, I would say you look at the stock market last year, David, if you guys looked at your 401k, it was like 24. I mean, it was. Last year was crazy. Crazy returns. And that was very safe. All in, you know, index funds or mutual funds. Nothing, Nothing wild. So. So sure, the economy can go up and down. Absolutely. But it's not as volatile as commodities or precious metals, like what you're saying. So, yeah, from an investment strategy, we would, we'd say now you're better off doing. Yep. Having your money. Exactly.

[Dave Ramsey]

Keep being boring, dude. Just keep being boring. Because that same friend is going to come back next month and be like, I just lost all my pants on silver. You'd be like, oh, well, there you go. Just goes up and down, up and down.

[Podcast Host/Announcer]

Thanks for tuning in to Ramsey. Everyday millionaires, need help with your investments? Connect with a smartvestor [e-mail]. smartvestor or click the link in the show Notes Ramsey Solutions is a paid non client promoter of participating pros. Learn more at ramseysolutions. Com smartvestor.