Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback.
BEFORE YOU READ:
They are pretty much a tie, but Goldco has a lower investment minimum.
Now Let's Move On to the 7k Metals Review
You may have heard about 7K Metals if you enjoy investing in precious metals.
In this review, I will discuss 7K Metals and everything it has to offer.
If anything, you may be contemplating distributorship and plan to continue on the same investment path for a while.
Another reason could be that you want to be fully informed concerning the entire business.
As far as making money is concerned, having it represent an MLM marketing platform is also possible.
This is what 7K also does when an investor wants to build their wealth through precious metal investing.
7K Metals was born under its founders Josh Anderson, Zach Davis, Roger Ball, and Richard Hansen.
Al has an extreme amount of experience in precious metals and entrepreneurship.
The process consists of buying and selling precious metals at an identical price.
It's hard to understand how money is made with this process.
Headquartered in Idaho, 7K Metals has a current BBB rating of A+.
Goods & Services Offered By 7K Metals
With a storefront on their website, 7K Metals market their precious metals for purchase. Items such as bullions, rounds, bars, and coins are just some of what is available.
Having the ability to make a purchase is made simple through 7K Metals.
To purchase precious metals, it is necessary to obtain associate status.
To become associated it is necessary to be referred by an existing associate.
After obtaining your associated status you will notice that the price of the metals is not as cheap as it might be thought.
As far as having an expensive item is concerned, owning a 1 Kilo gold bar from the Royal Canadian Mint will set you back over $45,000.
When it comes to MLM, your commissions are improved when the amount you buy increases.
$50,000 Minimum Investment
Free portfolio reviews for all clients
Although 7k Metals is a precious metals IRA company, to invest you need to be referred and made into an associate.
Once you have found an individual to refer, you can then make a yearly investment of $250, which will need an upfront fee of $75.
This may seem like more than you are comfortable paying, but when the possibility of prices rising, the future profits may look more attractive now.
If you plan to make money, then mimicking those who referred you will be necessary.
By having others join you will make money through a system that is binary and requires an individual on each side of the team.
Once the individuals are in place, you will then gain access to making money like you do with other companies including Lear Capital.
When new referrals join your team or a qualified purchase is made, you are rewarded with points.
As soon as each side of the team has 500 points, you get paid.
Because this type of design is used by many MLM companies, it is important to understand that for money to be made, you must have many team members and continue to have as many as you can, which is not always easy.
Pros & Cons
Deciding to Invest
Many people try to claim that marketing through a network is easy.
However, that is not easy to believe if you have several hundred individuals and none of them decide to make a purchase.
When this happens, it can become very depressing and would not make sense to stick around to see if things improve.
The failure rate of an MLM business is high and anyone who tells you differently is just pulling your leg. In fact, there are only a handful of people who can honestly say they have made a profit, but that number is under 1%.
Some have even described the system as being a way to never be able to earn anything.
This is a good way to turn people off who were trying to make a profit, but find it more difficult than they were led on to believe.
It is important to understand the system as well as how profits are truly made by an MLM.
The reality is in the amount of overhead the company has and with 7K Metals, it is very low.
Plus, no advertising is needed, which is why as an associate you are paid a certain amount through your marketing and referrals.
When it comes down to it, you can expect to be the one doing all of the work yourself for the company.
Additionally, you are expected to keep up with the minimum purchase amount so that you do not lose an associate.
General FAQs Regarding Investments
Yes, when you have thousands of clients, you can trust that risk will be reduced no matter what type of issues arise.
There are many ideas surrounding the meaning of risk. With that, a personal analysis must be made so the investment you make will be a nice complement to the potential risk. You can then be able to review these side by side continuously in order to know whether the investment remains to be a good one for you.
Many investments provide a guarantee designed to help put investors' minds at ease. These guarantees can also be beneficial to investors who prefer to be cautious. The downside is that there will be more cost involved.
Gold Investing Facts
Gold is a highly functional metal that is used in many industries and applications such as electronics and health care settings.
Although most may relate it to jewelry or as a liquid asset.
For gold's value to be determined, it must be monitored on a 24-hour basis and every day of the week.
This close following will also recognize any trends that could also affect its value.
7K Metals Review Conclusion
It is safe to say that the 7K Metals MLM is not a great way to make money or to invest your money
If recruiting and referring are your strong points, then you will do fine.
With that, 7K Metals is kind of "sketchy" like many have been led to believe.
When a pyramid scheme is conducted, an individual will always end up not having anything.
With 7K, a product and investment is questionable.