Strategy for next 5 years: Sell Real-Estate and Buy Gold

[Chuck K]

This is the advice I got from a relative six years ago when real estate looked like it would never stop going up, gold was like $500 back then. He had liquidated most of his real-estate holdings (he owned several homes and apartment buildings) and sunk it all into gold. We thought he was nuts back then.

I saw him again few weeks ago before the market downturn and he said gold is going to $5000 and real estate has several years before it bottoms. He advised me to sell any real estate and put it into gold, does it still make sense when gold is at all time highs? I was looking into buy and hold and getting into the residential rental space, now I'm questioning if it's the right time?

[Jason S.]