When is the best time to invest? If you ask 20 different people, you’re likely to get 20 different answers. Some of those answers should be taken with a grain of salt, but persistence pays off in investing. If you keep asking questions, you’ll eventually find an answer that works for you.

The most dangerous advice usually comes in the form of tips. In other parts of our lives, these tips often turn out well. Restaurants and television shows recommended by friends are usually excellent choices. However, financial markets are exceedingly contrary. Investments that have done exceptionally well for others over the last year or two often go down as soon as you buy them.

Technical indicators at least seem more sophisticated. Moving averages, relative strength (RSI), and other technical indicators supposedly tell speculators the right time to buy based on price movements. While some of these indicators can reduce volatility, the short-term effects are unpredictable and they do nothing to increase long-term returns. On top of that following technical indicators always increases the number of transaction fees and frequently adds to your tax bill as well.

Better investors are more likely to point you toward fundamental indicators that reflect the actual business environment. The price-earnings (P/E) ratio for stocks and the interest rates on bonds are good examples of fundamental indicators. There is something to be learned here, and it does make sense to adjust your portfolio based on market fundamentals. For example, 10-year treasuries have an interest rate of less than three percent today. You cannot expect to get returns of six or seven percent a year in this bond market. The P/E ratio for the S&P 500 is currently about 24, so stocks are also expensive by historical standards. Given these miserable market conditions, what is left for investors?

It still makes sense to invest in balanced allocations that include some stocks, some bonds, and some precious metals. By including at least a little bit of everything, balanced allocations avoid the worst losses while still generating respectable returns. The great value of gold and silver in a portfolio is that they often go up when stocks and bonds are down. The end result is more consistent returns.

The best time to invest is now. Many potential investors are under the illusion that keeping money in a checking account is somehow safer than investing it elsewhere. Nothing could be further from the truth in the long run. When you stay in the money market, you deliberately chose to lose to inflation. There’s no reason to wait. You can get the magic of compound returns to work for you at any time with a balanced allocation that includes precious metals.