Can you teach me about this, like with a link or something? I have known wealthy people who for generations kept a portfolio like 60% equities, 35% cash and very liquid things like bonds, ~3-5% gold, usually in the form of equities that track gold.

I am not saying that is good.. I don't know. Tell me why it is bad. Thank you.

Well, for one, I might be wrong: https://ideas.repec.org/a/spr/empeco/v60y2021i3d10.1007_s001...

However, I don’t get how holding gold – which doesn’t generate dividends and therefore cannot benefit from compound interest – could be a good long term invest, compared to, say, an accumulating ETF.

No financial advice.