Nik Rajkovic / news@whmi.com

Gold futures settled at the highest level ever Monday, as traders bet the Federal Reserve will start cutting interest rates in the second half of the year.

Despite what some commercials are pitching, WHMI retirement advisor Brad Jones cautions against putting all your eggs in one basket.

"I think some of it is that we hear a lot of it, or we see people trying to get you to buy the thing, so therefor we think it is the thing. But it's really the salesmen doing a really good job," he says.

Even with gold at $2,100 an ounce, Jones advises against selling grandma's old necklace to make ends meet, adding that cutting back on spending is a better way to ride out tough economic times.

"We've had some high inflation, but the good thing is we also have higher interest rates. So, if you have a little bit of money that you have in bank accounts and things like that, you hopefully are making interest," says Jones.

"There are avenues where now you're back to earning 2, 3, 4, 5 percent or greater on money that really is just in liquid accounts."

You can listen to Jones' "Climb through Retirement" show Saturday mornings at 7:30am on WHMI, or the podcast at the link below.