If you spend more than 1 hour a day looking at and being concerned with your retirement portfolio then consider diversifying your retirement dollars to hedge inflation.
It’s hard to understand what will happen in the next few years with our retirement account. I see one day the market loses 1,200 points and the next day it gains 500 points. What’s going on in the market is the uncertainty of where the United States Economy is going and whether we will be in a recession in the next year.
Nobody can foresee the future. An analyst can only predict, which is a fancy way to say “guess”, what the markets or a particular company will do shortly.
I’m concerned about my IRA and where that will be in 10 years when I retire.
I’m in conservation mode. Meaning – I don’t want to lose what I’ve gained over the past 10 years. To do so I have modified my investment strategy and taken some money out of the market and decided my hedge would be physical metals like gold and silver coins and bars. I have chosen Gold Coins as my investment choice. I have Canadian Minted Coins and US Minted Coins. These coins are valued based on the spot+. The plus part is typically the profit to the seller. In my case, I looked to Noble Gold to give me the education and the resources to make informed decisions.
Diversifying my portfolio with a gold IRA was a good decision for me. Having the right information was most important and companies with good reputations and resources help.
What is a Gold IRA?
A gold or silver IRA is a self-directed IRA in which I can purchase my investment within. As an IRA I get all the same tax advantages as a traditional IRA. Gold IRA companies make the setup simple and the rollover from my prior employer’s 401(k) was simple.
The process involved:
- setting up the IRA
- funding the IRA
- buying the metals
- having the metals shipped to my depository
- watching the statements
The process to open and fund the IRA was simple and Noble Gold also shipped the gold to my Brinks depository and insured the transport.
Choosing the Right Gold and Silver To Purchase
Not having any initial understanding of the gold and silver markets, I looked to education first to make my decisions. I determined right from the beginning that I was not going to invest in rare coins and numismatics. Since I wanted to open a gold IRA, these types of coins would not be acceptable for the IRA, plus I wasn’t ready to be a speculator and rare coin buyer.
So the choices were easy for me. Minted Coins from US Mint, Canadian Mint, and a few others were acceptable for the IRS. The next decision was Proof Coins or Bullion Coins. The Proof coins are minted differently and hold a more refined look. The process makes these coins more expensive to purchase, but I wasn’t too sure how much more valuable. Therefore I chose bullion coins. There are more of these minted every year and they are easier to come across. Therefore, retailers or gold dealers typically have more available for sale.
The bullion prices are based on the Spot price of gold. Giving me an easy understanding of how to value my coins and what they would be worth if I decided to sell.
Having coins that are highly sought after and easily bought and sold made my decision for me.
There are several choices available for one to purchase within their Gold IRA and the team at Noble Gold helped me out every step of the way.
Making a decision is the first step. My choice was easy when I couldn’t lose my retirement account in the market. I know there is a possibility I could make higher returns in the market, but I also need to sleep at night. Knowing I have a large percentage of my retirement funds secured as physical gold makes me comfortable.
I’m running with the expectation that gold will appreciate over the next 25+ years. Thinking that way I plan to use the money in my stocks and mutual funds first when I retire and hold the gold and silver for later.
We all have to be ready for our retirement, my choice may not be the right one for you. But consider precious metals as an option and talk to the best dealer that works primarily in gold or silver IRAs. These companies have your long-term goals in mind.