The economy is facing tremendously uncertain times in the very near future. Americans are struggling with debt and retirement and the plethora of confusing options one must parce through without any foreknowledge on financial accounts, institutes, and programs that are going to affect the rest of their lives. So where are we to turn?
Precious metals are a relatively new investment opportunity for most Americans. According to www.wikipedia.org, gold has been a hot investment since the Taxpayer Relief Act passed the senate in 1997. This act broadened what could be invested into individual retirement accounts.
You may wonder if this kind of IRA, or if individual retirement accounts in general, are even right for you and your lifestyle. There’s a lot of misinformation out there, so thankfully there are an abundance of reliable sources to chew at. However, the following list are the reasons I’ve found to invest in gold.
- The Dollar is weaker than ever.
The US Dollar is the weakest it’s ever been when you compare it to other countries’ currencies in the world market, even the British pound! That’s pretty embarrassing, if you ask me.
Besides the social stigma on the international stage, when the dollar is weak then so is the stock market, a primarily US-driven mass financial game. When the stock market plunges, so does all the money in portfolios of the typical 401(k) variety.
Instead of playing games with their money, educated investors clamor for the stability that gold and other metals offer. The current world market is not the time or place to play around with the future of your investment or retirement portfolio. Don’t wait for the dollar to become nearly-obsolete.
- Precious metals are a consistent source of wealth.
Shiny rocks unearthed from the ground have been a coveted form of barter and currency since before the beginning of recorded history. Even though banks around the world have long since abandoned the use of bouillon, in recent years it has seen a resurgence in popularity due to its longevity.
- It’s been a rough year (Recession, Inflation, and COVID19)
The change in government powers came during one of the worst pandemics in world history. This came with a lot of economic damage that we’ll all be reeling from for years to come.
However, in the immediate aftermath we are dealing with quite a bit of inflation and are falling quite deeply into a recession. It’s been a rough year (two if we’re doing the math, but doesn’t it feel like one?). You should rest easier at night knowing that when you’re almost sixty, you can sit on your porch all day drinking lemonade, thinking about all those suckers that still have to show up to work.
- Rolling over to an IRA is as easy as 1-2-3
Many people are even making the move from their 401(k)s to a gold IRA and inflation is the leading cause. The “rollover”, as it’s called by Mercury News, says that protection from it, currency devaluations, and also diversifying portfolios are the main reasons people are rolling over.
Unlike other funds, you can count on the money being there when retirement comes when you purchase bullion as an investment.
- Diversification looks great on your permanent record.
This is the same record that’s been following you since primary school; kindergarten for some. You want it to sparkle, not bore. Diversification can take many forms as investment opportunities multiply with the growing bitcoin, dogecoin, and similar cryptocurrency.
However, like other traditional banks, cryptocurrency isn’t backed by tangible goods, rendering it obsolete in the event of solar flares wiping out computer systems.
- All the cool kids are doing it.
Now when I say “cool kids”, I mean those cool cats on Wall Street making the big bucks while people like us are sweating our lives away, pouring our money into the stock market like a bunch of cogs in the capitalist machine, in hopes that when it’s time to retire, my investments have paid off.
- World debt is on the rise.
The United States will soon be joining the rest of the world in economic collapse. You can see it starting in places like India and China. It’s not really a question of when, but more so how bad is it going to be? According to this website, the United States has the deepest national debt problems by far.
Diversifying personal portfolios with a gold IRA is becoming more popular for smart investors in cities like New York and Chicago due to gold and silver have an amazing history of good-standing within the money market.
- Dreaded Taxes
Individual retirement funds are a common refuge for those that can’t stand giving their money to the government. IRAs will give you your money when you are ready to receive it completely tax-free, as long as you are over the age of fifty nine and a half years old.
- Gold is in demand (and always is!)
Though IRAs are typically gold-free, the demand for non-traditional retirement funds is growing, therefore all sorts of people are becoming steadily more interested in all different kinds of funds and accounts.
- There is less gold in the world every single day.
The harvesting of gold from deep within the bowels of the earth is a dying breed of activity. On top of that, people aren’t buying gold as much as they used to because the price is getting so high. However, what’s a burden to some is literal gold to others, as those that can afford precious metals right now have a good shot at a big turnaround.
When you really think about it, our economy is in a downward spiral. Gold, silver, and other precious metals could very well be some of the only things worth value after an economic disaster, akin to another market crash.
If you really want to ensure your retirement will be set, make sure you start now by investing in gold as opposed to classic retirement funds. With a diversified portfolio of investments, you’ll be fit for the remainder of your life.