Should You Invest in a Gold IRA?
Here’s what you need to know about Gold IRA’s.
What is a Gold IRA?
A Gold IRA is an Individual Retirement Account wherein gold is stored, as opposed to paper currency or paper assets.
Paper assets are not as stable as having a precious metal asset in your portfolio. If you browse online and read through the daily stock market trade, paper assets sway with what’s happening in the world economy. So technically, sometimes they go up, sometimes they go down. This is not the same with gold or precious metals investment – they gave been increasing steadily.
A Gold IRA is a viable and profitable venture that only requires very simple arithmetic calculations to see the potential it contains and how it can grow over time. This will make a great portion of a retirement plan since it does not rely on the overall performance of any other assets.
Aside from this, well, paper is just paper. It has no intrinsic value and should be valued to gold equivalent of gold held at the country’s reserve, however it is valued through the confidence of the financial market.
With precious metals, it can come in different forms such as bouillons, coins and bars so take your pick! Choose what best suits your portfolio but ask your financial advisor first.
Precious metals have withstood the test of time and have been doing well even in the midst of inflation in the stock market. It has been used for ages, from the time of ancient Egypt up to date as a monetary system. This cannot be said for paper assets. Inflation can cause stock market figures to crash whereas inflation has only caused the value of gold to increase in amount.
Now that you know the benefits of having a gold IRA in your portfolio, it is best to make a comparison of the firms and pick out a convenient and reliable one. You should be armed to the teeth with information from company representatives to be able to make informed decisions on your gold IRA investment with the tips and advice provided.
James is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.