Gold Individual Retirement Accounts (or gold IRAs as they are colloquially called) are financial funds backed by tangible bouillon intended for use post-employment. These differ from traditional retirement plans in that those have no tangible backing and are closely tied to the active and undependable stock market.
In these uncertain times, people are clamoring for stable ways to save their money and grow it over time. Banks are becoming less reliable by the day, what with government payouts, and are socially less trustable by the minute. People yearn for the old days of real, physical wealth that cannot be taken from them.
It shouldn’t come as a surprise to anyone that gold is a hot commodity right now. Gold and other precious metals have always been of value and worth to humans, so it’s only natural that we return to these ways when capitalism seems to be in imminent danger.
However, before you take the deep dive into the world of individual retirement accounts, there are a few things you should know…
They are reliable and dependable.
Unlike the stock market which has been notoriously unkind to the American public over the past hundred years or so (ever since it’s institution), gold barely ever fluctuates in worth. In fact, precious metals and bouillon are nearly entirely inflation-proof. The more options available from a broker, the more likely they are to retain clients who wish to diversify their growing portfolios.
There are companies that use silver, platinum, and even diamonds. There are even companies that facilitate the transfer of intangible funds (funds you can’t physically hold) to physical gold: https://www.readingeagle.com/2022/06/07/best-gold-ira-companies-for-ira-transfers-to-physical-gold-in-2022/. If there’s a market for it, there’s a good chance a gold IRA company has a plan for it.
New corporations are starting every day that help assist regular people like you and me to purchase things like gold for retirement purposes. This becomes an interesting market because there are lots of variables involved in purchasing and facilitating tangible monies in the American economy.
2. They are growing in popularity.
Savings accounts and traditional retirement plans used to be all the rage. However, now that the government has decided to never task the ultra-rich, we regular people down here on the ground are all worried about holding onto our money. Culturally, there’s been a shift in conversations about how average people are deciding to invest in their futures.
Let’s say Ginny Parker, CEO of Parker Industries, and LLC is interested in moving her money from her 401(k) to a gold IRA. She does so, retires, and lives the highlife while posting constantly on social media, much to the chagrin of her less-comfortable friends and family, who continue to begrudgingly follow her despite having nothing in common outside of the job they used to share.
What are they most likely to do? Probably invest in precious metals, if you ask me. Why wouldn’t they? They see she’s got a cushy retirement; I’d tell the world if I were her.
This is not an economical aberration. Considering that gold as an investment has surged in popularity, skyrocketing from sixteen to thirty-nine percent, effectively doubling the amount of active investors in the marketplace. That’s quite an increase.
3. They are easy to get into and understand.
Unlike other funds from both private and public financial institutions, understanding bouillon is easier than one, two, and three. Gold has a certain worth in the precious metals market that barely fluctuates. After you’ve purchased what you want, that’s all you pretty much have to know.
Lots of people waste a lot of stress and emotional energy on following the stock market, changing their portfolios, and other menial things that take away from the life you live when the whole point of a retirement fund is that you sit on it until you need it, then when you need it then its there! It’s really that simple.
Like everything else, there is a learning curve. Thankfully, IRA companies deal with everyday American citizens on a daily basis, from a variety of professions and income or tax brackets. They are teams of well-trained accountants and bank managers who can walk you through each step of the process as if it’s your first time on planet Earth dealing with human money.
4. Gold reserves are dwindling!
As gold is rare in areas like outer space, the only supply we have of the yellow stuff is right here on earth. Besides that, it’s also in very short supply. Gold has been mined for centuries and has been nearly eradicated from the world in most areas. This makes it a relatively finite commodity.
Just like everything else with capitalism, supply-and-demand comes into play with bouillon. The less precious metals like silver, copper, and platinum that are circulating, the better it is for the very few people in the world that can actually afford it because the more it is worth, as it is then considered rare.
However, the above information is not at all comprehensive. If you want to learn more, click here to go to the official government website of the Commodity Futures Trading Commission where they list tactics used by scammers and warning signs that you are possibly dealing with a fraudulent company.
My final thoughts are this: do what your heart tells you, not your pocket. If you feel a precious metal IRA is right for you, you should go for it. In terms of cost of investment, it’s barely an issue, and in terms of stability and popularity, you really can’t beat having money that can’t disappear with the click of a mouse.
The fact is that precious metals are the longest, most trustworthy form of retirement account currently available to American consumers. The stock market is extremely undependable and fluctuates regularly, leaving you possibly in the dust when it comes time to finally retire.
Now it’s time to go out there and start your research. There are plenty of public resources available to you, so I recommend starting at your local library. Don’t get left in the dust, unless its gold dust that is!