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10:54 am Wed. June 7, 2023 (USMT)
What you need to know before you launch your gold and silver IRA Hedging economic uncertainty in your retirement plan
Setting up a precious metals IRA need not be difficult, expensive, or time-consuming. We are happy to assist you in filling out your account set-up forms. This can be done online over the phone quickly and easily. Your call is welcome. We invite you to put our forty-plus years’ experience in the gold business to work for you.
A. The rationale for gold ownership within a retirement plan is the same as it is outside the plan. This quote from a recent Vanity Fair article by Matthew Hart sums up why gold should be a part of every retirement portfolio:
“An ounce of gold cost $271 in 2001. Ten years later, it reached $1,896—an increase of almost 700 percent. On the way, it passed through some of the stormiest periods of recent history, when banks collapsed, and currencies shivered. The gold price fed on these calamities. In a way, it came to stand for them: it was the re-discovered idol at a time when other gods were falling in a heap of subprime mortgages and credit default swaps and derivative products too complicated to even understand. Against these, gold shone with the placid certainty of received tradition. Honored through the ages, the standard of wealth, the original money, the safe haven. The value of gold was axiomatic. This view depends on a concept of gold as unchanging and unchanged—nature’s hard asset.”
Put simply, gold is money – money that cannot be printed or debased. What better way to save for retirement than with the ultimate savings vehicle — physical gold. For an in-depth look at gold’s role in preserving assets under adverse economic circumstances, we recommend the study, Black SwansYellow Gold – How gold performs in periods of deflation, disinflation, stagflation, and hyperinflation“. The study draws from the historical record to show why many view gold as an investment for all seasons.
Q. Can I buy physical gold for my Individual Retirement Account (IRA) or 401(k)?
A. You can buy gold coins and bullion, and other precious metals*, in a self-directed IRA or 401(k) established with a trust company. People with retirement plans typically have a conventional IRA or 401(k) with a bank or brokerage firm that specializes in bank deposits, stocks, mutual funds, annuities, and other assets. In many cases, these investors have little or no say in the investments being made. A self-directed plan empowers the individual to make his or her own investment decisions and adds to the available investment options. Precious metals are among those options.
* In recent years, many IRA investors have come to view silver as a retirement asset with qualities similar to gold. USAGOLD has placed thousands of silver American Eagles and Canadian Maple Leafs with investors who believe in silver’s asset preservation attributes.
NEWS & VIEWS Forecasts, Commentary & Analysis on the Economy and Precious Metals Celebrating our 48th year in the gold business _________________________________________________
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