If you’re serious about your individual retirement account, it’s goes without saying that you should be filling it with income-producing assets. However, you’ll need to go a step further to protect yourself from volatile, unpredictable markets. Diversification is a key goal here – precious metals like gold and silver are strong start. If you are interested in learning more about the benefits adding precious metals to your portfolio, then read on.
Are You Ready for Retirement?
Most people want to retire, and for many folks the earlier the better. However, it costs money to live and money doesn’t grow on trees, unfortunately. The major challenge with retirement is financial planning. Getting everything organized is paramount, and having a well-rounded IRA which can stand the test of time should be at the top of your list.
The perfect financial portfolio should be like a high-quality kite – at first it may be challenging to get it up into the air, but once it’s up it can stay afloat all day long and is more resilient than most against changes of weather. In order to stay afloat during these weather changes, your IRA account needs a variety of different asset classes, which can handle bull or bear markets. Is your Roth IRA account ready for any type of weather?
An Unpredictable Market
Since it’s hard to predict the “weather” for the next couple of decades, it would be wise to review a number of IRA companies to find out which investments that are best for the long haul. Nowadays, you can choose from the IRA, Roth IRA or Precious Metals IRA.
Why Precious Metals?
You can go into any coin shop and jeweler and you will find gold coins, gold karat rings and sterling silver plates. If these remain valuable in a jewelry box, why won’t they also remain valuable in your IRA? Precious metals can act as hedges against inflation, deflation and global unrest.
Disadvantages of Stocks
Some Roth IRA reviews might encourage a heavy concentration in stocks. While this can give you healthy returns when times are good, what happens in bear markets? During the 2008 credit crunch, stocks fell -40%. How can you recover if you aren’t working?
Disadvantages of Bonds
Can gold and silver compete with the dependability of corporate or municipal bonds? Both are tied inextricably to interest rates and credit ratings. Did you know that when the United States federal debt was downgraded, all debt in the country was downgradable as well?
Advantages of Precious Metals
Central banks hold gold and silver because these stand the test of time. They understand that stocks and bonds can be somewhat unpredictable. Generally, precious metals are not correlated to stocks and bonds. For this reason, a Gold IRA investment can efficiently plug holes in your financial portfolio by hedging against economic downturns.
Would you like to transfer or rollover your traditional IRA into a precious metal IRA? The top gold IRA rollover reviews will show you how you can switch over, using the rollover or transfer options. Did you know that some gold IRA companies will give you a cash incentive for completing your gold IRA rollover? Gold IRA company reviews explain how easy the process has become. You’ll want a well-constructed IRA portfolio, so you can fully enjoy all your retirement. To get started, give us a call today.