When it comes to planning for your retirement, it is a good idea to both diversify and consider multiple options to save. The most popular method is the 401K but there are other methods one can use such as Real Estate and Gold? Yes gold! Our friends from Lear Capital explains how!
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Why Gold IRA Investment May Be Best for You
It does not matter how old you are or whether you are single, married, or with children – it is never too early to start thinking about retirement. To be more precise, your retirement fund. If you want to make sure that you have enough of a nest egg ready for, you may be thinking along the lines of traditional retirement funds. For instance, a 401k fund. This, however, may be somewhat limiting your options.
It is no secret that the current global economy is in somewhat of a turmoil at the moment. This means that finding alternative means of keeping your money safe is probably advisable. One of the best things you can do is to rely upon one of the most consistent and reliable options – gold. Here are a few of the reasons why you should invest in gold and not a 401k:
Stability in the Face of Uncertainty
One of the main issues with traditional retirement funds is that they rely quite heavily on paper currency. The danger here is that the value of currency tends to fluctuate. Political and social issues can cause the dollar, the pound, and other important currencies to take a nosedive quite quickly. This means that you cannot be certain that your retirement fund will be worth the same amount in several years as it does now. Gold, however, does have a better track record. This is due to the intrinsic value of the yellow metal. While the price may fluctuate on occasion, the actual value does not change. This means that you can typically expect the precious to be worth the same, or even a lot more. Particularly considering how it has been performing lately, the future certainly does look bright.
The Potential for Growth
Gold is a natural resource and as such, there is a limited supply of it. This means that is somewhat of a dwindling resource. The demand for the yellow metal, however, will not decrease, particularly as it does have some industrial uses. So just imagine what will happen when the supply is lowered but not the demand? That’s right, the amount that you have in your IRA will suddenly become a lot more lucrative. Another convincing argument for growth potential is how the precious metal has increased in value whenever interest rates increase. So far, interest rates have been steadily increasing and it shows no signs of stopping. Therefore, you will stand a good chance of being able to make a lot back on your initial investment.
Greater Control, Lower Risk
You do not have a lot of control over your 401k. This means that you will have only limited say in some of the investments that are made on your behalf. As you well know, there is an incredible amount of risk involved with certain types of investments. With a precious metal IRA, however, all of the control is in your hands. As it is a private investment, you are much less likely to encounter risk. Furthermore, you will stand a much lower the chance of losing a considerable amount of your money.
As you can see, the above points prove why opting for gold will be a much better option for you as well as your family’s future.