Do you have a nest egg for your retirement? What if your nest egg was a golden egg? This is what more and more people seem to be turning to in recent times. Since the Brexit vote in the UK, the price of gold has skyrocketed, with the pound dipping to some historic lows. With the Brexit not set to fully take place until 2019 as well as the impending US presidential election, the global economy is on shaky ground. Among the implications of this uncertainty is the concern about retirement. If the value of currency crashes, your retirement fund could be potentially worthless. It’s no surprise that increasing numbers of individuals are now opting for gold IRAs.
Gold, silver, and other precious metals are growing in popularity as a means of securing retirement as these cannot be devalued like currency can. Precious metals can be traded all over the world, and their value only increases when currencies lose value. Unlike holding your wealth in physical precious metals, currency savings in banks are greater risks. For starters, banks can and do fail. Furthermore, in recent times, hackers have been able to infiltrate and manipulate these systems, as some of the latest news has reported.
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Whatever your current financial situation, if you haven’t invested in gold yet, it’s wisest to start now. Not only will this kind of investment diversify your portfolio, but it will also hedge against inflation. Gold and other heavy metal prices will always move in the opposite direction of currency or paper assets. If there is one period in life when you need to financially secure, it is in old age. It is during this period that physical ailments become common and medical bills are high. In old age, you have little option of earning more money, so if your retirement fund isn’t enough to cover this, what can you do?
This is why gold IRAs have surged in popularity, particularly since the financial crisis in 2008 and the Great Recession that followed. Considering how precious metal values have also surged in the past decade, it is not at all surprising that people are putting more and more faith in these investments. At any rate, they are becoming more popular than paper assets. Since 2001, a single ounce of gold has gone from $271 to over $1,300 in 2016, and this is speculated to see even greater leaps. Even more astonishingly, silver has gone from a mere $4 per ounce in 2001 to over $17 at the time of writing this article.
The IRA Golden (Nest) Egg
Given the strength and reliability of these precious metals compared to currency, it makes sense to start putting those eggs into the gold IRA basket now. Check out sites like www.LearCapital.com for investment information and resources, and keep up with the economic trends. Investing in precious metals has never been quite as promising, and these assets have proven themselves to be invaluable over the centuries.
It does not matter how old you are or what your earning capacity is right now. Your best bet for financial survival (and that of your family, perhaps) is getting on the gold and precious metal bandwagon now.