We’re going to try and make that more clear for you in this blog post.
But before we go any further we need to say this:
WE ARE NOT FINANCIAL EXPERTS OR FINANCIAL ADVISORS. The information here is not financial advice so don’t take it as such.
Cool? Ok Let’s move on.
Are you near retirement age? Or maybe you’re already retired and are looking for a good way to hold on to the value of your money?
Well some would say that a physical gold-backed individual retirement account is a really good option to do that.
There are a lot of different types of IRAs that a person could choose from. And you may even already hold one of these retirement accounts.
But it’s ok if you do because apparently most of the IRAs out there can be rolled-over into a Gold IRA.
So why would you want to?
Well the way I see it is this.. You could hold onto your money in a bank account or just put it under your mattress, but that doesn’t many you any money.
So what, you say?
Well you want to at least make a little bit of money off of your savings to keep up with inflation. Over years your money becomes worth less and less. So a loaf of bread today costs $X but in 10 years from now.. might cost you more. But if you didn’t invest your retirement money properly, you’re still left with the same dollar amount, while everything around you costs more.
Kind of get what I’m saying?
Now, you could invest that money into the stock market, but damn is that a volatile option.. I like to think that playing the stock market is kind of like gambling your money away, because it’s essentially the same risk. You don’t know whether your bet will come through for you or not.
That brings us to another option – a Gold IRA. There are a lot of people whose recommend regal assets and say a gold ira is a great choice.
With a gold IRA, you’re able to put your money towards buying physical gold and have someone securely store it for you.
What’s that mean? Well, gold has always been used as a store or value. The amount of gold it took to buy a loaf of bread 100 years ago is the same amount of gold today.
But in terms of dollars bread was much much less (only a few pennies!) a hundred years ago. What’s that loaf of bread in your pantry cost you today?
That’s why some people prefer to purchase gold to hold the value of their money. It’s not necessarily to make a huge profit through the investment. It’s more to hold onto the value of your wealth.
At least that’s how I understand it. I could be wrong so speak to a financial advisor before doing anything. And also you can learn some more about Gold IRA rollover.
So if you’re interested in hanging on to the dollars you’ve already got, then a gold IRA may be a pretty good choice. But like I said before don’t take our word for it. Ask a professional first, before you go do anything.