Saving Precious Metals

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At one time, prior to 2010, few people would have thought about investing in precious metals or gold but since the financial crisis of 2010 where 75% of all retirees found themselves with less money for their retirement than they had hoped for, people are certainly giving precious metals a thought as a form of saving. Of course those retirees in 2010 that found themselves on hard times, had invested in regular IRAs which in turn invest in the stock market and as the stock market reduced in value considerably, so did the savings of all those that had put their faith in regular IRAs. Since then many people have looked at the possibility of switching to gold IRAs as they are not dependent on any stocks, rather they only invest in gold and other precious metals. It is of course true that the value of precious metals including gold; can fluctuate but it is rare for them to fluctuate as greatly or as suddenly as stocks can. Plus gold and precious metals have been around for thousands of years yet they have not completely ever lost their value, unlike some stocks have.

We do not start saving for our retirement one day, one week or even one year before it is due, instead we start saving for our retirement many years before we are hoping to retire and not even the best on financial analysts will be able to tell us how the stock market or even the currency will be doing in our retirement year but, gold and precious metals have retained their value for thousands of years and so it is very unlikely that they will suddenly lose that value in the years prior to our retirement. As none of us want to have to be dependent on others for our financial well-being in retirement, we should perhaps think carefully on what we invest in for those years and perhaps choose an option that is safe rather than potentially lucrative but has a higher risk.

Gold IRAs give us the option to choose a more safe investment for our retirement and although gold may not make us rich like the stock market could, neither will it let us lose all our savings and have to be dependent on others. There are of course certain regulations regarding gold IRAs but as long as those regulations are adhered to, the tax benefits are the same as those that apply to regular IRAs. One of the regulations attached to gold IRAs is that you cannot invest in top physical gold investments like rare gold coins, coins that are considered collectibles but apart from that, you are free to choose what investments to make, perhaps in gold bars, regular gold coins or perhaps in gold by weight. Again, due to regulations, you will not be able to physically hold these investments yourself, even though they are termed physical holdings; you will have to hire a custodian to do that for you.