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A gold IRA investment could be a great retirement-planning strategy, especially if you want to combine the benefits of buying gold with the tax benefits of a government-approved retirement account.
Regardless of your age or investing experience, it’s never too early – or too late – to start thinking about your retirement plans. Having a sound investment strategy is essential to reaching those objectives.
But unfortunately, many investors’ current retirement accounts aren’t as diversified or as well-planned as they could be. As such, these investors are at the mercy of the volatile stock market, watching their portfolios sink whenever the market hits some turbulence. And let’s face it – we have seen some very turbulent times over the last decade.
When the stock market drops significantly, it can wash away years’ worth of gains – even for investors who thought that some of their “low-risk” assets were safe. And when this happens, it forces many to delay their retirement and continue working indefinitely.
This is one of the biggest reasons to consider a gold IRA investment. Whether you want to rollover an old 401k plan or convert an existing IRA to investments in gold, a gold-backed IRA could provide the diversification, protection and growth you’re looking for.
1. Shield your portfolio from the risks of paper assets
A gold IRA investment (More Info) can help diversify your portfolio and make it more balanced. As such, you could lift some of the risks of holding only paper investments, such as stocks, mutual funds and bonds. So, as you near retirement, you don’t have to worry about your nest egg being suddenly eaten away by stock market volatility.
2. Protect yourself from inflation and the declining dollar
Stock market volatility isn’t the only threat to investors’ wealth. As the value of the U.S. Dollar sinks, it hurts Americans’ purchasing power and ultimately their lifestyles. When planning for retirement, you want to live tomorrow as you do today. That means being able to make purchases and other financial decisions without worrying that your wealth will disappear during retirement.
Historically, the value of gold rises when the dollar sinks, partially because gold is a finite resource – you can’t simply print more, like you can with paper money. Investing in gold can therefore be a strategy for hedging against inflation and preserving your wealth in spite of future economic turmoil.
3. Grow your portfolio while enjoying the tax benefits
As a finite resource, gold has considerable growth potential. Even after gold prices climbed at a tremendous rate over the last decade, many analysts believe those historic highs were just the beginning. Plus, when you consider the additional tax benefits that come with an IRA, then you can see just how beneficial this precious metal can be as part of your retirement planning.
Birch Gold Group is a leading precious metals company specializing in gold-backed IRAs, gold coins, bullion and other precious metals, including silver, platinum and palladium.
Rated A+ by the Better Business Bureau, Birch Gold can assist you with your retirement planning strategy and identify options for your portfolio. Find out more by calling us today at (800)355-2116 or request more information by filling out the form on this page.