Many Americans are looking at retiring in the coming months and it is drawing attention to the quality and safety of a gold IRA. Posted by James Randolph on December 09, 2011
A Golden Retirement—Gold IRA
December 9, 2011 – Many Americans are looking at retiring in the coming months and it is drawing attention to the quality and safety of a gold IRA. Given the multiple woes of the market in the past three years, some of our golden generations have diversified their portfolios with precious metals. Many Americans are unaware that you can rollover an existing IRA or 401(k) into a gold IRA, which provides all the tax benefits and shelter of a traditional IRA with the added benefit of the stability and investing power of gold.
It must be stated, given recent events in the financial markets such as the collapse of MF Global, that owning physical gold is a highly advisable strategy. However, for working Americans, investing Americans, or Americans transitioning into retirement, keeping their wealth a little closer to the institution of the market can be more comfortable financially and professionally. For those who have been looking for a way to combine traditional retirement vehicles with a smart hedge and investment strategy, a gold IRA is the ideal way to play it and play it safe.
Given gold’s performance in the past decade, any way you invest in it is clearly a winning strategy. As we watch further fiscal insanity in the forms of derivatives, which are now saturating the market at records even beyond what we saw in 2008, gold makes a lot of sense. Interestingly, the financial term derivative actually means, “valueless,” because its nominal value is derived from the totally independent, underlying product. There are now $707 trillion worth of Over The Counter derivatives in existence. This is the equivalent of the Gross Domestic Product of the entire planet for 11.2 years.
And, as Jon Corzine’s testimony before congress this week has proven, American banking institutions cannot automatically be relied upon when considering retirement. The money you have worked hard for should be available to you upon retirement, not lost like the $1.2 billion that MF Global’s customers may never see again.
As far as investment strategies go, a gold IRA is the best of both worlds. It allows you to enjoy the benefit of an historic method of holding wealth while providing all the tax shelter and market contact of an IRA. Prices are relatively low right now, and major banks including Goldman Sachs, Credit Suisse, and Societe Generale are all forecasting a gain through 2012 due to continued low interest rates in the US.
Roll your retirement in gold. Initiate a gold IRA or use an existing IRA to fund a gold IRA today.
Senior Staff Writer – Certified Gold Exchange