When President Nixon took the United States off the gold standard the printing controls for paper money was removed as well. Since then, paper currency is being printed at an alarming rate with no gold to back its value. This, coupled with the national debt, can lead to devaluation of the dollar which is what is currently happening when considering the dollars’ impact on todays purchase value. Like the situation many found themselves in during the 2008 serious economic deterioration, your retirement account, based on paper currency only, will devalue as the dollar declines. Unquestionably, your retirement funds will be worth much less by the time you need to use it. If you don’t want your entire life savings to take another hit, you will want to take proactive action NOW. One way to ensure that a portion of your retirement retains its total value is to switch a good portion of your IRA into gold.
The stability of having precious metal in your IRA account will protect you and your family. One of the principal threats is from foreign pressures, because huge numbers of treasury bonds are held by other countries; this drags down your retirement account value. Switching into a Gold IRA can protect your retirement asset against paper money devaluation that is certain to occur in the coming years; certainly, by the close of 2018/19. Basically, a gold IRA is a self-directed IRA with physical gold as part of your portfolio. The wealthy do this as part of routine investment protection because they realize the value of gold and silver precious metals. Everyone can do this as well. You can transfer all or part of your plan from cash to gold IRA investing, providing the transfer goes from one custodian directly to another custodian.
There are several investors and brokers who can set it up for you. Some have been investing in gold for decades and know exactly what they are doing. You want assurance* the company you select to help, is highly recommended and has a solid track record specializing in gold IRAs. You can rollover an old 401k, 457b, 403b, pension plan and annuity or thrift savings accounts into a precious metal IRA. It is usually tax, penalty and hassle free if your IRA deposit account goes into a new custodial account within 60 days once per year. There is a lot to the process if you don’t know what you are doing, which is why you need a reputable company to help you set everything up. Current 401k retirement accounts are a bit more complicated with your eligibility depending on being still employed by the same company. As you can see, there is a bit more to the process with a 401k; however, educate yourself and get competent guidance for the process if you are wisely considering a gold 401k rollover on a current account.
Precious metals, such as gold and silver, tend to either retain their value or increase in value when other currencies plummet or fail. Gold will fluctuate smoothly as the economy floats, with the overall trend UP, which is why gold has stood the test of time and used as currency for literally thousands of years. Fortunately, we are in one of the smoother fluctuations making a gold IRA a huge bargain. Nevertheless, have a perfect financial storm forming with paper money about to start losing value and the lower gold prices positioned to increase. Putting a portion of your retirement savings into gold will insure having assets when you need them most. You work hard for your money so; it makes good sense to protect it. Consider the possibility, and see how it can work to stabilize your future finances in an unstable financial climate.