Gold IRA – Reasons You Should Consider a Gold IRA Account
Allocated Gold Assets for Retirement
As the ultimate protection against inflation and even economic collapse, gold is about as good as it gets. You probably know that, without the backing of these brilliant bars, the dollar would be a useless piece of cloth and fiber. It is for these reasons (and several others of course), that a gold IRA account for retirement can be very safe as an addition to your assets.
Spreading your risk over multiple industries has a single premise: that they perform independently. What this means, basically, is that a catastrophic collapse in one won’t affect the others so much.
Although the above is the ideal; it is rarely true, as all industries share at least a minute connection.
Gold retirement accounts are so secure, however, because gold is simply the only asset class that is truly independent of economic and financial afflictions in other investment vehicles.
Gold, essentially, can’t be touched! This is why in 1929 President Franklin D. Roosevelt, as a result of the Great Depression and collapse of the American economy, outlawed private ownership of gold.
A Gold IRA is Pretty Much Untouchable
Aurium has an unrivaled brilliant yellow sheen and resistance to chemical attack. Additionally, of course, both men and women love it, which makes it valuable right away.
It can be fashioned into jewelry of all kinds, and gold IRA accounts stand as future protection against almost anything, as long as it’s less drastic than the total economic collapse of your government.
In fact, gold is still valuable in such cases; for example, if you move to another country where the value of the American dollar has been halved – as happened in the mid-2000s – then you can use gold to get the true worth of your money.
If you do decide to consider gold IRA accounts, be sure to employ the services of a gold firm that demonstrably – through their track record – has the expertise, interest and commitment to match up your pre-existing stock portfolio or 401K to an account that can sustain your retirement plans.
Ultimately, for purposes of longevity and security, precious metal accounts are the way to go, given the recent drop of the dollar and its mild resurgence.
We are now in a period of time when even the British pound is weaker than in times past.
Most people would agree that a (gold IRA) retirement account is not something you want to fool around with, after all. It is reserved for the time when you should be enjoying your twilight years, not worrying whether you have enough money to last the “night”.
Gold IRA Account as an Investment Vehicle
Gold has the very unique property that, as demand for it increases, so does the price; whereas the opposite is true for other securities.
While actual gold that you can touch has only recently been added to IRS accounts, the principle has always existed. There are certain restrictions on selling your gold before a certain age, in order to avoid taxes.
For example, if you liquidate them before the age of about 60, then you are hit with a 10% tax on top of the capital gains tax with respect your gold IRA, which is intended as a penalty. If you sell your gold off afterwards, then there is no penalty, which is a very good reason to use it as a retirement plan.