Most investors have stocks and bonds or a mutual fund or two in their portfolios and this is OK if you willing to pay the fees associated with these investments. These also have issues of privacy attached with them. Such as no privacy. The fund companies are required by law to disclose earnings and payments to the Government each year.
Say your fund goes up by 10% in a year, this is good but you will have to pay tax and report this income on your tax return as investment income. If your in a tax deferred account like an IRA or 401 plan you still have income gains, but the tax is not paid till you start withdrawals from the account. Usually at 70.5 years of age.
Now if you’re a baby boomer think of how many boomers will have to remove funds from these accounts at this time. What will that do to the markets? Go down probably. We have many more Precious Metals Investing Articles Now Available.
This strategy is great in markets where everyone is buying and the value of the funds goes up. But when there is a mandatory withdrawal it is like punching holes in a boat. Water seeps in and finally the boat sinks. Not a good plan after you have retired.
How can gold and silver help you in retirement and before? A few ways…
1. Gold moves in the opposite direction of falling markets and a weakening dollar.
2. When purchased with cash gold and silver can be a private transaction for you.
3. Gold and silver American Eagle coins can be put in a retirement plan, but then they are not private.
4. Gold and silver rare coins can be held privately and are very easy to sell and to hold.
There are a few disadvantages to gold and silver….
1. They pay no interest.
2. There is a storage cost. Safe deposit box, Hidden in your home or wherever… You could put in a safe at home for storage.
3. Long term gold and silver coins will increase in value and you will want to make sure they are stored in airtight containers.
4. Learning which gold and silver items you should be putting into your collection. Education is key to this.
These are just a few ideas to get you thinking about your retirement and how it can be secured. Another thing to think about is the issue of your health.
Will you need some kind of nursing care. This could wipe out your retirement account and all you savings. With your private holdings of gold and silver coins you can feel secure and have a stash to fall back on.
There will also be a little something to pass on to your children or others when the time is right.
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