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Reasons Why Investors Should Get A Gold Backed IRA
Physical gold is the ultimate investment vehicle that can be used to plan for a financially sound retirement. Compared to other types of investments such as annuities and bonds, gold is the only retirement asset that retains a strong long-term value. In order for a gold bar to be used in a gold backed IRA, it must have the following characteristics:
– It must be a 24 karat gold piece with a purity of about 0.995 and above. However, the American Gold Eagle, which has a purity of about 22 karats, is the only exception to this rule.
– The gold must have a stamp or an assay mark from a COMEX or NYMEX-approved refiner.
A gold backed IRA is a very attractive and impressive investment plan. The following are some of the reasons why individuals should choose gold as the ultimate retirement plan:
Gold is Not Effected By External Factors
Gold is often referred to as the crisis commodity. This is because it has been around for thousands of years and it has been used as a store of value throughout this time. Unlike printed money and other investment plans such as stocks, gold can survive inflation, devaluation of the currency, recession, financial crisis, economic bubbles, wars and terrorist attacks. Its value often stabilizes or increases in spite of negative financial, monetary, environmental and political factors. Therefore, the investor can sleep easy at night knowing that their retirement investments are safe regardless of the political or economic climate.
Real Gold in the Account and Real Gold After Retirement
When an investor chooses a gold-backed IRA, they will get real gold in their account worth the amount that they want to invest. Unlike other types of IRAs where the investor would get shares in a gold mining company or gold ETFs, the individual who chooses this type of retirement plan will own physical gold, and they can request to receive the gold pieces or coins when they retire.
Freedom From Government Spending and Central Bank Policies
Gold is quite rare, as it is very difficult to mine and produce. Unlike money which can be printed in abundance, gold is a precious and unique asset that cannot be artificially made. Furthermore, the supply does not increase quickly, but the demand is always there. Therefore, any negative policies by the government and the central bank will not affect gold. The government cannot use gold to pay off its national debt, and the central bank cannot enact policies that will directly affect this investment.
The Investor Can Include Other Types of Precious Metals
The gold backed IRA is not limited to gold pieces only. The investor can choose to include other precious metals in their retirement account. Examples of other metals that can be included in this retirement plan include silver, palladium and platinum. The metals can be held by the investor in both bar and coin form, as long as they meet the required characteristics and levels of purity.
A Profitable Payoff
An investor can never go wrong if they invest in gold. This metal has maintained its purchasing power throughout every economy and civilization. Though inflation could devalue a country’s currency and its stocks, the price of gold will definitely continue to rise. In fact, factors such as stock market failures, foreclosures, high unemployment rates, and currency failure which negatively affect other retirement investments will positively affect the price of gold. Therefore, the investor can always be sure that they will get a profitable payoff when the time comes for them to retrieve their gold investment.
A gold-backed IRA is extremely profitable and stable. However, it is always important for the investor to shop around and to find the best company to work with. There are quite a number of companies that deal with precious metals. It is important for the investor to only deal with a company that has a great reputation and good reviews from previous clients. A good business should be able to answer all the questions that the potential client has about the precious metals that they have. They should be professional and attentive, and they should deliver the precious metals in the shortest amount of time possible. This way, the investor can get their gold-backed IRA investment plan so that they can have their stress-free present, and financially secure future.