When you joined the workforce, you were given the choice to start an IRA. You were probably told this would protect your future. You make regular contributions, maybe your employer would put some in as well and the money would grow until you are ready to retire. By that time you would have a nice chunk of change to make your retirement more comfortable.
Sounded great, didn’t it? Like most Americans, you agreed and began regular contributions. But, with the way the economy has been going, you can no longer be sure the money will still be there. You may be wondering how this is possible. An IRA is supposed to be the same as a bank account. Whatever you put in just sits there until you take it out.
Well, it doesn’t work that way. The money you deposit dose not sit in the bank vault. The bank uses this money to make loans for other people and to make investments. The bank will invest in all sorts of things, including stocks on the stock market. The stock market is very unstable. If you follow any stocks at all or watch the news, you will know that a stock can drop dramatically over night. One day you think you are a millionaire and the next morning you wake up to find out that you are broke.
This would never happen if you had invested in gold. Gold prices rise and fall, but never as drastically as stocks. If you invest in gold, you can see the price drop and still have plenty of time to cash out before you lose too much money.
Convert Your IRA to Gold
In order to protect your future, you should convert your IRA into gold. Understanding gold ira is the only way to be sure you will have any money at all when you are ready to retire. You can keep the gold safe at home in your own private vault, or store it at a security company. These companies specialize in keeping valuables safe.
They perform the same function as a safety deposit box at your bank. So, you could keep the money in a safety deposit box at your bank. But, what if the bank closes down like the banks in Greece did? What if you get locked out and are denied access to your gold? With security companies the chances of this happening are very slim.