With the economy in constant turmoil and advisers everywhere recommending precious metal investments as a way to protect assets, it isn’t surprising that many people are considering the advantages of using gold to secure their retirement. Not only are more people struggling in retirement than ever before, but many analysts believe that America could be in for the worse retirement crisis ever.
Invest in Gold with Your 401k or IRA Funds
One way to begin securing your retirement with gold is to invest some of the funds in your 401k or IRA account. Since the funds in these accounts are held in dollars, the decline of the dollar directly affects the value of your retirement savings. By converting a portion of the account to gold you protect those assets from depreciation and ensure that a minimum amount is safeguarded from inflation and economic collapse. You can deposit American Gold Eagle coins directly into your IRA or use the funds in the account to buy them online. These coins will not decline in value like the dollar and are therefore a safe option for securing your retirement with gold.
Devote a Portion of Your Annual Salary to Gold Investments
Another way to secure your retirement with gold is to devote a percentage of your annual salary towards gold investments on a quarterly basis. Experts recommend committing 5% – 25% of your yearly investment budget to gold investments, depending on your individual needs. If your goal is to earn as much profit as possible for your retirement, it would be best to keep your gold holdings below 10% of your investment capabilities, as this will give you the liquidity needed to trade with more flexibility. Keep in mind that there are a number of ways to invest in gold. Diversification is the key to building a strong risk-mitigated portfolio that will stand the test of economic trials.
Use Gold ETFs to Gain Insight and Increase Flexibility
You can compliment both of the above strategies by investing a gold exchange-traded fund (ETF) in order to track the price of gold and increase your trading flexibility. With an ETF you don’t actually have physical possession of your gold holdings, as they are stored by the fund. Instead, your holdings are represented by stock units that can be traded on the stock exchange during market hours. Although you can’t exchange an ETF for physical bullion, you can trade it for cash whenever you’d like.