Why You Should Invest in a Gold IRA Today

It doesn’t take a genius to see that the US economy is in serious trouble. But it goes much further than that because the coronavirus is wreaking financial havoc all over the globe. Have you diversified your portfolio yet to preserve your wealth? If not, you’re vulnerable to all sorts of nasty possibilities that can kill your retirement wealth.

We’d like to open your eyes to something new and different. Investing in a gold IRA means adding portfolio diversity, an inflation hedge, and economic downturn protection to your bottom line.

The Unadulterated Truth About Investing in Gold

You don’t believe me? What happened during the housing market and stock market crash in 2008? Many retirees lost as much as half of their portfolio. And it took years before they finally recovered from such a tough hit to their accounts.

Guess what else happened? At the same time the value of gold temporarily rose by about $1200 per ounce. In early 2009 the gold spot price traded at around $700 an ounce. By the end of the year it had gotten nearly as high as $2000 per ounce. It eventually settled in the $1500 per ounce range and stayed there for a few years before dropping even more.

Right now, with all of the financial troubles created by the coronavirus, gold and other precious metals are acting similarly. At the end of 2019, you could have paid $1200 for an ounce of gold. Today, an ounce of gold costs $1900. Talk about a huge difference!

As you can see, it’s quite lucrative to invest in gold over the long term. If you began investing in 2008, your gold would have almost tripled in price. Opening a gold IRA account is a great way to make serious gains during tough economic times.

Do you know what else a gold IRA can do for you? Keep reading to find out.

Portfolio Diversification is an Absolute Must During Recessionary Periods of Financial Tumultuousness

Having a diversified portfolio means you aren’t risking all of your hard-earned wealth in one area. So many people invest solely in the stock market and wonder why their wealth gets cut in half whenever there’s a market crash. Are you one of these people? Or do you recognize the value of diversified investments?

You have to place your wealth in multiple baskets in order to remain financially healthy and strong. Investing in the stock market is great and it’s an excellent way to make wonderful returns for your retirement future. But then February and March 2020 come along and your investments are suddenly worth 35% to 50% less.

Thankfully, the stock market seems to have rebounded very quickly. In fact, the NASDAQ is breaking records every day. Do you know what else happened during this time? The value of gold and silver has risen to greater heights as well.

Instead of fearing the next market crash, you can invest in a gold IRA to secure your retirement future. This investment thrives in every market. But in particular, it does even better during times of economic stress and strife.

We never want you to have to worry about losing half of your wealth at any given moment. Even if it’s only temporary for about six months. You need to open a precious metals IRA as soon as humanly possible. Work with one of the excellent brokers online to get started. Fund your account and begin purchasing IRA approved gold and silver precious metals. And watch your wealth grow by leaps and bounds over the years as you head toward retirement.

The Tax Advantages of a Gold IRA Are Second to None

For the most part, the IRS isn’t very fond of giving tax breaks to the American people. But they are willing to do so from time to time. And when it comes to a self-directed IRA account a.k.a. a gold IRA, the tax advantages are stupendous.

How so? Well, we can think of six big advantage is right off the bat. They include the following:

  1. Your investments earn greater wealth in a tax-free or tax-deferred account. The tax situation depends on how you set up the account at the beginning. You can pay your taxes first and accumulate tax-free wealth that you can use however you choose in retirement. Or you can use money to buy gold that hasn’t been taxed yet. You’ll have to pay the taxes when you begin taking distributions in retirement.
  2. You can accumulate tax-free savings to live a healthy and happy retirement. Again, this all depends on the way your account is set up at the beginning.
  3. You can accumulate tax-deferred savings into your self-directed IRA account. When you take distributions, you’ll pay the taxes on the wealth that you’ve accumulated within the precious metals IRA.
  4. You’ll have a lower adjusted gross income every year. As an example, if you make $55,000 a year, you can put $5000 into your self-directed IRA account. This will lower your adjusted gross income by $5000. You’ll only have to pay income taxes on $50,000 instead of the full $55,000.
  5. You aren’t forced to begin taking distributions at age 65. The minimum age to start taking distributions is 70 ½. This means you can continue accumulating additional tax-free or tax-deferred wealth for another 5 ½ years into retirement.
  6. You only have to pay the marginal tax rate on tax-deferred investments. Most retirees accumulate less money after they’ve retired from their jobs. This means you’ll pay less taxes in retirement based on your earned income and IRA account distributions.

Bottom Line

At this stage of the game, it’s pretty obvious that there are tremendous benefits to opening a precious metals IRA. You’ll receive excellent tax breaks, lower your annual gross adjusted income, and accumulate wealth all at the same time.

Gold and other precious metals are very scarce right now. Major countries like China and Russia are gobbling them up by the ton. This creates even greater scarcity and causes the value of gold to rise even higher. Couple that with a faltering economy and political uncertainty and you have a recipe for success as a gold investor. Do yourself a huge favor and open a precious metals IRA account today.