Buying Gold

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Many people may think that buying gold as physical holdings is something which is restricted to the rich but if they do, they are very much mistaken. As physical gold can be bought by the ounce, most people could afford to buy at least an ounce or two but of course, they would not really be able to hold any gold themselves, they would have to seek the assistance of a custodian as is the case with gold IRAs. A gold IRA is almost the same as a regular IRA but instead of making your savings being invested in the stock market, any money placed in gold IRAs have to be invested in physical gold holdings or holdings of other precious metals. Gold IRAs therefore have a distinct advantage over regular IRAs and that is they are not susceptible to the volatile fluctuations that the stock market is renowned for. That does also mean though that gold IRAs are unlikely to make you rich which exceptionally, the stock market could. For this reason gold IRAs are considered by most to be safe investments, ones that will continue to increase in value, all be it slowly, as opposed to other investments which although capable of giving big returns, could give big loses. Any type of IRA is considered to be a good choice when saving for your retirement though as they give some very pleasant tax benefits. Although many of us would like to take a risk with investments in the hope that we may strike it rich, money for our retirement is not what we should perhaps be taking those risks with as there could be some very unpleasant results, like having to be financially dependent on someone else for our retirement years.

This is an unfortunate event that happened to those retiring in 2010, the time of the last financial crisis. That year it is estimated that 75% of all retirees were left short of what they had hoped to have for their retirement and this was due to them relying on investments placed in the stock market. Since then, many people have started to consider the possibility to purchase physical gold as a retirement saving and so of course they do that through a gold IRA. In order to receive the same tax benefits as regular IRAs, certain criteria concerning the purchase of gold and precious metals must be adhered to with Gold IRAs. These regulations may prohibit the purchase of rare gold coins or even collectible gold coins but they have little restrictions on purchasing gold by the bar, coin or ounce, nor do they have many restrictions on buying other precious metals. As precious metals historically maintain their value and also continue to increase in value, even if that increase can be slow, many people are now switching to gold IRAs and even if they are not switching all their investments, they are switching at least some so that their retirement portfolio is diverse and therefore safer.

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