You can hold physical gold and silver in an IRA, and there are certain advantages to doing so.
Historically, IRAs with an allocation to precious metals perform better than IRAs with no exposure to silver or gold. There are also tax benefits when contributing to an IRA.
American retirees are buried in debt.
Between 1999 and 2019, the total debt burden for Americans over age 70 increased by 543% and totaled $1.1 trillion according to data compiled by the Federal Reserve Bank of New York. Debt grew by 471% over the same period for those in their 60s and totaled $2.14 trillion at the end of last year.
Every morning, I get up and peruse the latest gold news. As part of that process, I just Google the word “gold.” I find a lot of useful articles that way. But I also have to filter through a lot of extraneous stuff – headlines like “Australian Bicycle Team Wins Gold Medal.” Anyway, I generally just scroll past that stuff. But as you can imagine, if it’s a big story, I end up seeing the headline over and over again. And sometimes, I click out of morbid curiosity.
That happened today. Over the last couple of days, I kept seeing headlines about how somebody has figured out how to melt gold at room temperature. At first, I thought, eh, I don’t really care. But after seeing the headline for the 894th time, I clicked.
In a recent appearance on RT Boom Bust, Peter Schiff emphasized the stock market bubble has burst and we are already in a bear market.
This is early in this bear market. It’s very young and unfortunately, it’s going to be very long-lived. I think this is going to be similar, if not worse, than the bear market that went from 1966 to 1982. It took 16 years for the Dow to make a new high, and during that time period, inflation took about 70% away from the Dow’s value. This time I think it’s going to be worse.”
This isn’t good news if you’re planning for your retirement. So, how can you protect your wealth as the stock market bears rage? One way is by adding precious metals to your retirement plan.
