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Gold IRA
Posted on 3/1/23 at 8:18 pm
Posted on 3/1/23 at 8:18 pm
Does anyone know whether an Gold IRA is as good as any other IRA or 401? I was thinking of increasing my 401k contribution but was considering starting a Gold IRA just to spread things around a bit.
Can anyone lend some advice? Thank you.
Can anyone lend some advice? Thank you.
2
Posted on 3/1/23 at 8:20 pm to Captain Poopie Pants
What’s your investment thesis on gold?
If it’s an “end of the world” type scenario, I’m not sure the tax advantages of an IRA are really relevant.
If it’s an “end of the world” type scenario, I’m not sure the tax advantages of an IRA are really relevant.
Posted on 3/1/23 at 8:44 pm to slackster
I don’t know much about anything really. I’m going to buy some gold & silver this year. I have a 401k w/my company & wanted to either increase my contributions to my existing 401 or open a Roth IRA. So, contribute to both.
My intent is to spread things around. 401, Roth, physical metals, or perhaps a Gold IRA in the place of the Roth.
My intent is to spread things around. 401, Roth, physical metals, or perhaps a Gold IRA in the place of the Roth.
This post was edited on 3/1/23 at 8:46 pm
Posted on 3/1/23 at 10:00 pm to Captain Poopie Pants
If you are buying it as a hedge against the dollar and to preserve wealth, go for it. It will probably be useful until a new monetary system is put in place.
If you are buying it as an investment, it may very well do that, BUT you might be waiting a long time and there could be better things to INVEST into in the meantime.
If you do get gold, GET HARD, PHYSICAL GOLD that you can put in a safe or safety deposit box.
Today, Gold is leveraged and there are people that own gold in electronic accounts. They don't hold physical gold or silver. Think of a run on the bank scenario in the event the world goes to hell in a handbasket. Those electronic gold assets are as good as gone.
If you are buying it as an investment, it may very well do that, BUT you might be waiting a long time and there could be better things to INVEST into in the meantime.
If you do get gold, GET HARD, PHYSICAL GOLD that you can put in a safe or safety deposit box.
Today, Gold is leveraged and there are people that own gold in electronic accounts. They don't hold physical gold or silver. Think of a run on the bank scenario in the event the world goes to hell in a handbasket. Those electronic gold assets are as good as gone.
Posted on 3/1/23 at 10:50 pm to Captain Poopie Pants
quote:
Does anyone know whether an Gold IRA is as good as any other IRA or 401?
As “good as” in what sense?
Posted on 3/1/23 at 10:52 pm to Captain Poopie Pants
quote:
I don’t know much about anything really.
ok. read the sticky thread at the top of this board then
Posted on 3/2/23 at 8:05 am to Fat Bastard
That’s not what I meant.
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