When you’re interested in building a retirement portfolio for the future, you’ll probably use stocks and bonds to grow your wealth. Another way to help create more gains and diversify your account at the same time is by utilizing an IRA gold investment. Doing so can provide you with a tax advantage and the ability to place physical gold coins in your IRA.
Utilizing an IRA Gold Investment
If you’re like several investors, you’ll likely hold a traditional IRA in your retirement portfolio. This allows you to invest in mutual funds, bonds stocks and ETFs. Keeping this type of investment vehicle can be highly beneficial when the economy is doing well and the stock market is rising. However, economies go through different cycles, which can lead to downturns in the stock market. Having the ability to utilize an IRA gold investment means you can place physical gold coins in a self-directed IRA. Doing so can help you hedge against weak economies as gold will often rise when the stock market goes down.
Benefits of Using a Gold IRA
Owning an IRA where you can store precious metals can be highly advantageous. You’re allowed to buy physical platinum, palladium, silver or gold coins and keep them in your account. Taking this action can help keep your portfolio’s value from falling when inflation hits or the economy goes into a recession. You will need to follow specific rules when you utilize this type of account, which includes purchasing precious metals with a particular fineness and storing them in a depository that has been IRS approved.
