Americans that are hard working think about the fact that they will retire someday. This is why retirement investing is such a huge business locally. The problem with the investment choices that are available is the fact that the world has become extremely unpredictable. As a result, people are looking for other investment vehicles as opposed to the traditional stocks and cash. One of the investment vehicles that have gained a lot of popularity is precious metals. Below is what you need to know about people investing in gold, silver and platinum.
Why people shy away from stocks and bonds
People are staying away from stocks, bonds and mutual funds, mainly because they are really volatile. The events that have been happening, such as the Brexit vote, the election, wars in the Middle East and others affect the markets greatly. For instance, the dollar took a hit when the UK decided to leave the European Union and for some time, the Dollar destabilized when Trump won the election. People are getting weary of these types of uncertainties.
When you invest in silver, gold or platinum, these factors that sway the market will not affect you as much. This is because the precious metals always maintain their intrinsic value. The truth of the matter is that metals like gold have been appreciating in value. For the past decade, the price of gold has appreciated by between 360 and 662 percent. The factors that have led to this change include the fact that gold mines are producing less and less of the ore every year.
Getting a self-directed IRA
Another trend that is common among today’s investors is getting the elf-directed IRA. This is a situation whereby you will have control over the things that land and stay in your account. You can choose to mix the traditional stocks and bonds with a little gold and silver. The key is having a partner such as the US Money Reserve to assist you with the process. Making a transfer is as simple as making sure that the custodian of the old account name matches that of the new account. Alternatively the money reserve can assist you in moving from the traditional 401K to a precious metal IRA.