Utilizing a self-directed IRA allows you to buy gold money coins and place them in your account. Doing so provides diversification, control and the ability to hedge against inflation or stock market downturns.
Providing Diversification
Using stocks, ETFs and mutual funds to grow your retirement dollars is a traditional method. However, one of the challenges of only utilizing these types of assets may occur if the economy goes sour or companies come in with adverse earnings reports. Diversifying your portfolio by utilizing a Gold IRA lets you buy gold money coins to hold for the future. If gold rises in value, it can increase your wealth when you’re holding this type of asset.
Giving You More Control
Using a self-directed IRA should provide you with more control over your investments. This type of IRA lets you buy gold money coins and hold them physically in your account. Taking this action can be highly advantageous if inflation starts to rise and the value of gold increases. Using precious metals as a hedge should give you more control to protect your wealth if economic conditions worsen.
Allowing for Growth
Some individuals have always thought of gold as a safe haven that can help you protect your wealth. In recent years, it’s become even more popular as the value of gold crossed its all-time high near $2000. Adding this precious metal to your portfolio can allow you to grow your wealth even higher, especially if spot gold prices continue to surge in the next few years.
