The US financial system is based on confidence that foreign investors will continue to pour money into US dollar assets. Gold and the US dollar were once tied together but their ties were cut during the Civil War.
The cash flow of the government will never be insufficient for internal debt because it can create as much money as it needs to deal with that debt but the more money they create the less valuable the dollar becomes.
Whenever the economy is down one of the actions most likely to take place is the government printing more currency driving the value of the dollar lower.
Although there are plenty of advantages to investing in gold there can also be some disadvantages. More costs can be involved at the time of buying/selling gold.
You must pay the entire price of the gold upfront with cash at the time of purchase.
KEY TAKEAWAYS:
- Because gold is mined rather than made it is more expensive to get and develop into coins or bullions.
- Some people who are uninformed about their investment options get preyed on by gold companies.
- If you are investing $1000s with a company you should expect first-class service and delivery of your gold in days not weeks or months.
“See if your employer will allow you to rollover the funds from your 401K to an IRA account. If they can then that makes everything simple however, if they are not in a position to facilitate that then your other option is to cash-out your 401K and use those funds to start your gold IRA but be prepared to get a 10% penalty charge for withdrawing your money before your 401K has matured if you under the age of 59 ½.”
Original Source: http://www.groundreport.com/gold-retirement-guide-seniors/
The Gold Retirement Guide For Seniors posted first on http://valhs.org/blog/
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