Adding Precious Metals to your IRA – a Good Idea or Not?

An Individual Retirement Account (IRA) is an investment that everyone needs to consider and although many IRA account holders have paper assets such as money, stocks and bonds many other people are looking into having a Gold or Precious metals IRA. A Gold IRA is the same as a standard IRA except you put approved precious metals such as Gold, Silver, Platinum and Palladium into it instead. There is a debate about whether or not a Gold IRAs is  a good idea?

Gold as an investment has been around for thousands of years and investors know that Gold has kept its value through turbulent times as well as still being seen as a safe haven. It can come in many forms such as coins, bars and jewelry etc.

Gold IRAs – a good idea? -or a bad idea? Well it can be a bit of both because it is advised that an investor should have different types of investments and Gold is just one type of investment. When the stock market goes down, Gold will usually go up. Physical gold is also seen as a stable precious metal where the price of physical gold is always on the rise and if it does drop it can quickly pick itself up again. Another reason that people want to invest in physical Gold is because it is seen as being a “hedge against inflations” and other tough times such a stock market crashes.

Gold is seen as a “store of wealth” and so is Silver, Platinum and Palladium. So owning a bit of Gold in your life can come to your advantage. Keeping Gold in a Gold IRA may not be a good idea because you would have to place it in self-directed IRA which involves risk and this means that your Gold is in someone else’s hands and may not be available to you in your hour of need. But this could be a good thing because although the Gold is not available to you straight away you know that it is in a safe place in case of theft etc.

The best idea is PROBABLY to ask a financial expert if a Gold IRA is a good idea for you? – because they will give you better advice; show you statistics and the history of investing in Gold IRAs. If you are still interested in a Gold IRA you will need to research the different companies out there by looking at the following questions such as: do you know all the fees before you invest; is the company able to provide for your different needs and goals; are they a verified company and do they have good reviews from their other clients. Read our review of Lear Capital here and our review of Rosland Capital here.