Tax season is upon us again. This year is different for many people because of the economic impact and financial challenges resulting from the ongoing pandemic. Just yesterday, Bloomberg reported that the IRS is planning to delay this year’s tax-filing deadline by one month. This gives taxpayers until May 17 to navigate their tax plans. This extension has not only helped to alleviate the stress of many Americans, but it has also provided a great opportunity to review your own portfolio.
I feel so grateful that the people I care most about—my family, friends, and team members—have been fortunate to get through this tough time better than many others. With a combination of looking forward, being diligent, and using common sense, we have encountered our share of setbacks and worries, but we find ourselves on the verge of coming out a bit wiser, better prepared, and financially more focused than we were only a year ago.
As a mother of seven, I often discuss finances and security with my children. I also find myself doing the same with our employees here. These are important concerns to me, and it really should be no surprise to anyone who knows me that we might, on any given day, end up discussing what “your plans for retirement are” or whether “your nest egg is secure.”
It is not a coincidence that after 20 years in business as America’s Gold Authority®, our company is quickly becoming a popular choice for those looking to diversify their portfolios with a precious metals IRA. We’re committed to researching and developing the right partners, products, and systems needed to be one of the best in the business.
Is your portfolio diversified?
When you examine the assets you hold, you must consider how diversified your portfolio’s asset mix really is. Diversification is an important strategy to employ when constructing your portfolio. It can help grow your portfolio and minimize risk in ways you may not have considered by providing you with new areas of growth potential. Noncorrelated assets can also provide a hedge against market volatility. Both of these factors are important to consider when building your portfolio and making decisions regarding your financial future.
When building a retirement portfolio, a popular choice is to use an IRA. While this a popular retirement vehicle, many IRAs are limited to only traditional paper-based assets, such as stocks, bonds, and mutual funds. If you are looking to add additional levels of diversification to your portfolio, then you should consider the many benefits of a self-directed IRA.
There are many benefits of a self-directed IRA.
While traditional IRAs allow for stocks and bonds, these accounts exclude many assets that can further diversify your overall portfolio. Here are some assets not typically included in traditional retirement accounts: precious metals, real estate, water rights, oil and gas, livestock, and cryptocurrency. A self-directed IRA, on the other hand, can hold these assets. And there are plenty of reasons why you would want to.
According to the Corporate Finance Institute, “alternative assets” tend to show a low correlation with traditional assets, including stocks and bonds. Forbes highlighted on February 23, 2021, that self-directed IRAs have the benefits of more diversification and liquidity than traditional IRAs. These benefits could be especially enhanced by assets like precious metals.
Now is the time to consider using a self-directed IRA to hold precious metals.
Being able to offer a service to our clients that gives them the opportunity to help protect their nest eggs by rolling over or transferring a portion of their existing 401(k)s or IRAs into a precious metals IRA is something that allows us to use our core knowledge of the precious metals business along with our passion for wealth insurance.
With your finances fresh on your mind, the time is now to think about how you can benefit from diversifying with a self-directed IRA by holding assets like precious metals.