Rising financial uncertainty, along with a slew of geopolitical and economic threats, is fueling fears that a market correction may be closer than we realize. Looking at past corrections when stocks go down, gold has proven to go up—making it an ideal portfolio diversifier. With the tax deadline right around the corner, discover the benefits of a gold-backed IRA.
The Golden Key to Your IRA- Video Transcription
Patrick Brunson: 00:01
There's a lot of discussion about the potential of a major stock market correction taking place here in the very near future. When this correction happens, history, it tells us that gold and silver typically go up in value, especially when the dollar is coming down. The record high for gold was after the 2008 recession when gold hit over $1,900 per ounce. However, during that time, your average IRA, 401k 457 or even a 403 B that was invested in stocks, bonds, money markets, and even mutual funds lost a significant amount of their values. And right now, odds are your retirement, no matter where it's at, it's probably attached to those same equities as well. If those markets correct or even crash, it's plain and simple. You lose. No bailout, no FDIC protection, no redo's or start overs. Plain and simple. You lose the money and the purchasing power of those retirement assets during corrections and recessions. And unfortunately, these recessions are happening more and more regularly now and have become a normal part of our economic cycles.
Patrick Brunson: 01:08
The problem is most people don't know how to protect their retirement from these recessions, but there are options. One avenue that many are discovering to protect their money whenever we do go into recession, is what's called a self directed gold backed IRA. You can roll over these funds with no tax consequences into any precious metals IRA. This will mean that your retirement will actually be held in gold and other precious metals as opposed to being in declining paper dollars, getting you very minimal returns. That is one of the biggest benefits. But the other is that these accounts, they have no brokers or advisers, so it's literally the least expensive retirement account available right now. So your money would actually be transferred and then use to buy physical gold and silver held in your IRA. Now keep in mind some companies have promoted a program of holding your gold at home in your IRA.
Patrick Brunson: 02:05
However, the IRS has stated that this program does not comply with the letter of the law Kingdom Trust, for example, a large provider of ‘hold your gold at home' IRA's, has recently sent their clients a letter stating that they must move their metal into an IRS approved depository and they must do it now. So make sure you're careful should someone offer you that particular option. Should you choose to hold physical metals at home legally and regularly, there are options for you to do that as well. But the bottom line is you can put gold and silver in your IRA by simply rolling it over. It's just a simple transfer and U.S. Money Reserve will actually pay for your setup cost for you. So if you'd like to get more information about setting yourself up with a gold backed IRA, you can reach U.S. Money Reserve by calling the number on your screen or you can click on the link below and one of our experienced account executives can get you started or answer any questions that you might have about this service. You can also get U.S. Money Reserve's, latest report, ‘the gold IRA protection in the risk zone'. It's got a lot of great information about the benefits of a Gold IRA pre and post retirement and how it can protect your nest egg from the years and the recessions to come. If you're watching this from YouTube, please subscribe to our page so you don't miss a single episode. I'm U.S. Money Reserves, Patrick Brunson, and as always, thank you for watching Market Insights.