All of us would like to know that our retirements are safe in terms of financial stability yet often we will leave that financial stability to the whims of the stock market. The stock market is something that many people invest in and often they can do quite well however there are many stories about how people lost all their savings on the stock market and so it is perhaps not somewhere where we should trust our savings for our retirement. It is true that people do make huge profits off of stocks but more often than not, people also lose a lot of money and our retirement savings are not something with which we should be gambling. A far better investment for the long term like a retirement is in precious metals like gold as those have a far less tendency to drop drastically in value and traditionally, over a period of time, always redeem any value they may have lost and increase.
IRAs are what a lot of people choose to invest in for their retirement and this is not surprizing as IRAs offer a lot of tax benefits but what perhaps not everybody realizes is that there are such things as gold IRAs.
Regular IRAs rely on investing in the stock market and although is often a good way to get a reasonable return, those people that retired in 2010, during the last financial crisis found out that that is not always the case. The people that retired in 2010 and had their savings all in regular IRAs, about 75% of all retirees, found that they received very little for their many years of saving and that they would face a very uncertain financial future during their retirement years. Those with gold IRAs though, felt little disappointment in their savings as gold and other precious metals are not linked to the stock market or even one particular currency, their worth is an international value, one that is independent of any one stock market or currency.
With gold IRAs, when it comes to physical gold options they are ones of your choice, you can decide to invest in bullion, by the ounce or even in coins. There are however certain gold investments that are prohibited for IRAs but those are limited to rare gold coins or perhaps certain collectibles. Although called gold IRAs, investments are allowed in other precious metals should you prefer. Gold IRAs have the same tax benefits as regular IRAs and yet are considered far safer investments, over the long term, than regular IRAs.
Although some people are now choosing gold IRAs over regular IRAs, many opt to keep some of their existing IRAs and just switch some of their savings to gold IRAs and in doing so, ensure that at least some of their retirement savings are safe whilst hoping that the rest will perform very well and give them more than they had perhaps planned for but either way, they will not lose everything.