Author: Gold News Club

Retirement. For many, it is the final prize after a life of hard work. People get a retirement date in mind a few years in advance. They draw up plans as to what hobbies they’ll finally indulge in with their newfound time and where they’ll live. They monitor their nest egg cautiously, watching with a combination of pride, excitement, and nervousness as they consult advisors, friends, and family.

However, sometimes a recession happens and can throw all that retirement planning out the window.

After the market crash earlier this year, I talked to many people who expressed their concerns about what could happen if a recession were to throw off their retirement plans. “What if this was when I planned to start my retirement?” I’m willing to bet many Americans’ retirement plans were altered by this recent recession. If their portfolios were hammered, or if their jobs were furloughed/eliminated, it’s easy to see how the recession could have thrown more than a wrench into careful planning.

History has shown how market crashes can injure a retirement plan.

In the previous recession, traditional retirement vehicles suffered substantial losses. According to Forbes, 401(k)s and IRAs in the United States lost around $2.4 trillion in the last half of 2008. For people living off of those retirement vehicles, this was a substantial shock.

The story of the 2020 economic crash is still being written, but there are already signs of how it has affected retirement plans. The Dallas Business Journal reported that 32 percent of residents in North Texas alone pushed out their retirement timelines after events earlier this year. Many people have been laid off into “early retirement,” not as comfortable as they had hoped or planned.

Many economists still forecast that it will take several years before the global economy is back to where it was at the beginning of the year. Perhaps the worst is behind us now, but there is a clear lesson.

When planning for your retirement, keep wealth protection in mind.

While history has shown us the consequences of these events, it has also shown us a possible safety net: gold. In the aftermath of the 2008 crisis, gold went up to record highs the following years. Gold has also experienced a similar rise after the latest market crash.

Hedging against a market maelstrom can be helped with precious metals. Specialized portfolios like gold IRAs can help give peace of mind when planning for retirement. When planning your retirement, why take unnecessary risks when you could reach for additional peace of mind.

The post Retiring in a Recession appeared first on U.S. Money Reserve.

Cash and gold—two tangible assets you can hold in your hand and know that they mean something. Is one asset more powerful and longer-lasting? Learn why it might be a good idea to turn some of your cash into gold and how to do it.

Why Turn Your Cash into Gold?

When it comes down to paper money versus gold, there’s a treasure chest of reasons to consider converting a portion of your cash into precious metals. Here are four of them.

1. Gold might be better than cash at preserving wealth over the long term.

Interest rates remain low, meaning that your money in the bank “earns virtually nothing,” CNN Money reports. When you take inflation into account, cash might actually decrease in value over time.

Gold, however, has long been seen as an excellent way to hold something meaningful and diverse over the long run. It’s earned a reputation as a safe haven from volatile asset categories.

Compared with the stock market, where even the biggest blue-chip companies can and have failed, buying gold “often seems less risky,” Adam Vettese, market analyst at investment platform eToro, told CNBC.

2. Gold can boost stability in a cash-heavy portfolio.

Over the long term, gold has proven to be a sought-after medium of exchange.

For nearly a half-century, the U.S. has operated with entirely paper-based currency. Gold, however, has been a global form of currency for more than 5,000 years. King Croesus of Lydia (modern-day Turkey) ordered the first gold coins to be struck around 550 B.C.!

“What people look for is something that’s an insurance policy, an asset that holds its value in times of trouble,” says Avinash Persaud, a senior fellow at the Peterson Institute for International Economics. “You don’t want uncertain reserve assets.”

Whereas cash might be an uncertain asset, gold could be viewed as anything but uncertain, given its longevity.

3. Gold is not a fiat currency like the dollar or euro.

Government-issued currencies circulating through the world’s economies are known as fiat currencies. A fiat currency gains its value from the government that produces it. A nation’s central bank can greatly affect the value of its currency through policies, regulations, and by printing more of it. By contrast, a nation’s central bank cannot tinker directly with gold’s trading price (but they sure can buy a lot of gold).

Because of gold’s relative rarity, its market value has been supported over time. Gold enjoys a long track record of purchasing power.

4. Gold is considered a good hedge against inflation.

Inflation, the rising cost of goods and services, can decrease the value of paper money.

“High inflation decreases purchasing power and undermines the value of money. Low inflation, however, suggests a dramatic collapse in the price of goods, which restricts spending and could trigger deflation and a broader recession,” writes John Rothans, Chief Procurement Officer at U.S. Money Reserve.

Inflation has not, however, had the same detrimental effect on gold. Compared with financial assets, gold is a “real” asset that lacks credit or default risks, and the yellow metal is actually lifted by high inflation, according to the World Gold Council.

How to Turn Your Cash Into Gold

It’s not difficult to buy gold. It might be difficult, though, to figure out where to directly convert your cash into gold. What follows is some information that can help with this decision.

One path you can take is buying gold at a local store. Advantages include being able to touch the gold and carry it out of the store once you’ve purchased it.

But buying gold locally can come with potential disadvantages. For instance, you might wind up paying a hefty price because you’re supporting the brick-and-mortar overhead of a gold dealer. You also might be hit with local sales taxes or find a limited selection.

Or you could choose to buy gold online or over the phone from a precious metals company like U.S. Money Reserve. Benefits include the ability to:

• shop when it’s convenient for you,
• speak with knowledgeable Account Executives,
• shop in private from the comfort of your home,
• browse a broad (and sometimes exclusive) inventory of gold coins and bars.

At U.S. Money Reserve, we also offer multiple ways for you to purchase physical gold, whether through a credit card payment or a bank wire.

Whichever route you pick to convert a portion of your cash into gold, do your homework. Search the Internet to ensure that the seller is legitimate, check out the seller’s online reviews, and look for ratings from nonprofit consumer groups like Business Consumer Alliance.

Take the next step in moving cash into gold. Call U.S. Money Reserve to learn more about our inventory of gold coins and bars.

The post Should I Turn My Cash Into Gold? How to Do It & Who to Call appeared first on U.S. Money Reserve.

Kitco News

(Kitco News) – The gold market, as it continues to hold critical support, above $1,900 an ounce, is in no danger seeing its current uptrend ending anytime so according to one investment firm.

The post A scenario to end gold’s bull run looks increasingly unlikely – Invesco appeared first on WorldSilverNews.

“”silver price”” – Google News

Silver Price Analysis: XAG is flirting with $27 but the technical structure still stands  FXStreet

The post Silver Price Analysis: XAG is flirting with $27 but the technical structure still stands – FXStreet appeared first on WorldSilverNews.

Kitco News

(Kitco News) – Gold and silver prices are higher in midday U.S. trading Wednesday. Gains in the metals are seen despite a solid rebound in the U.S. stock market.

The post Gold, silver gain as early losses seen as buying opportunity appeared first on WorldSilverNews.