As the results of the recent elections become clear, it would be fair to state that an economic “frankenstorm”, or ‘frankenstorm’, is in full swing. Talking to friends will reveal that most are worried about the future of their career, the state of retirement plans, and even the basic necessities. Read more now on top gold IRA companies
Unfortunately, reading the news only makes people more concerned about the coming future. There are many reasons people choose precious metals or gold IRA accounts to protect themselves from certain catastrophes. Learn more about the gold-backed investment if this is something you haven’t done before.
Are you losing your job or about to lose it in the next 60 days?
As you might be aware of, some companies are already terminating workers so as to not have to spend any more money on their health insurance. Undoubtedly, the confidence of consumers will be affected during holiday shopping. You have 60 days after losing a position to transfer ownership of your retirement plan to someone else.
When you move to a metal IRA you do not need an employer. This can be done by working with an independent gold backed IRA brokerage to administer the account. In addition to protecting your investment, there are no penalties for transferring it. The same protection is available to individuals who believe they will lose their jobs. They can make an investment in a precious-metal or gold IRA.
What to do about retirement savings accounts that are being depleted
You may remember that day when you arrived at your job and learned the value in your IRA dropped to less than 60% of what it was the day prior. It’s likely that your initial shock at learning you had lost everything was due to the fact you found out in just a couple of hours.
You soon discovered that the only way to recover your investment was to try to make risky investments in the paper market, but these were also doomed for failure just like the blue stocks. Contrariwise, portions of the 401k that were dedicated to precious-metals survived and increased in value even though the world economy was falling apart.
Even today, you can invest with confidence in a gold-plated 401k knowing its value at the very least will remain stable, at best will increase faster than that of paper stocks.