Right now, it’s the perfect time to begin investing in a gold IRA. Why? This hot commodity is on the rise over the past two years, and in greater truth, it’s been slowly but steadily gaining value for the past 50 years or more.
And that’s my kind of investment.
I prefer putting my money into a gold IRA because I know that this account will continue to grow over time, creating a valuable and healthy nest egg for me and my family.
Doesn’t that sound wonderful?
IRA investing provides major advantages that you do not get with other investment vehicles. There are tax benefits, trends working in your favor, and other amazing things that make the value of gold continue to rise.
Guess what? It’s even an amazing hedge against inflation. And supplies are limited, which means the tremendous demand continues to help the value of gold and other precious metals grow throughout the years.
With that said, I’d like to share the advantages of gold IRAs with you below. Keep reading to find out more about this incredible investment.
Gold IRA Advantage #1: Gain Access to 2 Tax Breaks through This IRS Loophole
Did you know that an IRS tax loophole exists for gold IRA account holders? I know it’s hard to believe because I had a tough time believing it at first too. But everything that I tell you is true, and it’s absolutely amazing to help you maximize the amount of money you make in your retirement account.
How does the loophole work?
In all honesty, the loophole is sort of like two loopholes that exist depending on how you set up your particular gold IRA account. You either get to take advantage of one loophole or the other, but you can never use both at the same time.
What are these loopholes you keep speaking about? They include tax-free investing and tax-deferred investing, and you can take advantage of one of the other based on the way you first set up your gold IRA account.
The major benefits of a tax-deferred account are that you get to lower your taxable income each year, and you get to invest with pretax dollars. This is great, because you get to maximize the amount of money that you put in your IRA account each year without hurting your average yearly income too much because you avoid paying taxes for the time being.
In the future, when you reach 59 ½ years of age or older, you can begin taking distributions. Only then will you have to start paying taxes on this income. And you will have to pay your taxes based on the going tax brackets at the time of the distribution itself.
You never know… The tax brackets might be different than they are right now, which means you could potentially pay fewer taxes on this income in the future, which is totally amazing in my opinion.
And the other advantage is the tax-free gold IRA account. In this account, you’ll set it up so that you fund the account using money where the taxes were already collected on it. So, anything that you earn in this account is yours to keep when you begin taking distributions in the future.
Personally, I prefer setting up my gold IRA account this way. So, by the time I begin withdrawing money from the account, I’ll know exactly how much I get to keep, spend, and use to support myself in retirement.
Gold IRA Advantage #2: Gold Is an Amazing Hedge against Inflation
You may or may not have heard about this, but gold is the perfect hedge against inflation because the two typically tend to move in opposite directions.
As an example, let’s say that inflation is going up – and unfortunately this is true because the price of gas, groceries, and other goods and services has risen tremendously since the new president took office.
Do you know what else has happened over the past six months? The value of gold is nearly topping $1900 per ounce. And it will continue to rise in value as long as inflation continues to go up, because as I said, the two investments tend to move in opposite directions.
Inflation unfortunately isn’t going away anytime soon. And this makes gold IRA investing an incredibly lucrative opportunity to take advantage of right now. Because as inflation gets worse, the value of your dollar will not go as far. But you can stop the bleeding by investing in gold, silver, platinum, and palladium – all investments that are inflation busters!
I don’t know about you, but I freaking hate paying inflation prices. I hate paying $.85 more per pound for my favorite red grapes than I did a year ago. I hate paying an extra $.50 for a gallon of milk at the grocery store. And I personally did something about it. I invested in gold and continue to grow my net worth to beef up my retirement account for the future.
Gold IRA Advantage #3: The Gold Demand Is Tremendous Right Now
You may not know this, but certain countries continue to buy tons of gold every year. And even more important, major first world countries tend to stockpile gold by keeping thousands of tons on hand at all times.
The biggest countries that regularly invest in gold every year include:
- The United States has 8134 tons of gold
- Germany has 3367 tons of gold
- Italy has 2451 tons of gold
- France has 2436 tons of gold
- Russia has 2219 tons of gold
- China has 1936 tons of gold
- and the list goes on and on
Why all these countries stockpiling gold? The world economy is in a precarious place right now and world governments prefer having gold on hand because it’s the most valuable commodity in the world. They’ll still have the ability to cover their debts and keep their country financially solvent even if their currency suddenly collapses.
You should follow their lead and begin investing in a gold IRA account real soon.
Clearly, there are many advantages to opening a gold IRA. You’ll hedge your bets against inflation, experience tremendous tax breaks, and follow the lead of the most powerful countries in the world.
Does this seem like a good investment yet? It certainly should, and I hope you’ll take my advice and open a gold IRA to secure your retirement nest egg today.