Even though the elections were over, it is safe to say that an economic frankenstorm’ is still looming. You will find many people are concerned about their work, retirement accounts, and ability to meet basic needs. On ira gold maine you can learn more.
The news can make people even more anxious about the future, so they tend to turn to the news to get the latest. This is one reason why precious metals, and gold IRA rollover account are so popular. This is a great opportunity to learn about gold-backed investments.
Did You Lose your Job in the Last 60 Day or Are You About to Lose It?
Many companies are laying off workers to reduce the need to purchase more health insurance. Needless to state, this will place a tremendous amount of pressure on consumer confidence during holiday season. The 60-day grace period for transferring your retirement account to another holder is unusually long after you lose your job.
An employer will not be required to approve a transfer to a precious metallics IRA. Instead, an independent broker can set up and manage the account. Transferring your existing investment will not only protect it, but you will also avoid any penalties. Individuals who fear losing their jobs will be able to make the same level investment in a precious metal, or gold IRA.
Retirement Savings Accounts to be wiped out
Do you remember the moment you got home from work to find that the value of your IRA was now only 60% of what it was one day earlier? It is likely that you were shocked to learn that you had lost all of your life savings in just hours.
As time went by, you discovered that there was no way to get the money back except to try to invest in risky paper market that were equally as doomed to failure as the “blue stock” markets. However, you might also have noticed that precious metals in your 401k survived the downturn and continued to rise in value even when the world economy crashed.
Today, a gold 401k can provide you with peace of mind that its value will, at worst, remain the same and, at best grow at a faster clip than paper stocks.
About Currency Valuations
It is possible to trade with Russia, China, Iran, and Russia without US dollars. Did you know Japan also plans to trade with China using another currency than USD in the future? If you haven’t heard of this or don’t understand the implications, it could be time for you to wake up.
Since the US dollar is losing its value around the world, US spending power within and outside of the US will continue falling. As can be expected, the de facto dumping of the dollar will also cause problems with paper-based retirement plans, stocks, bonds, and savings accounts.