Gold and Silver IRA

Posted: 7/1/2014 9:29:26 PM EDT

I have a Roth IRA at a local bank that has matured and I was thinking about transferring it to gold or silver IRA. The bank rates are around 1% here, and this is the no risk portion of my retirement savings. I realize the market will fluctuate some, but I don't see a massive slide either way. I'm just tired of getting next to nothing for $50,000. With the way things are going now I feel like gold and silver would be a very low risk solid investment. The rest of my retirement investments are invested in moderately aggressive mutual funds. I would appreciate any insight into a gold or silver IRA.

Posted: 7/1/2014 9:41:07 PM EDT

[#1]

I wouldn't.

There is no such thing as "no risk"

I can't give you any well thought out, logical, compelling arguments ... I just flat out wouldn't do it.

Posted: 7/1/2014 9:42:28 PM EDT

[#2]

Banks generally give the worst deals for investments. Look to other places. Get half a dozen or so consultations.

Posted: 7/1/2014 10:40:59 PM EDT

[#3]

I will agree with you Him, but I consider a bank to be VERY LOW risk almost to the point of none. I'm just looking to get into something with little risk, and preservation being the key. I like to have my investments spread like a spider web. I had a an awesome rate "for a bank" locked in for several years ago at 4.75% and then the last three years 1%. I consider this the proverbial money under the mattress and just want it to be there when I retire. I consider my Roth 401K mutual funds my rolling the dice money and hope I continue to do well with it, but you never know.

Posted: 7/2/2014 11:15:10 AM EDT

[#4]

What do you mean your Roth IRA has matured?

Posted: 7/2/2014 12:07:58 PM EDT

[#5]

My IRA at the bank is like a CD, it is for a certain amount of time. When the time has elapsed you can renew it for the current going rate or you can transfer it to another financial entity.

Posted: 7/2/2014 12:32:30 PM EDT

[#6]

We had my wife's at our Credit Union. We transferred it to Vanguard and had a bettter return in one year, than the three previous combined.

Quote History

Quoted:
My IRA at the bank is like a CD, it is for a certain amount of time. When the time has elapsed you can renew it for the current going rate or you can transfer it to another financial entity.

View Quote

Posted: 7/14/2014 10:15:34 PM EDT

[#7]

Set it up under Fidelity. Research the many gold and silver etfs and invest. They have etf's that follow the metal price pretty accurately(GLD, SLV, PSLV, etc.) or you could go into etf's that perform at 2x or 3x gold/silver(NUGT). They also have them for the miners.

Posted: 7/15/2014 11:11:29 AM EDT

[#8]

Stay away from PM ETFs. Many, including Australia's Perth Mint, has oversold. There has already been several (notably PAMP USA) that have declared force majeure and have paid its clients in currency instead of delivering PMs.

Posted: 7/16/2014 11:35:20 PM EDT

[#9]

Don't exchange fiat currency for paper "shares" in a computer somewhere, just to invest in silver. Silver is an investment you actually own. You can reach out and touch it. You can fill the entire rest of your portfolio with glorified IOU's and pictures of dead presidents that are losing their value every day. Silver is your hedge.

Posted: 7/18/2014 8:27:29 PM EDT

[#10]

You don't OWN anything if you are buying a fund that claims to reflect silver (or gold)
If you don't have it in your hands, you got nothing (that's been proven a lot over the last few years) in the PM market.

[ARCHIVED THREAD] - Gold and Silver IRA

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