Has the current financial climate practically scared you to death? In one instance, the economy is booming and investments are making money left and right. And then the coronavirus pandemic hits and all hell breaks loose. Suddenly, the stock market loses 40% in a few weeks and unexpectedly your investments aren’t looking as healthy as they once did.
Thankfully, the stock market has more than recovered at this point and it’s currently above where it was in early 2020. But at the same time, there was another very lucrative investment quietly earning gold IRA account holders very hefty returns.
Yes, I’m talking about investing in gold for your retirement. There are so many benefits and advantages to this investment style that it’s hard to keep up with them all. But I’m here to tell you that this wonderful investment is more than meets the eye. And if you’re willing to pay attention for a moment, I’ll tell you about the biggest gold benefits that you should be experiencing as a gold IRA account holder.
Are you ready to discover the truth? Stick around to learn about the main benefits of gold IRA accounts now and in the future.
Gold IRA Benefit #1: Inflation Becomes a Thing of the Past as a Gold Investor
Have you ever dreamed about no longer experiencing inflation? While this is technically impossible to avoid, there is a way to continue to increase your net worth even when the US dollar becomes less valuable.
How so? The way to do it is to begin investing in gold. And the smartest way to invest in gold is through a gold IRA.
Believe it or not, the price of gold tends to go up along with inflation. So, when inflation gets worse and it costs more money to pay for goods and services, the value of your gold is also going to rise in tandem.
As an example, when the economy crashed in the beginning of 2020 because of the coronavirus pandemic, we began to notice prices started going up at the grocery store. And within the past year, the price of gas, groceries, restaurant food, furniture, and other goods and services have become quite a bit more expensive.
Guess what else?
In early 2020, the price of gold was around $1200 per ounce. Right now, the price of gold is almost $1900 per ounce.
Do you recognize the correlation? As the price of goods and services – inflation – continue to rise and cost Americans more and more money, gold investments also became much more valuable.
So, you can never avoid inflation altogether. But you can invest in gold and make your money more valuable right along with inflation, so it’s almost like you can finally make inflation a thing of the past once and for all.
Gold IRA Benefit #2: There Is a Huge Demand for Gold Right Now
Most people don’t know this, but according to RolloverGoldIRA.com, serious investors, corporations, and even the richest and most powerful countries in the world love to stockpile gold.
Why is this important to them? They realize that gold is the most valuable currency in the world. They realize that it’s acceptable in every country on earth. So, having gold means having the ability to buy goods and services no matter where you are in the world.
Do you know what else owning gold means? It means having power in a society that keeps most people powerless. Because owning this extra special precious metal gives you the power to live wherever you want to live in the world, pay for whatever you need to buy, and ultimately continue to live your dreams.
Another great benefit is that the more countries like the US, China, and Russia buy gold, the greater the value will be. This huge demand means the price of gold will continue to go up because so many people are clamoring to buy it.
And the best part…
This investment is way more stable than cryptocurrencies. They had their day in the sun, but if you’ve been paying attention that market crashed and burned big time in the past few months. Gold will fluctuate in value for sure, but it’s never going to take the huge swings that cryptocurrencies have taken in recent years.
The main countries who have a huge stockpile of gold include:
- United States – 8134 tons
- Germany – 3367 tons
- Italy – 2451 tons
- France – 2436 tons
- Russia – 2219 tons
- China – 1936 tons
- and many more countries
As an investor, it’s great to see the most powerful countries in the world take such a major interest in gold. This bodes well for your gold IRA because it proves that your investment will continue to earn money for many years and decades to come.
Gold IRA Benefit #3: The Tax Breaks Are Unbelievable
Finally, I want to tell you about the amazing tax breaks that a gold IRA provides, because I decided to save the best for last.
You might be wondering, “What kind of tax breaks will I get by opening a gold IRA account?”
The tax benefits are pretty simple. You can either take advantage of tax-free investing or tax-deferred investing, but this all depends on how you open your retirement account. And you only get to take advantage of one of these tax benefits and never both at the same time.
Tax-free investing means you will fund your gold IRA account using proceeds that you already paid the taxes on. As an example, let’s say you decide to use the money from your weekly paycheck and put some of it aside each week into your gold IRA account. This money was already taxed if you set it up that way, and anything you earn in this account afterwards is yours to keep. You’ll never have to pay taxes when you begin taking distributions.
Tax-deferred investing means funding your account using pretax dollars. This lowers your yearly taxable income and means you have more money available to deposit into your account. Many people like this method because they get to grow their account quicker, which certainly has its benefits.
The Last Word
As you can see, there are many advantages to opening a gold IRA. The tax breaks, inflation protection, and popularity of this investment are reasons enough to begin investing in gold. Do yourself a favor and open a gold IRA account quickly because you’re missing out on a tremendous opportunity.