The stock market is a gamble, but one thing has always proven to be true and increase in value overtime: gold. This precious metal that we just can’t seem to get enough of has been a long-time favorite for those with a good chunk of money to invest who want to make sure their returns are almost guaranteed. Even then, the price of gold within the next 5-10 years seems to be more uncertain as the world continues it’s transition to digital currencies and people use tangible currencies less and less. But, in order to predict the future you first need to understand why gold is so well sought after.
Aside from the rarity of gold, this investment has shown to act counter to market crashes and financial downturns. Meaning when markets struggle, gold usually does not. In fact, gold is know to have stable and consistent gains with very small price fluctuations over time. Unlike other stocks in the market that can swing up and down and loss or gain hundreds of dollars of value within days. This means gold is a great investment for those wishing to simply invest, forget about it for awhile, then cash out at a later date.
Gold Predictions For Next 5 Years
According to Forbes, a well know business and investment publication, the price of gold as an investment will moderately increase within the next five years. The general thought is that their will continue to be large-scale international supply shortages due to the pause on manufacturing in 2020. These supply shortages will thus create panic and equate to tangible goods values increasing quite noticeably. In fact most gold predictions for next 5 years seem to hold this sentiment that gold prices will rise from todays prices of ~1,700 and ounce to well over $5,000 an ounce.
Gold Predictions for the Next 10 Years
Looking another 5 years down the road, speculators suggest that gold prices will continue to reap the benefits of the market panic. Whether or not the global supply chain is still experiencing disruptions is mute this far down the road. Instead, gold has a very static and long-running ability to carry a price and will therefore have a lot more momentum going into the next 5 years. Some experts suggest the price of gold will even surpass $10,000 per ounce within the next 10 years. So be sure to consider gold as part of your investment strategy and be ready to track gold prices 200 – 2020.
Gold prices within the next 5 years will likely increase by several thousands of dollars per ounce due to large-scale market panic caused by international supply chain shortages. Looking down the road another five years, gold prices will likely carry that market scare momentum well into 2030 where gold prices per ounce are expected to top and possibly surpass $10,000 per ounce. Therefore, gold may be a strong investment opportunity given that tangible goods along with property otherwise known as “real value investments” are solid bets over the next decade. Consider using a gold custodian in your IRA. Putting it in your retirement account can give you piece of mind long term.
The year 2020 was a prepper’s dream scenario: shortages of manufactured goods, spoiling foods and a crippled economy. It gave credence to their stern warnings about the danger of investors becoming too comfortable with the status quo. And it has also led investors in the era of pandemic portfolio building to consider a precious metals IRA option to secure their futures.
One of the premiere precious metals IRA companies is GoldCo. Rated A+ by the Better Business Bureau, the company sells investors accounts with a minimum $25,000 buy in as tax shelters that don’t fluctuate when the USD goes up and down with the inflation rate. Since the USD is based on the gold standard, many investors feel that the GoldCo fees are worth every…well penny they save.
Let’s Learn About Investing with GoldCo
Founded in the Golden State of California, GoldCo offers their investors a comprehensive non-cash IRA option. Not only selling gold, they trade in platinum, silver and other precious elementals. While they don’t control the entire process of storage and custodial services of the wealth (per IRS regulations, investors cannot keep tax free precious metals in a personal safe in or near their home–they have to be secured in a licensed and bonded facility), they provide concierge service referrals to partners that can be selected to store and act as custodial financial institutions.
This very important caveat is essential for prospective clients to fully understand as you read any online Goldco reviews. GoldCo functions as the broker facilitating the purchase of the metals, but does not handle the day to day investment management of the IRA fund itself that the gold or silver backs. This is in fact built into the tax laws as a protective mechanism to minimize investment fraud by the IRS. Prior to the company’s origin in 2006, there was little information available about the newly drafted Taxpayer Relief Act statutes that make a GoldCo investment possible.
Because of the volatile nature and daily changes to the valuation of the market price (often referred to as the Gold Standard), GoldCo posts daily market activity prominently on their website. Investors can track the value of gold, silver, platinum and palladium in real time, to see how their investments are performing. An added plus to purchasing the metals through GoldCo is that if an investor meets the $25000 minimum benchmark, all GoldCo fees are reimbursed to the investor in the form of an equivalent amount of silver. You should be aware that this silver is NOT part of the IRA fund, and is considered a cash based transaction which may be kept in a personal safe or storage facility of your choosing without designating a custodian.
One thing the pandemic has taught the free marketplace is that currency greatly depends on several factors: the Non Farm Payroll statistics (jobs that are not based in agriculture in the United States, the unemployment rate and the participation rate), the Gold Standard (the price per ounce of gold as a commodity) and the inflation rate (adjusted by the Federal Reserve to compensate for changing market conditions, which either raises or lowers the valuation of 1 USD). While many investors don’t want to take the time to become completely savvy about the ins and outs of securities trading in transactions like forex accounts, having a GoldCo backed IRA is a solid option that mitigates a substantial amount of the risks associated with a major investment.
Because gold, silver, platinum and palladium are finite resources (meaning that there is only a certain amount able to be extracted from the Earth, and man cannot easily manufacture more of these elements in a laboratory setting)? They are considered much more stable, and thought to hold or increase in value more aggressively than cash savings. Many investors choose to keep a portion of their wealth in coinage, although the company does prefer to offer the metals in bar form for ease of storage and transportation.
So how do you get started investing in a GoldCo fee for service IRA?
First, you create an account with the company and fund it with at least $25000 to receive the gift of the silver as a reimbursement. Due to the provisions of the Patriot Act, like any other bank account, you will need to verify your identity by providing them your Social Security Number (SSN), Then you select a custodial institution from the list they provide to manage your fund. Choose one that has solid projections and some history with precious metal accounts, as they function differently than cash accounts due to the less variable fluctuation in value. Then select your precious metal. The IRS permits citizens to hold their choice of gold, silver, platinum or palladium for this purpose.
After your fund is created, you can add deposits to it with additional purchases from GoldCo to expand your principal while you continue to compound interest. This, like traditional cash IRAs, is subject to penalties for early withdrawal from the fund, and any capital gains will have to be disclosed to the IRS at tax time.
If you already HAVE a traditional cash based IRA or Roth account, you have the option to convert the balance without a penalty to a metals based fund. However, you will have to assume responsibility for the GoldCo fee, the custodial fee and any storage facility fees incurred to house your investment. The conversion process generally takes around 2 weeks, which gives the company a nice window to ensure you get the most value for your money, as gold fluctuates daily. You and/or your beneficiaries are eligible to withdraw from your fund at the age of 59.5 years, as with a traditional IRA.
As the world continues to return to a new normal following COVID19, it is more important than ever to have a well rounded, robust and stable portfolio. Adding a gold based IRA to your investment options assures you a great return on the seed money, as well as pricing that continuously increases in value as demand surges for the finite resource.
As with ANY investment, there is an inherent amount of risk. Never invest more in any fund of any kind than you can afford to comfortably lose in the event of another major market event like COVID. Having options that also include other types of securities, commodities, and stocks in the manufacturing sector? Allows your investments the latitude needed to truly grow. All while giving the portfolio a solid foundation on the gold standard, the most essential piece of the USD valuation on a daily basis.
Consider talking with one of our financial advisors in a short company overview and discover how seamlessly integrated the communication and the investing process is. By offering our investing partners concierge level service worthy of the finest hotel, we make buying precious metals and putting away for a rainy day even easier than tying your shoes. With the clear disclosure of associated fees, investors can feel secure in the knowledge that their money is in expert hands with their GoldCo broker. A simple Google search of client reviews tells the same story–expert advice, reasonably priced, exceptional customer care before, during, and after the sale, AND continuous support throughout the life of your investment. We look forward to talking with you soon, about the many ways you too can successfully protect your family’s future.