Did you know that gold has appreciated in value by over 700% in the last two decades? If you take a look at https://www.gold.co.uk/gold-price/10-year-gold-price/ the numbers are clear: gold can be a very wise investment choice.
Naturally, many investors are thinking about investing in gold as part of their retirement plan. Realistically, all investments carry their pros and cons but some do see gold as a generally safe option. So, if you were interested in investing in gold as part of your retirement plan, how would you go about doing so? Let’s look at three of the main ways:
Invest in a Gold IRA
One option is to look into investing in a gold-backed individual retirement account (or IRA). If you are keen for gold to fuel your investment, then this is a perfectly viable option-just be warned there are some particular rules to follow.
The IRS only allows 24 karat gold bullion bars and gold to be included in gold-backed IRA’s. This gold must.be administered by an IRA custodian and stored at a location they have approved. You are not allowed to store any at your own property.
Invest in Gold Stocks
Anyone can invest in gold stocks, so ignore the often circulated myth that does the rounds saying only investors can!
You might think investing in gold stocks is only for investors who are deeply entrenched in the stock market, but the fact is that anyone can invest in gold stocks. You’ll of course have to carefully decide which gold stocks to invest your money into. Stocks need to be monitored carefully, so you can develop s picture of what should be left off and what should be kept going.
Invest in Physical Gold
And of course, one of the most obvious ways is to invest is by purchasing physical gold. This gold will usually be brought in the form of a gold bar or bullion coins. With this method, it is essential you research a respectable dealer-I’m sure you can guess why that is! You’ll also need to work out a safe place to keep your investment.
If you are new to these concepts you absolutely must do your research. You must be aware of all the options and how best you can go about investing for your all-important retirement.