A recent estimate, put the number of people, in the United States, holding precious metals at between 3% and 9% of the population.
The major reason given for the low take-up, is simply a lack of understanding of why you might need precious metals, their purpose, where to get hold of them, and where to store them.
Where do you start, when you don’t even know anything about the subject?
Not investing in things like gold IRAs, and 401(k)’s, because of a lack of understanding, and not having the confidence to start, is like going to sea without a lifeboat. These are things that everybody should have in their financial arsenal – in such uncertain times you owe it to yourselves and your family, to investigate this a bit further.
One of the major issues in dealing with any form of investment – especially precious metals – is who to trust when it comes to advice. This is especially so if your knowledge of the industry, the way that it markets itself, and the way metals are sold, is a bit of a mystery to you.
The advent of the internet, has raised as many issues as it has solved when it comes to honesty and integrity. Type “Gold IRA” into Google, and you will find 726,000 results.
How do you even start to narrow this down?
We believe that the information is out there – and that it is up to the investor to do their homework before they approach an advisor. This is nowhere near as difficult as it sounds and we are going to give a couple of examples of how such information, which is freely available, can help you to judge the timing, and the best ways of investing, in a gold IRA, going forward.
Let’s start with one of the public broadcasters – CNBC – which, according to their website “ … provides real-time financial market coverage and business information to approximately 385 million homes worldwide, including more than 95 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China.”
Last month, unnoticed by many, Daniel Pinto, the co-president of JP Morgan Chase, appeared in a video on the CNBC website, and spoke of a possible deep correction for stocks, totaling as much as 40% over the next few years. JP Morgan Chase are the sixth-largest bank in the world. What they do not know about money, and money management, is not really worth knowing.
They have a vested interest in promoting stocks and bonds, both inside and outside, of their own retirement plan products. So when one of their senior management team highlights something like a potential 40% fall in the value of stocks – it is time to sit up and take notice.
This is no salesman telling you that stocks are going to nosedive. There is nobody twisting your arm to do anything about it. But, now you are at least aware of a potential problem – and you need to find out what to do about it.
News Now is another great source of worldwide up-to-the-minute news, it takes in gold, precious metals, and many other financial sectors. The site is easy to navigate – and it is even possible to customize a homepage to give you just the news from those financial areas that you are interested in.
Just scanning the headlines for five minutes, gives you information which you will find invaluable when considering investments. News Now Is not just one source of information. Their input comes from thousands of different sources, and hundreds of different countries.
There is no secret knowledge in this. These are just two sites which can be easily visited, for just 10 minutes a day, to enable you to find out what is going on.
Nobody needs to be an expert. Nor do you need a specialist economics degree to understand.
You just have to pay attention to what is going on. This is the link to News Now’s gold news section. A quick five minute scan of the headlines, just a couple of times a week, is all you would need to see what is happening with precious metals.
Why bother?
Most people are caught out by scams, or dishonesty in their dealings because of a lack of knowledge about what they’re dealing with. History is littered with Bernie Madoffs and Michael Milkens. These people, and others, preyed on the ignorance of their clients and customers.
But it isn’t just scammers that you have to watch out for. Many people paying into their retirement plans, 401(k)s, don’t have the first clue as to where their money is going, what it is invested in, what charges are being made against their account, or what the tax implications of drawing their money down is, until they retire – and then it’s too late.
The large financial institutions exploit the ignorance of investors too. They rely on the fact that the majority of their customers will not read the terms and conditions, margin rates, interest charges, penalty charges, commission rates, and the myriad other things that appear in the 50-page documents that they send out, or post online.
This is the problem with most of us – we do not have time to keep up with all that is going on.
This is where an advisor like Noble Gold comes in. Their full-time job is to keep up with all that is happening within the relevant markets, assess all of this information, and, use this, to gauge the right degree of investment that a client should make, given all of their circumstances, and their views on investment and savings.
They have helped hundreds of clients over the years, with all aspects of precious metals investing. As well as IRAs and 401(k) rollovers, Noble Gold advise on storage facilities – including their exclusive, Texan depository facility – survival packs for financial protection in disaster, or war – as well as coins, and bullion of gold, silver, platinum, and palladium.
But, no matter how good the broker, or consultant, or advisor, or salesman, if you do not find out the basics, and do some homework, you will not get the best from the experience.
To summarize; if you are thinking of starting, or even just looking at gold or silver IRAs, you should do two things.
Firstly, you should read up on gold and silver investing in financial papers, magazines and TV programs. This will help you to understand some of the terms and concepts you will come to talk about with your advisor. It doesn’t have to be heavy stuff like the Economist or the Wall Street Journal. Just something to get your brain into financial mode.
The second thing you need to do, is to find an advisor to deal with buying your gold, organizing your IRA, or 401(k) rollover, and getting all the associated paperwork sorted out for you. They can also advise you on fees, costs, and those all-important tax advantages, and how you can utilize them. There are plenty of recommendations here on our website – or you can always take your chances with the 726,000 Google results….
