Being financially prepared for retirement with an adequate emergency fund and insurance coverage is a vital step to take way before your retirement years.

Many people have their apprehensions towards the volatile stock market and prefer to invest in a precious metal IRA. If you choose to add old and silver in your retirement assets, the pot of gold at the end of the rainbow seems to be the perfect metaphor.

What is a Precious Metal IRA?

It’s risky to entirely invest in assets like property, stocks, and bonds. When the economic cycle busts down, you may lose a significant part of your investment portfolio.

A precious metal IRA, also called the Gold and Silver IRA, is a retirement saving account that allows you to have complete control over your physical gold and silver.

If you choose to go for a self-directed IRA, you can enjoy a range oftax benefits and drive your secure financial future toward significant savings in gold and silver coins and bars.

In this blog, we provide you with 5 benefits of adding gold and silver to your retirement assets.

1.    Insurance

Owning gold and silver holds importance when compared to paper assets. For instance, if you hold a certain amount of stocks in a company and go bankrupt, your shares will be worth zero.

It’s not the case with physical gold and silver. Since it’s precious and rare, they won’t go out of business and never fall to a zero value. Gold also serves as protection against inflation as gold prices usually have an upward trend.

2.    Diversification

Rule number one when it comes to investment is to diversify. Therefore, adding precious metals can be among the best choices as they protect you from the financial shocks that the economy may go through.

You don’t want to own just one kind of asset and risk all your wealth on it. By adding physical gold and silver in your, IRA can increase your chances to survive during turbulent global market conditions.

3.    Potential for Growth

Most IRAs have stocks, mutual funds, and shares. They’re dependent on the economy, for good and bad times. If the economy busts, so do your IRA. This same instance can increase your precious metals’ value – a safe haven in volatile economic times.

4.    You Have Control

Self-directed IRA means that you have complete control over your assets, and you’re not bound to own any traditional asset like stocks and bonds. You’re also not restricted to a pre-set asset. Precious metal IRA offers you own gold and silver, and you’ll be in control of the gains and losses. There’s no alternative to adding gold and silver to your retirement asset.

5.    Tax Benefits

Given the tax bracket you fall in, your self-directed IRA can be claimed to be tax-deductible. The profit from your precious metal is not taxed until your cash is distributed to the taxpayer.

It’s smart to get a precious metal IRA to secure your future after retirement. If you’re looking to open a gold and silver IRA, start by saving precious metals in your account at Orion Metal Exchange. We help you purchase precious metal bars and coins. Our precious metal custodian services and secure vaults will ensure that your financial future is secured.