Confused About Whether Investing in Silver is a Good Idea? Here’s Everything You Need to Know
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If you had any doubts about the popularity and growing importance of IRAs, now’s the time to correct them. Where the total IRA assets of the United States in 2000 were $2,407 billion—they reached to $7,850 billion in 2017. And the number only pushes further up.
And as the awareness about the significance of IRAs continues to grow, so does the interest in alternative or self-directed IRAs grow.
The Silver Lining
If there ever is to be a silver lining to retirement, it should be in the form of a silver IRA account. A customized IRA account with physical bars of silver and/or bullions—now that’s what we’re talking about!
It’s pretty much the same as any other IRA account, save for the fact that you have physical assets instead of paper ones. Not only are they great for diversifying portfolios, they also work great as inflation hedges.
Although compared to the more traditional options—stocks, funds, bonds—the silver IRA is less popular as of now, its benefits are far greater and will last you far longer.
You’re Completely in Control
With a self-directed IRA, you’re no longer at the mercy of brokers. You’re the one who decides what you’re sending inside your IRA account. Whether it’s hard assets or not, you’re calling the shots—and that gives you a better edge as opposed to when you open a traditional IRA.
Still the Same Benefits—and More
And yes, silver IRAs aren’t the same as traditional IRAs, they still have the same benefits. You get all the taxation benefits with a silver IRA account as you get with a traditional IRA account.
Your assets will be handed to you free of tax when you retire. The only catch is the limit that’s applied to these accounts by the company you choose to work with or by the IRS.
But there’s more to silver IRAs than the same old traditional benefits of being able to save tax-free: it’s less volatile than stocks and funds and can earn you a bigger premium when you decide to sell it later on.
Bite that (Silver) Bullet!
Although there are chances that silver might devalue overtime, history shows us that the prices of silver have always gone up.
Where paper currency falls, silver doesn’t. It’s also cheaper than gold, which means that you can buy and store it more easily.
You also have a lot of options when it comes to this versatile, amazing metal: you can, for example, choose between bullions and bars.
For more information, come talk to us at Orion Metal Exchange.