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According to statistics, 66 years is considered the “full retirement age” in the U.S., with men retiring at 59 years and women retiring at 60 years of age.

But regardless of your age, it’s important to figure out your finances so you can lead a comfortable life after retirement.

While paper money has its own value, if you want financial stability even after retirement, investing in gold, silver, and other precious metals is the best way to achieve it.

Here are a couple of reasons why:

Gold and Silver Offer Excellent Liquidity

The demand for gold when it comes to technology and jewelry has been increasing since December 2019.Due to the Coronavirus pandemic, gold prices have surged further. The prices have sky-rocked above $1,642 an ounce and are said to increase in mid-April as well.

One of the best things about gold and silver is that they offer excellent liquidity. This means that you can easily convert gold and silver into cash when you need it. Plenty of investors buy gold and silver bullions and coins, and later convert them to cash.

You’ll Get Better Tax Benefits

While paper money and stocks do look good on an investment portfolio, especially if they’re short-term investments, in the long run, gold and silver can get you better tax benefits.

The capital gains tax you’ll have to pay when you sell gold is relatively lower compared to other precious metals and currencies.

It’ll Help Create a Diverse Investment Portfolio

One of the reasons investors purchase gold and silver bullions and bars is to diversify their investment portfolio.

Stockpiles and governments from around the world invest in more than forty percent of their country’s gold production. In addition, gold jewelry accounts for fifty percent of a country’s annual production.

In addition, one of the perks of investing gold is that it will help you hedge against inflation. It’s a rare precious metal and preferred over silver during economic instability.

Just take a look at the Great Depression and the stock market crash of 1929. President Roosevelt’s decision to remove the Gold Standard in the U.S. at that time helped curb the worst effects of the crash.

At that time, when the dollar was strong but less valuable, the government introduced gold into the economy.

This offered temporary relief but after some time, stopped working as people were panic-buying gold. Introducing other precious metals such as silver helped for some time.

What can we learn from this?

Investing in precious metals earlier on is a great way to create a strong investment portfolio.

With the Coronavirus rapidly affecting the world’s economy negatively, it’s become essential to invest in precious metals such as palladium, silver, and gold.

Since precious metals can be converted to cash later on, investing in them before retirement is a good way to maintain financial stability.

If you’re looking for gold, silver, and palladium investment opportunities, you’ve come to the right place. We help keep your precious metal investments secure and safe. Reach out to us to learn more.