Investment Options for Retirement You Need to Explore
Many Americans work their entire lives tirelessly, looking forward to the day they will retire from their long careers. They finally get the freedom from routine work tasks and spend time on things they enjoy, taking up hobbies or traveling the world.
However, social security will barely be enough to meet your expenses. This is why you need to start looking for ways to fund your retirement life. Here are the different investment options you can explore.
Rental Estate Income
Multifamily homes are residential properties that house more than one unit and can offer a unique investment opportunity. It can be a source of reliable monthly cash flow from rental income, provided you can land in the right location.
If you don’t do your research, then there is a high chance that the occupancy rate will be quite low. Plus, property management isn’t something for everyone, especially those who don’t have the time or interest to do so.
People who don’t like to pay taxes can find some relief with a traditional IRA. They can invest their pre-tax dollars into asset classes such as bonds, stocks, annuities, mutual funds, real estate, and exchange-traded funds (ETFs).
The growth in investments will not be subject to taxes until you decide to withdraw. However, the stock market is not doing so well, with some experts warning that a major recession is on its way. This could make your nest egg in a traditional IRA very volatile and at the mercy of economic conditions.
Precious Metals IRA
A precious metal IRA combines the benefits of a traditional IRA and adds the stability that precious metals offer. Metals such as gold, silver, platinum, and palladium have an intrinsic value, which offers investors a safe haven in times of uncertainty.
With so much geopolitical volatility, opening a Gold IRA is the smart thing to do. It will allow people to hedge against inflation that erodes the purchasing power of currencies and leaves them vulnerable. Individuals that want to protect their network often invest in a Gold IRA to diversify their portfolio.
Choose an Affordable Precious Metal Exchange
Orion Metal Exchange is a full-service precious metals investment dealer with an in-house IRA department. We facilitate people looking to roll over their traditional IRAs into precious metals IRAs. Our product portfolio includes high-quality gold, silver, palladium, platinum bullion, and coins in the country. Our affordable services have enabled us to be recognized as the leading gold company for low fees in 2022 on Money.com.