With the state of the world economy and nervousness about your current 401K, you might be thinking of moving some of your savings from a 401K to a gold IRA. This has become a very popular investment as of late and there’s a reason for that.
With the memories of 2008 still fresh in our minds and some speculation over what is actually going on with the economy, many investors are choosing to cover their bets and play it safe. Moving a portion of your 401K or IRA into an IRA backed by physical gold suddenly become very attractive.
You do have a few options and the entire process of moving some of your savings into a gold backed IRA isn’t complicated at all. The decision is the most difficult part of the whole process and it can be completed in a few days. If you’re nervous about this move, think of it this way…
How sure are you that there won’t be a repeat of what happened to many investors in 2008? If you watch the news and try to keep your finger on the pulse of what is going on in the world, you know that there are more than a few investors that are nervous about the world economy in general while the state of the US economy is a bit questionable.
Nobody wants to see an economic down turn and we all want prosperity and a booming economy but you have to admit that unemployment numbers don’t add up and there’s a feeling that the economy is being manipulated… we are being told one thing while we all have this feeling that something isn’t quite right. Not to be a conspiracy theorist but your gut tells you that something’s afoot.
When was the last time you took a look at your statement from your 401K or IRA? How is it really performing? Are you seeing the kinds of returns you were hoping to see or is it a bit lackluster? Are a good portion of your earnings being gobbled up by administrative fees?
When the time does come to move your 401K into a gold IRA, keep this in mind. Chances are that your plan administrator is going to try to talk you out of moving your money. They will try to scare you with talk of fees and taxes or even attempt to tell you that you can’t move your money. You are allowed to move that money once a year. That is your retirement. That is your money. You may actually find that if you do the math, you will wind up being able to save money in administrative fees very quickly when you compare the traditional 401K to a gold IRA but I’ll tell you about that later…