When Should I Buy Precious Metals?

When Should I Buy Precious Metals?

There is no set time when you should buy precious metals. You should buy gold, silver, platinum, or palladium when you decide you want to own it. Physical gold isn’t a paper asset or an investment in the sense that it can become a liability to another party; it’s wealth insurance. If you believe that you should own gold for your own security and peace of mind, you should buy it. You’re looking for protection from financial meltdown – you might not have time to wait for your ideal conditions.

Are American products better?

If you plan to liquidate your gold in the United States, it could be easier to accomplish with U.S. minted coins. However, if you wish to open a precious metals IRA, you can select any IRS-approved metals, which can be American, Canadian, Australian, and more.

How long can I hold my gold?

Precious metals ownership has numerous advantages. Gold has been a symbol of wealth and status throughout human history; gold is valued all over the world; gold cannot be manipulated like paper currency. However, gold is not a short-term investment. If you are going to be buying gold, you should consider holding onto it for the long term. International conditions that affect the price of gold don’t change immediately, and prices can fluctuate considerably within the space of a year. Selling at the first sign of a price dip might only result in purchasing gold again later – at a higher price.

If you believe you might struggle to keep your gold as a long-term asset, you might want to think about which forms are the easiest to liquidate.

What kind of metal should I buy?

While gold is the most luxurious of all the precious metals, it certainly isn’t the only financially sound option. Silver is a valuable yet budget-friendly precious metal that has most of the same safe-haven asset advantages as gold. Moreover, think about whether you anticipate using your precious metals as money. Should bartering become necessary, it will be far more advantageous to have access to silver, rather than purely value-dense gold coins.

If you’re looking to spend under $10,000 for precious metals to hold in the event of a currency catastrophe, silver might be your best bet.

How much should I spend on precious metals?

While there is no definitive net-worth percentage, some advisors suggest holding anywhere between 10 – 30 percent of assets in precious metals. Of course, the amount depends upon your financial situation, and your comfort with current international economic conditions.

Where should I buy my precious metals?

It is critically important to select a reputable gold firm with a savvy, knowledgeable, and professional team of precious metals experts. You want not only pure, fairly-priced precious metal products, but also access to seasoned representatives so that you can successfully navigate the rocky terrain of precious metals ownership, and assist you with making changes to your portfolio, and liquidating assets.

You want to check all consumer advocacy resources before committing to a purchase; the Better Business Bureau is an excellent place to start. Not only are you making sure the dealer has an A+ rating, you also get to read reviews and testimonials from a diverse client base. (Beware of abundant customer complaints, even with an A+ rating.)

Next, you’ll want to have a good rapport with your contact at the company. Your specialist should understand your goals for protecting your savings – it shouldn’t just be a sales pitch. He/she should be knowledgeable, and committed to open and transparent communication before and after any transaction. If they try to pressure you into buying, walk away.

Lastly, it’s also important to find a firm that has a stable history within the precious metals industry. More than 10 years in the business is a good sign.

Once you’ve answered the above questions comprehensively, you’ll be in a good position to make the best precious metals choices for your lifestyle and goals.

If you are interested in either purchasing physical gold or opening a precious metals IRA, please contact the team at Birch Gold Group for a consultation today.

3 Essential Tips For Effective Retirement Planning

3 Essential Tips For Effective Retirement Planning

When it comes to retirement planning, there’s no such thing as “too soon.” Even if you’re in your mid-20s, you should still have a strategy in place for your golden years if you want to ensure financial security. Here are three crucial steps to successful retirement planning.

Assess your longevity.

While this isn’t a particularly fun exercise, it’s nonetheless important to dispassionately gauge your life expectancy. You can get a fairly accurate idea from your own family history (how long your parents and grandparents lived), your current physical health, and your lifestyle (whether you drink, smoke, or if you are overweight and/or sedentary).

However, whatever your findings are, you should certainly plan for a relatively long life; you can make an educated guess as to the length of your life, but no one has a crystal ball.

Plan your retirement lifestyle.

Retirement is much more than lounging on a lawn chair and sipping Arnold Palmers. You’ll want to participate in activities, perhaps go on vacation, and/or learn new skills and develop new hobbies. After all – it is very possible that you might spend as long in retirement as you do in your career. What might your retirement activities be, and how much would they cost? Will you want to keep working in some capacity even if you’re officially retired?

Build tangible assets.

It’s all well and good to have diverse paper assets – money market accounts, stocks, bonds, and investments – but having physical assets that maintain and even increase their value over time are crucial to achieving financial stability. Unlike intangible assets that can become worthless, commercial property, real estate, and precious metals will always have value.

If you have questions about how gold or precious metals can help you achieve your retirement goals, don’t hesitate to contact the experts at Birch Gold Group for a comprehensive consultation. Follow us in Pinterest.

Where Will You Retire? Can You Afford It

Even if you don’t plan on retiring to a lavish resort community, you still might not be able to afford to live comfortably (or even frugally) during your golden years. Here’s what you’ll have to consider if you want retirement security.

For too many Americans, the prospect of retirement is a bleak one. If you’re already living paycheck-to-paycheck, how can you expect to survive when your paychecks diminish or even cease entirely?

It isn’t a fun prospect, but extensive planning is essential to a successful retirement (“successful” being the ability to at least sustain your current quality of life, whatever that may be). You have to plan for everything life might throw at you. Here’s where you’ll need to begin.

The state in which you currently live might not be the best place to retire.

As much as you might want to stay in your current city, the cold reality might be that you won’t be able to afford it after you retire. How does it currently rank in terms of health care and overall affordability? If you’re currently struggling to live in an expensive city, you might want to investigate other, more affordable options now, so that you can effectively put a cap on unnecessary expenditures early.

Don’t rely entirely on Social Security or pension plans.

Even generous pensions and Social Security benefits can become uncomfortably tight when we reach our golden years. Health care demands will increase, and if you have specific plans—like expanding your property, taking vacations, starting a business, or going back to school—you’ll probably need at least double your current income.

Consider tangible assets.

Hard assets—like precious metals, commercial property, and real estate—provide long-term security that many paper assets cannot. Investigate how a precious metals IRA or physical gold might contribute to your future financial stability.

If you have questions about how precious metals might help you achieve and maintain your ideal lifestyle after retirement, contact the experts at Birch Gold Group today. Visit blog link for more information.

Paper Gold Vs. Physical Gold Bullion: Why Bullion Is Better

There are several ways you can buy gold, but which one is better? Here are the reasons why physical gold is superior to paper gold.

It’s no secret that gold makes an exceptional addition to a portfolio. It’s a safe-haven asset that doesn’t rely upon fluctuations in the stock market. However, all that glitters isn’t necessarily gold—there are paper options that eliminate the need to actually purchase and store the actual metal. But is it worth the risk? Not really.

You don’t own the physical metal.

Basically, paper gold—exchange traded funds (ETF) and pool accounts—is a contract that is backed by the value of gold. You are buying a share of a store of gold—you do not actually own any gold, but are instead investing in the performance of gold.

Fees, fees, and more fees

There are numerous fees associated with paper gold—brokerage fees,commission, and management expenses—that could corrode your return.

Significant counterparty risk

Like any type of futures contract, you are depending on upon the stability of the primary custodian of the gold. You don’t hold the title to the gold itself, but are instead relying upon the bank/financial institution that may be holding physical gold and gold derivatives. It is very possible that the institution isn’t actually holding the amount of gold that they want investors to believe.

One of the main advantages of owning physical precious metals is that they exist outside the financial system. ETFs could be adversely affected should a banking crisis occur again. (When MF Global declared bankruptcy, clients’ gold accounts were drained.)

For more information on buying precious metals, contact the professionals at Birch Gold Group for a consultation. Visit blog link for more information.

3 Issues that Influence Gold Bullion Coin Prices

3 Issues that Influence Gold Bullion Coin Prices

If you’re purchasing gold coins as a safe-haven investment, clearly, you want the best possible rate for those gold bullion coins. But how is that rate determined? Here are three factors that will affect the price you’ll ultimately pay.

 There are numerous reasons why gold bullion is an excellent addition to your portfolio; not only is it a liquid asset, it is also a solid hedge against inflation. However, when purchasing gold bullion coins, you might notice that the price of different coins varies, even though for many coins, the amount of gold content is often the same. Here’s why.

Investors like certain coins. Yes, even though gold bullion buyers don’t view the coins as necessarily being collectible in the sense that rare, numismatic coins are, some bullion coins are just more popular than others, which does affect the price. For example, American Buffalo and American Eagle coins are priced slightly higher than Canadian Maple leaf coins.

Dealer mark up. Precious metals dealers add a premium to the price of bullion in order to function as a business and cover the cost of acquisition, customer service, storage, insurance, rent, and other factors.

Coin weight. Coins that are lighter than one troy ounce will be costlier in the long run than single ounce coins, since the premiums will be higher.

If you are interested in adding gold or other precious metals to your portfolio, contact the professionals at Birch Gold Group today for a thorough consultation. Visit blog link for more information.

The Most Compelling Reasons For Owning Physical Gold

For thousands of years, precious metals have occupied a prestigious place in trade. In fact, the acquisition of these metals gave rise to the concept of market and currency. This is why precious metals such as gold have consistently retained their high value despite changes in economic climates. Precious metals will always have integral value because of their tangibility and rarity. Thus, a lot of people nowadays are becoming open to the idea of buying precious metals because of benefits, such as the following:

Image source: bizjournals.com

Image source: bizjournals.com

Hedge against inflation

For the past few years, gold’s value has remained strong despite fluctuating economic conditions. Analysts say these values are not showing signs of decline, at least not any time soon. As observed in the past, when prices of major commodities rise, the value of this precious metal also tends to rise. Gold could be one of the many ways to preserve wealth while beating inflation at the same time.

Balancing asset mix

Smart financial decisions involve diversifying asset ownership. With uncertain economic conditions, placing all assets in one basket (such as in stocks or real estate) may prove dangerous. Buying precious metals as an addition to paper assets can enhance portfolio stability and balance the overall asset mix. When all other asset classes decline, physical gold can be a reliable fallback.

Image source: ask.com

Image source: ask.com

Marketability and storage

High demand for precious metals means higher marketability. Gold may not be as liquid as equities but in its physical form—such as coins, bars, jewelry, and equipment—this metal is very easy to sell. In addition, because they are tangible assets, they can be taken into possession and be stored for a period of time. While in storage, their value can continue to rise.

Start building and preserving your wealth around gold now. Contact Birch Gold Group through this website.

Fear of Things that Glitter: Don’t be Scared of Gold | BirchGold.com

Fear of Things that Glitter: Don’t Be Scared of the Bright Yellow Metal

Why don’t more Americans have gold in their portfolios? Could gold bears have made them skittish?

In spite of the fact that gold is a safe-haven asset that is roundly described as being a “crisis commodity,” gold isn’t a widely-purchased asset. However, in times like these, where economic and political stability is in flux, gold might be the one addition to your portfolio that could deliver financial security.

The lack of responsibility on the part of global banks has created tremendous economic turmoil all over the world. Moreover, Europe is in absolute crisis due to the proliferation of terrorist activity that shows no sign of abating, the burden of a flood of refugees, and Great Britain’s ongoing threat to leave the European Union. Every day, we may be coming closer and closer to economic collapse, and our individual defenses are relatively few.

Except for gold.

Historically, the price of gold spikes when markets crash. When intangible stock values evaporate, people turn to the physical comfort of gold. Every global culture recognizes the value of gold and will continue to recognize the value of gold in spite of the fluctuation of other assets, such as oil, natural gas, and corn. Central banks amass gold as a protection against fiscal downturns. Gold has the benefit of being both a hedge and a safe haven.

So, in spite of all analytical and historical evidence to the contrary, why do bears insist upon ignoring all of gold’s merits?

Because people don’t know how to buy it.

Even though gold is more likely to retain value more consistently than even bread, buying gold isn’t automatically fool-proof. You have to have the right objective, consultation, and action-plan before buying gold can be considered a truly safe strategy.

Before you make the decision to buy gold, contact us today for a comprehensive consultation.