Is Your Partner Undermining Your Retirement?

Is Your Partner Undermining Your Retirement?

In general, couples are able to accumulate greater resources and more wealth than single people. However, far too many couples not only fail to save for retirement, they might be ruining their chances for financial stability even if they are saving. Here are a few warning signs that your significant other (or you) could be sabotaging your future.

Unchecked spending.

When one part of a couple has expensive tastes that aren’t supported by income, that can spell doom for retirement. This is particularly true if that person tries to keep their spending a secret. While trust is essential in any relationship, don’t let your trust blind you to a possible financial meltdown. Discuss your spending habits and if you need to scale back significantly. If you suspect that your significant other is spending money on the sly, check your existing accounts, as well as your credit report for new credit cards or accounts that might have opened up.

Taking all (or no) responsibility.

Retirement planning should be a joint endeavor. Don’t do all of the work yourself, and certainly don’t rely on your partner to carry the entire burden. Even if there is a significant income disparity, both members’ active participation could bring numerous advantages, including employer 401(k) matching funds, and tax breaks.

Failing to calculate the goal amount.

What do you plan on doing once you retire? Whatever you decide will let you know how much money you’ll need. If you plan on taking vacations, learning new languages, taking music lessons, you’ll need the resources to cover that in addition to your living expenses. Retirement isn’t just sitting at home – it’s the beginning of a new life!

To learn more about how a gold IRA could help you in retirement, contact the representatives at Birch Gold Group for a consultation. Visit blog link for more information.

 

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Why Seniors Make Great Targets For Investment Scammers

Why Seniors Make Great Targets For Investment Scammers

An oft-repeated quote is: “With age comes wisdom.” So, why are con artists so successful at scamming seniors? Here are a few reasons why we become so easily swayed by fraudsters as we get older.

Seniors aren’t technologically savvy.

Digital communications are evolving more quickly than any other technology in human history, and it’s difficult for anyone – let alone seniors – to keep pace. Malware, viruses, ransomware, and other malicious programs are being created and launched faster than we can create strategies to combat them, and as we age, we are less likely to purchase the latest gadgets and devices. This is largely because we’ve been trained to appreciate appliances and products that last for years. However, when it comes to digital technology, the older the system is, the more vulnerable it is to attack. By failing to research and invest in the latest technical solutions, we are putting our finances at risk.

Seniors are more likely to have savings.

Seniors are more likely to have accumulated savings than their younger counterparts. Moreover, they’re more likely to have easily accessible assets, like cash, so con artists can drain accounts with relative ease.

Seniors are reluctant to report scams.

Sometimes, the shame of having been the victim of fraud leads seniors to keep quiet about their victimization, making them even more attractive targets. Scam artists can commit their crimes again and again without being reported.

Make sure you protect yourself against fraud by regularly doing the following:

    • Never, ever open email attachments from senders you don’t recognize. Sometimes, it’s not even a good idea to open attachments from senders you do recognize, since they could be sending you a virus without even knowing it. Also, don’t click on any links in unsolicited emails.
    • Check your online account regularly. Log into your all of your financial accounts every day to make sure there is no activity you don’t recognize. The sooner you spot suspicious activity, the easier it is to correct it.
    • Don’t be afraid to be difficult. If someone offers you an investment opportunity, ask questions, demand answers, and do your research. Never hand over sensitive information without due diligence.

If you have questions about the benefits of a gold IRA, contact the representatives at Birch Gold Group for a comprehensive consultation. Visit blog link for more information.

Why Won’t Financial Advisors Suggest Gold?

Why Won’t Financial Advisors Suggest Gold?

Most financial advisors advocate for paper assets such as stocks and bonds – but relatively few ever recommend buying physical precious metals, such as gold. Although gold is a proven inflation hedge and safe haven asset, with a long and storied history of being valued above nearly any other commodity, the majority of financial institutions won’t even entertain the question of buying physical gold. Why?

Here are the reasons why your advisor will simply ignore physical gold.

They just aren’t familiar with it.

Oh, sure – they know that gold has incredible value; they probably own it in the form of a gold watch or other jewelry. However, they haven’t familiarized themselves with gold markets. They handle (and sell) intangible assets, and they’re simply incapable of speaking authoritatively on the benefits of gold ownership.

It doesn’t make them a profit.

Would a Chevrolet dealership seriously steer customers towards buying a Ford? Of course not. They want to sell their own products and make a profit, so naturally they’re going to endorse the stock they offer. It’s the same thing with most financial advisors: they sell you the products that will make them money. If these paper investments and financial products wind up working out well for you, then that’s certainly a feather in their cap. Nevertheless, your success isn’t necessarily what is going to earn their living. Commission-based financial institutions make their living from selling, not from offering you the best possible alternatives.

It’s simple. Properly diversified portfolios offer you retirement security, and you can’t have a diversified portfolio without tangible assets. Gold is one of the most historically secure assets it is possible to have.

If you want to learn more about how buying gold bullion or opening a gold IRA can help you meet retirement challenges, please contact the experts at Birch Gold Group today for a complete consultation. Visit blog link for more information.

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.

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.

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.