I wish I could laugh... I figured our IRA’s were toast, with the Feds monetizing the debt and printing trillions more greenbacks.
Hobson’s choice: Cash out the IRA and convert to silver bullion, where I would loose 20 percent off the top in penalties, and pay another 10 percent above spot market price for the silver (Mint mark-up + 1.3 % commission + insurance and shipping); or convert it to ETF stocks in silver, where I take high risks in the commodities market.
Since I am waiting to build my first home the idea was to try and preserve the capital long enough to convert as a down payment on a mortgage. BUT now I am just coming off a 6-month lay-off and only working 3 days a week.
Of course the timing all has to be perfect: before the dollar crashes, and while the silver stock is higher than the purchase price... and before the interest rates start the inevitable climb to the stratosphere!
Do not go silver or gold ETF because they may have the same problem. All you get is a piece of paper that says you own gold/silver. Some of these ETF’s may be doing the same thing as the commodities exchanges. You can open an IRA trust that will by physical gold approved for IRA accounts. Check out www.bulliondirect.com, and www.apmex.com for info on IRA approved gold for IRA trust accounts that you can personally open.