Okay, so the din is growing louder. Should I seriously consider owning gold, and if so, in what form? Should I cash out my IRA and buy gold? Seems forward foolish to me, since this sort of craze has happened in the past, but I’m growing nervous with the number of stories I’m seeing about it.
Don’t ask me, I bought half my gold the week before 9/11 @ $295/oz so I think it’s a great investment. I bought the other half at @ $1200/oz; still a very good return. It’s impossible for me to be objective.
That said, I am pretty bullish on silver. I have some and want more. Paper investments are losing their charm as the government’s reach grows. But then again, I’m a rightwing tea party paranoid.
You should be more worried about the number of stories out there talking about the fed gov seizing IRAs and 401Ks.
No. In the U.S. buy the metals that become precious in hard times. Lead. Brass. Copper. They are most easily traded and stored in the form of ammunition.
Please do some research on your own. Taking advice from a we forum, no matter how well intentioned, is a bad idea.
We do not know your situation, your tax issues, your family issues, where you would store it, any of that stuff.
And the thought of cashing in your retirement to buy gold sends shivers down my spine. If you think it will go up the 30% you will lose to taxes and penalties...then consider it. But think that through completely first.
I am not trying to be a jerk, but rather direct you to do a lot of research first. My advice is probably not right for you. Nor is yours appropriate for me.
you should have part of your assets in gold — perhaps 8 months worth of spending to be very safe.