The Reality of Buying Gold for Your Retirement Portfolio

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The Reality of Buying Gold for Your Retirement Portfolio

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The Reality of Buying Gold for Your Retirement Portfolio

TRANSCRIPT:

Have you heard you can buy gold at Costco? Well, someone had the bright idea they would buy gold from Costco, get points or cash back on their card, and then return the gold. Costco says not so fast. Hi, I’m Hunter Brockway, founder of Boca Retirement Strategies, here to guide you to a successful, stress-free retirement while spending more and avoiding being killed in taxes. gold. While that sounds great on the surface, make sure you consider the following hurdles before cashing out your IRA to buy gold. Bear in mind, I’m not bashing gold.

Gold is an asset that the US dollar is supposed to be backed by. And often, I will see paper gold as a suitable holding within a client portfolio. Costco does not accept returns on gold. This man was stuck with the gold. What were his options? He could hold onto the gold and show it off as decoration. He could bring it into a gold dealer and sell it to the dealer at a loss of what he purchased it for. He could not purchase something at a store with the gold nor exchange $1 of gold for one US dollar. If he does decide to hold onto the gold, well, the gold can provide some inflation protection. protection. Gold is not a great example of an asset that increases in value.

When we’re talking about building retirement portfolios for clients, the reason to invest money is to maintain and grow purchasing power. In some cases, grow legacies as well. Well, what if SHTF stuff hits the fan? You’re worried about an apocalypse and zombie attack and the thought processes that physical gold will carry you through those dark times, as opposed to holding on to shares of quality companies. and spend money shipping you your gold after stuff hits the fan. And if you really truly believe this is a reason to hold on to gold, your money would likely be better spent on survival courses and ammunition.

Me personally, I’d rather live as much life as I’m able to. No, of course the world we live in does not give me the warm and fuzzies, but I could either live the next 30 years to the fullest or sit around for 30 years waiting for Armageddon to happen and regret not living my life. I choose to live. just like in any other investing conversation fits here. have, feel free to reach out at contact at bocaretirement.com. Enjoy your successful retirement and thank you for watching. Bye. things

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