Anyone else seriously eyeing gold with all this inflation

Patricia Miller

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Anyone else seriously eyeing gold with all this inflation

patricia_miller📊Growing (50-100k)

about 2 months ago

Key Takeaways

•Okay, so I’ve been keeping a close eye on the news lately, and honestly, the inflation numbers are starting to give me some serious anxiety.
•But now I'm seriously wondering if I should be dumping a lot more into it.
•I know gold has historically been a hedge against inflation, and that's exactly why I went for it in the first place.

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Okay, so I’ve been keeping a close eye on the news lately, and honestly, the inflation numbers are starting to give me some serious anxiety. I run a small business here in Denver, and between the rising cost of supplies and generally just seeing prices go up everywhere, it feels like my hard-earned cash is just… shrinking. I initially opened a Gold IRA account about eight months ago, dabbling with about $60,000 to move out of some underperforming stocks, mainly as a long-term diversification play. But now I'm seriously wondering if I should be dumping a lot more into it.

I know gold has historically been a hedge against inflation, and that's exactly why I went for it in the first place. But with the Fed still kinda waffling on rate hikes and the global economy feeling pretty shaky, I'm almost convinced we're heading for a really rough patch. My original plan was to slowly add to my gold holdings over the next few years, maybe another $40k total over a couple of years, but my gut is telling me to accelerate that. Is anyone else feeling this way, like the urgency to protect your assets is really kicking in?

I'm still learning a lot about the nuances of this, and honestly, the thought of putting a larger chunk of my portfolio into one asset makes me a little nervous, even if it is gold. But then I look at my 401k and the traditional market, and it's not exactly inspiring confidence right now. For those of you who've been in Gold IRAs longer, or have more experience with these inflationary cycles, what's your take? Are you increasing your allocations? Any advice on navigating this period? I'm trying to figure out if my fear is rational or if I'm just getting caught up in the hype.

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4 comments

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Best Answer▲ 9 upvotes

ashley_baker💼Starter (0-50k)

Oh man, 100%. I've been feeling the same exact way. It's like every time I go to the grocery store these days, the total just keeps climbing. Ended up pulling the trigger on some gold myself a few months back for that exact reason. Felt like a tangible way to hedge against all this uncertainty.

Comments (4)

ashley_baker💼Starter (0-50k)✓ Verified•about 2 months ago

sharon_evans💰Established (100-250k)Real Investor•about 2 months ago

Totally get the anxiety about inflation, it's rough out there for small businesses. Sounds like you're thinking about moving some of your personal savings, but have you looked into how a Gold IRA might specifically benefit your business's financial planning, or is this more about your individual portfolio?

susan_clark💰Established (100-250k)Real Investor•about 2 months ago

Totally get the inflation anxiety, it's real out there. Gold *can* be a good hedge, no doubt. But personally, I'm also looking at other tangible assets and even some dividend stocks as inflation plays.

I mean, gold's performance isn't always a straight line up just because inflation is spiking. There can be pretty significant swings, and liquidity can sometimes be a factor if you need to access that capital quickly. Diversification within your inflation hedges might be worth considering too!

karen_robinson💼Starter (0-50k)•about 2 months ago

Definitely! Inflation is a real concern right now. One thing I found super helpful when I was first looking into this was understanding the different types of gold you can hold in an IRA. It's not just any old gold coin. Check out this article on Forbes Advisor about Gold IRAs – it breaks down the eligible precious metals and other important considerations really well. Good luck!

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