Anyone prepping for a recession with gold/silver?

Donna Rogers

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Anyone prepping for a recession with gold/silver?

donna_rogers🏆Advanced (250-500k)

2 months ago

Key Takeaways

•Starting to feel like the economic winds are shifting, and not in a good way.
•I know a few old-timers in the industry who always talk about gold as the ultimate safe haven, especially during recessions.
•I'm contemplating moving a portion of my IRA into physical gold, maybe 10-15%, nothing too crazy at first.

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Starting to feel like the economic winds are shifting, and not in a good way. My portfolio (around $350k right now, mostly in traditional stocks and some real estate near Lexington) has been doing great the last few years, but I’m getting a strong sense of déjà vu from the 2008 era. Being in the bourbon industry, I’ve seen how quickly consumer spending can change – premium spirits are usually resilient, but even we feel the pinch when things get really tight. I've been thinking a lot about diversifying into something more tangible, something that historically holds its value when everything else goes sideways.

I know a few old-timers in the industry who always talk about gold as the ultimate safe haven, especially during recessions. My dad always said, "They're not making any more of it." I get the appeal – it feels like a legacy asset, something with inherent value that’s been around for millennia, unlike some of these fleeting tech stocks. I'm contemplating moving a portion of my IRA into physical gold, maybe 10-15%, nothing too crazy at first. It’s not about getting rich quick, it’s about protecting the wealth I’ve built.

For those of you who've already gone down this road, what were your biggest considerations? Did you go with coins, bars, or a mix? Any providers you'd recommend or warn against? I’m still doing my research, and honestly, the whole process of setting up a Gold IRA feels a bit overwhelming with all the different custodians and storage options. Been looking at resources online and found this Gold IRA Quiz that was pretty helpful for a basic understanding, but nothing beats hearing from people with actual experience.

What are your thoughts on recession-proofing with precious metals right now? Is it a smart move, or am I just buying into the fear? Would love to hear some perspectives, especially from anyone who's weathered a market downturn with a significant portion of their assets in gold or silver.

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4 comments

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Best Answer▲ 10 upvotes

william_davis💎Premium (500k-1m)

Totally get that feeling, the vibes are definitely off. Just curious, when you say "real estate near Lexington," are we talking within Fayette County or more like one of the surrounding counties? The market dynamics can be pretty different even just a short drive away.

Comments (4)

betty_king📊Growing (50-100k)•2 months ago

Totally feel this. My parents went through a rough patch in '08 with their retirement savings, and it definitely made me look differently at diversification. I don't have a huge portfolio like yours, but I started putting a small percentage into physical gold about a year ago, just as a hedge against the unknown. It's not going to make me rich, but it helps me sleep better at night, honestly.

william_davis💎Premium (500k-1m)Real Investor•2 months ago

matthew_murphy👑Elite (1m-5m)Real Investor•2 months ago

Totally get the recession jitters, especially with all the talk lately. But honestly, while gold and silver are often seen as safe havens, I sometimes wonder if the "prepping for a recession" angle is overplayed. Like, yeah, they can hold value, but are they really going to propel your portfolio forward in a downturn or just somewhat slow the bleeding? Depending on your timeline, there might be other strategies that offer more growth potential even during shaky times, or at least a better balance of risk and reward. Just a thought!

ruth_perez📊Growing (50-100k)•2 months ago

Totally get that feeling, the vibes are definitely off. Thinking about what happened in '08, it makes sense to diversify. One thing I've found super helpful is really digging into the fees associated with Gold IRAs. They can really eat into your returns if you're not careful. This Investopedia article breaks down the common fees pretty well. Might be worth a read as you're doing your research!

What happens to your 401(k) in the next downturn?

Gold has survived every recession. Get the free guide to see if it's right for your portfolio.

Under $100k? Compare options →