Fed Hawkish, My Silver, and What's Next?
- •Well, that Fed announcement was certainly...
- •My late husband, God rest his soul, always had a nose for these things, and he was the one who encouraged me to get into silver way back when.
- •I've got a good chunk of my IRA, about $70,000 to be exact, still in various silver coins – mostly American Eagles and some Canadian Maples.
Well, that Fed announcement was certainly... something. Powell sounded pretty hawkish, and it makes me wonder what everyone else is thinking about their precious metals portfolios, especially after the run-up we've had. My late husband, God rest his soul, always had a nose for these things, and he was the one who encouraged me to get into silver way back when. I've got a good chunk of my IRA, about $70,000 to be exact, still in various silver coins – mostly American Eagles and some Canadian Maples.
I started really building this part of his legacy after he passed almost five years ago. It felt like a tangible way to protect what he worked so hard for. Living here in Raleigh, I've seen property values just skyrocket, which is great, but it also makes you worry about inflation eating away at everything else. That's why the silver felt like such a safe harbor. But now, with the Fed seemingly determined to keep rates high, does that make silver less attractive compared to, say, bonds?
I was playing around with that Gold IRA Calculator I found online just to see how different growth percentages would affect my overall IRA value for retirement. It's a neat tool for visualizing the "what ifs." But it doesn't really tell you if silver is still the best place to be right now. My financial advisor is good, but sometimes I feel like they focus more on the broader market, and less on the specific niche of physical precious metals within an IRA.
So, for those of you who also hold silver in your IRAs or even just have a significant stack, what are your thoughts after today's Fed news? Are you holding tight, considering diversifying more, or perhaps even adding to your silver position on any dips? Just trying to get a feel for what smart money is doing. It's important to me to be a good steward of what he left behind, and sometimes these market shifts just make you feel a little uneasy.