Feeling good about my gold IRA during all this recession
- •Man, between the news and just talking to folks around Music Row, everyone's got "recession" on their lips.
- •It's making me feel pretty good about finally pulling the trigger on that Gold IRA earlier this year.
- •It wasn't a huge amount, but it felt right to get some diversity in there beyond just stocks and bonds.
Man, between the news and just talking to folks around Music Row, everyone's got "recession" on their lips. It's making me feel pretty good about finally pulling the trigger on that Gold IRA earlier this year. I'd been thinking about it for ages, probably since early 2022 when things started feeling really squirrelly with inflation, but I finally rolled over about 75k from an old 401k back in January.
It wasn't a huge amount, but it felt right to get some diversity in there beyond just stocks and bonds. My financial advisor was a little hesitant at first, but after I showed him some of the research I'd done on precious metals historically during downturns, he came around. I'm not looking to get rich overnight, just want to protect what I've got, especially with the music industry being notoriously volatile even in good times.
I've been tinkering with that Gold IRA Calculator over at https://calculator.goldirablueprint.com/, just playing with different growth scenarios and what a 5% or 10% annual gain would look like over the next 5-10 years. It's surprisingly calming to visualize how that part of my portfolio could hold up (or even grow!) if the market takes a real dive. It beats checking my regular brokerage account every morning, that's for sure.
Anyone else feeling this sense of relief with some precious metals tucked away? Or am I just being overly optimistic? Would love to hear from others who have been doing this longer than me. What are your thoughts on silver as a recession hedge compared to gold these days?