Feeling pretty good about my gold right now with all this

Joyce Cooper

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Feeling pretty good about my gold right now with all this

joyce_cooper📊Growing (50-100k)

about 2 months ago

Key Takeaways

•Okay, with everyone and their uncle talking about a recession, I've gotta say, I'm feeling a little smug about my little gold stash right now.
•For the past year, I've been slowly building up a Gold IRA, mostly with American Eagles and some Canadian Maples.
•I started this after watching my 401k take a bit of a hit during the last market correction.

See what your 401(k) could look like in gold

Okay, with everyone and their uncle talking about a recession, I've gotta say, I'm feeling a little smug about my little gold stash right now. For the past year, I've been slowly building up a Gold IRA, mostly with American Eagles and some Canadian Maples. I've got around $65k in it currently, which for a school principal in Little Rock is a pretty solid chunk of change, and a significant portion of my retirement savings.

I started this after watching my 401k take a bit of a hit during the last market correction. My financial literacy students here often ask about diversification, and while I always preach the long game with stocks, I felt a personal need to walk the walk with some alternative assets. Precious metals just made sense to me as an inflation hedge and a safe haven. It's not about getting rich quick; it's about protecting what I've built.

Honestly, seeing the stock market wobble and interest rates going up, it gives me a sense of security knowing a piece of my portfolio isn't directly tied to corporate earnings or tech bubbles. I mean, sure, it's not a wildly growing asset, but stability feels pretty darn good when everyone else is biting their nails. I’m thinking of adding another $10k this quarter, maybe some platinum this time?

Anyone else feeling this way? Or are you all still all-in on equities and just weathering the storm? What are your thoughts on platinum or palladium for recession-proofing compared to gold and silver?

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3 comments

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Best Answer▲ 10 upvotes

carol_carter💰Established (100-250k)

Glad you're feeling good about your investments! Gold definitely has a historical track record as a safe haven during uncertain times. But just a thought – while everyone's buzzing about a recession, it's worth remembering that gold's performance isn't always a straight line up, even in a downturn. There are a lot of factors at play beyond just economic anxiety. Diversification is key, no matter what the news cycle is saying.

Comments (3)

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

Dude, I totally get it! I started my Gold IRA a few years back, mainly because my dad kept harping on about economic uncertainty. I kinda rolled my eyes at first, but now with all this inflation and recession chatter, I'm feeling a lot more secure. It's a nice peace of mind, for sure.

joyce_cooper📊Growing (50-100k)✓ Verified•about 2 months ago

Hey, that's awesome you're feeling good about your position! Given the current climate, it definitely makes sense to feel a bit more secure with some gold.

Quick question though: you mentioned mostly Eagles and Maples. Any specific reason you went with those two over, say, Krugerrands or Britannias?