Finally pulled the trigger on silver for my IRA

Timothy Reed

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Finally pulled the trigger on silver for my IRA

timothy_reed💎Premium (500k-1m)

about 1 month ago

Key Takeaways

•After a lot of back and forth, I finally decided to add some silver to my Gold IRA.
•For years, it's just been gold coins and bars, and I've been happy enough with the performance.
•My advisor here in Madison always talked about diversification, even within precious metals.

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

After a lot of back and forth, I finally decided to add some silver to my Gold IRA. For years, it's just been gold coins and bars, and I've been happy enough with the performance. Got in with a pretty significant chunk of my portfolio – about $600k overall between the gold and some other investments – back when things were looking a bit shaky, and it's been a steady hand for me, especially through all the craziness lately.

My advisor here in Madison always talked about diversification, even within precious metals. Said it was like having Holstein and Jersey cows – both dairy, but they bring different things to the table, ya know? I was always a bit hesitant with silver; it's got a lower price point, higher volatility sometimes, and frankly, takes up more space to store. But seeing how gold has done its thing, and then looking at the industrial demand for silver, it just started making more sense. I'm not looking to get rich quick off it, but more as a hedge against inflation and another layer of protection if the market really goes sideways.

Ended up going with some Silver Eagles and a few 100oz bars. Got about 10% of my precious metals allocation in silver now. It feels like a smart move – a bit more ballast in the boat, as my grandpa used to say. What are everyone else's thoughts on silver? Anyone regretted adding it to their IRA, or wish they'd done it sooner? Curious to hear from folks who've had it in their portfolio for a while.

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6 comments

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Best Answer▲ 11 upvotes

maria_campbell📊Growing (50-100k)

That's awesome, congrats! I've been eyeing silver myself as a hedge, especially considering the industrial demand outlook. For those of us with smaller portfolios (I'm hovering around 75k in my Gold IRA), what percentage of silver vs. gold did you decide to go with, and were there any specific types of silver (e.g., Eagles, Maples, bars) you found offered better premiums or storage fees through your custodian?

Comments (6)

thomas_walker🏆Advanced (250-500k)Real Investor✓ Verified•about 1 month ago

Nice! Congrats on pulling the trigger. I actually did something similar a few months back. Had a good chunk in gold already, but decided to diversify a bit more with some silver – not quite your level of investment, but still a decent amount for me. It feels good to have that bit more spread out, especially with all the economic chatter lately.

carol_carter💰Established (100-250k)Real Investor•about 1 month ago

Nice! Always good to diversify a bit, even within precious metals. Just curious, did you go with specific silver coins or bars, or a mix? Any particular reason you picked the silver you did?

robert_thompson💰Established (100-250k)Real Investor✓ Verified•about 1 month ago

Hey, that's awesome you're diversifying! While silver definitely has its merits, I'm a bit surprised you went with such a big chunk of your portfolio. Gold and silver can sometimes move in tandem, and for true diversification, you might want to consider assets that historically have a lower correlation to precious metals. Just something to think about down the line!

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•about 1 month ago

That's awesome, congrats! I did the same with phys silver for my IRA back in '09, right after the whole auto industry meltdown here in Detroit. My 401k had taken such a beating, and my financial advisor was still pushing mutual funds. I remember looking at my statements, just thinking, "there has to be something else." Ended up putting about 15% of my retirement into silver eagles and bars. It wasn't the insane returns some of the gold bugs saw, but it was a hell of a lot better than watching my paper assets bleed out. Still hold a good chunk of it.

robert_thompson💰Established (100-250k)Real Investor✓ Verified•about 1 month ago

Totally relate to this. Took me a good six months of procrastination after diving into gold to finally pull the trigger on some silver for my IRA last year. Thought about waiting for a dip but the thought of missing out spurred me on. Ended up going with APMEX for a good chunk of it – their selection was hard to beat for a newbie like me in Phoenix. Haven't regretted it one bit.