Gold breaking all-time highs - what's next?
- •Gold just smashed through its all-time high from yesterday and is still climbing.
- •What a time to be an investor, seriously.
- •I remember back after the '08 crash, feeling pretty burnt by the stock market, and decided to put a good chunk of my retirement savings into gold.
Well, look at that! Gold just smashed through its all-time high from yesterday and is still climbing. What a time to be an investor, seriously. I remember back after the '08 crash, feeling pretty burnt by the stock market, and decided to put a good chunk of my retirement savings into gold. Best decision I ever made, right alongside taking that early retirement from teaching a few years before the pandemic hit. I've got a decent chunk, about a third of my total portfolio, in physical gold through my Gold IRA, which is sitting around $120k right now on its own. The rest is in some pretty solid S&P 500 ETFs, but man, gold just feels like a secure blanket.
I'm wondering what you all are thinking now? Is this sustained growth we're seeing, or just another peek at the top before a correction? I’m here in Phoenix, enjoying the sunshine, but keeping a close eye on the markets. My advisor usually tells me to stay the course, but it’s hard not to feel a little antsy when the numbers are moving this fast. Part of me wants to rebalance a bit and cash in some of these gains, especially since I'm mostly living off my pension and that S&P fund anyway. But then the other part of me, the one that remembers the uncertainty of 2008, says to just hold tight and let it ride.
I've been thinking about what this means for my RMDs down the line too. It's great to see the principal grow, but that also comes with tax implications when I eventually have to start drawing it out. Has anyone here used the Tax Calculator tool? I ran some numbers on it the other day, and it really helped clarify some things around future withdrawals, especially with current projections. It’s pretty user-friendly for us non-finance types.
What are your strategies moving forward? Are you holding, buying more, or thinking about selling some of your gold holdings? I’m genuinely curious to hear what the community’s sentiment is right now. Are we heading for another surge, or should we be prepping for a dip?