Gold breaking all-time highs - what now for our IRAs?

Charles Lewis

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Gold breaking all-time highs - what now for our IRAs?

charles_lewis💎Premium (500k-1m)

about 2 months ago

Key Takeaways

•So, gold just blew past $2,100 an ounce.
•My Gold IRA is looking pretty healthy right now, gotta say.
•I opened it a few years back, maybe around 2020 or so, with about $250k.

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So, gold just blew past $2,100 an ounce. My Gold IRA is looking pretty healthy right now, gotta say. I opened it a few years back, maybe around 2020 or so, with about $250k. My total portfolio is hovering closer to $700k now, so it’s a significant chunk, and frankly, it’s done exactly what I wanted it to do – preserve wealth, especially with all the craziness going on. I’m a lawyer here in Philly, and while my primary focus is always going to be on the long game for retirement, seeing these kinds of gains is certainly reassuring. It’s hard not to feel a sense of vindication for those of us who saw the writing on the wall with inflation and market volatility.

My strategy has always been about diversification and hedging against instability, not necessarily making a quick buck. I’m not some day-trader looking to flip gold futures. This is about protecting my capital for retirement, and frankly, my kids’ future too. My general thought was that geopolitical instability coupled with continued debt spending would push precious metals higher, and it seems that’s exactly what’s happening. The dollar looks shaky, interest rates are… well, they’re a thing, and every news cycle seems to bring another reason to be nervous about traditional assets.

This brings me to my main question: what’s the play now? Do we just sit tight and let it ride? Part of me thinks this is just the beginning, especially with government spending showing no signs of slowing down and the global landscape remaining incredibly tense. Another part of me, the more cautious lawyer part, wonders if this is a peak, or at least a good time to re-evaluate. I haven’t added to my Gold IRA in a while, mainly due to life expenses and other investment opportunities, but I’ve been considering it. For those of you with similar portfolios or gold allocations, are you doing anything differently given these new highs?

Are you considering taking some gains, or are you doubling down on the belief that traditional fiat currency woes will continue to propel gold higher? I know some folks might say gold is a "barbarous relic," but in times like these, it sure feels like a safe harbor. Interested to hear how others are thinking about this.

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8 comments

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Best Answer▲ 16 upvotes

betty_king📊Growing (50-100k)

I rolled over about $80k last year. Honestly the hardest part was just picking which metals to hold. Still second-guessing myself.

Comments (8)

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

Crazy to see, right? My dad actually opened a Gold IRA for me back in like, 2018 or 2019, and I honestly barely looked at it until recently. Same boat as you, it's looking *much* healthier than I ever expected. Definitely rethinking my 'set it and forget it' strategy now, haha.

william_davis💎Premium (500k-1m)Real Investor•about 2 months ago

Congrats on the healthy looking IRA! That's a solid return since 2020. Out of curiosity, was that $250k specifically for gold, or was that your initial total portfolio value at the time?

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

That's awesome your Gold IRA is doing so well! It's definitely exciting to see those numbers.

My take is a little different though. While it's great for your current holdings, some of us who are looking to get *into* a Gold IRA now might be seeing these all-time highs as a bit of a hurdle. It's a classic "fear of missing out" versus "don't buy at the top" dilemma, right? Still, congrats on the solid gains!

ronald_morris👑Elite (1m-5m)Real Investor•about 2 months ago

That's awesome to hear your Gold IRA is doing so well! It's always great when your investments pay off. Since you're looking at gold hitting all-time highs, you might find it helpful to look into rebalancing strategies for your portfolio.

Here's a good article on rebalancing with gold that could give you some ideas on how to proceed. It's always smart to have a plan when assets perform exceptionally well!

william_davis💎Premium (500k-1m)Real Investor•about 1 month ago

I was pretty skeptical about another gold IRA forum but the tools here on GIRAB actually surprised me — the calculator alone saved me hours of spreadsheet work.

james_wilson👑Elite (1m-5m)Real Investor✓ Verified•about 1 month ago

This mirrors what I've been seeing too. The macro environment right now is making a strong case for physical metals.

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

Ngl I came here expecting the usual affiliate spam but the discussions are actually decent. Way better info than what I was getting from my old advisor.