Gold breaking all time highs - what now for my IRA?
- •Holy smokes, did everyone see gold breaking past $2100?
- •It's been a wild ride since I first started looking into rolling over some of my 401k into a Gold IRA back in late 2021.
- •I remember my buddy from work, who's a huge perma-bull on precious metals, was practically yelling at me to get in.
Holy smokes, did everyone see gold breaking past $2100? It's been a wild ride since I first started looking into rolling over some of my 401k into a Gold IRA back in late 2021. I remember my buddy from work, who's a huge perma-bull on precious metals, was practically yelling at me to get in. I ended up putting about $150k of my retirement savings into physical gold then, and it felt like a big move for someone whose philosophy is usually about spreading things out. I'm an insurance agent here in Omaha, so I see a lot of people make some pretty risky decisions, so I always try to be sensible with my own money, you know?
I've got a pretty diversified approach overall – still have a chunk in Vanguard index funds, some real estate, even a little bitcoin. The gold portion was really about inflation hedging and just having that tangible asset as a bedrock. But now that it’s smashing records, I’m wondering what the consensus is. Do we ride it out? Is it time to rebalance and take some profits? My original intention was definitely long-term hold, like 10+ years, but seeing these sorts of gains makes you think.
For those of you who've been in Gold IRAs longer, or have more experience with these kinds of market moves, what's your take? Are you just holding strong, buying more on dips, or are you considering locking in some of those gains? And for anyone in a similar position with a portfolio around the $100k-$250k mark in gold, what's your strategy? I'm trying to figure out if it's smart to maybe diversify within the precious metals space (silver, platinum?) or if sticking with gold for the long haul is still the play.