Inflation: Finally getting off the sidelines with my IRA, anyone else feeling the pressure?

Janet Cook

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🧱 Silver Bars

Inflation: Finally getting off the sidelines with my IRA, anyone else feeling the pressure?

janet_cook📊Growing (50-100k)

about 2 months ago

Key Takeaways

•The price of silver for manufacturing, the cost of just keeping the lights on...
•That's finally changing.
•I just initiated a transfer of about 75k from my IRA into a Gold IRA, specifically targeting some good quality silver bars.

The 3-step rollover process explained

I've been watching the inflation numbers tick up for a while now, and honestly, running a jewelry store in Providence, I'm seeing it in the cost of everything coming in. The price of silver for manufacturing, the cost of just keeping the lights on... it's getting wild. Historically, gold has always been my go-to for wealth preservation, both personally and for the business, but I've always kept my retirement portfolio pretty traditional with stocks and mutual funds.

That's finally changing. I just initiated a transfer of about 75k from my IRA into a Gold IRA, specifically targeting some good quality silver bars. Figured it was time to put my money where my common sense is. Even with the current premium on physical metal, it feels like a safer bet than just hoping the Fed gets this under control anytime soon. It’s a significant chunk of change for me, right around a third of my total portfolio, and honestly, a bit unnerving to pull money out of the market right now, but I just can't shake this feeling of impending financial doom if I don't diversify into hard assets.

Anyone else feeling this intensified pull towards precious metals due to inflation? What percentage of your portfolio are you dedicating to gold and silver these days? I'm curious if I'm being overly cautious or if this is a more widespread sentiment among other investors.

Also, any recommendations for solid custodians for these Gold IRAs? I went with one I researched pretty thoroughly, but always good to hear other people's experiences. Just hoping I made the right move here before things get even crazier.

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7 comments

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Best Answer▲ 11 upvotes

michael_anderson🏆Advanced (250-500k)

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

Comments (7)

brian_edwards🌟Ultra (5m+)Real Investor✓ Verified•about 2 months ago

Totally feel this. I've been in a similar boat, watching my regular investment portfolio just... not keep up. The thought of my retirement savings losing purchasing power really lit a fire under me. Started seriously looking into precious metals for the first time in my life a few months ago after years of just 'thinking about it'. It's wild out there.

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

Totally get the pressure, seeing it in my own business too. When you mentioned "silver for manufa" – did you mean for manufacturing your jewelry, or are you also considering silver as an investment alongside gold for your IRA? Curious about your thought process there.

dorothy_lopez💰Established (100-250k)Real Investor•about 2 months ago

Totally get the sentiment, OP. Inflation hitting hard everywhere. But I wonder if buying into gold/silver NOW, when everyone else is also feeling the pressure and presumably buying, isn't actually buying high? Seems like the smart money might have already moved in a while ago. Just a thought.

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

Totally feel this! Inflation is a brutal beast right now. Since you're looking at a Gold IRA, it might be worth checking out the IRS guidelines for what precious metals are actually allowed in an IRA. Not all gold and silver is eligible, so knowing the fineness requirements firsthand can save you a headache down the line. Good luck!

janet_cook📊Growing (50-100k)•about 2 months ago

Totally get this! I've been feeling the same pressure, especially watching my savings just... sit there losing purchasing power. Finally pulled the trigger and moved a good chunk of my old 401k into a Gold IRA last month. It's wild seeing the price of everything, from groceries to gas, just keep climbing. Feels good to finally do something proactive about it.