Platinum for inflation protection?

Maria Campbell

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Platinum for inflation protection?

maria_campbell📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I'm a bit of a small-town guy myself, mayor actually, here in Boise.
•I've always been pretty community-focused with my investments – thinking about the long run, not just short-term gains.
•That's why about five years ago, I decided to diversify my IRA and put around $75,000 into a Gold IRA.

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Been seeing a lot of chatter lately, especially with the inflation numbers stubbornly high, about different ways people are trying to protect their retirement savings. I'm a bit of a small-town guy myself, mayor actually, here in Boise. I've always been pretty community-focused with my investments – thinking about the long run, not just short-term gains. That's why about five years ago, I decided to diversify my IRA and put around $75,000 into a Gold IRA. I’d been doing pretty well with stocks, but felt like I needed something more tangible, something less susceptible to the wild swings of the market, especially with the whispers of inflation already starting then.

My thinking was, gold has always been a pretty reliable hedge against inflation. It's a physical asset, and historically, when the value of the dollar goes down, gold tends to go up. It felt like a solid, safe play for a portion of my retirement funds. I'm curious if anyone else here has made similar moves recently, specifically with platinum? I know this sub is usually more about gold, but the Platinum IRA part of it has me thinking.

I'm looking at possibly rebalancing a bit and wondering if adding some platinum to the mix would be a smart move, given the current economic climate. Are folks seeing platinum perform similarly to gold in terms of inflation protection? Or are there other factors I should be considering? I'm less interested in speculating on industrial demand and more about preserving purchasing power here in Idaho.

Any insights from those of you who've delved into platinum for inflation protection would be really appreciated. What's your experience been like, and what kind of allocation are you comfortable with? I'm always open to learning from others' experiences.

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11 comments

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Best Answer▲ 11 upvotes

william_davis💎Premium (500k-1m)

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

Comments (11)

mark_adams👑Elite (1m-5m)Real Investor•about 1 month ago

Hey, interesting question! I was actually in a pretty similar boat a few years back, looking at ways to diversify beyond just gold and silver for my IRA and platinum definitely came up. My financial advisor at the time actually talked me through the pros and cons pretty thoroughly. Ended up sticking with mostly gold and some silver, but it was a close call. Curious to see what others here think about platinum's role.

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

Interesting! So, as mayor, have you considered how local businesses and the community in Boise might benefit from platinum investments, or are you thinking purely from a personal portfolio perspective?

ashley_baker💼Starter (0-50k)✓ Verified•about 1 month ago

Hey, interesting thought on platinum for inflation protection. While gold and silver typically steal the spotlight for that, I've always been a bit skeptical that platinum offers the same kind of safe-haven appeal. It's so tied to industrial demand, especially auto catalysts. If the global economy takes a dip, that demand could drop significantly, taking platinum prices with it. Diversification is key, of course, but I'd personally lean more heavily on gold and silver for that pure inflation hedge, rather than platinum's industrial whims.

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

Hey there! Great question about platinum. While gold and silver tend to get most of the spotlight for inflation protection in precious metals IRAs, platinum definitely has its own unique factors to consider.

One thing to keep in mind is its industrial demand, which can make its price a bit more volatile than gold. It's often used in catalytic converters, for example. If you're looking for more details on diversifying within precious metals, you might find this article helpful: "Why Invest in Gold, Silver, Platinum, or Palladium?" It breaks down the pros and cons of each as an investment.

michael_anderson🏆Advanced (250-500k)Real Investor•about 1 month ago

Totally agree with you on this. It's wild how much chatter there is right now, and for good reason! I've been doing my own deep dive into precious metals as an inflation hedge as well. What's interesting is I actually diversified a chunk of my portfolio into platinum last year, and it's been performing pretty decently so far. Definitely something to consider beyond just gold and silver.

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

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

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

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

barbara_white🏆Advanced (250-500k)Real Investor✓ Verified•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.