Platinum IRA paid off massively, now what?
- •Man, sometimes you just gotta chuckle at how things work out.
- •I’ve been stacking precious metals in an IRA for probably 15 years now, started back when gold was still under a grand an ounce.
- •Always had that gut feeling, even working in oil down here in Dallas, that you can't just trust fiat currency forever.
Man, sometimes you just gotta chuckle at how things work out. I’ve been stacking precious metals in an IRA for probably 15 years now, started back when gold was still under a grand an ounce. Always had that gut feeling, even working in oil down here in Dallas, that you can't just trust fiat currency forever. Diversification is key, especially when you've seen a few boom-bust cycles in the energy sector.
My big play was always gold, primarily. Got a decent chunk of silver too. But a few years ago, probably around 2017/2018, I decided to throw about $75k into a Platinum IRA. It was a bit of a gamble, not gonna lie. Gold was comfortable, familiar. Platinum felt a bit more volatile, but the industrial demand always intrigued me. Plus, it was trading at a discount to gold at the time, which seemed like a no-brainer opportunity. I figured, what's a small percentage of my total metals portfolio to put into something with high upside?
Well, turns out that gamble paid off. Big time. Let's just say that $75k has appreciated significantly. When I look at my total precious metals IRA, which is sitting comfortably between $700k and $800k now, a substantial chunk of that growth came from that platinum bet. It's funny, all those years watching gold inch up, and then boom, platinum just decides to explode.
So now I'm sitting here, looking at my portfolio like, "Okay, what's the next move?" A part of me wants to let it ride, see where platinum goes. Another part is thinking about taking some of those gains and rebalancing, maybe shifting some back into gold or even looking at more aggressive growth opportunities outside of metals. Anyone else had a similar experience with platinum or another 'secondary' precious metal really outperforming? What did you do with the profits?