Seriously considering adding more gold coins while prices are down - my strategy, curious what others think.
- •Okay, so I've been watching gold prices dip a bit recently, and honestly, it's got me thinking about my strategy.
- •I dipped my toe into a Gold IRA earlier this year, shifting about $60k over from some underperforming stocks.
- •I went with mostly American Gold Eagles, a mix of 1 oz and 1/2 oz coins, just liked the familiarity and liquidity.
Okay, so I've been watching gold prices dip a bit recently, and honestly, it's got me thinking about my strategy. I dipped my toe into a Gold IRA earlier this year, shifting about $60k over from some underperforming stocks. As a small business owner here in Denver, diversifying away from just the market felt like a smart move, especially with all the economic uncertainty floating around. I went with mostly American Gold Eagles, a mix of 1 oz and 1/2 oz coins, just liked the familiarity and liquidity.
My initial thought was to dollar-cost average, but seeing these recent dips, I'm almost tempted to accelerate my next planned purchase. I've got another $20k I was planning to roll over in the next 6-9 months, but if prices continue like this for another week or two, I'm seriously considering pulling the trigger sooner. My thought process is that I'm looking at this as a long-term hold for retirement, so short-term fluctuations don't bother me as much as they used to with stocks. It feels like a good opportunity to lower my overall average cost.
Right now, I'm trying to figure out if it's better to wait a little longer in case it drops further, or if I should just jump on this current dip. I'm new enough to Gold IRAs that I don't have a ton of experience timing these things. Anyone else thinking similarly? Or am I being too impulsive? What's your strategy when you see gold prices pulling back like this? I'm already looking at that RMD Calculator to get a handle on future distributions, so I'm really thinking long game here with the gold.