Seriously considering adding more physical gold - Anyone
- •Okay, so I've been watching the economic news out of D.C.
- •lately, and honestly, with all the chatter about inflation and potential recession, I've got that familiar knot in my stomach.
- •As a contractor, I've seen enough cycles to know that when things get shaky, you want to be holding onto something solid.
Okay, so I've been watching the economic news out of D.C. lately, and honestly, with all the chatter about inflation and potential recession, I've got that familiar knot in my stomach. As a contractor, I've seen enough cycles to know that when things get shaky, you want to be holding onto something solid. I've got a decent chunk now – maybe $150kish of my portfolio is in a Gold IRA – but I'm seriously thinking about topping that up, especially the physical bullion within it.
My big concern right now is how long this volatility is going to last. I'm based here in Jacksonville, and while the job market feels okay for now, you never know how quickly things can turn. The security aspect of holding physical gold just resonates with me, especially when you think about worst-case scenarios. I'm not looking to get rich quick, just protect what I've built and ensure my retirement isn't completely wiped out by some economic downturn. I’m also starting to think about when those RMDs will kick in down the line. I bookmarked that RMD Calculator at Gold IRA Blueprint to play around with the numbers and see what I'm looking at.
I know some people bash gold, calling it a "barbarous relic," but honestly, it's been around for thousands of years as a store of value. It just feels safer than relying solely on paper assets right now. What are others doing? Are you adding more precious metals to recession-proof your portfolio, or are you betting on other strategies? Any other contractors out there feeling the same way?