Seriously considering putting more into gold/silver with all this recession talk - anyone else?

Sharon Evans

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Seriously considering putting more into gold/silver with all this recession talk - anyone else?

sharon_evans💰Established (100-250k)

3 days ago

Key Takeaways

•Okay, so I've been seeing a lot of chatter lately, both in the news and from the VPs at work, about a potential recession.
•It's got me thinking hard about how to best protect my portfolio.
•I've got around $150k in my whole nest egg right now, mostly in a mix of stocks and mutual funds, but about $25k of that is already in my Gold IRA.

The 3-step rollover process explained

Okay, so I've been seeing a lot of chatter lately, both in the news and from the VPs at work, about a potential recession. It's got me thinking hard about how to best protect my portfolio. I've got around $150k in my whole nest egg right now, mostly in a mix of stocks and mutual funds, but about $25k of that is already in my Gold IRA. I started that back in '19 after hearing some of the executives at the oil company I work for talking about it and it really impressed me how it performed during the initial COVID uncertainty.

My gut is telling me to double down on precious metals right now. The stock market feels so... bouncy. One day it's up, the next it's down 500 points on some news headline about interest rates. I'm in Tulsa, and while the oil industry feels stable enough, I'm just a secretary, and you never know what could happen. Diversification feels like the real key.

I'm torn between buying more physical gold/silver directly or just adding more to my existing Gold IRA. The tax benefits of the IRA are obviously appealing, and I don't really want a bunch of bars just sitting in my house. My big question is, for those of you who've been through a few economic downturns, what's your strategy like right now? Are you buying more, holding steady, or even divesting from other assets to bolster your precious metal holdings? Is it smart to jump in before a recession officially hits, or wait to see how things play out?

Also, if anyone's thinking about getting into a Gold IRA for the first time or expanding their existing one, you might want to check out the Eligibility Checker. I used something similar when I first set mine up, and it saved me a lot of hassle figuring out if my current retirement accounts even qualified for a rollover. It's a quick way to see if you even can do it before you get too deep down the rabbit hole.

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3 comments

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Best Answer▲ 5 upvotes

christopher_young🌟Ultra (5m+)

I hear you on the recession talk, it's definitely unnerving. But sometimes I wonder if everyone piling into gold and silver right when things are looking shaky isn't just creating a bit of a self-fulfilling prophecy, or at least driving up prices beyond a sustainable point. Is there a risk of buying high and then having it dip significantly once the dust settles? Just a thought.

Comments (3)

paul_hill🏆Advanced (250-500k)Real Investor✓ Verified•3 days ago

Totally get where you're coming from. I actually did something similar last year. Had a gut feeling about the market, and ended up allocating a bigger chunk to precious metals, especially silver. So far, no regrets. It's definitely helped me sleep a little easier with all the economic uncertainty swirling around.

janet_cook📊Growing (50-100k)•3 days ago

Yeah, the recession talk is definitely ramping up. I've been eyeing gold and silver too, especially as a hedge. What kind of percentages are you looking at allocating to precious metals, assuming you go forward? Just curious if you have a specific target in mind.