Seriously regretting sitting on the sidelines with Gold IRA - anyone else?
- •Okay, I'm kicking myself over here.
- •For the past year, I've been debating getting into Gold Coins for my IRA, especially with all the talk about inflation and the economy feeling shaky.
- •If I'd just bought a year ago like I was planning, that $70k would be closer to $80-90k by now.
Okay, I'm kicking myself over here. For the past year, I've been debating getting into Gold Coins for my IRA, especially with all the talk about inflation and the economy feeling shaky. I finally pulled the trigger a few months ago after the price dropped a bit, thinking I was being so smart by "timing the market."
Well, turns out that little dip was a springboard, because now gold is soaring! I put about $70k into a mix of American Gold Eagles and Canadian Maples, and I'm up a decent amount, but I can't help but feel like I missed out on so much more. If I'd just bought a year ago like I was planning, that $70k would be closer to $80-90k by now. I'm a government employee here in Albuquerque, and I'm really trying to maximize every dollar for retirement to supplement my pension. Seeing those numbers just gnaws at me.
My advisor kept telling me "time in the market beats timing the market," and I totally get it now. I let the fear of buying at a peak stop me, and then the fear of missing out made me jump in after a dip that wasn't nearly deep enough for what came next. It's so frustrating! I keep thinking about how much more stable my retirement would feel with that extra chunk of change from just buying sooner.
Anyone else in a similar boat with their Gold IRA? Did you try to time the market and regret it, or did you just jump in and are now feeling pretty good about it? What's your strategy for adding more now that prices are so high? I'm debating another $20k but feeling hesitant again even though I know I shouldn't be.