Protect Your Retirement Savings – Fight Inflation With Gold
The dollar just isn’t worth what it used to be, and as time progresses, its value seems to be decreasing – or plummeting – at an alarming rate. If you’ve been setting aside the same amount into your 401(k) or IRA for the past decade, it is very possible that you could arrive at retirement age without enough money to see you through the first year, let alone the following 30. So, what can you do?
You can make sure you have a solid inflation hedge. You can buy gold.
How to Triumph Against Inflation
Cash is intrinsically incapable of combatting inflation. As we’ve seen, its buying power is continually diminishing; if you put aside $1000, in 25 years’ time, you may find that that $1000 can only buy you a fraction of the same goods that it can today. However, hard assets like gold, commercial real estate property, and farmland have inherent value – value that can protect you and your future against the plunging value of currency.
Gold has consistently stable buying power. While, unlike other assets, it doesn’t typically increase in value dramatically, it also generally doesn’t lose its purchasing power. For example, if you were to buy $100,000 in gold in 1955, you wouldn’t merely have $100,000 today; you’d have a hard asset with the buying power roughly equivalent to approximately $900,000.
It is essential that your retirement savings can cover everything your annual wages currently cover (and more, ideally). By purchasing physical gold, you can increase your financial stability throughout your retirement years, even as global markets and interest rates fluctuate.