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.

For more details on how a Precious Metals IRA can help you meet your financial challenges and achieve your retirement goals, contact the experts at Birch Gold Group for a thorough consultation today. Visit facebook page for more details.

Dreaming Of Early Retirement? A Few Factors To Consider

Many of us fantasize about leaving the stress and aggravation of our 9-to-5 jobs and simply living the lives we want. While winning the lottery or inheriting millions of dollars from a long-lost relative probably aren’t sound financial strategies, it is possible to retire early if you make a series of reasonable, pragmatic decisions.

Downsize your lifestyle significantly.

If you want to live the rest of your days in the lap of luxury, then you might need to win the lottery. However, if a lavish lifestyle isn’t important to you at all (but managing financial pitfalls is), you can take stock of your spending habits and assets and determine what you’ll need for food, shelter, and healthcare, and go from there.

Firstly, calculate your current spending rate, since it will determine how much you’ll need to save. Figure out what you will be able to eliminate simply by no longer working (cost of commuting; professional association fees). Next, determine which expenses you can simply eliminate (cable television; lattes). Finally, investigate where you could be over-spending (cell phone plans; expensive grocery stores; car payments and maintenance).

Work towards paying off your debt.

This is probably the single biggest hurdle to overcome when planning for an early retirement. While it might be wise – in some circumstances – to keep a mortgage if the funds can be used to invest in lucrative financial markets, you should nonetheless do your best to pay off other outstanding debt that can’t be successfully leveraged, like student loans and credit cards.

Plan for medical expenses.

The second biggest hurdle for many Americans is anticipating the cost of healthcare during retirement – and now that the Affordable Care Act is under threat, it’s nearly impossible to know what mandates will be available.

Because the cost of health care has historically risen faster than the inflation rate, it is important to calculate your health-related expenses at an increase of approximately 5 percent per year. Also, investigate different supplemental insurance plans as well as the benefits of a Health Savings Account.

To learn more about how purchasing precious metals may be able to preserve your savings in retirement, contact the experts at Birch Gold Group for information on how a gold IRA could benefit you. Visit twitter page for more details.

Think You’Ve Got Your Retirement All Figured Out? Think Again – 3 Major Retirement Mistakes

If you’ve gotten a head start on your retirement savings, congratulations! You’re well ahead of the curve – particularly if you’re under 40. However, your 401(k) contributions and your IRA might not solve all of the issues you may encounter when you reach the magical age of 65. Here are a few factors that you’ll want to consider when planning for your retirement.

Not considering the costs of significant medical care.

Major medical events can wipe out retirement savings quickly and easily. One study conducted by HealthView Services found that the cost of healthcare for seniors who’ve begun their retirement in 2015 may range between $290,000 and $400,000 per couple – and that’s not factoring in out-of-pocket costs not covered by Medicare Parts B and D. Medical calamities could place a tremendous burden on retirement savings.

Also, the costs of assisted care for those who’ve suffered a mental or physical disability can be absolutely devastating. Make sure you investigate long-term care insurance plans.

Believing that you’ll be able to work past retirement.

Even if you’ve been at the same organization for most of your working life, it’s unwise to assume that you’ll still have a place even as you enter retirement age. Whether it’s because the business downsizes or closes, or if you suddenly have to retire due to health or familial obligations, it is very possible that retirement could be forced upon you.

Failing to diversify your portfolio.

If your retirement portfolio is mostly stock in the organization for which you work, you could be in for trouble. It’s easy to keep your finances tied to a company you know and trust, but if your company fails, your nest egg will shatter.

A well-diversified portfolio should contain physical assets as well as stocks, bonds and mutual funds. Gold and other precious metals can help to protect your savings with the kind of long-term security you can rely upon when other markets take a significant hit.

If you are interested in purchasing gold or precious metals, contact the professionals at Birch Gold Group for a thorough consultation.