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.

Why Open a Gold Ira? Here Are 4 Reasons

You have numerous retirement savings options to choose from, so why should you decide to open a gold IRA? Here are four reasons you should consider carefully.

Bonds might not offer the yields you hoped.

Although bonds are a popular retirement solution because they usually present lower risk than stocks, you may want to consider their yield upon maturity. Also, you may want to consider what kind of protection they offer against inflation.

You have inflation protection.

Even if you don’t trust banks and instead choose to hold your cash in a safe in your home, you’re still vulnerable to rising inflation. The $10,000 you squirreled away will still be there in 20+ years, but that same $10,000 won't have nearly the same purchasing power!

Gold, on the other hand, has historically maintained the same buying power, so the value of your savings will remain relatively the same over time.

Rising gold value is tax-deferred.

When you opt to roll over retirement savings from a traditional IRA or 401(k) into a traditional gold IRA, you can do so without accruing penalties.

Gold has been the monetary standard for all of human history.

For thousands of years, gold has been a universal symbol of wealth and stability. There is no currency system anywhere in the world that can match gold as a source of prosperity.

If you would like to learn how buying gold can help you reach your retirement goals, contact the team at Birch Gold Group for a comprehensive consultation today. Visit blog link for more details.

Safe Haven Assets: What You Need To Know

It is possible – according to many financial experts – that we could be at the beginning of a difficult economy. In 2008, the financial crisis left numerous Americans in absolute fiscal ruin, with their retirement savings and 401(k) accounts depleted. As we enter a new year having only barely recovered from the beating we endured not even 10 years ago, how do we protect ourselves against such dangerous economic fluctuations?

One answer: Safe haven assets. But, how do they work?

The Function of Safe Haven Assets

Safe haven assets aren’t necessarily going to make you wealthy in the blink of an eye. These are assets that retain – and maybe even increase – their value over the course of several decades, even during fiscal crises or periods of inflation.

Even cash itself isn’t a safe haven asset. Think about it – in the 1950s, you could buy a home for roughly $8,500. Today, the average home price is approximately $350,000. If you held on to your $8,500 from 1950, you’d have currency that had lost approximately 97% of its value!

What are the best safe haven assets?

While there used to be several categories of safe haven assets to choose from – government bonds, and the U.S. dollar were among them –one reliable safe haven asset that has stood the test of time is Gold.

Gold has universally agreed-upon intrinsic value. It is also a physical asset that doesn’t solely exist on paper; it’s a commodity you can hold in your hand. Historically, the value of gold has gone up in times of economic recession, because consumers know that it’s something tangible that has had remarkable spending power for nearly all of human history.

If you want to guard against economic turbulence and protect your retirement assets, contact the Birch Gold Group today to learn how having gold as a part of your savings can benefit you. Visit pinterest for more details.

Roll it on Over: Should You Transfer Your 401(k) to a Precious Metals IRA?

If you currently hold an employer-managed 401(k) plan from an old job, you might want to think about the benefits of opening, or rolling over to, a precious metals IRA.

Holding funds in an old 401(k) plan might not be as lucrative as you think. While many appreciate the ease of a 401(k), it has become an increasingly popular and financially sound long-term strategy to either roll over or transfer those retirement assets to an IRA; particularly a precious metals IRA. With the value of the dollar on the decline, making the transition might be one of the smartest retirement decisions you can make.

While holding a precious metals IRA may not be the right choice for everyone, it is nonetheless important to consider the many benefits of holding a precious metals IRA. First, let’s discuss the difference between a 401(k) and a precious metals IRA.

401(k) Vs. Precious Metals IRA

A 401(k) account is either an employer-sponsored or sole proprietor retirement account that allows people to invest a portion of their salary prior to taxation. These accounts usually contain a combination of stocks and mutual funds.

A precious metals IRA (Individual Retirement Account) is a self-directed IRA that allows the holder to purchase and/or invest in a broad scope of products using the monetary value of physical metals owned by the account holder. In 2015, IRAs held approximately $50 billion in what are known as “alternative” or “unconventional” assets. These are classified as items that have significant monetary value, such as private equity, precious metals, and real estate, yet are more difficult to liquidate than paper assets, like stocks and bonds.

401(k) Contributions: If you are still with the employer that sponsors your 401(k), in 2017, the holder of a 401(k) account could contribute a maximum of $18,000 (including employer contributions) annually if the account holder is 49 years of age or younger. After the age of 50, the maximum annual contribution is $24,000.

For account holders over the age of 50 that are still with the employer sponsoring your 401(k), it is possible to make up for an under-the-maximum contribution with a “catch-up” contribution the following year of up to $5,500, which is not counted towards the standard maximum contribution. So, if your contribution one year is $20,000, the contribution the following year can be $26,000.

For 401(k)’s with a current job, an employer can match the account holder’s contribution up to 6 percent.

Precious Metals IRA Contributions: In 2017, the holder of a precious metals IRA could contribute a maximum of $5,500 annually if the account holder is 49 years of age or younger. After the age of 50, the maximum annual contribution is $6,500.

Account holders over the age of 50 who make contributions under the yearly limit can make a “catch up” contribution of up to $1,000.

There are numerous reasons why it could be beneficial to move your funds out of a 401(k) from an old employer and open a precious metals IRA.

Diversification Options

Typically, holding a 401(k) account limits your options when it comes to investments. Account holders looking to broaden their choices find that their 401(k) plans are quite conservative; the point is to mitigate risk with the goal of hitting a particular target over the course of several decades. Moreover, it is likely the account advisor – not the account holder – who oversees the choice of investments.

A precious metals IRA account, however, allows for greater control by the account holder in terms of asset classification. A precious metals IRA can hold gold, silver, platinum, and palladium; more broadly, because it falls under the umbrella of a Self-Directed IRA, it can also hold real estate, stocks, and privately-held companies.

However, some account holders – particularly those who are already close to retirement – might be concerned about increased risk. While there might be greater risk associated with the types of assets held in a precious metals IRA, the reward will be considerably greater than what could be achieved with a comparatively conservative 401(k) plan. Moreover, precious metals can act as a safe haven asset against poorly performing stocks.

Early Withdrawal

Both 401(k) accounts and IRAs allow for early distribution. During times of financial crisis, or personal or medical emergencies, you might require access to your retirement savings. While it is possible to borrow against your 401(k), if you make an actual early withdrawal, you would have to pay state and federal taxes as well as a 10 percent penalty (unless you are experiencing a hardship as outlined by the Internal Revenue Service).

A precious metals IRA, on the other hand, offers greater flexibility for the account holder. Although taxes will still apply, in some cases, you may take an early distribution of a portion of your retirement funds without being penalized (when you first buy a home, or for higher education expenses). However, you will have to pay state and federal taxes.

Easy accessibility isn’t without a downside, however. The difficulty in withdrawing from a 401(k) account can sometimes act as an incentive to leave it untouched. The ease of taking funds from an IRA, on the other hand, might cause some to use it frequently and inappropriately, significantly compromising the potential for growth in the long run.

Flexible Financial Solutions

An employer-sponsored 401(k) account is managed by an account advisor who is working with only a fraction of the investment options available to precious metals IRA holders. Precious metals IRAs offer a far more customizable suite of assets than 401(k) accounts.

Nevertheless, a precious metals IRA requires greater participation from the account holder than a 401(k). The 401(k) account is set up with a precise retirement goal in mind, which many holders find safer and more convenient.

What’s Right for You?

Some holders of a current employer-sponsored 401(k) might not be able to roll over into a precious metals IRA until after the age of 59 1/2. Additionally, if you’re participating in an employer-match contribution plan, you’ll likely want to keep taking advantage of the matching funds.

However, if you’re carrying a 401(k) plan from a previous employer, or if you’ve recently retired, it could be to your advantage to consider rolling over your 401(k) into a precious metals IRA. With the possibility of a more lucrative and flexible options with a precious metals IRA, you may find yourself at a significant economic advantage. Furthermore, holding physical precious metals might prove to be a wise move, considering the current lack of stability in the global economy, and the weakening U.S. dollar.

Ultimately, having a precious metals IRA – even in addition to a 401(k) plan – will increase your chances of long-term security while opening you up to the possibility of a significant return.

If you have any questions about rolling your 401(k) account into a precious metals IRA, please contact the team at Birch Gold Group for a thorough consultation.

Opening a Precious Metals Ira? Here’s 3 Questions You Need To Ask

Precious metals IRAs are exceptional vehicles for protecting your retirement savings. However, it is still important for you to act as your own advocate. Make sure you ask these questions before you open a precious metals IRA.
Having a diversified retirement portfolio is generally considered a sound financial decision, and gold IRAs offer additional security, since many investment options for conventional IRAs have tremendous inflation vulnerability (gold prices tend to run in the opposite direction of stocks and bonds). Nevertheless, many brokerage firms don’t offer gold IRAs because it’s such a specialized area within the world of finance. Here are some questions you need to ask before considering a gold IRA.

How much does a gold IRA cost?

Generally speaking, the fee structure for gold IRAs is significantly less complicated than they are for standard IRAs, but it is nonetheless crucial to understand what that will mean for you, the account holder. The prices for precious metals IRAs vary, but they exist to cover expenses such as insurance, storage, and account access. Make sure your firm delineates the exact costs of your IRA, so that you don’t have any unpleasant surprises later on.

Do you have all of the appropriate certifications?

When it comes to gold and precious metals, it is extremely important to know if your custodian and depository have all of the proper qualifications and insurance. You don’t want to work with any companies that won’t prioritize the protection of clients’ investments. Make sure your transaction is insured.

Where are my metals stored?

While you might want to take custody of your precious metals and store them in your own home, most experts will tell you that this is a very gray area of the IRS code, since a third-party must verify the value of the metals and report it to the IRS. In order to comply with the IRS, the account holder must adhere to an elaborate network of regulations, or risk losing approximately 35 percent of the value of your savings. The facility where your precious metals are stored must be secure, private, and IRS-approved.
For more information on buying precious metals or opening a precious metals IRA, contact the professionals at Birch Gold Group. Visit blog link for more information.

Can You Rely On Social Security? Probably Not

Social Security—the supposed retirement-years safety net—is becoming less and less reliable as the population ages. What can you do?


While Social Security never provided a luxurious retirement, in years past it was—at least—a fairly reliable safety net for retirement-aged persons. However, its reliability has diminished significantly as the workforce erodes and alternative retirement funds gain favor. Although the vast majority of beneficiaries rely upon Social Security as the bulk of their income, it has been predicted that Generation X and millennials will receive significantly reduced payments when they reach retirement age.

So, how can you make sure that you won’t receive the short end of the Social Security benefit stick?

Don’t wait until middle-age to think about retirement savings.

How many of us concern ourselves with retirement when we’re in our 20s? Nevertheless, if you can start planning for your future when you’ve just graduated from school, your savings will have ample time to generate gains.

Don’t claim benefits early.

The longer you wait to claim your benefits, the more you’ll get. People who claim their Social Security benefits at age 62 (while continuing to work) permanently reduce their benefits by approximately 30 percent.
Waiting as long as possible makes fiscal sense. If you can wait, you can increase your payout by 8 percent annually. Ideally, try to wait until age 70. (Unless, of course, if you have medical conditions that prohibit you from waiting that long.)

Think about supplementing your retirement with tangible assets.

Do your absolute best to take your future needs into account. As we age, we have medical conditions, lifestyle obligations, and familial responsibilities that become increasingly difficult (if not impossible) to negotiate on reduced income. Tangible assets – such as income-earning property, real estate, and precious metals – provide an alternate source of security that can diversify your savings.
If you have questions about how physical gold can fit in to your retirement savings, contact the experts at Birch Gold Group to discuss your options. Visit blog link for more information.

Why Precious Metals Should Be In Your Retirement Portfolio

If you haven’t given much thought about your retirement portfolio, then you should definitely start by considering precious metals.

If you plan on retiring—which most of us do—then you’d be well advised to give the contents of your retirement portfolio some serious consideration. Your strategy should be flexible enough to adjust for income fluctuations and variable market conditions, and precious metals offer the kind of dynamic stability that can help you meet many economic challenges.

Precious metals, particularly gold and silver, provide measurable growth opportunity and can also help to protect the rest of your savings from any economic downturns. Gold and silver are widely considered safe haven assets. This is because neither commodity can actually be manufactured by a national bank, so government policies don't directly influence their value. This being the case, they can help to act as a counter to other assets in your retirement savings.

Moreover, if you purchase gold and silver for an individual retirement account with pre-tax income, your tax burden will be lower than if you were to purchase precious metals outside an IRA.

Ultimately, your physical precious metals are yours to do with as you choose. You can keep your holdings at the storage facility you select; withdraw your gold or silver and hold it in its actual physical form; or have a check of its market value drafted.

If you are considering purchasing precious metals through a precious metals IRA, please contact the experts at Birch Gold Group for a comprehensive consultation today. Visit Facebook page for more information.