For those wondering how to buy gold bars, it’s always necessary to stress the importance of the buying process.
You see, there’s a wrong way and a right way to buy gold bars.
To help you better understand my thinking, I’m going to tell you things to avoid when buying gold bars. And I’ll also share my favorite method for purchasing gold bars, gold coins, or any other types of precious metals.
And the best part?
You’ll never have to worry about screwing up the gold bar buying process again.
You’ll never need to feel inadequate or uneducated about this topic.
And you’ll finally learn the truth about purchasing precious metals.
I’ll give you a hint:
It’s best to focus on buying precious metals like gold bars for your retirement. You’ll receive tax benefits and other advantages that other buying methods will not provide.
Hang around a little longer and keep reading. You’ll learn about buying methods to avoid, my favorite gold IRA investment strategy, and a whole lot more.
The Disadvantages of Buying Gold Bars Without a Precious Metals IRA
When you purchase gold bars through a classified ad or another method, you risk experiencing the downsides of owning gold.
Without a reputable gold company in your corner, you’ll potentially suffer from making foolish mistakes and dealing with ill effects.
Some examples include:
- Having a tough time selling your gold. The great thing about working with a reputable broker is you never have to face liquidity problems. The gold company will gladly repurchase your gold through their buyback program.
- Poor recommendations from your stock market broker. They’ll convince you to buy gold stocks, mining stocks, and gold ETFs. These investments have the potential to earn big money. But owning physical gold is much better than owning a stock certificate.
- Daytrading gold stocks and ETFs isn’t necessary. In fact, it’s far from the wisest choice. Timing the stock market is next to impossible. You may end up paying a premium, only to watch the value of your investment drop like a rock.
Clearly, working with a reputable precious metals company definitely has its advantages. And failing to do so has big disadvantages.
I want all of my readers to experience the benefits of owning a gold IRA. Please read my review of the top gold brokers doing business today. Use this handy guide to find the perfect gold company to work with to meet your retirement needs.
Why Should I Open a Precious Metals IRA to Buy Gold Bars?
Some people foolishly believe that they can buy gold bars and throw them in a drawer or a home safe. They think this is the smartest way to invest.
But the truth is very different…
Precious metals IRA accounts provide tremendous benefits to the account holder. Some of the major benefits that account holders experience includes the following:
- Portfolio diversification is paramount to your success. Many people invest in stocks and bonds in their 401(k) or IRA. But they fail to properly diversify their investment assets. When difficult economic times hit, their portfolios usually lose massive value relatively quickly. A well-diversified portfolio packed with physical gold bars will balance out your negative investments during difficult economies. This diversification means losing less money while making more money when other investors are seriously struggling.
- Economic difficulties springboard to massive growth. Gold bars tend to gain value during difficult economic times. And this most recent pandemic and the economic problems that it has caused have followed suit. The value of gold is steadily rising and it’s on the verge of breaking $2000 an ounce again. This will continue as long as the economy remains in turmoil. The price of gold during the recent housing crash in 2008-2009 moved upward along the same trajectory. This is proof that gold will remain strong through good times and bad.
- Gold bars act as an insurance policy protecting your wealth. The US dollar is losing value every day. And the powers that be – the Federal Reserve – will continue to devalue the US dollar even further. Why? They are attempting to stem the tide of the economic collapse caused by the pandemic. They print money fairly regularly to stimulate the US economy. Case in point: the $600 you likely received was recently created by the Federal Reserve. It adds to our national debt and dilutes the value of the US dollar all at the same time. Gold bars and other precious metals investments are gaining value as the US dollar struggles. Investing in this powerful asset will allow you to retain your wealth for the long-term.
- Grand full control of your financial destiny. It’s time to stop relying on other people to help you accumulate wealth. They never have your best interest in mind anyway. They’re more interested in making commissions off of your hard-earned money. Opening a gold IRA puts you in the driver’s seat of your financial future. It’s the best thing possible to grow and preserve your wealth at this time.
Please click here to read a review of the top gold IRA companies in the industry right now.
4 Gold Bars Buying Methods to Avoid like the Plague
You’re preparing for retirement and you’re looking to grow your wealth even faster through alternative investments.
You’ve decided that buying precious metals like gold bars and silver coins is a good idea. It’s one way that many people expand their wealth in a safe and effective way.
But how do you buy precious metals most effectively? Even better, which buying methods should you avoid to prevent making a serious and costly mistake?
Personally, I believe you should avoid the following at all costs:
- Purchasing gold from Craigslist ads. It may seem like a good idea on the surface, but this buying method leaves you very vulnerable. Craigslist is unfortunately filled with people looking to scam gullible victims. It’s possible you may end up buying gold bars that are 100% fake. You’re much better off buying precious metals from a reputable broker through your gold IRA account.
- Purchasing gold from eBay users. Just like Craigslist, it’s good business to avoid buying precious metals from eBay. You never know who is behind the online listing. You might end up buying gold from a complete scammer looking to steal your hard-earned money. Plus, you’ll likely wind-up buying gold, silver, or other precious metals that aren’t IRA eligible. So, you won’t experience the tax benefits and other advantages of a gold IRA.
- Purchasing gold that “fell off the back of a truck.” This might be the worst way to buy gold bars and other forms of precious metals. These gangster types aren’t known for making good deals with regular people like you and me. In fact, they’re known for quite the opposite. They’re willing to do whatever it takes to earn a quick and easy buck. Even if it happens at your expense. Never trust back alley deals or precious metals that fell off the back of a truck because they’re likely fake.
- Purchasing gold from newspaper classified ads. Like Craigslist, buying gold bars from classified ads in the newspaper will undoubtedly lead you down a bad path. Are you an expert gold buyer? If not, it will be very easy to scam you and sell you fake precious metals. Unless you’re a gold buying expert, I would avoid buying from classified ads at all costs. Plus, you always have to remember to buy IRA eligible precious metals. Otherwise, you won’t receive the retirement account advantages that really make this investment worthwhile.
Take a moment to read my review of the top gold companies in the industry right now. Every one of these companies has a great reputation and longevity in the industry.
The Ideal Way to Buy Gold Bars
It’s pretty simple…
I want you to buy gold bars through a gold IRA account.
There are many advantages to buying physical gold bars for your retirement. Some of the major upsides include:
- Owning a tangible asset. Many investments consist of numbers on your computer screen like stocks, mutual funds, and 401(k) investments. Buying gold bars means owning a physical asset. You can take possession of this asset during the worst of times. And you can use it to pay for goods and services if need be. That’s definitely worth considering.
- You can’t hack physical gold bars. But computer hackers can certainly steal your investments in your mutual funds, stock market brokerage account, and other accounts. When all is said and done, unless they can break into a secure vault, hackers will never steal your physical precious metals investments.
- Gold bars are easy to carry with you. Again, this is a great opportunity when things get really bad. If the US dollar were ever to collapse entirely, you’ll appreciate owning physical gold. You’ll still have a way to pay for things when others won’t.
At this point, you should understand how to buy gold bars the right way. And I also told you about the ways to avoid getting burned by shady business dealings.
Are you ready to heed my advice?
If so, I’d like to direct your attention to my review of the top gold companies in this industry. These companies have proven their mettle throughout the years. They’re trustworthy, informative, friendly, and have top-notch personnel to answer all of your questions and concerns as they arise.