The United States economy is in a really scary place. The government refuses to provide much-needed stimulus to prop up small business owners and individuals who are struggling. The value of the dollar plummets as millions of people wonder where their next meal or paycheck will come from.
Even worse, after nearly 10 months of lockdowns, wearing masks, and social distancing, the economy hasn’t improved much. Some people went back to work, which is great, yet tens of millions are still out of a job.
Something has to give and it has to happen soon.
How is your retirement portfolio looking? Last February and March looked dismal for many stock market investors. The Dow Jones plummeted by nearly 40% and you likely lost close to half the value of your account. Did you wait for the rebound that eventually came or did you scare yourself out of the market?
Either way, there’s a unique opportunity to capitalize on the turmoil taking place right now. You see, opening a cryptocurrency IRA means protecting your financial well-being from the uncertainty taking place today. In fact, Bitcoin seems to thrive during a struggling economy if the past year has anything to say about it.
Are you ready to shore up your retirement portfolio? Now is the best time to begin investing in a cryptocurrency IRA. I’ll share some of my favorite reasons why I love this investment at the moment.
Or if you’re ready to get started, please click here to read about my top 3 favorite cryptocurrency IRA recommendations. I’ve reviewed each one for your benefit.
The US Dollar Is in a Bad Place Right Now
This may seem like I’m making it up but I’d never do that to my readers. The economy is in trouble and small businesses and individuals need stimulus. This requires printing more US dollars, which in turn devalues the dollar even more. Between the money the US has borrowed and all the money it’s continuing to print, the value is severely diminished.
This trend isn’t going to slow down anytime soon. In fact, under President-elect Joe Biden’s rule, things will continue to get worse. Not only will he print more money for much-needed economic stimulus, he’ll do it to fund other social programs.
Even worse, he intends to raise taxes by $4 trillion immediately. He plans this as one of his first acts upon entering the office of the President of the United States.
How does this bode well for you during your retirement? Truthfully, it isn’t very good. In fact, it’s downright disastrous. You’ve worked so hard your entire life to scrimp and save while making sacrifices the entire time. Now the Democrats plan to take your hard-earned wealth to build wind farms, solar panels, and electric cars!
Or you can approach things differently…
You can avoid paying taxes as much as possible through a cryptocurrency IRA. And instead of watching the value of the dollar plummet, you can move into cryptocurrencies like Bitcoin. This will not only preserve your wealth but it will help it grow by wide margins over the long term.
Remove yourself from the perils of democratic rule as much as possible. Invest in a cryptocurrency IRA and learn about the top three companies by reading my detailed review of these organizations.
Supply Limitations Are Intentional with Cryptocurrencies
Fiat currencies like the US dollar and others can print unlimited amounts. This may seem like a good thing on the surface but it’s actually a major negative. The more a currency is available, the less value it possesses.
As I’ve said numerous times already, the more they print the US dollar the less it’s worth. This isn’t going to make it easy for you to retire in comfort in your golden years. You have to move away from the overinflated supply of the US dollar.
The US isn’t the only country to possess a Fiat currency. Other recognizable and powerful nations also use this system. A Fiat currency means it isn’t backed by gold. It’s only backed by the good faith of the government printing it.
If the world loses faith in your government, your currency in turn loses its value. The countries that need to remain concerned about the possibility of the world economy devaluing their Fiat currency include:
- Australia and the Australian Dollar
- Belgium and the Euro
- China and the Chinese Yuan
- Finland and the Euro
- India and the Indian Rupee
- Mexico and the Mexican Peso
- New Zealand and the New Zealand Dollar
- Saudi Arabia and the Saudi Riyal
- South Africa and the South African Rand
- United States and the US Dollar
Is it likely that any of these currencies will disappear in the near future? Not really unless something seriously messed up happens that’s even worse than the coronavirus. But because of the unlimited supply, these currency values fluctuate and in a struggling economy this is often negative.
Bitcoin and other cryptocurrencies have a limited supply. The creator designed the currency this way. In fact, once all the Bitcoins are mined there will only be 21 million in existence. This means supply and demand will remain stable and the value will not fluctuate due to unnecessary printing.
There Are Unparalleled Tax Advantages to Opening a Cryptocurrency IRA
Cryptocurrency IRA account holders are privy to some really exciting tax advantages. Very few investments offer these tax breaks. In fact, the only way to get them is through a Traditional or Roth self-directed IRA.
This investment vehicle puts you in the driver’s seat as well. You get to choose the best way to make the most of these tax advantages. And you can initiate your cryptocurrency IRA rollover in the following ways:
- You can open a tax-deferred self-directed IRA account
- Or you can open a tax-free self-directed IRA account
The reason the account is tax-free is because you’re using income that was already taxed to fund the account. The tax-free account is a personal favorite of mine because of my financial situation. I’d rather pay my taxes ahead of time whenever possible. And then I’ll use the rest of the funds to grow tax-free wealth that I get to keep in retirement. At the time of my retirement I’d like to know exactly how much money I have available to spend. This setup gives me everything I want and so much more.
But there’s nothing wrong with a tax-deferred IRA account. It also has its advantages. One big advantage is using more of your yearly income to fund the account. By using money that hasn’t been taxed to fund the account, you’ll cut down on your yearly tax burden by a significant amount. Eventually you’ll have to pay taxes on this income in the future. But it only happens once you begin taking distributions anywhere from 59 ½ years old to 70 ½ years old.
Bitcoin Is the Hottest Investment Right Now
It’s hard to believe how lucrative Bitcoin has become since the coronavirus started kicking the economy’s butt. Less than two years ago Bitcoin was only trading for about $7000 per coin. It is currently trading for $19,275 per coin! That’s over $12,000 in value added in less than two years! That’s something to pay attention to my friends because this is the hottest investment this year. And it isn’t slowing down anytime soon.
I’d like to be real with you because I value my readers. At some point Bitcoin will eventually sell off in the near term. Every rally comes to an end and investors take profits. That’s how it goes now and that’s how it will go in the future.
Does that mean Bitcoin is a foolish investment? Heck no! It means you’ll have a chance to buy Bitcoin now. And in the near future you’ll have a chance to buy it on sale! And over the long term, this valuable digital currency will continue to grow and make you very wealthy in time.
Remember, Bitcoin is only one digital currency that you can invest in within a cryptocurrency IRA. Other popular options include:
This investment makes a lot of sense in today’s struggling economy. You’ll benefit tremendously by moving as far away from the US dollar as you’re comfortable with. Over time, you’ll realize that cryptocurrency is the safer and more secure way to contain your wealth.
Read my review of the top three cryptocurrency IRA companies in operation right now.
I shared this information today to keep you informed. Although, I may have scared you too if some of this is new to you. I’m not trying to make you fearful of the future and I definitely want you to feel comfortable in retirement. That’s why I went out of my way to share the reasons to invest in a cryptocurrency IRA right now.
These investments are going to grow whether you’re part of it or not. It’s time to take a chance on a no-brainer. It’s time to diversify your wealth for the 21st century.
Learn about the best cryptocurrency IRA brokers in business today. Read my detailed review and consider opening a self-directed IRA account as soon as possible.