Asked anonymously

Where do you find banks or credit unions that offer Gold IRA? I am interested to learn more about this Gold IRA.

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  2

October 20, 2014

Here is my opinion -- gold is a terrible investment. It has no intrinsic return. Yes in an extreme market crisis, it can do well for a short while. Create a boring, balanced portfolio of stocks and bonds using low fee index funds and you will do significantly better over the long term.

$commenter.renderDisplayableName() | 01.23.21 @ 16:15


March 31, 2016

First off, Gold can be a terrible investment unless you understand it and leverage it to your advantage.

As of Now, April 2016, Gold (GLD) is up 16% YTD. If you bought GLD 5 rs ago, you would have a negative return.. If you bought GLD 10 yrs ago, you would be at break-even-NO gain, no loss.

A deeper question is. Why do you need Gold? If you live in the US and the U.S. Treasury ceases to exist. Gold could be a great investment-Of course you will also have many other things to worry about. Now if you live in a hyper-inflation type country where Gold is preferred. This may be an advantage. Again, there are also, many other things to worry about.

On your next point- What banks or credit unions offer a Gold IRA? You can easily open a self directed IRA with a brokerage. IRA's do have limitations. Rather than physical Gold, you could use GLD (an ETF) if you must have a Gold product. Keep in mind, whatever you put in an IRA or in any investment, you need to understand everything about what you are investing in and why. This is also important if someone else invests your money for you.

Some questions for you:
Where are you Financially?
Where do you need to be Financially?

I invite you to contact me directly to discuss anything further. No obligation

It's not what you make, It's what you keep that determines your lifestyle.

$commenter.renderDisplayableName() | 01.23.21 @ 16:15