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Seniors, Have you Protected your Retirement Savings with Gold / Silver ?

Updated on October 19, 2017
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Elderly Investors and Precious Metals

The downturn took its toll on people across the world no matter what their chosen profession but perhaps no group was so badly affected as those nearing retirement. By eroding the value of the savings that these elderly individuals had built up painstakingly over their career, the recession left them with too little to live on once they retire. With the economy yet to show significant recovery and equity remaining a risky asset at best, these investors are hapless to do much about the situation. All is not lost, though and elderly investors can take heart in the fact that neither gold nor silver has lost its sheen.

Precious Metals as Elder's Safe Haven Asset

One of the primary investment goals for older investors is to choose assets that will not be doomed to failure as soon as the economy takes a nosedive. Precious metals are the perfect solution. Both gold and silver have been consistent performers throughout history. Despite minor blips and drops, both metals have always regained their footing in the market very quickly and only moved on to post price increases. In fact, historically, gold is the only currency that has never failed. Even if the U.S. economy keeps floundering, investors who have substantial exposure to gold need not worry about their portfolio being wiped out.

Stock market versus gold

Over the past 12 years, the stock market has seen a 20% increase. Compare this with gold which has posted a 500% increase or silver which has fared even better with a 700% increase over the same period. Clearly, adding gold and silver to the retirement fund is the smartest move for older investors.

Precious metals in IRA

The government has made it only too easy to add gold or silver to your retirement savings by enabling investment in these through your IRA account. Simply include precious metals as part of your regular retirement savings in this account and by the time your golden years roll by you will have insulated your nest egg from the vagaries of the economy.

The best part of it is that since these metals are excellent stores of value, you need not worry about inflation wiping out the dollar’s purchasing power by the time you get to your retirement years. In fact, many market players believe that in the future, when the dollar has touched rock bottom, silver or gold may become the preferred ‘currency’. If this does come about, you already have a head start over the rest of the market if you start adding these metals to your portfolio right away.

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