By Terry Savage on January 06, 2024 | Investments

What are your thoughts of transferring 401K into gold? And who would you recommend to by gold from?

Terry Says

Are you talking about gold coins, bullion, or stocks??
Remember gold doesn’t pay interest — so it’s essentially “dead” money waiting for a disaster. And in a disaster, no one is going to turn on your electricity or sell you the last loaf of bread or gallon of water for your gold coin!
Gold mining stocks, on the other hand, typically pay dividends — and are an easy way to invest in gold. Likely your 40l(k) plan doesn’t offer a gold mining mutual fund — but if there is a “brokerage” option inside your plan, you could use your 40l(k) funds to buy gold stocks or a gold mutual fund.
If you’re retired, you could roll over your old 40l(k) plan into an IRA rollover at a place like Fidelity or Vanguard, where they offer gold mutual funds.

But absolutely DON”T take your money OUT of your 40l(k) to buy any form of gold. If you want to buy gold coins or bullion, seek a registered numismatist– not the crazy ads that run on cable tv late at night! Search at the website of the American Numismatic Association —



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