Investing in gold
Hello!
I have some extra savings I am trying to invest for long term. I’ve been interested in buying gold bars. What are your thoughts on investing on gold or should invest on a CD/Roth ira, etc.
Thank you!
Terry Says
You are asking two different questions here.
First, you decide if you qualify to open an IRA, traditional or Roth, with earned income.
Second, you get to decide on the investments INSIDE your IRA.
It’s difficult, but not impossible, to get an IRA custodian to hold your gold bars, if that’swhat you choose. Then, if you are 73 or older, you’ll have to sell some in order to take your RMDs.
So if you want to buy gold inside an IRA, I suggest gold mining mutual funds (see Fidelity or Vanguard) or simply the ETF (exchange traded fund) that tracks the price of gold instantly. Symbol GLD, which you can buy inside an IRA or just in a regular brokerage account.
