Between Nov. 30, 2007, and June 1, 2009, the S&P 500 index fell 36%. The price of gold, on the other hand, rose 25%. Do the quick math and you'll see that gold outperformed stocks by more than 60 percentage points. This was the most recent example of a material and prolonged stock downturn, but it's also a particularly dramatic one because, at the time, there were very real concerns about the viability of the global financial system.
An individual can invest in gold not only by opening a new self-directed gold IRA, they can also move their retirement accounts such as 401(k) and other traditional IRAs to a gold-backed IRA. This helps you to diversify your investment portfolio and preserve your wealth in a secure manner. With a Gold IRA, an individual is rescued from the worry of losing their hard-earned money due to inflation and stock market crises.
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It is quite common that employees cannot rollover any portion of their 401k as long as they are still employed. However, in a fair number of plans, a still-working employee can be permitted to do an “in-service rollover” once they achieve 59½ years of age. The number or frequency of such events can vary dramatically between retirement plans. Some plans don’t permit in-service rollovers of any kind and a smaller number of plans make employees wait until achieving 70½ years of age, at which time required minimum distributions (RMD) take effect anyway.
There are a variety of retirement accounts which are eligible for a Gold IRA conversion – however, ideal accounts include: Traditional, Roth, SEP, or Simple IRAs. Non-IRA accounts can also be converted to gold, accounts that may be eligible for a rollover include: 401(k), 403(b), 457(b) Deferred Compensation Plan, Pension Plan, Thrift Savings Plan, TIAA CREF, Non-Prototype IRA, and Beneficiary IRA. Consult with one of our helpful advisors for more information.
To get in on the movement in gold prices, there are plenty of options beyond investing in gold-indexed exchange-traded funds (ETFs) or purchasing a stash of the precious metal. Some of the hottest gold stocks for 2018 are mining and exploration companies. These top gold and gold mining stocks could be a good way to gain exposure to the market in the latter part of this year. All figures are accurate as of October 15, 2018. (See also: What Drives the Price of Gold?)