How to Guard Your Wealth From A Potential Banking Crisis with Gold
2022’s bear market taught many Americans the importance of diversifying their portfolios. Now, this lesson is more relevant than ever.
As news about banking instability sparks fear about how far it will go, people are turning to precious metals such as gold and silver as a fallback in case of further bank collapses. This week, Lear Capital, a leader in precious metals IRAs, reported the highest demand in three years.
If you could use a precious metals safety net, there are two common ways to build one.
The first way is to buy stock in a precious metals company or invest in an exchange-traded fund that tracks a precious metals index.
But there’s a second way that’s growing in popularity, and it allows you to own actual physical precious metals in your retirement portfolio rather than just shares of an ETF. You can set up a specialized precious metals IRA.
Once a cumbersome process, setting up a precious metals IRA – and even rolling over funds from another retirement account – is now fast and easy. For example, opening an account with Lear Capital just requires you to fill out a 10-minute application form. A specialist walks you through the set-up process and arranges a tax-free rollover from another account if desired. Transfers of funds usually take around five days.
Once funds show up in your account, you’re ready to choose from bullion, that classic American Gold Eagle coin, and a wide range of other metals. Once purchased, your metals are stored safely in a depository vault and are insured for added protection.
Lear Capital has helped investors diversify with precious metals for 25 years and has earned a AAA rating from the Business Consumer Alliance with more than 90,000 customers.
To make things easier, Lear Capital offers a precious metals investor kit so you can learn more about the process and why precious metals can be a strong choice when diversifying your portfolio.
When you invest with Lear, you also get a 24-hour risk-free guarantee. Lear sends you an invoice guaranteeing the price and quantity of your metals and you can review it for 24 hours. If you decide not to buy, the purchase is released and there’s no obligation to pay.
If the news of bank failures is causing stress, consider a Gold IRA to guard your wealth. Lear Capital offers a free wealth protection guide for those who are interested.
Abigael Good contributed to the writing of this article
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