There’s always risk in everything. In today’s markets, not investing in precious metals can be a huge risk. However, please remember that gold and silver prices can be volatile, so think through the following questions carefully:
- How much available cash do you have? Remember, buying and selling precious metals frequently can be more hassle than other electronic investments. Try to keep a reasonable supply of cash or available funds on hand to avoid selling your precious metals before you planned.
- What is your desired holding time for precious metals? If you are investing for less than a few years at a time, we recommend becoming very familiar with the history, trends, and movement of precious metal prices so you don’t get caught buying high and selling low.
- Will you have access to my precious metals when you are ready to sell? We recommend storing precious metals somewhere readily available. Be careful with depositories, and even bank safety deposit boxes. (Remember, IRA investments are required to be held by a 3rd party depository, so don’t expect to be able to store your IRA investment in precious metals under the corner of your mattress.)
Of course, our lawyers want us to remind you one more time that investing in gold in silver always involves risk, and Cornerstone is not a registered financial advisor, so you always need to do your own research before making any investment decision.