WEBVTT 00:00:00.000 --> 00:00:03.120 All right, so you're here because gold IRAs have 00:00:03.120 --> 00:00:04.860 piqued your interest, and that's exactly what 00:00:04.860 --> 00:00:07.440 we're diving into today. We're gonna be dissecting 00:00:07.440 --> 00:00:10.220 this whole idea of investing in precious metals 00:00:10.220 --> 00:00:13.240 for retirement. Specifically, we're gonna be 00:00:13.240 --> 00:00:15.900 looking through the lens of this. a pretty comprehensive 00:00:15.900 --> 00:00:19.500 guide that we found by Doug Young. He's got over 00:00:19.500 --> 00:00:22.420 two decades of experience with financial investing 00:00:22.420 --> 00:00:24.660 commodities, precious metals, the whole nine 00:00:24.660 --> 00:00:26.660 yards. Wow. That's a lot of time in the market. 00:00:26.800 --> 00:00:29.000 Yeah. So we're going to try to distill his expertise 00:00:29.000 --> 00:00:32.960 and give you a clear picture of You know, is 00:00:32.960 --> 00:00:35.399 this the right move for you? Is a gold IRA something 00:00:35.399 --> 00:00:38.560 that makes sense for your financial future? Absolutely. 00:00:39.159 --> 00:00:41.719 So consider this your shortcut to understanding 00:00:41.719 --> 00:00:44.799 gold IRAs. OK. So maybe we could start off with 00:00:44.799 --> 00:00:46.500 like a really basic definition. Definitely. What 00:00:46.500 --> 00:00:48.719 exactly is a gold IRA? You got it. So basically, 00:00:48.840 --> 00:00:51.200 it's a self -directed individual retirement account. 00:00:51.359 --> 00:00:53.460 OK. And what makes it special is that it lets 00:00:53.460 --> 00:00:56.899 you hold physical gold and silver platinum palladium. 00:00:57.340 --> 00:01:00.409 Oh, so it's not like a an ETF or something that's 00:01:00.409 --> 00:01:02.369 tracking those prices. Right. It's the real deal. 00:01:02.670 --> 00:01:05.510 Gotcha. So you're actually holding tangible assets 00:01:05.510 --> 00:01:09.150 as part of your retirement savings, which is 00:01:09.150 --> 00:01:11.290 quite different from your typical stocks and 00:01:11.290 --> 00:01:13.230 bonds. Yeah. I mean, it's kind of cool to think 00:01:13.230 --> 00:01:15.909 about having like real gold as part of your retirement 00:01:15.909 --> 00:01:18.290 plan. Definitely has an allure to it. OK, so 00:01:18.290 --> 00:01:19.890 we kind of have a basic understanding of what 00:01:19.890 --> 00:01:23.109 it is. Yeah. What would you say makes it really 00:01:23.109 --> 00:01:26.349 fundamentally different? OK, so one of the big 00:01:26.349 --> 00:01:29.969 things that Doug Young highlights is this concept 00:01:29.969 --> 00:01:33.310 of diversification. Okay. And we hear that word 00:01:33.310 --> 00:01:35.590 a lot in investing, right? Yeah, diversification, 00:01:35.650 --> 00:01:37.489 don't put all your eggs in one basket and all 00:01:37.489 --> 00:01:40.069 that. Exactly. But what's really interesting 00:01:40.069 --> 00:01:44.989 about gold is how it behaves compared to traditional 00:01:44.989 --> 00:01:48.349 assets. Okay, how so? Well, you know, sometimes 00:01:48.349 --> 00:01:51.189 when the market takes a hit, a lot of assets 00:01:51.189 --> 00:01:53.129 tend to move in the same direction. Right, they 00:01:53.129 --> 00:01:56.099 all go down together. Yeah. But gold historically 00:01:56.099 --> 00:01:58.859 has this tendency to sort of march to the beat 00:01:58.859 --> 00:02:01.819 of its own drum. Oh, interesting. So it can zig 00:02:01.819 --> 00:02:04.659 when everything else zags. Huh. And that's a 00:02:04.659 --> 00:02:06.620 different kind of hedge. Yeah, you're not just 00:02:06.620 --> 00:02:09.180 diversifying across different types of stocks 00:02:09.180 --> 00:02:11.000 or whatever. You're diversifying into a whole 00:02:11.000 --> 00:02:13.599 other asset class. Exactly. And you're holding 00:02:13.599 --> 00:02:16.180 something tangible, something real. That's a 00:02:16.180 --> 00:02:18.879 good point. It's like having this this anchor, 00:02:19.180 --> 00:02:21.479 you know, this stable element when things get 00:02:21.479 --> 00:02:23.120 a little rough. All right. So, you know, I'm 00:02:23.120 --> 00:02:26.069 thinking about maybe dipping my toes into this 00:02:26.069 --> 00:02:28.969 gold IRA thing. What are some of the things that 00:02:28.969 --> 00:02:31.530 Doug Young says I absolutely need to know before 00:02:31.530 --> 00:02:33.870 I even start looking into this? Good question. 00:02:34.349 --> 00:02:36.909 So there's some really practical considerations 00:02:36.909 --> 00:02:41.490 here. And the first one is storage. So unlike 00:02:41.490 --> 00:02:44.710 your stocks that you can track online, you can't 00:02:44.710 --> 00:02:46.830 just store physical gold anywhere. So where does 00:02:46.830 --> 00:02:49.830 it go? The IRS has very specific rules about 00:02:49.830 --> 00:02:53.349 this. It has to be held in an IRS approved depository. 00:02:53.599 --> 00:02:55.819 What is it, like a special vault or something? 00:02:55.900 --> 00:02:58.800 Yeah, basically it's a secure facility designed 00:02:58.800 --> 00:03:01.500 specifically for storing precious metals. Huh, 00:03:01.620 --> 00:03:03.340 interesting. And of course, those facilities, 00:03:03.599 --> 00:03:05.159 they come with their own costs. There are storage 00:03:05.159 --> 00:03:07.719 fees involved. Yeah, makes sense. I mean, they've 00:03:07.719 --> 00:03:09.300 got to keep the lights on and keep it secure, 00:03:09.460 --> 00:03:12.280 right? Exactly. OK, so storage, that's one thing. 00:03:12.280 --> 00:03:14.659 What else? So the second thing is purity. Purity? 00:03:14.860 --> 00:03:18.020 Yeah. So the gold you put into an IRA, it can't 00:03:18.020 --> 00:03:20.539 just be any old gold. Right. It has to meet certain 00:03:20.539 --> 00:03:23.830 standards set by the IRS. Like carrot. Yeah, 00:03:23.990 --> 00:03:27.210 so for gold specifically, it needs to be 99 .5 00:03:27.210 --> 00:03:31.770 % pure to qualify. Wow, so almost completely 00:03:31.770 --> 00:03:34.629 pure gold. Yeah. Okay, so storage purity, what's 00:03:34.629 --> 00:03:37.770 number three? This one's crucial. You need to 00:03:37.770 --> 00:03:41.069 choose a reputable gold IRA provider. Okay. So 00:03:41.069 --> 00:03:44.169 they act as the custodian for your account. handling 00:03:44.169 --> 00:03:45.949 all the administrative stuff and making sure 00:03:45.949 --> 00:03:48.129 you're following all the IRS regulations. Okay, 00:03:48.150 --> 00:03:50.050 so it's not like I can just go buy some gold 00:03:50.050 --> 00:03:52.370 coins and stick them in my safe deposit box. 00:03:52.469 --> 00:03:53.930 No, it's a little more complicated than that. 00:03:53.930 --> 00:03:56.009 Gotcha. You need a provider who knows the ins 00:03:56.009 --> 00:03:59.930 and outs of gold IRAs. Makes sense. Alright, 00:03:59.949 --> 00:04:02.689 so we've got storage purity and finding a good 00:04:02.689 --> 00:04:05.030 provider. Exactly. Those are the big three up 00:04:05.030 --> 00:04:08.030 front. Right. Okay, so let's talk about why someone 00:04:08.030 --> 00:04:09.729 might actually want to go through all of this. 00:04:09.949 --> 00:04:12.169 Sure. What are some of the advantages that Doug 00:04:12.169 --> 00:04:15.030 Young points out? Well, he really emphasizes 00:04:15.030 --> 00:04:19.410 the potential tax advantages and the opportunity 00:04:19.410 --> 00:04:22.170 for your investments to grow without immediate 00:04:22.170 --> 00:04:24.550 tax implications. OK, let's break that down a 00:04:24.550 --> 00:04:26.829 little bit. So with the traditional gold IRA, 00:04:27.629 --> 00:04:29.410 depending on your income and whether you have 00:04:29.410 --> 00:04:32.069 a retirement plan at work, your contributions 00:04:32.069 --> 00:04:34.829 might actually be tax deductible. Oh, so I could 00:04:34.829 --> 00:04:38.310 potentially lower my tax bill this year by contributing. 00:04:38.449 --> 00:04:40.899 Yeah. That's a possibility. Interesting. And 00:04:40.899 --> 00:04:43.600 even more importantly, any growth within the 00:04:43.600 --> 00:04:46.459 account. So the increase in the value of your 00:04:46.459 --> 00:04:49.139 gold. Right. That growth is tax deferred. OK, 00:04:49.180 --> 00:04:51.160 so I don't have to pay taxes on it until I actually 00:04:51.160 --> 00:04:53.120 take it out in retirement. That's the idea. So 00:04:53.120 --> 00:04:55.959 that's pretty similar to a traditional 401k or 00:04:55.959 --> 00:04:58.060 IRA, right? It is. You get that tax deferred 00:04:58.060 --> 00:05:01.259 growth. Exactly. So what makes the gold IRA different 00:05:01.259 --> 00:05:04.620 on the tax front? Good point. So Doug Young also 00:05:04.620 --> 00:05:06.800 talks about this other option, the Roth Gold 00:05:06.800 --> 00:05:08.939 IRA. OK, yeah, he meant here. This one offers 00:05:08.939 --> 00:05:11.680 a different kind of strategy. How so? With a 00:05:11.680 --> 00:05:13.540 Roth, you contribute money that you've already 00:05:13.540 --> 00:05:16.180 paid taxes on. OK, after tax dollars. Right. 00:05:16.519 --> 00:05:19.839 And the benefit here is that any qualified withdrawals 00:05:19.839 --> 00:05:22.480 you make in retirement are completely tax free. 00:05:22.620 --> 00:05:24.839 Also, I'm paying taxes now, but I get to enjoy 00:05:24.839 --> 00:05:27.519 those gains tax free later on. Exactly. So it's 00:05:27.519 --> 00:05:30.720 like with a traditional gold IRA, it's pay later. 00:05:31.019 --> 00:05:33.680 maybe at a lower tax rate. Right. And with a 00:05:33.680 --> 00:05:37.040 Roth, it's pay now for the potential of tax regrowth 00:05:37.040 --> 00:05:39.079 down the road. You got it. So it really comes 00:05:39.079 --> 00:05:41.139 down to what you think your tax bracket will 00:05:41.139 --> 00:05:43.480 be in the future. Exactly. If you think you'll 00:05:43.480 --> 00:05:46.410 be in a higher bracket when you retire, the Roth 00:05:46.410 --> 00:05:48.490 might be more appealing. OK, that makes sense. 00:05:48.589 --> 00:05:50.589 All right. So we've got potential tax benefits. 00:05:51.430 --> 00:05:53.769 Now, Doug Young also talks about gold as a hedge 00:05:53.769 --> 00:05:56.490 against inflation. He does. And as a source of 00:05:56.490 --> 00:05:58.529 economic security. Yeah, that's a big one. Can 00:05:58.529 --> 00:06:01.050 you unpack that a little bit for us? So historically, 00:06:01.449 --> 00:06:03.990 gold has often acted as a hedge against inflation. 00:06:04.050 --> 00:06:07.209 OK. What that means is when the purchasing power 00:06:07.209 --> 00:06:09.550 of your dollars weakens. Like when things get 00:06:09.550 --> 00:06:12.319 more expensive. Exactly when your money buys 00:06:12.319 --> 00:06:15.620 you less, the value of gold tends to hold up 00:06:15.620 --> 00:06:17.860 or even increase. Oh, interesting. So it's like 00:06:17.860 --> 00:06:20.639 a way to preserve your wealth during times when 00:06:20.639 --> 00:06:23.019 the value of money is going down. That's the 00:06:23.019 --> 00:06:26.019 idea. Huh. OK, what about the economic security 00:06:26.019 --> 00:06:29.560 part? Well, Doug Young highlights that gold also 00:06:29.560 --> 00:06:32.139 tends to perform well during times of economic 00:06:32.139 --> 00:06:35.259 instability. OK. So think stock market crashes, 00:06:35.579 --> 00:06:37.639 recessions, things like that. When those kinds 00:06:37.639 --> 00:06:40.500 of events happen, Investors often turn to gold 00:06:40.500 --> 00:06:42.839 as a safe haven. Because they see it as something 00:06:42.839 --> 00:06:45.420 that will hold its value even if the rest of 00:06:45.420 --> 00:06:47.759 the market is tanking. Right. It's seen as a 00:06:47.759 --> 00:06:50.040 store of value that's less susceptible to those 00:06:50.040 --> 00:06:52.459 kinds of fluctuations. So it can offer some peace 00:06:52.459 --> 00:06:54.779 of mind during those uncertain times. Yeah. It 00:06:54.779 --> 00:06:56.779 can potentially provide a degree of protection 00:06:56.779 --> 00:06:59.819 against market downturns. OK. So we've got potential 00:06:59.819 --> 00:07:02.800 tax benefits, inflation hedge, economic security. 00:07:03.180 --> 00:07:05.379 Those are some pretty compelling arguments. They 00:07:05.379 --> 00:07:07.459 are. But to get the full picture, we got to talk 00:07:07.459 --> 00:07:09.920 about the downsides, too. Right. Every investment 00:07:09.920 --> 00:07:12.860 has its risks. So what are some of the drawbacks 00:07:12.860 --> 00:07:15.899 of gold IRAs that Doug Young brings up? Well, 00:07:15.980 --> 00:07:17.639 one of the first things you'll notice is the 00:07:17.639 --> 00:07:21.040 fees. Fees? Yeah, they tend to be higher with 00:07:21.040 --> 00:07:23.040 gold IRAs compared to your typical retirement 00:07:23.040 --> 00:07:25.980 accounts. OK, why is that? Well, you've got fees 00:07:25.980 --> 00:07:28.779 for setting up the account. OK. And then you've 00:07:28.779 --> 00:07:31.279 got those mandatory storage fees we talked about. 00:07:31.379 --> 00:07:33.639 Right, for those secure depositories. Exactly. 00:07:33.819 --> 00:07:36.100 And those fees, they can add up over time. Yeah, 00:07:36.240 --> 00:07:38.339 that makes sense. And then you've also got custodian 00:07:38.339 --> 00:07:40.639 fees for managing the account and making sure 00:07:40.639 --> 00:07:43.060 everything is compliant with the IRS. So all 00:07:43.060 --> 00:07:46.720 those fees together, they can eat into your returns 00:07:46.720 --> 00:07:48.959 pretty significantly. They can. And that's something 00:07:48.959 --> 00:07:52.699 Doug Young really emphasizes. Huh. So higher 00:07:52.699 --> 00:07:55.259 fees are definitely something to consider. Absolutely. 00:07:55.439 --> 00:07:57.519 What else should I be aware of? Okay. So another 00:07:57.519 --> 00:08:00.279 big thing is that gold itself, it doesn't generate 00:08:00.279 --> 00:08:03.139 any income. Oh, right. Unlike stocks that can 00:08:03.139 --> 00:08:06.019 pay dividends or bonds that have interest. Exactly. 00:08:06.120 --> 00:08:08.259 So with gold, you're not getting any regular 00:08:08.259 --> 00:08:11.000 payments. Right. Your return depends solely on 00:08:11.000 --> 00:08:13.600 whether the price of gold goes up. Okay. So if 00:08:13.600 --> 00:08:17.240 gold prices stay flat or even go down, you're 00:08:17.240 --> 00:08:20.079 not making any money. That's a possibility. Huh. 00:08:20.240 --> 00:08:22.300 That's a pretty important thing to think about. 00:08:22.500 --> 00:08:24.579 It is. And that's why Doug Young suggests having 00:08:24.579 --> 00:08:27.779 a balanced portfolio. OK. So you might have your 00:08:27.779 --> 00:08:30.899 gold IRA as part of your overall retirement plan, 00:08:30.939 --> 00:08:33.679 but you also want to have other investments that 00:08:33.679 --> 00:08:35.919 do generate income. Right. So you're not putting 00:08:35.919 --> 00:08:38.340 all your eggs in one basket. Exactly. OK. So 00:08:38.340 --> 00:08:41.440 we've got higher fees, no income generation. 00:08:42.019 --> 00:08:44.500 What about when it comes time to actually use 00:08:44.500 --> 00:08:47.000 that money in retirement? Good question. That 00:08:47.000 --> 00:08:50.110 brings us to the issue of liquidity. liquidity, 00:08:50.110 --> 00:08:52.570 meaning how easy it is to convert it to cash. 00:08:53.070 --> 00:08:55.730 Exactly. And selling physical gold, it's not 00:08:55.730 --> 00:08:57.769 as straightforward as selling stocks or bonds. 00:08:57.889 --> 00:08:59.909 Right. Those are just a few clicks away. Right. 00:08:59.990 --> 00:09:02.169 But with gold, you've got to find a buyer. OK. 00:09:02.409 --> 00:09:05.110 And there might be logistical issues like transportation 00:09:05.110 --> 00:09:08.370 storage. It can be more time consuming. And there 00:09:08.370 --> 00:09:10.389 might be additional costs involved. Like what 00:09:10.389 --> 00:09:12.870 kind of costs? Things like appraisal fees, shipping 00:09:12.870 --> 00:09:15.110 fees. And then there's also the issue of market 00:09:15.110 --> 00:09:18.470 demand. OK. If demand for gold is low when you 00:09:18.470 --> 00:09:21.129 want to sell, it might be harder to get the price 00:09:21.129 --> 00:09:24.149 you're hoping for. So it's not as simple as just 00:09:24.149 --> 00:09:26.070 selling it whenever you need the money. Right. 00:09:26.169 --> 00:09:28.070 It requires a little more planning and consideration. 00:09:28.490 --> 00:09:31.409 OK. So we've covered costs, income generation 00:09:31.409 --> 00:09:33.889 liquidity. Yeah. Now let's talk about some of 00:09:33.889 --> 00:09:36.429 the specific risks. All right. So Doug Young 00:09:36.429 --> 00:09:39.649 highlights a few key areas. OK. First and foremost 00:09:39.649 --> 00:09:43.789 is the volatility of gold prices. Volatility 00:09:43.789 --> 00:09:46.570 meaning prices can go up and down a lot. Exactly. 00:09:46.730 --> 00:09:48.610 And gold prices are influenced by all sorts of 00:09:48.610 --> 00:09:52.470 factors. Like what? Geopolitical events, changes 00:09:52.470 --> 00:09:54.769 in currency values, investor sentiment. So if 00:09:54.769 --> 00:09:57.429 there's like a big global crisis, gold prices 00:09:57.429 --> 00:10:00.179 might shoot up. They could. But then they could 00:10:00.179 --> 00:10:03.379 fall back down as the situation stabilizes. Right. 00:10:03.419 --> 00:10:06.360 So it's not a guaranteed upward trajectory. No. 00:10:06.480 --> 00:10:08.539 And that's why diversification is so important. 00:10:08.639 --> 00:10:10.620 Right. Having other investments to balance out 00:10:10.620 --> 00:10:13.320 those swings. Exactly. OK. So volatility, that's 00:10:13.320 --> 00:10:15.559 one risk. What else? Equities is another one 00:10:15.559 --> 00:10:17.480 we touched on this earlier. Right. But it's worth 00:10:17.480 --> 00:10:21.080 emphasizing that even though gold is a globally 00:10:21.080 --> 00:10:23.279 recognized commodity. Yeah. Everyone knows what 00:10:23.279 --> 00:10:25.720 gold is. It might not be that easy to sell it 00:10:25.720 --> 00:10:27.580 quickly at the price you want. Especially if 00:10:27.580 --> 00:10:29.500 there's not a lot of demand at that time, right 00:10:29.500 --> 00:10:31.720 and that could be a problem if you suddenly need 00:10:31.720 --> 00:10:35.299 access to cash Okay, so it's important to have 00:10:35.299 --> 00:10:38.639 other more liquid assets as part of your portfolio. 00:10:38.840 --> 00:10:40.940 Definitely All right. So volatility liquidity 00:10:40.940 --> 00:10:43.519 is or anything else. Yeah, the last one is regulatory 00:10:43.519 --> 00:10:46.620 risk. Okay, so compliance with IRS regulations 00:10:46.620 --> 00:10:49.750 is absolutely crucial. Right. There are rules 00:10:49.750 --> 00:10:52.289 about what types of gold you can hold. Like that 00:10:52.289 --> 00:10:54.429 purity standard we talked about? Exactly. And 00:10:54.429 --> 00:10:56.789 where you can store it. And there are reporting 00:10:56.789 --> 00:10:59.509 requirements. OK. And if you don't follow those 00:10:59.509 --> 00:11:02.090 rules, you could face penalties. So it's not 00:11:02.090 --> 00:11:04.149 just about buying gold and sticking it in an 00:11:04.149 --> 00:11:05.990 IRA. Right. You have to make sure you're doing 00:11:05.990 --> 00:11:08.610 everything by the book. Gotcha. All right. So 00:11:08.610 --> 00:11:10.590 we've covered a lot of ground here. We have. 00:11:10.769 --> 00:11:12.669 What are some of the key things someone should 00:11:12.669 --> 00:11:14.870 think about if they're considering investing 00:11:14.870 --> 00:11:18.370 in a gold IRA? OK, so Doug Young really stresses 00:11:18.370 --> 00:11:21.090 the importance of aligning your investments with 00:11:21.090 --> 00:11:23.490 your financial goals and your risk tolerance. 00:11:23.889 --> 00:11:25.909 So what are my goals for retirement? What am 00:11:25.909 --> 00:11:29.149 I trying to achieve? Exactly. Are you focused 00:11:29.149 --> 00:11:32.409 on preserving your wealth, generating income, 00:11:32.409 --> 00:11:35.649 long term growth? Those answers will help you 00:11:35.649 --> 00:11:38.029 determine if and how much gold should be part 00:11:38.029 --> 00:11:40.149 of your portfolio. Right. It's not a one size 00:11:40.149 --> 00:11:42.899 fits all kind of thing. No. Yeah. And you also 00:11:42.899 --> 00:11:45.279 have to be honest with yourself about how comfortable 00:11:45.279 --> 00:11:47.899 you are with risk. Because gold prices can fluctuate. 00:11:48.120 --> 00:11:50.240 They can't. And if you're someone who gets really 00:11:50.240 --> 00:11:52.799 nervous when your investments go up and down, 00:11:53.580 --> 00:11:55.500 then a large allocation of gold might not be 00:11:55.500 --> 00:11:57.419 the best fit. OK, so think about your goals. 00:11:58.000 --> 00:12:00.120 Think about your risk tolerance. What else? Doug 00:12:00.120 --> 00:12:02.740 Young also highly recommends talking to a financial 00:12:02.740 --> 00:12:06.559 advisor. They can help you figure out if a gold 00:12:06.559 --> 00:12:09.440 IRA is right for you and how it would fit into 00:12:09.440 --> 00:12:11.840 your overall investment plan. So get some expert 00:12:11.840 --> 00:12:14.639 advice before making any big decisions. Exactly. 00:12:14.740 --> 00:12:17.100 And what about diversification in general? That's 00:12:17.100 --> 00:12:20.000 crucial. So even if I decide to get a gold IRA, 00:12:20.480 --> 00:12:23.100 I shouldn't just put all my money in gold. No, 00:12:23.100 --> 00:12:25.039 you still want to have a mix of different asset 00:12:25.039 --> 00:12:28.000 classes. Like stocks, bonds, real estate. Right. 00:12:28.279 --> 00:12:31.120 The idea is to spread your risk. So that if one 00:12:31.120 --> 00:12:33.899 area of the market isn't doing well, the others 00:12:33.899 --> 00:12:36.919 can help cushion the blow. Exactly. It's all 00:12:36.919 --> 00:12:39.519 about creating a balanced and resilient portfolio. 00:12:39.840 --> 00:12:42.320 Makes sense. So just to reiterate, Doug Young, 00:12:42.480 --> 00:12:44.759 the author of this guide, he's got over 20 years 00:12:44.759 --> 00:12:47.159 of experience in this world. He does. So he knows 00:12:47.159 --> 00:12:49.039 what he's talking about. Yeah, he spent a lot 00:12:49.039 --> 00:12:52.120 of time analyzing financial markets, commodities, 00:12:52.480 --> 00:12:54.879 precious metals. And he's specifically evaluated 00:12:54.879 --> 00:12:57.879 gold IRA companies. Right. So he's really familiar 00:12:57.879 --> 00:13:00.399 with this specific area of investing. OK, so 00:13:00.399 --> 00:13:02.480 just a quick note for our listeners. Sure. Doug 00:13:02.480 --> 00:13:04.610 Young's guide. does mention that the website 00:13:04.610 --> 00:13:07.149 owners may receive compensation for recommending 00:13:07.149 --> 00:13:10.190 certain gold IRA companies. OK. So it's important 00:13:10.190 --> 00:13:11.669 to keep that in mind when you're reading the 00:13:11.669 --> 00:13:13.929 reviews and recommendations. Right. It's always 00:13:13.929 --> 00:13:16.129 good to do your own research and get information 00:13:16.129 --> 00:13:18.610 from multiple sources. Exactly. Don't just take 00:13:18.610 --> 00:13:20.950 one person's word for it. Right. Compare different 00:13:20.950 --> 00:13:22.490 perspectives and make sure you're comfortable 00:13:22.490 --> 00:13:24.669 with the information you're getting. All right. 00:13:24.669 --> 00:13:27.769 So as we wrap up this deep dive into gold IRAs, 00:13:28.169 --> 00:13:31.220 what are the key takeaways? So basically, Gold 00:13:31.220 --> 00:13:33.659 IRAs can be a way to diversify your retirement 00:13:33.659 --> 00:13:36.440 portfolio. OK. And potentially hedge against 00:13:36.440 --> 00:13:39.700 inflation and economic uncertainty. But you have 00:13:39.700 --> 00:13:44.200 to be aware of the fees, the lack of income generation, 00:13:45.059 --> 00:13:47.879 the complexities of selling physical gold, and 00:13:47.879 --> 00:13:50.100 the volatility of gold prices. Right. So it's 00:13:50.100 --> 00:13:52.360 not a simple yes or no answer. Exactly. It depends 00:13:52.360 --> 00:13:54.600 on your individual circumstances, your goals, 00:13:55.240 --> 00:13:57.629 your risk tolerance. So the big question is, 00:13:57.669 --> 00:14:00.750 how might a gold IRA fit into your own personal 00:14:00.750 --> 00:14:03.509 vision for financial security? Right. Think about 00:14:03.509 --> 00:14:06.250 how gold has performed throughout history and 00:14:06.250 --> 00:14:09.409 how it might behave in the future. And consider 00:14:09.409 --> 00:14:11.649 whether it aligns with your overall investment 00:14:11.649 --> 00:14:14.070 strategy. It's a decision that requires careful 00:14:14.070 --> 00:14:16.309 thought and consideration. Yeah, we always recommend 00:14:16.309 --> 00:14:18.090 doing your own research. I'm just talking to 00:14:18.090 --> 00:14:20.129 a financial advisor if you need help. Yeah, getting 00:14:20.129 --> 00:14:22.690 professional guidance is never a bad idea. and 00:14:22.690 --> 00:14:25.389 making sure you understand all the risks and 00:14:25.389 --> 00:14:28.330 potential rewards before making any big decisions. 00:14:28.590 --> 00:14:30.669 Right. It's all about making informed choices 00:14:30.669 --> 00:14:33.429 that align with your financial goals. Well said. 00:14:33.629 --> 00:14:35.690 Thanks for joining us for this deep dive into 00:14:35.690 --> 00:14:37.909 the world of gold IRAs. My pleasure. We'll see 00:14:37.909 --> 00:14:39.110 you next time. Sounds good.