WEBVTT 00:00:00.000 --> 00:00:02.779 Welcome back to The Deep Dive. We have a really 00:00:02.779 --> 00:00:05.740 interesting stack of research today that, honestly, 00:00:05.940 --> 00:00:08.080 it tackles a subject that feels like it belongs 00:00:08.080 --> 00:00:10.759 in two completely different worlds. Right. On 00:00:10.759 --> 00:00:14.060 one hand, you have this very primal, almost, 00:00:14.060 --> 00:00:17.140 you know, childhood fantasy of treasure. Gold, 00:00:17.199 --> 00:00:19.039 silver, that kind of... The whole nine yards, 00:00:19.239 --> 00:00:20.920 the stuff you can actually hold in your hand. 00:00:21.019 --> 00:00:24.280 That satisfying clink of real metal. Exactly. 00:00:24.739 --> 00:00:27.410 And then on the other hand, you have the... Well, 00:00:27.629 --> 00:00:31.070 the incredibly dry, rule -heavy, paperwork -filled 00:00:31.070 --> 00:00:34.409 world of the IRS tax code. And today, we're looking 00:00:34.409 --> 00:00:37.850 right at the collision of these two worlds, silver 00:00:37.850 --> 00:00:40.670 IRAs. It's a fascinating intersection, for sure. 00:00:40.729 --> 00:00:43.950 We're basing this deep dive on a pretty comprehensive 00:00:43.950 --> 00:00:47.109 educational guide and analysis from the Gold 00:00:47.109 --> 00:00:50.030 IRA Company's bulletin. And specifically, we're 00:00:50.030 --> 00:00:52.250 looking at the work of Doug Young. Right. And 00:00:52.250 --> 00:00:54.049 it's important to note who he is. He's not just 00:00:54.049 --> 00:00:56.770 some blogger. No, he's a financial markets researcher 00:00:56.770 --> 00:00:59.250 with, what, over 20 years of experience. Yeah. 00:00:59.490 --> 00:01:01.689 And the background is a financial director. Which 00:01:01.689 --> 00:01:03.390 means he's looking at the spreadsheets behind 00:01:03.390 --> 00:01:05.650 the shiny metal, not just the metal itself. And 00:01:05.650 --> 00:01:08.189 that is so crucial because, I mean, as we went 00:01:08.189 --> 00:01:11.530 through this material, it became very clear that 00:01:11.530 --> 00:01:14.349 while the concept of a silver IRA is simple. 00:01:14.489 --> 00:01:16.450 Owned silver in your retirement account. Simple. 00:01:16.810 --> 00:01:20.379 The execution. is an absolute minefield. Oh it 00:01:20.379 --> 00:01:22.680 really is. I think a lot of people have this 00:01:22.680 --> 00:01:24.840 idea like oh cool I'll just buy some coins and 00:01:24.840 --> 00:01:26.939 stick them in a safe. I totally thought that 00:01:26.939 --> 00:01:29.480 but the more I read the more I realized this 00:01:29.480 --> 00:01:33.480 is not a casual DIY project. Not at all. So here's 00:01:33.480 --> 00:01:35.579 our mission for this deep drive. We're going 00:01:35.579 --> 00:01:38.040 to unpack how this actually works, specifically 00:01:38.040 --> 00:01:41.200 that self -directed part. We'll look at the economic 00:01:41.200 --> 00:01:43.379 case for silver and why the experts say it's 00:01:43.379 --> 00:01:46.040 fundamentally different from gold. And then we're 00:01:46.040 --> 00:01:48.239 going to spend a good chunk of time on what I'm 00:01:48.239 --> 00:01:50.480 calling the do not try this at home section. 00:01:50.519 --> 00:01:53.920 The regulatory traps. Exactly. The strict IRS 00:01:53.920 --> 00:01:56.900 rules that if you break them can turn your retirement 00:01:56.900 --> 00:02:00.280 nest egg into a massive tax bill. We need to 00:02:00.280 --> 00:02:03.000 talk fees, storage, all the stuff in the fine 00:02:03.000 --> 00:02:05.939 print. Yeah, let's get into it. OK, so baseline 00:02:05.939 --> 00:02:10.300 first. What is a silver IRA, technically? Because 00:02:10.300 --> 00:02:14.080 when I log into my 401k, I see a list of mutual 00:02:14.080 --> 00:02:16.860 funds, maybe some bond options. Standard stuff. 00:02:17.120 --> 00:02:19.340 Right. I definitely do not see an option that 00:02:19.340 --> 00:02:22.120 says buy bars of silver. No, and that's by design. 00:02:22.860 --> 00:02:25.199 Most standard retirement accounts, the ones most 00:02:25.199 --> 00:02:27.280 people have, they're built for paper assets. 00:02:27.500 --> 00:02:29.740 Stocks, bonds. Right. A share of a company, a 00:02:29.740 --> 00:02:32.340 slice of debt. A silver IRA operates under a 00:02:32.340 --> 00:02:34.360 different umbrella. It's what's called a self 00:02:34.360 --> 00:02:37.740 -directed IRA. Self -directed? It sounds empowering, 00:02:37.800 --> 00:02:40.340 but also a little intimidating. And it should 00:02:40.340 --> 00:02:42.139 be a little intimidating. A self -directed IRA 00:02:42.139 --> 00:02:44.639 is just a specific legal structure that allows 00:02:44.639 --> 00:02:47.659 you, the account holder, to invest in alternative 00:02:47.659 --> 00:02:50.360 assets. So things outside the stock market. Exactly. 00:02:50.580 --> 00:02:52.699 Could be real estate, a private business, or 00:02:52.699 --> 00:02:55.280 in this case, precious metals. It gives you the 00:02:55.280 --> 00:02:58.159 freedom to step outside that traditional ecosystem. 00:02:58.349 --> 00:03:00.590 And that's the big hook, isn't it? I mean, the 00:03:00.590 --> 00:03:03.349 source material really emphasizes the tangibility. 00:03:03.750 --> 00:03:05.830 For a lot of people, especially when the market 00:03:05.830 --> 00:03:09.509 gets volatile or inflation is spiking, looking 00:03:09.509 --> 00:03:12.710 at a number on a screen just feels, I don't know, 00:03:12.949 --> 00:03:15.710 risky, like it just pixels. But a kilo of silver, 00:03:15.930 --> 00:03:19.330 that has weight. It's real. Yes. It's that psychological 00:03:19.330 --> 00:03:21.889 comfort of intrinsic value. You know, if the 00:03:21.889 --> 00:03:23.569 Internet goes down, you still own the metal. 00:03:24.469 --> 00:03:27.310 It is. But Doug Young's analysis points out it's 00:03:27.310 --> 00:03:30.349 not just about feelings or prep of fantasies, 00:03:30.610 --> 00:03:33.569 there's a rigid economic argument here. The inflation 00:03:33.569 --> 00:03:36.250 hedge. That's the primary one. Historically, 00:03:36.449 --> 00:03:39.110 when central banks print more money, the purchasing 00:03:39.110 --> 00:03:42.150 power of that currency goes down. Hard assets 00:03:42.150 --> 00:03:45.129 like silver, they tend to reprice higher to match 00:03:45.129 --> 00:03:47.430 that. The classic dollar goes down, metal goes 00:03:47.430 --> 00:03:49.509 up. Pretty much. It preserves your buying power 00:03:49.509 --> 00:03:51.189 over the long haul. OK, but here's where I want 00:03:51.189 --> 00:03:53.860 to push back a bit based on the research. People 00:03:53.860 --> 00:03:56.580 say the exact same thing about gold. So why silver 00:03:56.580 --> 00:03:59.280 specifically? Is it just gold's cheaper cousin? 00:03:59.800 --> 00:04:02.500 That's a really common misconception. But the 00:04:02.500 --> 00:04:05.039 data tells a different story. Silver has a kind 00:04:05.039 --> 00:04:08.180 of dual personality. Gold is almost purely a 00:04:08.180 --> 00:04:10.659 monetary asset. It just sits in vaults. Sits 00:04:10.659 --> 00:04:13.319 in vaults. Central banks hoard it. It's used 00:04:13.319 --> 00:04:15.719 for jewelry. It isn't really used for much else. 00:04:15.819 --> 00:04:18.740 Silver is different. It works for a living. It 00:04:18.740 --> 00:04:20.060 works for a living. That's a great way to put 00:04:20.060 --> 00:04:23.500 it. It has massive industrial value. The source 00:04:23.500 --> 00:04:26.759 really highlights this. Silver is the most conductive 00:04:26.759 --> 00:04:29.620 metal on Earth. Thermally and electrically. Right. 00:04:29.899 --> 00:04:31.920 You just can't build a modern economy without 00:04:31.920 --> 00:04:35.120 it. It's in your iPhone, your laptop, every circuit 00:04:35.120 --> 00:04:37.339 board. And the big one mentioned in the research 00:04:37.339 --> 00:04:39.800 that really jumped out at me was solar. Solar 00:04:39.800 --> 00:04:43.720 energy is a huge driver. Photovoltaic cells use 00:04:43.720 --> 00:04:46.959 silver paste to conduct electricity. So as the 00:04:46.959 --> 00:04:49.620 world shifts toward green energy, the demand 00:04:49.620 --> 00:04:52.319 for silver isn't just coming from investors. 00:04:52.620 --> 00:04:54.759 It's coming from industry just trying to keep 00:04:54.759 --> 00:04:56.720 the lights on. You've got the squeeze from two 00:04:56.720 --> 00:04:59.779 sides. Investors want it for safety, and factories 00:04:59.779 --> 00:05:02.040 need it to build the future. That's fascinating. 00:05:02.300 --> 00:05:05.720 And here's the aha moment on supply. Unlike gold. 00:05:06.110 --> 00:05:08.350 which gets recycled at a very high rate because 00:05:08.350 --> 00:05:10.610 it's so valuable, a lot of industrial silver 00:05:10.610 --> 00:05:13.209 is actually consumed. It ends up in landfills, 00:05:13.370 --> 00:05:16.350 in tiny amounts, in all our discarded electronics. 00:05:16.569 --> 00:05:19.449 It's often just too expensive to recycle. So 00:05:19.449 --> 00:05:21.750 that creates a supply and demand floor that gold 00:05:21.750 --> 00:05:23.930 doesn't really have. That is a really compelling 00:05:23.930 --> 00:05:25.649 point. You're not just betting on fear, you're 00:05:25.649 --> 00:05:28.709 betting on technology. But I assume that means 00:05:28.709 --> 00:05:32.149 the price is a bit jumpier. Oh, much jumpier. 00:05:32.389 --> 00:05:35.029 Volatility is the word. If the economy crashes, 00:05:35.709 --> 00:05:37.870 Industrial demand for silver drops, so it can 00:05:37.870 --> 00:05:40.509 swing wildly compared to gold. It's not for the 00:05:40.509 --> 00:05:42.949 faint of heart. Okay, so let's say I'm sold on 00:05:42.949 --> 00:05:45.110 the concept. I want some of this hybrid metal 00:05:45.110 --> 00:05:47.310 in my retirement. I can't just go to a coin shop 00:05:47.310 --> 00:05:49.110 and pay cash if I want the tax benefits, right? 00:05:49.230 --> 00:05:51.110 We need to talk about the tax wrapper. Right. 00:05:51.170 --> 00:05:54.250 The silver IRA gives you the same tax superpowers 00:05:54.250 --> 00:05:57.910 as a regular IRA. You're basically trading liquidity 00:05:57.910 --> 00:06:01.069 for tax -deferred or even tax -free growth. Okay, 00:06:01.069 --> 00:06:02.490 let's run through the menu because the source 00:06:02.490 --> 00:06:05.259 breaks down three main types. First up... The 00:06:05.259 --> 00:06:07.439 traditional silver IRA. This is the standard 00:06:07.439 --> 00:06:09.959 model. You contribute with pre -tax dollars. 00:06:10.420 --> 00:06:13.540 So if you earn $100 ,000 to put $7 ,000 in, the 00:06:13.540 --> 00:06:16.639 IRS only taxes you on $93 ,000. You get a tax 00:06:16.639 --> 00:06:18.639 break today. But the government always gets its 00:06:18.639 --> 00:06:21.959 cut eventually. Always. When you retire and start 00:06:21.959 --> 00:06:24.339 taking distributions, you'll pay in -brim tax 00:06:24.339 --> 00:06:26.779 on that money then. This makes sense if you think 00:06:26.779 --> 00:06:29.300 you're in a high tax bracket now, but will be 00:06:29.300 --> 00:06:32.420 in a lower one when you retire. Got it. Then 00:06:32.420 --> 00:06:35.040 we have the Roth silver IRA. This is the one 00:06:35.040 --> 00:06:37.160 that always catches my eye, especially with an 00:06:37.160 --> 00:06:40.060 asset that could theoretically explode in value. 00:06:40.500 --> 00:06:43.079 The Roth is really powerful, especially for high 00:06:43.079 --> 00:06:44.980 growth potential. You pay taxes on your income 00:06:44.980 --> 00:06:47.779 now, before you put it in. No tax break this 00:06:47.779 --> 00:06:50.060 year, but - So growth is tax -free? All of it, 00:06:50.279 --> 00:06:52.920 tax -free. Let's say you buy silver at $30 an 00:06:52.920 --> 00:06:57.180 ounce, and in 20 years it hits $100. In a traditional 00:06:57.180 --> 00:06:59.930 IRA, you'd pay taxes on all that profit. And 00:06:59.930 --> 00:07:02.230 in a Roth? Zero taxes on the profit, as long 00:07:02.230 --> 00:07:04.610 as you follow the rules. If you really believe 00:07:04.610 --> 00:07:07.569 silver is going to skyrocket, the Roth is mathematically 00:07:07.569 --> 00:07:10.110 the better choice. You're locking in your tax 00:07:10.110 --> 00:07:12.129 rate today. OK. And the third type mentioned 00:07:12.129 --> 00:07:15.689 is the SEP IRA. Right. Simplified employee pension. 00:07:16.550 --> 00:07:18.269 This one's for our self -employed listeners or 00:07:18.269 --> 00:07:21.009 small business owners. The mechanics are like 00:07:21.009 --> 00:07:24.069 the traditional tax deductible now, taxed later. 00:07:24.569 --> 00:07:27.629 But the contribution limits are way higher. That's 00:07:27.629 --> 00:07:30.629 a key distinction. For regular IRA, the limit 00:07:30.629 --> 00:07:34.569 for 2025 is what, $7 ,000? Eight if you're over 00:07:34.569 --> 00:07:37.889 50. Which frankly isn't a lot of silver. But 00:07:37.889 --> 00:07:40.290 for the SEP, depending on your income, you could 00:07:40.290 --> 00:07:42.329 potentially put in tens of thousands a year. 00:07:42.509 --> 00:07:45.230 So you can build a position much faster. Exactly. 00:07:45.760 --> 00:07:47.779 Okay, so we've picked our account type. Now we 00:07:47.779 --> 00:07:49.300 get to the part where people get into serious 00:07:49.300 --> 00:07:51.819 trouble. The do not try this at home section. 00:07:52.480 --> 00:07:54.480 When I first heard about this, I had this image 00:07:54.480 --> 00:07:57.279 of buying silver, the UPS guy delivering a heavy 00:07:57.279 --> 00:07:59.439 box, and me putting it in my basement safe. And 00:07:59.439 --> 00:08:02.399 I cannot stress this enough. That is the single 00:08:02.399 --> 00:08:04.839 fastest way to destroy your retirement account. 00:08:04.939 --> 00:08:07.120 The source is incredibly emphatic about this. 00:08:07.399 --> 00:08:09.920 No personal possession. Absolutely none. The 00:08:09.920 --> 00:08:12.339 IRS calls this self -dealing. If that silver 00:08:12.339 --> 00:08:14.500 touches your hands or enters your home or you 00:08:14.500 --> 00:08:17.060 bury it in the backyard, the IRS considers the 00:08:17.060 --> 00:08:20.019 entire amount distributed. Which means what exactly? 00:08:20.139 --> 00:08:22.720 It means the tax shelter vanishes instantly. 00:08:23.199 --> 00:08:25.180 You owe income taxes on the whole amount right 00:08:25.180 --> 00:08:28.339 now. Plus, if you're under 59 and a half, you 00:08:28.339 --> 00:08:30.680 get hit with a 10 % early withdrawal penalty. 00:08:30.720 --> 00:08:34.009 Wow. It's a financial disaster. Despite what 00:08:34.009 --> 00:08:37.649 some sketchy Internet ads might imply about home 00:08:37.649 --> 00:08:40.750 storage IRAs, the legitimate path requires a 00:08:40.750 --> 00:08:43.129 middleman. In fact, it requires two middlemen. 00:08:43.269 --> 00:08:45.370 First, you need a custodian. And this isn't the 00:08:45.370 --> 00:08:48.370 janitor. No, this is a licensed financial institution, 00:08:48.490 --> 00:08:50.909 usually a trust company that's approved by the 00:08:50.909 --> 00:08:53.649 IRS to handle the paperwork and reporting. But 00:08:53.649 --> 00:08:55.509 they don't actually hold the physical silver. 00:08:55.809 --> 00:08:59.009 OK, so who does an approved depository thing 00:08:59.009 --> 00:09:02.419 like a private Fort Knox? Places like Delaware 00:09:02.419 --> 00:09:05.580 Depository or Brinks. These are high -security 00:09:05.580 --> 00:09:08.759 insured vaults. The custodian hires the depository 00:09:08.759 --> 00:09:10.899 to store your metal. So the chain of custody 00:09:10.899 --> 00:09:13.559 is, I send money to the custodian, the custodian 00:09:13.559 --> 00:09:15.700 pays a dealer, the dealer ships the metal to 00:09:15.700 --> 00:09:17.960 the depository, and I get a piece of paper. That's 00:09:17.960 --> 00:09:19.940 it. You never touch it until you retire and ask 00:09:19.940 --> 00:09:22.519 for a distribution. Which kind of dampens the 00:09:22.519 --> 00:09:24.519 tangible appeal a bit, doesn't it? I mean, I 00:09:24.519 --> 00:09:26.639 own it, but I can't actually see it. It does. 00:09:26.700 --> 00:09:29.429 You have to trust the system. But that separation 00:09:29.429 --> 00:09:32.269 is exactly what keeps the IRS happy. Speaking 00:09:32.269 --> 00:09:34.250 of which, let's talk about what we can actually 00:09:34.250 --> 00:09:36.769 buy. I can't just put my grandma's antique tea 00:09:36.769 --> 00:09:40.230 set into my IRA, can I? No. Purity is everything 00:09:40.230 --> 00:09:43.590 here. The IRS has very specific fineness standards. 00:09:43.929 --> 00:09:47.889 For silver, it has to be 99 .9 % pure. Which 00:09:47.889 --> 00:09:51.070 rules out sterling silver. That's only 92 .5%. 00:09:51.070 --> 00:09:53.090 Correct. And a lot of older collectible coins 00:09:53.090 --> 00:09:56.110 too. The source lists the safe bets. American 00:09:56.110 --> 00:09:58.190 silver eagles, Canadian maple leafs, things like 00:09:58.190 --> 00:10:00.789 that. Government minted bullion is usually the 00:10:00.789 --> 00:10:03.289 standard. And what about bars? Bars are fine, 00:10:03.590 --> 00:10:05.309 as long as they come from an accredited refiner 00:10:05.309 --> 00:10:08.909 and meet that .999 purity. But there's a nuance 00:10:08.909 --> 00:10:10.950 here the source hints at that you need to be 00:10:10.950 --> 00:10:13.360 really careful with. What's that? numismatics 00:10:13.360 --> 00:10:16.139 or collectibles. Sometimes a dealer might try 00:10:16.139 --> 00:10:18.580 to sell you a rare coin for your IRA, saying 00:10:18.580 --> 00:10:20.220 it's worth more than just the silver because 00:10:20.220 --> 00:10:22.320 it's a limited edition. Is that allowed? It's 00:10:22.320 --> 00:10:26.120 a gray area. The IRS generally excludes collectibles. 00:10:26.539 --> 00:10:28.559 But more importantly, from an investment standpoint, 00:10:28.720 --> 00:10:31.419 you're paying a huge premium for that rarity. 00:10:32.080 --> 00:10:35.080 In an IRA, you just want the raw silver value. 00:10:35.220 --> 00:10:37.460 So stick to the boring stuff. Boring is beautiful 00:10:37.460 --> 00:10:40.120 in investing. Stick to the bullion, where the 00:10:40.120 --> 00:10:42.340 value is based on the weight, not the story behind 00:10:42.340 --> 00:10:44.539 the coin. OK, that brings us to the logistics. 00:10:44.779 --> 00:10:46.440 I want to highlight the funding part, because 00:10:46.440 --> 00:10:48.960 it feels like another trapdoor. Most people are 00:10:48.960 --> 00:10:51.759 using a rollover, right? Yes, from an old 401k 00:10:51.759 --> 00:10:54.000 or another IRA. And there are two ways to do 00:10:54.000 --> 00:10:56.600 it. The safe way is a direct transfer, where 00:10:56.600 --> 00:10:58.759 the two custodians handle the money. You never 00:10:58.759 --> 00:11:01.240 touch it. And the risky way? The indirect rollover. 00:11:01.659 --> 00:11:03.659 That's where the old 401k cuts a check to you. 00:11:03.799 --> 00:11:06.440 That feels dangerous immediately. It is. You 00:11:06.440 --> 00:11:09.960 have exactly 60 days, a hard stop, to get that 00:11:09.960 --> 00:11:12.500 money into the new silver IRA. A hot potato. 00:11:12.740 --> 00:11:15.000 A very hot potato. Yeah. If you miss that deadline 00:11:15.000 --> 00:11:18.279 by one day, it's a withdrawal. Tax bomb, penalties. 00:11:18.639 --> 00:11:21.139 Just do the direct transfer. It removes the human 00:11:21.139 --> 00:11:23.620 error. OK. So we've moved the money. We've bought 00:11:23.620 --> 00:11:26.019 the shiny eagles. They're in a vault. Now we 00:11:26.019 --> 00:11:28.799 have to talk about the downsides. And the biggest 00:11:28.799 --> 00:11:31.759 friction point seems to be cost. Oh, it's expensive. 00:11:31.940 --> 00:11:33.870 There's no way around it. With the stock app, 00:11:33.870 --> 00:11:36.470 I can trade for free. Right. With the Silver 00:11:36.470 --> 00:11:40.289 IRA, you're paying for physical reality. You've 00:11:40.289 --> 00:11:42.610 got a setup fee, you have an annual maintenance 00:11:42.610 --> 00:11:45.110 fee for the custodian, and you have an annual 00:11:45.110 --> 00:11:47.570 storage fee for the depository. And these are 00:11:47.570 --> 00:11:50.669 usually flat fees, not a percentage. Often, yes. 00:11:50.690 --> 00:11:53.809 You might pay, say, $200 to $300 a year just 00:11:53.809 --> 00:11:55.789 to keep the account open. Let's do the math on 00:11:55.789 --> 00:11:58.870 that. If I only have $5 ,000 to invest and the 00:11:58.870 --> 00:12:01.789 fees are $250 a year. You're losing five percent 00:12:01.789 --> 00:12:04.429 of your portfolio every single year just in fees. 00:12:04.990 --> 00:12:07.690 The silver price has to go up five percent just 00:12:07.690 --> 00:12:09.909 for you to break even. So this is not for the 00:12:09.909 --> 00:12:12.870 small saver. Generally no. It really only starts 00:12:12.870 --> 00:12:15.690 to make sense for larger accounts where that 00:12:15.690 --> 00:12:17.970 flat fee becomes a tiny fraction of a percent. 00:12:18.529 --> 00:12:21.350 For small investors the fees can eat you alive. 00:12:21.789 --> 00:12:25.029 And there's another cost that isn't on the statement. 00:12:26.070 --> 00:12:28.899 The spread. I want to untack this because this 00:12:28.899 --> 00:12:30.860 is where people get burned. This is the most 00:12:30.860 --> 00:12:34.600 critical part. The spot price of silver is what 00:12:34.600 --> 00:12:37.100 you see on the news. Let's say it's $25 an ounce. 00:12:37.720 --> 00:12:41.100 You cannot buy a Silver Eagle for $25. You pay 00:12:41.100 --> 00:12:45.019 the ask price. Which might be $30 or $32. That 00:12:45.019 --> 00:12:48.279 extra amount is the dealer's premium. Okay, that's 00:12:48.279 --> 00:12:51.539 fair. But here's the kicker. If I want to sell 00:12:51.539 --> 00:12:54.039 it back a week later. You don't get the $32 you 00:12:54.039 --> 00:12:57.259 paid. You get the bid price. which might be the 00:12:57.259 --> 00:13:00.120 spot price or maybe a little over. So you automatically 00:13:00.120 --> 00:13:02.399 take a hit the moment you buy. So if I buy at 00:13:02.399 --> 00:13:05.600 32 and the sell price is 25, I am immediately 00:13:05.600 --> 00:13:08.580 down roughly 20 % on my investment. In that scenario, 00:13:08.860 --> 00:13:11.039 yes. You're starting in a hole. So this is not 00:13:11.039 --> 00:13:13.159 a short -term trade. Not at all. This is a 5, 00:13:13.179 --> 00:13:15.639 10, 20 -year hold. You're paying a premium for 00:13:15.639 --> 00:13:18.019 insurance. You don't buy insurance, hoping to 00:13:18.019 --> 00:13:19.720 cash it out next week. I want to circle back 00:13:19.720 --> 00:13:21.620 to our source material because there's a disclaimer 00:13:21.620 --> 00:13:25.019 on the site. Yes, and it's crucial. It explicitly 00:13:25.019 --> 00:13:28.820 states they might receive compensation for endorsing 00:13:28.820 --> 00:13:31.659 certain companies. And they specifically recommend 00:13:31.659 --> 00:13:34.740 Augusta Precious Metals. Now, Augusta might be 00:13:34.740 --> 00:13:37.720 a fantastic company, but as a consumer, you have 00:13:37.720 --> 00:13:40.460 to separate the education from the recommendation. 00:13:40.899 --> 00:13:44.399 The facts about IRS rules are facts. The suggestion 00:13:44.399 --> 00:13:47.659 of who to call, that is likely marketing. And 00:13:47.659 --> 00:13:49.639 that's fine, but you need to do your own due 00:13:49.639 --> 00:13:52.299 diligence. Call three companies. Ask them about 00:13:52.299 --> 00:13:55.360 their spread. Ask them, if I buy this coin for 00:13:55.360 --> 00:13:58.259 $30 today, what would you buy it back from me 00:13:58.259 --> 00:14:00.820 for right now? And if they won't answer? Hang 00:14:00.820 --> 00:14:03.399 up. Transparency is everything in this industry. 00:14:03.580 --> 00:14:06.279 That's great advice. So let's zoom out. Who is 00:14:06.279 --> 00:14:08.759 this actually for? It's for the investor who's 00:14:08.759 --> 00:14:10.539 worried about the systemic risks in the dollar 00:14:10.539 --> 00:14:12.659 and the stock market. Someone who looks at the 00:14:12.659 --> 00:14:14.690 national debt and thinks, I need something real. 00:14:14.850 --> 00:14:16.830 And someone willing to pay the fees for that 00:14:16.830 --> 00:14:19.309 peace of mind. Exactly. It's for someone who 00:14:19.309 --> 00:14:20.789 wants to know they have physical wealth sitting 00:14:20.789 --> 00:14:22.950 in a vault, separate from the digital system. 00:14:23.210 --> 00:14:25.429 It's a bridge between the ancient world of hard 00:14:25.429 --> 00:14:28.389 money and the modern world of tax advantaged 00:14:28.389 --> 00:14:30.649 investing. That's a great way to put it. You 00:14:30.649 --> 00:14:32.330 know, it's funny, as we're talking about this, 00:14:32.429 --> 00:14:34.970 I keep thinking about that. buried treasure image 00:14:34.970 --> 00:14:37.529 we started with. It's hard to shake. In a world 00:14:37.529 --> 00:14:40.509 where our net worth is just entries in a database, 00:14:41.029 --> 00:14:44.190 there's something so grounding about metal. It 00:14:44.190 --> 00:14:46.289 doesn't rely on electricity. It doesn't rely 00:14:46.289 --> 00:14:49.610 on a CEO. It just is. It has permanence. But 00:14:49.610 --> 00:14:51.149 here's the question I want to leave our listeners 00:14:51.149 --> 00:14:53.850 with today. We've talked about the security of 00:14:53.850 --> 00:14:56.710 the vault and the IRS looking over your shoulder. 00:14:56.750 --> 00:14:59.490 And charging you for the privilege. Is the safety 00:14:59.490 --> 00:15:03.440 of a silver IRA real safety? Or are you just 00:15:03.440 --> 00:15:06.480 trading one kind of risk market risk for another 00:15:06.480 --> 00:15:09.240 kind of fee erosion and regulatory risk? That 00:15:09.240 --> 00:15:11.480 is the million ounce question, isn't it? Is the 00:15:11.480 --> 00:15:13.740 cost of the insurance so high that it eats up 00:15:13.740 --> 00:15:16.259 the value of what you're trying to protect? Something 00:15:16.259 --> 00:15:18.639 to chew on. Thanks for diving deep with us today. 00:15:18.779 --> 00:15:20.539 Keep asking questions. We'll see you next time.