How to start investing in gold

With the new year upon us, it’s a good time to reevaluate your investments — what’s working, what’s not, and where you can invest your money to better save and build wealth for the future.

For many, Gold investment Adding 2023 to the mix might be worth it, especially considering Recent economic developments. Gold tends to be a smart investment During inflationAnd in recession It usually gains quite a bit of value.

Indeed, between the 1970s and 1980s — when there were three recessions and inflation reached double digits — the value of gold jumped from $35 to $850 an ounce. Nasdaq,

Is gold something you are thinking of investing in this year? Get started by requesting a free asset protection kit from Goldco now to learn more about this unique opportunity.

How to start investing in gold

There are multiple ways to invest in gold. Here are three ways to get started.

1. Open a Gold IRA

If you want to invest in gold for your future retirement, a Gold IRA Might be a good way to start. These are individual retirement accounts that allow you to invest your funds in gold, silver, art and other collectibles (even wine). Traditional IRAs do not allow you to invest your money in such physical items.

If you choose this strategy, you will set up your account with a Gold IRA broker, who will set up and manage your account. You can then fund the account, purchase your securities, and they will be stored in an IRS-approved facility.

Gold IRAs can also be used to buy other gold-related investments like gold mining stocks, gold futures, and gold ETFs (more on these later). There are both traditional gold IRAs, which you fund with pre-tax dollars, and Roth gold IRAs, which are funded with after-tax money. If you are self-employed, you can choose a SEP Gold IRA.

Learn more about investing in a gold IRA here now.

2. Buy physical gold

This is the old standard. You buy gold coins, bullion or bars and then put them somewhere safe for safekeeping. This could mean a locked safe in your closet, a safety deposit box at a bank, or a third-party depository that specializes in storing gold, silver, and other precious metals.

If you choose to invest in physical gold, make sure to buy from a reputable dealer. Check out reviews, see how long a dealer has been in business, and check complaints on the Better Business Bureau. You can also use Directory of the US Mint If you are interested in gold bullion.

3. Invest in gold ETFs

Gold ETFs – or exchange-traded funds – are types of pooled investment funds that allow you to invest in various gold-related companies without owning the actual gold. Similar to investing in stocks, you buy shares of ETFs, each of which holds a small portion of the various companies in the fund.

ETFs can be a smart way to reduce your risk and Diversify your portfolio As they easily spread your investment across different asset classes. They can be bought in small quantities and are easily traded, allowing you to avoid risk and change strategies based on market conditions.

To invest in gold ETFs, you need to open a brokerage account. Then you can choose the ETFs you want to invest in and the number of shares If you’re not sure how to go about this, a full-service brokerage is the best option. They can help you select the best ETF investments for your goals and budget.

Why invest in gold?

Gold investment benefits A lot. Gold helps diversify your portfolio; It retains its value over time; And it is a good hedge against inflation. It is also considered a low-risk investment, as it does not experience the volatility in pricing that most other investment classes do.

still, It’s not perfect Generally speaking, gold doesn’t offer high returns, so it’s not good if you’re looking for a big wealth-builder or a long-term boost to your nest egg.

If you want a steady, safe way to invest your money, gold might be it.

There are many ways to start Investment in gold, so if you’re not sure where to start, consult an investment professional. They can walk you through the full range of gold pros and cons and ensure that gold investments are right for your portfolio.

Start by requesting a free asset protection kit from Goldco to learn more or explore some of the top gold companies through the table below.