Even though the elections were over, it’s safe to say there’s an economic frankenstorm’ ahead. You will find many people are concerned about their work, retirement accounts, and ability to meet basic needs. Visit our website and learn more about 401k to gold IRA rollover.
The news can make people even more anxious about the future, so they tend to turn to the news to get the latest. This is one reason why precious metals and gold IRA rolling over accounts are so popular. This is an opportunity to learn about gold-backed investments.
Did you Lose your Job in the Past 60 Days or Are You About to Lose It?
As you might know, many companies are laying off employees in an effort to reduce the need to purchase more health insurance coverage. This will, unsurprisingly, put a lot of pressure on consumer confidence in the holiday season. Amazingly, you have a 60-day window to transfer your retirement fund to another holder after losing your job.
An employer will not be required to approve a transfer to a precious metallics IRA. Instead, an independent, gold-backed IRA broker can help you set up and manage the account. Transferring your existing investment will not only protect it, but you won’t be subject to any penalties. Individuals who fear losing their job will be able to make the same level investment in a precious metal, or gold IRA.
Retirement Savings Accounts to be wiped out
Do you recall the moment you got home from work to find that the value of your IRA was now only 60% of what it was the previous day? It is likely that you were shocked to learn that you had lost all of your life savings within a matter hours.
As time went by, you discovered that you couldn’t get your money back unless you tried to invest in paper markets. These were equally as risky as the “blue stock” investments. However, you might also have noticed that parts of your 401k that were dedicated to precious metals survived and continued to grow in value even when the global economic collapse continued.