If you are like most Americans, you have probably worked very hard for a long time. Hopefully, you have been putting money away in the hopes of one day retiring and enjoying your life without having to concern yourself with money.
If you have saved diligently you should be proud. If you haven’t, it’s not too late.
While having a nice nest egg put away may provide a great deal of comfort, it’s not enough. The question then becomes how to protect that nest egg. And no, we are not talking about a stock market meltdown or economic slowdown. We are talking about something that could have a far more significant impact on your savings and lifestyle.
What would happen if the dollar collapsed?
It’s no secret that the dollar has been on the decline. While the dollar still enjoys its status today as the global reserve currency of choice, that status may soon be challenged.
Several nations have already begun moving away from the dollar. Russia, China, and others have already set up swap lines to facilitate transactions outside of U.S. dollars. And although the mighty petrodollar is still used for oil trading, that could potentially change in the future. Some might even argue that the deal between Saudi Arabia and the U.S. to negotiate oil in dollars is the only glue left holding the dollar together.
A dollar collapse could spell disaster for your investments and way of life…
Imagine for a moment that you have worked hard and accumulated a nest egg of $1.5 million dollars. At first glance, a retirement account of this size might seem impressive and could potentially last someone for the rest of their life.
Now consider what could potentially happen if the dollar collapsed and lost 30, 40 or 50 percent of its value.
That $1.5 million is not going to go very far is it?
Now further imagine:
- Skyrocketing food costs
- $7 – $10 gasoline
- Obscene medication costs
- Sharply higher import costs from clothing to household products to autos
- Widespread unemployment
- Real estate market turmoil
That’s just the tip of the iceberg…
Now ask yourself this question: Do I have assets in my portfolio that could potentially gain in value if the dollar declined in value?
Unfortunately for many people, the answer to that question is NO.
If you fall into the “NO” category, the time to take action is now. Don’t wait for a further decline in your purchasing power before acting. If a major dollar collapse were to take place suddenly, the potential effects could be swift and severe – and by then it might be too late to act.
Gold, silver, and other precious metals are assets that can potentially hedge against a dollar collapse. Gold is a dollar denominated commodity and often exhibits an inverse correlation to the currency. When the dollar is higher, gold may be under pressure. When the dollar is declining, gold may see buying interest and prices may rise.
Even outside of the gold/dollar relationship, a dollar collapse could potentially cause widespread panic. Investors may look for perceived safe havens to put capital to work in. Considering the fact that gold has been considered a reliable store of wealth and value for thousands of years, it stands to reason that gold could potentially skyrocket in such a scenario.
Get your hands on some physical gold now. If the dollar collapses, gold could potentially move significantly higher and buying it may become difficult, if not impossible at that point.
Your IRA account may be the ideal vehicle for buying and holding physical gold, silver, and other precious metals. If you don’t have an IRA, now is a great time to set one up and begin building a precious metals portfolio.
All it takes is a phone call. Speak with an Advantage Gold account executive to discuss your options. Our account executives will walk you through the entire process and answer any questions you may have. Take steps to potentially protect your portfolio and financial future now. Call us today at 1-800-341-8584.Tags: advantage gold, death of petrodollar, dollar collapse, gold, retirement, safe, silver