The road to retirement can be a long and arduous journey. There are many potential pitfalls along the way that can derail your efforts and set you back. The sooner you begin building your financial fortress, however, the more likely you will be able to not only meet your objectives, but perhaps exceed them.
Here is one simple trick that has the potential to not only boost your retirement nest egg but also has the potential to protect the wealth you have worked so hard to accumulate:
Pay yourself first in gold…
The concept of paying yourself first has long been wise advice. Your life is filled with bills and financial obligations, but making it a point to pay yourself first may allow you to build a financial fortress to be reckoned with.
Paying yourself first in gold carves out a path for you to accumulate a vast sum of this precious metal. And it doesn’t just have to be gold. You can pay yourself first with gold, silver, platinum or palladium. The important thing is that you are accumulating more ounces of these key precious metals on a regular basis.
How do you do it?
Here is a simple example. At the age of 30, you start to think more seriously about your financial future and saving for retirement. You currently earn $70,000 per year and are paid biweekly. This equates to a gross biweekly paycheck of about $2692.31. Let’s assume for example purposes that after taxes, health insurance or other deductions, you are left with net pay of $1750 every two weeks.
Now let’s further assume that you decide to pay yourself 10 percent of every net paycheck. 10 percent of $1750 equals $175. This figure, at twice a month, equals $350 per month.
Now here is where it gets interesting…
With gold at current levels of about $1250 per ounce, $350 per month will buy you about .28 an ounce of gold. With silver at about $17 per ounce, $350 per month will buy you nearly 21 ounces of silver.
In just over three and a half months, you could acquire a full ounce of gold. In the span of a full year, you could acquire about three and 1/3 ounces of gold.
For silver, if you could acquire nearly 21 ounces per month, that would be about 247 ounces per year.
If you bought gold and silver regularly in these sums, by the time you are 70 you could potentially have over 134 ounces of gold and nearly 10,000 ounces of silver!
Now, this makes a few assumptions. First, these examples did not factor in any price increases for gold and silver and they also did not factor in any increases in your earnings.
Obviously, if your earnings rise and precious metals prices are stagnant, you could potentially acquire far more silver and gold.
On the other hand, if gold and silver prices rise dramatically, your income may not be able to keep up and you may end up owning less total ounces but your holdings would have increased in value as gold and silver prices rise.
We are of the opinion that gold and silver prices will trend higher over time and substantial price appreciation will be seen.
Possible price appreciation is not the primary reason for buying precious metals.
A significant holding of gold, silver or other precious metals may also potentially offer a degree of protection for your portfolio from issues like:
● A dollar collapse
● Runaway inflation and loss of purchasing power
● Geopolitical risks
● Equity market crashes
As the dollar is on the decline again, and as its status as the global reserve currency of choice becomes less clear, we urge you to consider an allocation in alternative assets such as gold and silver.
Gold and silver have been considered a reliable store of wealth and value for thousands of years and are coveted all over the globe. Building a substantial allocation in these physical precious metals is simple, convenient and in our view wise.
You can buy gold and silver in a cash transaction and can even buy and hold these precious metals using your IRA account. In fact, paying yourself first using your IRA may be the ideal way to build a financial fortress.
Whether you start with 1 percent, 2 percent, 5 percent or 20 percent, the important thing is to get started. Speak with an Advantage Gold account executive now about your options for buying physical gold and silver. Start paying yourself first in gold and silver. Call us today at 1-800-341-8584.Tags: advantage gold, buy gold, buy silver, gold, pay yourself first, protect your retirement, silver