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5 big signs a gold IRA makes sense for you
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In today’s economic landscape, many people are looking for alternative investment strategies to help safeguard their retirement funds. And, that makes sense. All it takes is a sudden downturn in the stock market or an unexpected economic shift to have a big impact on your retirement savings — and if you aren’t careful, you could end up losing a lot more than you bargained for.
So, finding a way to secure your retirement funds is crucial, no matter how close (or how far) you are from retirement. That’s especially true right now, a time marked by persistent inflation, high interest rates and other economic challenges, all of which are wreaking havoc on people’s finances — and, in turn, their investment portfolios.
And, one way to do that is with a gold IRA. A gold IRA functions similarly to a traditional IRA, but it allows investors to diversify their portfolios by including physical precious metals, particularly gold, as part of their retirement assets. A gold IRA can be a smart tool to utilize for retirement, but if you aren’t sure it’s the right choice for you, there are a few signs that indicate this type of IRA could be a sensible option.
Ready to open a gold IRA? Find your top options here.
5 big signs a gold IRA makes sense for you
If you’re trying to decide whether a gold IRA is the best move for your retirement savings, keep an eye out for these signs:
You want to diversify and add stability to your portfolio
One big sign that a gold IRA could be a prudent move for you is the desire for a more diversified portfolio. While traditional investment assets, like stocks and bonds, are a common component of most people’s retirement portfolios, these assets are also susceptible to market volatility and economic downturns. Gold, on the other hand, has historically demonstrated a negative correlation with other asset classes.
What this means is that when traditional investments falter, gold often remains stable or even experiences an increase in value. So by adding gold to your retirement portfolio, you can create a more resilient and balanced investment strategy, reducing the overall risk of your holdings.
Get started and open a gold IRA online today.
You want an inflation hedge
In times of economic uncertainty, like what we’ve been experiencing over the last few years, inflation issues can erode the purchasing power of your money. But gold has long been recognized as a hedge against inflation, making it an attractive option for investors looking to protect their wealth.
Unlike paper currencies, which can be devalued by central banks printing more money, gold retains its intrinsic value over time. And by incorporating a gold IRA into your retirement plan, you position yourself to counter the erosive effects of inflation and potentially preserve the purchasing power of your savings.
Your goal is to find a safe haven for turbulent times
Global events, geopolitical tensions and financial crises can have a profound impact on financial markets — and, in turn, your retirement investments and savings. That’s why, during times of uncertainty, savvy investors will seek safe-haven assets to help shelter their wealth.
And gold, with its tangible and intrinsic value, has historically served as a reliable safe haven in turbulent times. If you are concerned about the potential for economic instability or geopolitical unrest, a gold IRA can provide you with a secure anchor for your retirement savings, offering peace of mind in the face of these or other challenges.
Your goal is long-term wealth preservation
If your primary goal for retirement is long-term wealth preservation, a gold IRA can be a strategic addition to your financial plan. Unlike certain financial instruments that may have a limited lifespan or are subject to the volatility of the market, physical gold has stood the test of time as a store of value.
By holding gold in your retirement account, you position yourself to preserve wealth over the long term, ensuring that your savings maintain their value and purchasing power. And, that’s true even as you navigate through the various stages of retirement. So if your goal is long-term wealth preservation, a gold IRA could make a lot of sense to consider.
You need more portfolio flexibility
Every investor has unique financial goals and risk tolerance levels. And, the flexibility of a gold IRA allows you to customize your retirement portfolio according to your specific needs.
Whether you choose to allocate a small percentage or a more substantial portion of your retirement funds to gold, the ability to tailor your investment mix provides you with greater control over your financial future. A gold IRA also offers a complementary option to traditional retirement accounts, giving you the flexibility to adapt to changing economic conditions and market dynamics.
The bottom line
A gold IRA can make sense as an addition to your retirement portfolio — no matter what your overall goals are. But if you have a desire for portfolio diversification, a need for an inflation hedge, are looking for a safe haven, want to focus on long-term wealth preservation or value the importance of portfolio customization, those factors are good indicators that a gold IRA might align with your financial goals in particular. Before making any decisions, though, it’s crucial to carefully consider all aspects of your retirement plan. That way, you can make an informed decision about whether a gold IRA is the right choice for securing your financial future in retirement.
In Hollywood, a land known for marquees and famous signs, there’s probably no sign that’s more on the nose than the store Just Food For Dogs. There, four-legged customers sample today’s offerings, while their owners stock up on the food.
Sarah Rector and her French bulldog, Lulu, are buying her regular order, including beef with russet potato, and venison with squash. Rector says she feels better buying the store’s food for Lulu rather than commercial dog food: “I just know that she’s getting the best possible, like, ingredients and health and overall wellness.”
She and her husband don’t have children, yet, but they have another French bulldog, “so I feel like we have kids.”
It’s tempting to write this off as a trendy L.A. fad, but Just Food For Dogs president Carey Tischler says this store is here because of a permanent shift in the roughly $50 billion U.S. pet food industry. “The last year of research shows that 82% of families think of pets as family, or as children, and that’s up significantly,” he said.
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Joe Ovalle is Just Food’s guest experience manager. He says all of their pet food is approved by the USDA for human consumption. “It is human-grade food, something you and I could eat,” he said.
He sampled one of their recipes, for fish and sweet potato. “Oh my God, it’s like ceviche,” he smiled.
It may seem a bit indulgent, and can cost double the price of Kibbles, but some say that feeding our dogs natural food is what we should have been doing all along – and making it yourself can cost the same as buying food from the store.
“It’s about going back to what is biologically appropriate, that they ate for tens of thousands of years,” said pet nutritionist Christine Filardi. “They ate prey animals and table scraps. So, I’m just educating people on how to go back to what they ate for tens of thousands of years prior to commercial pet food.”
Stewart, Tabori & Chang
Filardi is author of “Home Cooking For Your Dog,” a cookbook offering recipes with what she says are the three necessities: animal protein, a carb, and a veggie, as well as a few extravagant treats, like her bacon and cream cheese muffins.
Filardi says whether it’s store-bought or home-cooked fresh food, the results are the same: well-fed animals live longer, have cheaper vet bills, and are happier … which makes the owners happy, too.
“They take such good care of us,” she said. “We should take good care of them.”
RECIPE (FOR DOGS): Hearty Hamburgers
RECIPE (FOR DOGS): Friday Playdate Pizza
RECIPE (FOR DOGS): Bacon and Cream Cheese Muffins
RECIPE (FOR DOGS): Ground Turkey, Quinoa, and Carrots
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Story produced by John Goodwin. Editor: Joseph Frandino.
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The island of Maui is a mere dot in the enormity of the vast Pacific Ocean, but it’s not hard to see why millions visit every year, and why there are some who never want to leave. Fleetwood Mac founder Mick Fleetwood fell in love with Maui decades ago, and put down deep roots. “Long story, a long love affair,” he said.
“But it really is your heart and your home?” I asked.
“Uh-huh. People often think, ‘Oh yeah, how often are you on Maui?'” Fleetwood said. “This is my home. No other place.”
As a young man he’d dreamed of a place, a club, where he could get his friends together, and 12 years ago he made it happen in the west Maui city of Lahaina: Fleetwood’s on Front Street. The menu was eclectic – they served everything from Biddie’s Chicken (just like Fleetwood’s mom, Biddie, made it) to cookie dough desserts dreamed up by his children. It was also a place where Mick and friends could play. “We created, I created, a band of people under a roof,” he said. “Instead of a traveling circus, it was a resident circus at Fleetwood’s on Front Street.”
And then, in August of 2023, the music stopped.
A wind-driven fire tore through western Maui, killing more than a hundred people, and consuming more than 2,000 buildings. Fleetwood was in Los Angeles when the fire started, and he hurried back to a scene of utter devastation.
And his beloved restaurant? A charred sign was about all that was left.
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I said, “I understand your not wanting to be, ‘Me, me, me,’ especially in light of the lives that were lost, the homes that were lost; you don’t want to make too big of a deal out of a restaurant.”
“No.”
“But at the same time, this was your family. This was your home. That must’ve been a huge loss.”
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“It was a huge loss,” Fleetwood said. “And in the reminding of it, that wave comes back. Today knowing we’re doing this, I go, like, Okay, this is gonna be … a day.“
We took a walk with Fleetwood down the street where his place once stood: the last time he was here, the place was still smoldering. “Literally, parts of it were still hot,” he said.
More than a year later, the Lahaina waterfront is still very much a disaster zone.
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The decision about what to do with the land is still up in the air; the priority is housing for the displaced residents. But Fleetwood says he’s determined to rebuild, just maybe not in the same place.
Asked what he pictures in a new place, he said, “For me, it has to encompass being able to handle playing music. There has to be music. We had it every day. That’s a selfish request!”
But before anything is rebuilt, there’s still a massive cleanup that needs to be completed here.
“We will see,” he said. “You have a blank [canvas] to paint on, and there’s a lot of painting to do.
“You have to be careful, even in this conversation, of going like, ‘How sad that was,’ when really it’s about, ‘Yes, but now we need this.’ In the end you go like, it happened. And what’s really important is absorbing maybe how all these things happened, and can they be circumnavigated to be more safe in the future, and be more aware? Of course that’s part of it. But the real, real essence is the future.”
Fleetwood’s ukelele is one of the few things that survived the fire, and he’s hoping his dream survives as well.
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For details about helping those impacted by the August 2023 fires, and for the latest on recovery and rebuilding efforts, including housing, environmental protection and cultural restoration, visit the official county website Maui Recovers.
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Story produced by John D’Amelio. Editor: Steven Tyler.
“Sunday Morning” 2024 “Food Issue” recipe index
Delicious menu suggestions from top chefs, cookbook authors, food writers, restaurateurs, and the editors of Food & Wine magazine.
