“A large number of parents and grandparents are putting themselves into debt to finance college educations, and this means they have less money available to look after themselves for retirement…”
Gold prices surged this week amidst ongoing turmoil in the stock markets. The political drama in Washington surrounding President Trump has markets on edge and investors jittery. But while stocks saw large daily losses, gold cemented its status as a safe haven, at one point seeing a $50 increase over last week’s prices.
Stock markets have been on pins and needles the past several days as more and more bad news continues to leak out of the White House. From allegations of passing intelligence to the Russian Foreign Minister, to the ongoing search for a new FBI director, to reports of a major shakeup of senior White House staff, news reports coming out of Washington nowadays almost read more like soap operas than news.
“Planning for a retirement that’s 10, 20, or 30 years in the future is difficult enough, but it’s even more difficult when you can’t anticipate how severe or how frequent market corrections will be. Wouldn’t it be nice to be to able to plan for your retirement and know that your assets will be protected in any eventuality?”
“I see something else on the horizon: another economic crash, just around the corner—caused by the Federal Reserve System and its monetary policy. I’m not the only one, either. There are plenty of economists and financial experts who agree with me…” -Ron Paul, Former U.S Presidential Candidate
Gold’s slight tumble from mid-April to mid-May isn’t an alarm bell for investors — historical trends indicate that gold always climbs back to new peaks. In fact, the slight decline in gold is actually good news for patient investors, especially those looking to hold gold assets long term as part of a retirement savings strategy.
Like many other commodities, gold has long been used as a hedge against currency devaluation, particularly against the gradual inflation that is symptomatic of today’s monetary system. A new law passing in Arizona is creating more benefits for gold investment by removing taxation of precious metals — including gold — at the state level.