Goldco Precious Metals Blog

Investing in Gold Isn’t Just for Old People

It’s safe to say that gold, and investing in gold, has a reputation for appealing to old people. Many investors think of gold as a stodgy, old-fashioned asset that has lost its relevance in the modern era. But an increasing number of younger people are rediscovering the allure and the benefits of investing in gold.

Goldco has long specialized in helping people establish a gold IRA, a tax-advantaged investment vehicle that allows investors to invest in physical gold coins or bullion while still enjoying the same tax benefits as a conventional IRA. A gold IRA can be either Traditional or Roth, and you can roll over or transfer assets from existing retirement accounts such as a 401(k), TSP, IRA, or similar retirement account into a gold IRA tax-free. That allows you to protect gains from your existing retirement accounts while taking advantage of gold’s potential for future price gains.

The downside to a gold IRA is that it’s most cost effective for investors who want to protect large amounts of retirement savings, generally $50,000 or more. Investors who don’t have that much money to protect, or who want to invest less than that in gold, often try to look for other options.

Younger investors in particular often don’t have that much money saved up in retirement accounts. But they still want to invest in gold, and they understand the many benefits that gold has in terms of financial stability, maintenance of purchasing power, and portfolio diversification.

Gold Investment Options for Younger Generations

Indeed, the UK’s Royal Mint has noticed a five-fold increase in the number of young people interested in investing in gold. The Royal Mint has a digital trading platform that is popular with younger generations, and interest from younger investors seems to have picked up recently as gold has become more popular with younger people.

Younger investors who have significant investments in tax-advantaged retirement accounts are certainly free to invest through a gold IRA. Establishment of a gold IRA can open up new investment possibilities and allow them to diversify their investment portfolios. And because of the ability to roll over or transfer assets between like tax-advantaged retirement accounts, a gold IRA can also function as another wealth management tool for younger investors.

But for younger investors who don’t have tens of thousands of dollars in retirement assets to protect, there are still plenty of options available to them. Investing in gold coins or bullion is one of them, and it’s never been easier.

When most people think of buying gold, they may think of international gold marketplaces in New York and London, with huge bank vaults like the New York Fed’s gold vault. Or they may think of coin shops which, while still around, aren’t nearly as popular with younger generations as they were with Boomers or Gen-Xers. But with the digital revolution and online commerce, buying gold coins can be as easy as clicking your mouse.

Goldco may be a specialist in gold IRAs, but as a full services precious metals firm we also offer direct sales of precious metals coins and bars. If you’re looking to buy gold coins, silver bars, or platinum and palladium bullion products, we have a range of options available for you.

If you decide to buy gold coins or bars, you can choose to have them stored at a depository, shipped to your location, or you may even qualify for free storage. No matter what precious metals products or services you want, Goldco’s experts will do their best to get your the products and services you need.

Gold as a Long-Term Investment Asset

One reason those nearing retirement decide to invest in gold, such as through a gold IRA, is because gold has a reputation for being a stable, safe, and dependable asset. That’s certainly true, but that doesn’t mean that gold is only an asset that can be used to maintain wealth into retirement. Gold can also be an important asset in building up wealth over the long term.

The performance of gold and stock markets has been nearly identical since President Nixon closed the gold window in 1971, and it’s only recently that stock markets have made up the lead that gold has had on them since that time. Looking back over the past 20 years, gold has outperformed both the S&P 500 and the Dow Jones Industrial Average significantly, with a nearly 10% annualized rate of growth, versus around 6% for the two major stock market indexes.

That’s an indicator that gold may have shaken off its reputation as a stodgy asset only sought after by retirees and those looking to protect their wealth. Going forward, gold could be an important part of investment portfolios looking to build even greater wealth. And that will especially be true if the US economy continues on the downward spiral towards which it appears to be headed right now.

If you want to learn more about how gold can benefit your investments, talk to the experts at Goldco today. With over a decade of experience helping tens of thousands of customers benefit from gold, they’ve seen it all. Whether you’re young or old, looking for a gold IRA or just some gold coins, Goldco’s precious metals specialists can help you put gold to work for you.

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