Welcome to my new blog. As you’ve probably noticed, it’s called oxtersolutions.com and just as the name implies, we are going to be offering solutions to inquiries that come into us via our sister site’s (who shall not be named) mailing list. That way, we hopefully can help out a few people who are looking for information on particular topics. So without further ado, let’s get going.
Our first question
Our first question comes from a person who is concerned with the current and future state of the economy. This person has asked us: “I’m currently approaching the midpoint of my career and I’m growing more and more concerned about my retirement and whether or not the money I have and am saving will maintain its value throughout my twilight years. Given that the state of the US economy is unpredictable at best, I want to know what is the safest way to invest my retirement funds so that they don’t lose their value over time”.
That’s a great question and one that should be concerning a whole lot of people, not just people approaching retirement. Young people who are just at the beginning of their careers should also be looking into this RIGHT FREAKING NOW because the US dollar offers no guarantee. We’ll also look into why setting up a gold IRA is the best option right now and how companies like Regal Assets can help people do that quick and easy.
Why is the US dollar unpredictable and unreliable?
Let’s start with the obvious question. Why is it that the US dollar is always going up and down? Here’s a little history lesson. Up until the early nineteen-seventies, the US dollar was backed by gold. What that means is that each and every US paper bill represented a set amount of gold that was held by the US treasury. So, holding paper money was the equivalent of holding gold in your hands. And, because there was only a set amount of gold in the reserve, there was only a set amount of dollar bills that the United States government could print. And if at any time a citizen holding paper money in their hands wanted to trade that in for gold, they could do it without any fees or anything. This was done to make trading and buying stuff easier since paper money is obviously a lot more convenient to carry around than coins and bars of gold. That stuff get heavy,
However, in the early nineteen-seventies, the US government made the announcement that paper currency would no longer represent a set amount of gold and that it could no longer be simply traded in for gold. At this point, the US economy became what is known as a fiat currency, i.e. not backed by anything but make belief. This is what many people believe is the greatest heist in the history of humanity. People essentially trusted their government with their gold and overnight the government decided to keep it all for themselves, basically saying “trust us”.
The printing press gone wild
Now since the dollar was no longer attached to gold, this left the US government free to print as much money as they wanted. However, the catch is that each and every dollar printed diminished the overall value of each dollar. That is why a loaf of bread used to cost a nickel and how today it costs 3 to 4 dollars.
What’s the solution? Going old school
The solution to getting out of the whims of the US dollar is to “go back in time” and buy gold. Of course, this entails buying it on your own dime and terms but given that gold doesn’t fluctuate and has only risen over the last 50 years or so, it makes it the best investment you can make with your money. You can easily see for yourself, as the US dollar has dropped consistently, the price of gold has risen just as predictably. Of course there are minor up and down fluctuations day to day but the overall trend is one of growth, always has been.
Find a good gold IRA company
Most Americans have their retirement money placed in a retirement account, either an IRA or 401(k). However, what most don’t know is that that money can be placed into precious metals such as gold via a gold IRA account. There are many companies out there that specialize in helping people setup their own precious metals IRA and all you have to do is look around.
So to our reader who first sent in this question, there is your answer: gold. It will never lose its value because it cannot be created. Sure, there is a cost involved since it is a purchase, but there are great tax benefits and once again, it carries little to no risk.