Are you saving enough for retirement? Chances are you aren’t. You are not alone, unfortunately. More than half of America’s workforce isn’t saving enough money to maintain their lifestyle. A large portion of these people aren’t even saving any money, which can be very costly financially. Although many people think that Social Security will provide an income, the reality is that it barely covers basic living expenses and does not cover rising healthcare costs. You won’t be able to do the things you dreamed of doing when you have more time, such as travel, hobbies, and so on.
Experts in financial planning advise that investing in a retirement fund early is key to financial stability. This advice was not taken by many. You may be wondering if you have enough time to save for retirement. The answer is a clear yes. If you know what your options for retirement savings are.
If you’re looking to retire in five to ten years, a traditional IRA and 401k won’t help you. If you have more than 15 years before retirement, they may not be able to offer sufficient return potential. Most retirement fund managers have access to investment portfolios that are grounded in unstable paper-backed investment vehicles such as stocks and bonds. The current economic instability means that traditional retirement portfolios cannot be expected to grow in value quickly enough, or at all, to provide sufficient income for retirement.
Self-directed IRAs, such as the ones offered at Goldco Precious Metals, can be. Self-directed IRAs, which are IRS-recognized IRAs, allow you to invest in your retirement savings and grow it much faster than other options. You can diversify your portfolio with self-directed IRAs and protect your savings against loss by having more flexibility.
You want to learn more about self-directed IRAs? How can you get started? Visit Goldco Precious Metals today to read their self-directed IRA FAQ. If you have any questions after reading their self-directed IRA FAQs online, contact Goldco Precious Metals to speak with a knowledgeable, friendly self-directed IRA expert and discuss your specific situation. A self-directed IRA from Goldco Precious Metals is a great way to save money for retirement. For more information, please visit goldcopreciousmetals.com/self-directed-ira.