Do you bury your gold like a pirate? Or, do you hide your gold and other precious metals in shoeboxes sitting around your house or under the bed? Do you know how to store gold and other precious metals to keep them safe?
Many people love investing in gold, silver, and other precious metals. They can make a great addition to your investment portfolio and round out your primary retirement investments in your Roth IRA and 401k retirement plan. But, many people don’t even realize that they can take physical possession of their gold and precious metals.
There are two schools of thought on where to keep assets like precious metals. You can take physical possession of your investment in gold, silver, and other precious metals. Or, you can have an investment company hold your metals for you at their location in an account.
There’s no right or wrong answer to your choice. It’s strictly a personal choice and preference. But, there are some benefits and drawbacks to each option that you should be aware of.
My Father-In-Law Hides His Silver Under the Bed
My father-in-law likes to have his precious metals where he can see them. So, he hides his silver, his favorite precious metal investment, in shoe boxes underneath his bed. It always blows my mind, and it may be a generational thing. He likes being able to physically see his investment.
My mother-in-law always tells us to to check every book in the house after she dies for hidden money. They have hidden jewelry, silver, gold, and other precious metals around the house as well. It may be a family scavenger hunt one day to find it all.
I’m not saying that you have to go to that extreme when you are trying to figure out how to store gold and other precious metals. There are plenty of other places to store your gold and other precious metals instead of a shoebox or under the mattress though.
Do you hide gold coins or precious metals under your bed? Where do you keep your valuables?Click To TweetHow To Store Gold The Right Way
Investment Firm
You can have an investment firm who specializes in precious metals, like Noble Gold Investments, hold your stockpile of gold, silver, and others for you. You can roll over an IRA or convert a 401k retirement plan from a previous employer in a self-directed IRA that owns precious metals. Your precious metals are then secured at an insured depository and managed by an IRS approved custodian like Noble Gold Investments.
You also don’t have to use a retirement account to store gold and precious metals with an investment firm. You can also open a regular taxable investment account to manage your gold investments instead of holding precious metals in a retirement account like an IRA.
You can also open a direct investment account where the investment firm ships the metals directly to your doorstep fully insured and within five business days. They can also store the metals fully insured for a small fee annually.
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No matter what stage of your life you are in, it is important to consider your investments and to think forward with regards to your money. Whether you are a young professional that is just starting their career, or an experienced veteran with a diversified portfolio, you want to be sure your money is safe by investing in as many different places as possible.
