Should Silver Be In Your IRA Portfolio In 2014?

A silver IRA account is a traditional IRA account, backed by IRS approved, physical silver bullion and coins. After you do a silver IRA rollover, your account will have the same features as a standard IRA account, and provide a simple, structured means of achieving your investment targets and saving for retirement. Undoubtedly, in 2014, having a silver backed IRA, rather than an IRA backed by dollar assets (like money market accounts, bonds and stocks), will offer you numerous advantages.

silver ira

When you come to retire, if your IRA includes a precious metal like silver, your IRA custodian will send you real silver bullion and coins via insured mail, as opposed to checks for dollar amounts. Hence, your silver IRA investment is not vulnerable to dollar devaluation, or other factors that can negatively impact on the dollar’s value — like boom and bust economic cycles and government spending. Cautious investors, who want to protect their wealth, are turning to Silver IRAs to firm up their plans for retirement.

The simple philosophy behind this tactic is that, with the alarming increase in US government spending and quantitative easing by the Federal Reserve, dollars have become abundant. Whereas silver, which is a rare commodity already, is being increasingly used in industrial and manufacturing processes. Investors are considering whether silver will be scarcer than dollars, once they retire. Lots of Americans are forming the same opinion — basic supply and demand economics ensures that Silver IRAs are a wise choice for wealth protection. The top five reasons why silver should be in your IRA portfolio in 2014 are as follows:

A Silver IRA protects you From InflationĀ 

Over the centuries, precious metals such as silver have been a dependable way to preserve wealth. This is due to the demand these metals create in the marketplace, and their scarcity. In the modern roller coaster economy, characterized by government spending policy and currency manipulation, a silver backed IRA is a tangible asset, which has an intrinsic, consistent value.

A Silver IRA Provides Diversification

Silver is a great way of diversifying your portfolio as a whole. It complements your investments in other precious metals, like gold. Also, it hedges different investments, like stocks, bonds and real estate.

There is a Limited Supply of Silver

Supply and demand is the driving force behind all economies. These two principles are integral to pricing and value. Experts believe that eighty to ninety percent of the planet’s silver has been mined already, and is currently being used for investments and in industrial processes and products. The remaining ten to twenty percent, which has yet to be sourced from the crust of the earth, is silver ore. This is impossible (or much more difficult) to mine with existing technology. Hence, reduced production will limit the supply of silver even further.

Silver is Practical and Accessible

Historically, silver trades at a lower market value than other precious metals, like gold. Potentially, this enables retirees and investors to use silver to trade and barter for every day products. Regardless of how the dollar or the economy performs, if you own a silver IRA, you can withdraw physical silver coins from your account. You can spend these on day to day retirement expenses like food, medical supplies, and college fees for grandchildren and travel.

The Demand for Silver is Rising

While the demand from investors plays a large part in determining the value of silver, the increased demand from industry is very significant too. Silver is used to make Apple iPhones, car windscreens and lots of other consumer electronic items. As a result, once the economy starts to improve, the demand for silver grows as consumers purchase more electronics, appliances and cars.

Choosing the Best Silver IRA Custodians to Manage the Rollover of Your Silver IRA

To successfully invest in silver IRAs, you have to find top silver IRA custodians, who are conversant with all the silver IRA rules. There are many of these custodians to pick from. Thus, it is vital that you take the time to locate the best silver IRA companies that provide every service you require. Online silver IRA reviews will help to narrow your search down.

It is important that the custodian you choose offers both precious metal investment services and outstanding customer support. When you first invest in precious metals, you are bound to have several questions about the process. Your custodian ought to address these questions promptly, and not pressure you into funding your account straightaway. Custodians from the top silver IRA companies will be investors, not salespeople.

Also, your custodian should provide a safe storage location for your assets. Federal law states that, to invest in precious metal IRAs and enjoy the associated tax benefits, a secure location has to be found to store the metal. In the majority of cases, your custodian will use an onsite depository, or a depository that he or she has an agreement with. Finally, only particular types of silver are allowed to be used in IRA accounts. A reputable custodian will be familiar with the guidelines on this, and will make sure that you buy the correct silver bullion to facilitate the security and growth of your portfolio.

The Advantages of Silver Ownership in Retirement

In the modern world of economic bubbles and political uncertainty, shrewd investors have to take into account all the potential risks, while they save for their retirement. A silver backed IRA offers diversification, and a safeguard against the very real threat that the dollar just won’t have the same value as it does today, once you retire. For as long as records began, physical precious metals, such as silver, have been used successfully to protect against inflation and preserve wealth. Consequently, they are becoming an increasingly important part of the retirement plans of many Americans. Silver IRAs are suitable for a broad range of investors, who have diverse investment and savings goals. For more details about these retirement plans, read the numerous online reviews of silver IRA companies.

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