I would like to know if and how to get my pension out of mutual funds and into an IRA, or other type of account, where later I could convert to precious metals.
2006-09-26 15:49:00 · 2 answers · asked by Tim 47 7 in Business & Finance ➔ Investing
I don't want to put all my money into metals, but maybe a third.
Otherwise if the economy goes belly up and currency is devalued by hyper-inflation, all the strength of my pension will be consumed.
With metals there is at least the actual tangible value of the metal which will supercede the loss of value in currency. Thus making it a partial hedge against economic collapse.
2006-09-26 16:05:05 · update #1
seems to me that you would take hit from the taxman!
2006-09-26 15:49:53 · answer #1 · answered by Pierre Anzion 2 · 1⤊ 0⤋
That does not sounds like wise investment choices - I think you should consult with a financial professional. All that may do if I understand you correctly is leave you will less money and a hunk of gold or whatever precious mineral you are planning to invest in. Remember precious minerals don't pay interest - buy bonds would be a better idea.
2006-09-26 16:00:34 · answer #2 · answered by Anonymous · 1⤊ 0⤋