Is An Individual Retirement Account the Best Option for You?

A lot of people want to go the safe route when it comes to investing. You have worked hard for your money, and you want to put it in a place that will give you a fixed percentage. That is why most people choose exchange-traded funds or index funds which have a low probability of declining. 

However, the most important thing you should pay attention to is the compound interest effect. If you start investing a fixed amount of money every week for 40 years, then you are going to become a millionaire in that timeframe. Of course, the main question is how to pick the best place to put your money and how you can maximize the profits. Follow this link for more information –


When it comes to investing, a lot of people want to trust exchange-traded funds. This is an option that most expert investors try to stay away from. There are plenty of reasons for that. First, let us start with the basics. An ETF is supposed to mirror the price of a specific index. 

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That could be the Dow or the S&P 500, and some of them can be completely built from scratch. Currently, the United States is trying to pass a cryptocurrency-based ETF. Some also follow the prices of commodities such as silver, gold, and oil. 

Exchange-traded funds are amazing assets and tools that you need when you want to trade, but they are not the best option long term. Click here to read more.  Investors that have a lot of skin in the game do not trust them because they believe these institutions are used to manipulate and influence the prices of precious metals and other assets. 

James Turk has spent thousands of hours poring through millions of pages of data to come to this conclusion. He paid attention to the claims of the ETFs, as well as the statements of the SEC. The things he found did not make a lot of people happy and excited. His findings report that the liquidity of certain ETFs can change and decline independently to the prices of the precious metals they are supposed to mimic. 

That is not a safe way to store your wealth. Even the SEC has reported that these ETFs are designed to make investments that are like real investing in gold or silver. Investors started asking what these statements meant. 

What exactly is an investment that is like buying precious metals? If these companies have stores of physical wealth, then what is the factor that can make the prices differ? Since no answers were given back, this option remains risky.  

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Gold Certificates 

When someone wants to invest in gold, the easiest option is to buy a certificate. This is a representation that the institution owes you some gold, and they need to repay it to you someday. Before the 70s, that is how the dollar functioned. 

You could take a paper bill, go to the bank, and get some gold in return. The banks kept stores of gold and issued out as much money as they had precious metals in their reserves. This was a great way to keep the economy going. 

However, after the 70s, the link between the dollar and gold was cut, and now the paper money is worth as much as the government says it is. A certificate is the same thing. It is an accounting record of a paper pledge. 

There are a few reasons why someone might want to get this type of account. First, it is quite easy. Secondly, it is quite cheap. Today’s investors love it when things are cheap, easy, and simple. Instead of getting the real deal, they are getting a security pledge that will give them an ounce in return in the future. A keyway to look at these types of investments is to look at whether there is a storage fee. If there is no storage fee, then there is no gold, and there is no silver.  


Individual retirement accounts are the best option to choose if you are new to investing. If you are a beginner, the stock market is going to look like a bunch of graphs that are going crazy and percentages that are changing every second in no order and with no cause whatsoever. 

On the other hand, real estate requires a hefty sum to start and get it going. This leaves an IRA as the default option, which provides tax-free withdrawals. Of course, the tax part is true if you fulfill certain requirements. 

The most important thing to remember about this asset class is that you must pay taxes to the state on the cash that you plan to put in it. However, the good news about it is that if you finish that step, every next withdrawal is going to be completely for yourself. 

Another interesting fact about IRAs is that you cannot make one if you are earning too much money. There are limits to it. If you are single, then the maximum amount of money you can put in is 140 000 dollars. 

On the other hand, if you are married, then both of you can put up to 200 000 dollars in an account. This is because it is an option for people with low to medium income to make more money. You can make an account in a bank, online, in an investment firm, or a brokerage company.  

A few final words 

No matter which option you choose, it is important to be consistent. If you invest a hundred bucks and you stop there, the amount of money you will receive in the future is going to be minuscule. To feel the effects of compound interest, you need to be disciplined and set a number that you are going to put down each week or month. This will teach you how to live below your means and make smart payments. By doing that, you’re going to ensure a stable economic future.