Before investing in silver for your retirement, we recommend that you check out the pros and cons of investing in silver. Their are two primary ways that you can invest in silver. You can invest in a silver IRA that would be setup to hold silver coins or bars in a government-approved depository. The silver would be held within your silver IRA as an investment for your retirement. The other option is to purchase silver directly in the form of silver bars, coins, or jewelry and store the metal at home or at your preferred bank.
We recommend that you invest in silver bars or coins through a silver IRA. You can setup an IRA with gold, silver, platinum or palladium. Silver is an excellent choice for an IRA because of the benefits that the metal has to offer. Setting up a silver IRA will require that you purchase silver bars or coins that meet certain IRS requirements and then transfer them to a government approved depository to hold for your retirement.
Pros of Investing in Silver:
Cons of Investing in Silver:
Investing in silver is an excellent opportunity with some real benefits. It is recommended that you invest 10% to 20% of your savings into precious metals. This is a great way to diversify your portfolio and protect yourself against market risk if something were to happen that might weaken the US dollar. Investing comes with risk, but their is a lot less risk to your savings by spreading it out over multiple investments.