You’re either exploring the opportunity to take control of your future by investing in an IRA, or you’ve already made that big first step and now want to ensure you’ve select the best gold IRA that’s right for you. The fact remains, many people struggle with the decidedly tough decision to begin investing in retirement. By making the responsible choice to learn about your options, you are setting yourself up for a more lucrative and secure future. Whether you’re unsure of the definition differences between a Roth ref.: self-directed gold IRA from Forbes.com and a traditional one, or you’ve suffered through a chorus of muddled, conflicting, and often confusing messages from finance professionals on which option is better. This article will illuminate the different paths for your future so you can confidently decide which choice is right for you.
In the realm of finance, especially personal finance, it’s essential that you take an active role in managing your money. This starts with independent research, removed from outside influences that may not always share your priorities and goals. I don’t stress this approach lightly because I don’t take anything involving money lightly. Candidly, I like money. I like collecting it, growing it, and accumulating as much of it as possible in the hopes that one day I’ll be able to use my wealth to make a meaningful contribution to my family and the causes I’m passionate about.
It’s a goal, and understanding yours is a vital part of taking control of your future. The first step in this process is research and in my research, I’ve discovered that your financial advisor may not always know best. The regrettable truth is that your goals may not always coincide with the incentives of your financial advisor and although the title may be one that infers expertise and insight, ultimately this is a stranger that you’re putting the trust of your assets, your wealth, and your future in. It’s not only poor form to practice blind trust about everything you’ve worked so hard for, but it’s also irresponsible. For example, think about when you’re shopping for a new laptop, car, or vacation and how much effort you put into it. You’ll speak with sales associates, shop different stores, compare reviews, weigh pricing options and more. When it comes to retirement, this same effort is often absent. That same healthy skepticism that we carry while interacting with any sales associate should not be overlooked or cast aside just because the title, “financial advisor” doesn’t sound the same alarm. Rest assured, the direction you’re receiving from your financial advisor can be steeped in their interests and at your expense. This is why whenever I hear “financial advisor,” alarm bells go off in my head. This is not the time to sit back and coast on the potentially conflicting advice from this person. No, this is where your fact checks, read the fine print, learn your options, and dig in.
I remember one visit from our company’s financial advisor to meet with employees and to offer professional/recommendations on funds, investment strategies, and future planning. I caught up with one of my colleagues after his 30-minute meeting with the finance guru. Together we went to www.morningstar.com to research for ourselves the fund he’d been directed towards. Our findings were shocking. This fund was the second worst fund available, with seemingly no upside for my coworker. The long-term track record was only 3%, and the recent track record wasn’t any more encouraging. The prior year had been a bull market, with the S&P gaining over 20%, yet this stock was only up 7%! However, once my eye caught the expense ratio it very quickly became clear why my misguided colleague had been recommended a subpar fund. The expense ratios are how financial advisors make money; the higher the expense ratio, the more money a financial advisor walks away with. This fund’s expense ratio was the highest. With this recommendation, my friend’s loss would be the financial advisor’s gain.
This story is just one example of many that demonstrate why it’s imperative to take ownership of your financial future by doing your research and being informed enough to make your conclusions. Everyone knows Bernie Madoff, but he is far from being the only one guilty of profiting off another person’s naive trust. Ultimately this isn’t just about being informed, it’s about protecting you, protecting your family, and protecting your future – more at http://bestselectgoldira.com/ I wrote this article to help provide that same insight and guidance that I so often found sorely missing from this industry. I’ve known a lot about IRA’s for a while, but that’s only half the puzzle. The other half is understanding which one is right for you. Putting your money in the wrong IRA can be the difference of hundreds of thousands of dollars when you retire. There’s too much riding on this to put your head in the sand and leave it to others to manage. This is your future here. Let’s take control; let’s dig in.