A couple stored IRA gold at home and ended up on news outlets for the wrong reasons. The Rhode Island-dwelling couple owes the IRS over $300,000 for the lack of knowledge about a very significant detail in the gold IRA-investment process – It is illegal to hold IRA gold at home. This is a rule that may be unknown to many potential gold investors, and I’d urge you to read on till the end of this article to know what exactly went down, and what you ought to know to ensure that you do not end up in the same predicament as this couple. 

What Happened to The McNultys?

Investing in the present-day world calls for one to tread very carefully by ensuring that they do not get on the wrong books with the IRS. This holds for all types of assets, but you will want to practice extra caution when investing in alternative (non-traditional) assets, such as precious metals, cryptocurrencies, mineral rights, and real estate.

Unlike traditional assets, which more often than not require an investor to coordinate their investment efforts with an expert such as a broker, there is minimal supervision when it comes to investing in gold since the gold IRA structure is meant to give the investor more control and freedom. 

This freedom, unfortunately, led to Mr. McNulty and his beloved wife Donna Dearly storing their IRA gold at home. The perception most people have is that once they open their gold IRAs, they will get the opportunity to hold their physical gold at home, or at a local storage facility. 

I mean, who would not want to be smiling back at their reflection on a gold bar that they purchased using their hard-earned money? That’s what the McNultys thought too. Not for long, though. It was just a matter of time before the IRS came sniffing and established that they had broken the rules of gold IRA investing.

Upon the completion of an annual audit, the judge overseeing the case in the Tax Court gave the verdict that this couple would pay:

• $270,000 in taxes on their IRA assets worth $730,000 
• Over $50,000 in related penalties.

Putting to Rest Home Storage Gold IRA Myths

The ruling, which was given in a Rhode Island Tax Court, dispelled the myth about the storage of IRA gold at home. For many years, some Gold IRA companies have lured investors by proclaiming that one of the advantages the gold IRA owners would get upon opening their accounts was the ability to store their IRA gold at home.

The McNulty case proves how detrimental the repercussions of following such companies blindly can be. 

Many other investors who have fallen prey to such home storage gold IRA scams have mostly done so out of the need to avoid the gold storage fees, which depending on the type of precious metal depository used, can be quite high.

Thing is, however, you may save about $350 in storage fees by storing your IRA gold at home, only for you to lose thousands of dollars in taxes and penalties when the IRS finds out that you are not following the rules. 

False and Misleading Gold IRA Ads

If you are new to gold IRA investing and you have no idea about how to identify which companies in this industry are legit, then it is highly likely that you will encounter a pretty convincing Ad about how you can open a Home Storage Gold IRA.

Such Ads often carry the appeal of helping you get your hands on expensive precious metals so that you can grow your wealth faster. It is easy to fall for such lies, but the truth of the matter is that Gold, just like any other asset, is subject to price rises and declines, subject to many factors in the market. 

Most of the misleading Ads will often be coated with some truths you already know about gold IRAs, such as the fact that you can transfer or rollover the funds in your existing retirement plan ( e.g. your Traditional/Roth IRA, or 401(k)), into your gold IRA.

Such companies are usually waiting on the other end to sell you the expensive precious metals, after which they leave you out there to figure out how you will store the assets on your own. The IRS is ferocious, and if it catches you lurking in unsafe territory, it will strike hard and tear your dream of having a blissful retirement to pieces. 

****The 3 Best Gold Investment Companies in 2022 [Buying Guide & Quick Review Summaries]

I Still Want to Open a Home Storage Gold IRA, is There any Chance I can do That?

Yes. However, the odds that you will not regret your decision to do so are very low. The IRS generally prohibits home storage gold IRAs but provides an opportunity for those who would love to give it a shot to do so anyway. 

They, however, have to meet a list of qualifications, and if they are found not to be compliant, the opening of the home storage gold IRA will be perceived as a taxable deduction from their retirement account, and that as you know is not a good thing. For you to even think you could open a gold IRA, you must:

1. Establish a limited liability company in your name, and ensure that you have a special operating agreement from the IRS. 
2. Prove, after the incorporation and audits, that you have a net worth of over $250,000. 
3. Have all employees and trustees of the LLC put up $250,000 to act as corporate insurance.
4. Ensure that the trustee corporation is divided among different parties. 
5. Prove that you have verifiable fiduciary experience and that you have the capacity to handle retirement funds.
6. Choose a trustee or custodian company that has a publicly known and accessible location.
7. Have corporate legal counsel on a retainer basis. 
8. Give a detailed audit done and presented by a qualified public accountant annually. 

As you can see, an attempt to open a home storage gold IRA is akin to inviting the IRS into your business. 

The chances that your finances will be audited and that you will be perceived as a non-qualifying candidate are quite high, and they will only cost you dearly in the form of immediate taxes and penalties. 

If you are under 59 ½ years old, the IRS will strike with a 10% early withdrawal penalty, and that may severely hurt your portfolio in a manner that you may never fully recover. 

I’d generally advise that you simply follow the regular gold IRA investment process, in which your precious metals are stored in an IRS-approved depository. You can also request that your gold coins and bars be stored in a segregated storage unit.

Ok, So are Gold IRAs Worth Opening Anyway?

Well, I am sure at this point your prospects of investing in gold may be dwindling fast. This is quite understandable because no one wants to lose their retirement savings to such scams.

Now, before you turn the other way and start looking for other assets, let me drop one fact real quick- there are legit gold IRAs that you can still turn to if you need to invest in physical gold. You will, however, need to take some more time to do your due diligence.

I have been reviewing many gold IRA companies for several years now, and I have managed to shortlist a few that have proven their worth in this industry. 

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If you spot any company on that list that has the features that you are looking for, you can proceed to check out its consumer trust ratings and customer feedback on consumer trust sites such as Trust Pilot and the Better Business Bureau. 

Having a hard time deciding which Gold IRA company to rely on?

SEE OUR #1 RECOMMENDED GOLD & SILVER FIRM

Enjoyed this article about how a couple stored IRA gold at home? Let me know by dropping a comment in the section below this post. If you also have more questions about this post and gold IRA investing in general, let me know as well. Finally, share this post with anyone who you know is thinking about opening a gold IRA, so they can avoid making the grievous mistake this couple made. 

I wish you well.

Eric, Investor and Team Member at Gold Retired!

Can I hold physical gold in my IRA? If yes, how can I go about it? Today’s post will help you understand what it takes to become a gold investor, and whether using an IRA structure to achieve this objective is permitted by the law? If this is something you’ve been wanting to find out, then read on to find out more about this topic. 

SEE OUR #1 RECOMMENDED GOLD & SILVER IRA SOLUTIONS

Introduction

If you are interested in owning physical gold, then opening a self-directed IRA known as a Gold IRA is a good way to go about it. The first thing you ought to know is that you cannot hold physical gold in the regular IRAs e.g. Traditional IRAs, Roth IRAs, and SEP IRAs. It is also not possible to do so using a 401(k) account, which is one of the most common defined contribution plans you can come across today.

With most of these retirement plans, you are only allowed to hold paper assets such as stocks, ETFs, Bonds, Mutual Funds, as well as derivatives. Those who are interested in holding alternative assets as part of their retirement investment portfolios must as such open special individual retirement accounts known as self-directed IRAs. 

With a self-directed IRA, you can hold assets such as physical precious metals, cryptocurrencies, real estate, ranches, mining rights, startups, etc. 

***Also Read: The 3 Best Gold Investment Companies in 2022 [Buying Guide & Quick Review Summaries]

What are the limitations on how I can hold the physical gold?

Now that you know that you can only hold physical gold through a special IRA known as a Gold IRA, let us proceed to find out which IRS guidelines you need to follow. For starters, you are only allowed to hold IRA-approved gold, which has to meet the following requirements:

• The gold must be 99.5% pure.
• It must be sourced from a nationally accredited or an internationally recognized mint/
• Should be presented in its complete original casing or packaging.
• Has to come with a certificate of authenticity. 
• If you purchase coins, they must be uncirculated and free from any damage.
• For gold bars, they should be presented with the exact weight they were manufactured with.

The other rule that pertains to the ownership of gold through a gold IRA is that the gold bars and coins cannot be held in your possession. Despite being the rightful owner, you must ensure that the physical gold is stored in a secure off-site IRS-approved depository. You can, during the account-opening process, liaise with your gold IRA custodian for them to suggest a reliable depository where you can hold the gold. 

>>>Is it Worth Investing in Gold? Your Freedom is Under Attack!

Will I get the opportunity to hold the gold in my possession at any time?

Yes. you can withdraw the gold from your gold IRA without penalties if you have reached the retirement age (59 ½ years). Upon reaching this age, you have the option to either withdraw and hold the gold, or to liquidate your assets in which case you will receive the value in cash instead. 

Those who attempt to withdraw the gold before they are 59.5 years end up attracting a 10% early withdrawal penalty. Such a penalty can disrupt the positive growth of your retirement investment portfolio, and I’d generally advise against anyone attempting to make an early withdrawal. 

Are there any benefits of owning physical gold through a gold IRA?

Yes. Buying gold has been established to be one of the smart ways to not only safeguard your wealth but also grow it. Below are some of the top benefits of buying gold coins and bars:

1. Portfolio diversification 

Investors who put all their assets in one basket end up exposing themselves to significant market risks. It is advisable to hold some of your wealth in gold assets so that you can diversify your portfolio and in turn minimize the overall exposure to risks.

2. Inflation hedge 

The decline in the value of the dollar is usually accompanied by a decrease in the purchasing power of the consumers. You can bank on gold to protect against such losses since it is perceived as a store of value.

3. Safe haven from the economic downturns 

Allocating some of your retirement investment funds to gold assets can help minimize the impact of the losses that arise from an economic downturn such as a stock market crash. 

4. The growth of wealth

Investors who believe that gold will grow in value often hold it to increase their long-term wealth. If you look at the prices of gold over the past decade, you will notice that they have climbed quite a bit. 

Why hasn’t my financial advisor recommended gold to me?

There are very few financial institutions that have the capacity to oversee precious-metal-based retirement plans. Most financial advisors are only licensed to recommend publicly-traded securities and have not received sufficient training to advise on physical precious metals. You may come across some financial advisors who recommend gold ETFs or gold mining stocks. These options offer a limited way to gain exposure to the price movements in the gold market.

The main downside to investing in precious metal ETFs and mining stocks is that it is not similar to investing in precious metals. Precious metals are tangible in nature, hence are not susceptible to the factors that lead to the decline in the value of stocks, including:

• Inflation
• Company earnings and performance 
• Corporate fraud 

Investing in gold-based paper assets will, as such, only lead to you losing the protection offered by physical gold. 

>>>How to Transfer IRA to Gold | Easy Steps You Can Follow!

Where can I open a gold IRA today?

There are many gold IRA companies that are available to help you open an account that you use to hold physical gold investments. Most of these companies vary in experience, service, and fees, hence you should take the time to compare what they have to offer before settling on any single company. You can get started by looking at our guide to the most reliable Gold IRA Companies to see if you will find one which has the characteristics and features that will benefit you. 

Frequently Asked Questions on “Can I hold physical Gold in My IRA?”

1. Can I add pre-owned gold coins to my gold IRA?

No! If you have a collection of gold coins that you either purchased or inherited, you cannot simply add them to your Gold IRA. You can only add uncirculated bullion coins to your gold IRA. Alternatively, you can sell your preowned coins, and use that money to fund your account, upon consulting with a gold IRA expert.

2. Must I withdraw the gold upon retiring?

No. You can hold the gold in your IRA after retirement. If you open a traditional gold IRA, you have until your 72nd birthday to hold on to the investments, after which the IRS requires that you start taking required minimum distributions. With a Roth Gold IRA, however, you do not have to withdraw your gold. You can, in fact, leave it as an estate for your children or grandchildren.

3. I already have a 401(k) retirement plan, can I still open a gold IRA? 

Yes. In addition to your employer-sponsored 401(k), you can open and contribute to other IRAs, including a gold IRA. Doing this allows you to diversify your investment portfolio, as you minimize exposure to risks in the market.

4. Is it too late to open a Gold IRA?

No. It is never too late to open a self-directed precious metal IRA. You only need to contact the customer representatives in a Gold IRA company, and they will set up your account for you to start investing in Gold. 

Remember that you can also roll over or transfer some of the retirement funds in your current retirement plan into a gold IRA, so you do not have to worry about the source of funds for your newly-created account.

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SEE OUR TOP-5 GOLD INVESTMENT COMPANIES 2022

Thank you for making it to the end of this post in which we have addressed the question “Can I hold physical Gold in my IRA?”. I hope you now have a definite answer that will help you make a sound investment decision. Drop all the questions you may have in the comments section below, and I will get back to you ASAP!

I wish you well,

Eric, Investor and Team Member at Gold Retired!

In today’s post, we shall learn about how to convert IRA to gold. As a smart investor, you are most likely looking for ways to secure your financial future or shield your investment portfolio from economic unrest. You may have heard about the ways in which gold can help you achieve this, and in today’s article, you will find out about how you can add gold to your portfolio by using the funds in your existing IRA. Let’s dive into it right away:

SEE OUR #1 RECOMMENDED GOLD & SILVER IRA SOLUTIONS

Introduction

If your individual retirement performance has been dismal in the last couple of years and has barely met your expectations, then it is prudent to rethink your investment strategy. Portfolios that do not include precious metals often miss out on the much-needed element of diversification.

You have worked hard and you have imagined what your retirement years will be like, and there is no need to see your vision or dream disappear simply because you did not make a few adjustments. 

Those who have been watching and following the news know how quickly things can go south if one tweet creates economic or political tension. This is why you cannot afford to ignore the concept of diversification. There are many ways to achieve this, but we shall take a look at how top investors are converting a portion of their IRA funds to diversify their investment portfolios. More of that is in the next section.

>>>Retirement Planning (Gold IRA) | What You Need To Know!

How do you convert your IRA to physical gold?

Whether you currently own a traditional IRA, Roth IRA, SIMPLE IRA, or SEP-IRA, your custodian most likely does not allow you to hold alternative assets such as precious metals. You may be granted permission to purchase gold ETFs, mutual funds that have gold assets, or stocks in gold mining companies, but that is simply it- the custodian will always insist on you holding the traditional paper assets, and perhaps even more conservative assets such as bonds. 

If you intend to invest in physical gold through an IRA, you will need to open a special IRA known as a gold IRA with a gold IRA custodian that allows you to hold alternative assets. Check out the steps you should follow below.

>>>What is a Good Investment For Retirement? Our 3 Top Options!

Steps to follow as you convert your IRA to Gold

1. Open a new Self-directed IRA

The very first step in the conversion of your IRA to physical gold is for you to open a self-directed IRA. A self-directed IRA, or SDIRA, is a type of IRA that investors use to hold alternative assets. In most cases, the SDIRAs usually get named after the main asset that the IRA custodian allows their investor to hold.

A gold IRA, for instance, is a self-directed IRA that allows investors to mainly hold gold. The fact that it is called a gold IRA does not imply that you are prohibited from holding other alternative assets through it, though you may have to consult with your custodian about their preferred assets. 

Self-directed IRAs may be quite complex to oversee, hence most custodians prefer to specialize in certain assets. If you want to invest in gold through an IRA today, therefore, you can turn to a reliable, 5-star rated gold IRA custodian that has a track record of performance in the delivery of excellent gold IRA solutions. Upon selecting your preferred custodian, you can proceed to contact their customer support staff or fill out the IRA application forms on their website.

2. Initiate a Transfer

Before you purchase physical gold, you need to fund your newly-created gold IRA. Luckily, this is quite easy after your gold IRA application request has been approved. All you need to do is to complete a transfer request, and then get back to waiting for the custodians to do what they are good at. 

A typical transfer involves you supplying your account number or basic information related to your existing IRA to your gold IRA custodian. Your gold IRA custodian will then take it from there and reach out to your existing IRA custodian to complete the transfer. 

No penalties or taxes are involved in the transference of funds from your existing IRA to a gold IRA. If you also own a defined contribution plan such as a 401(k), you can consider transferring some of your funds to your gold IRA. 

N.B: You are limited to one gold IRA Rollover per year. 

3. Find a reputable precious metal dealer

Most firms that offer gold IRAs allow the purchasing of gold and other precious metals from any reputable precious metal dealers. They may also offer a list of their preferred dealers, but they should not make the decision on your behalf. You have the final say when it comes to your choice of the precious metal dealer from whom your gold will be purchased. 

When comparing the available gold dealers, check out their customer reviews and ratings on consumer trust sites. Only purchase your physical gold from trusted companies that have a wealth of experience that comes from being in business for many years.

>>>What is The Best Gold Coin to Buy For Investment Currently?

4. Choose a Third-party depository 

The IRS prohibits the gold IRA custodian from storing the assets you purchase through the gold IRA held with them. The physical gold should be held by a third-party IRS-approved depository. Most gold IRA custodians and gold IRA companies offer a list of reputable depositories that they know about, but they may let you decide on the depository you wish your assets to be held in. 

If you have the freedom to choose your preferred depository, go with one that is insured by a well-known insurance company, and that is licensed to securely hold precious metals. 

5. Purchase the physical gold 

The final step of the process lies in purchasing the physical gold. This mostly involves you signing the investment direction form, that eventually makes its way to the precious metal dealer of your choice. This form is sent by your gold IRA custodian and the funds required for the purchase process. The precious metals are then sent to the storage depository for storage. 

Frequently asked questions on “How to convert IRA to Gold”

1. How much of my IRA can I put in Gold?

You can put some or all the funds in your existing IRA into your gold IRA. You should make a calculated move since the IRS only allows you to do one roll-over per year. The money you move from your existing IRA to the gold IRA will be used to purchase the gold assets ( gold coins or bars). The custodian will make the purchase on your behalf. 

2. Will I pay taxes when opening the gold IRA?

The IRS does not tax you during the rollover process, but this only holds if you do not break the Gold IRA rollover rules. Those who break the rules are taxed and penalized, and often end up having a rough start to their gold investment journey. 

3. Can I roll over the funds held in my 401 (k) as well?

Yes, you can. The IRS allows investors to transfer or roll over the funds in their IRAs and other retirement plans to a gold IRA. If you, therefore, have a 401(k) account, you can transfer some or all of the funds in it to your gold IRA, to diversify your retirement investment portfolio. Note that with most employer-sponsored retirement plans, you are required to consult with your employer about whether they allow employers to do Gold IRA rollovers.

>>>Is an IRA Better Than a 401(k)? | The 2022 Detailed Guide

4. Am I allowed to hold the gold I purchase in my home safe?

No! Individuals who decide to hold the gold they purchase using their IRAs in their home safes often end up getting penalized by the IRS. There may be an exception if you’re 59 ½ years and above, but those below this age are required to comply and store the gold in an IRS-approved depository. 

SEE OUR #1 RECOMMENDED GOLD & SILVER FIRM

SEE OUR TOP-5 GOLD INVESTMENT COMPANIES 2022

That will be all for today’s post on how to convert an IRA to gold. Did you find it informative? Do you have more questions about how to do a gold IRA rollover? Would you need some help getting started? Let me know by dropping a comment in the section below, and I will get back to you ASAP!

I wish you well,

Eric, Investor and Team Member at Gold Retired. 

In 2021, billionaires saw their share of wealth elevate at the highest rate on record. According to World Inequality Lab’s annual Report, their wealth increased from 1% in 1995 to 3% in 2021. Last year, billionaires amassed more wealth than ever before. Do you ever wonder: where do wealthy people invest their money? How do they make their fortunes grow?

In this article, we will explore the different investment options that are available to high-net-worth individuals. We will also take a look at how the rich get richer and find new opportunities to increase their wealth. So, if you’re curious about where the wealthy put their money, read on!

First thing is first, and just as a house need a stable ground, so does your finances. Now imagine how stable ground a skyskraper would need to not fall down in heavy wind…

Gold

Even though gold does not back the U.S. dollar or any other currency today, its importance to modern society cannot be overemphasized. To validate this point, one only needs to look at the role that gold plays in the global economy. Central banks and other financial organizations including the International Monetary Fund around the world hold large reserves of gold as a way to ensure the stability of their respective economies. institutional investors also see gold as a safe-haven asset that they can invest in during times of economic and political turmoil. These organizations are responsible for about one-fifth of the annual global gold demand.

“People view gold as emotional, but when they demythologize it, when they look at it for what it is and the opportunity it represents, they’re going to say, ‘We really should own some of that.’ The question will then change to ‘Where do we get the gold?’”

–Thomas Kaplan (over $2 billion invested in gold)

“I view gold as a currency, not a commodity. It’s importance as a currency will continue to increase as the major central banks around the world continue to print money.”

–John Paulson (over $4.6 billion invested in gold)

Gold Preserves wealth

Another reason wealthy people invest in gold is the fact that it is an excellent way to preserve wealth. Unlike paper money, gold does not get affected by inflation or other economic factors. For instance, in the 1970s, an ounce of gold equaled $35. If that time you had the chance to keep your gold or simply keep the $35, they would buy the same thing. However, today if you have an ounce of gold, it is worth around $2000. This means that gold preserved purchasing power much better than the dollar did.

A Hedge against the dollar

Wealthy people understand that the U.S. dollar is in a long-term decline. They also know that other fiat currencies are in even worse shape. This is why many wealthy people have turned to invest in gold and silver. Gold and silver are true original money, they have been used as a medium of exchange and store of value for thousands of years. And, unlike fiat currencies, they can not be created out of thin air by central banks. This makes them a very attractive investment for people who are looking to protect their wealth from currency depreciation.

Gold diversifying Investments

Wealthy people tend to invest a lot of their money in gold. This is because gold is a very stable investment, and it tends to go up in value over time. This means that if the stock market crashes, or if inflation starts to rise, gold will still be worth a lot of money. This makes it a very safe investment for wealthy people.

Gold as a Safe Haven

Gold is often seen as a safe-haven asset, meaning that it tends to maintain its value or even appreciate during times of economic turmoil. This is because investors view gold as a store of value that is not subject to the same type of volatility as stocks or other investments. For this reason, many wealthy individuals choose to invest a portion of their assets in gold.

When there is political tension like in the case of Russia Ukraine war, people start to worry about inflation and the safety of their money. This is when the demand for gold goes up, and the price of gold increases as a result of this. Wealthy, people invest their money where they can protect it or use it to escape the turmoil.

**See our Top-3 List of Gold & silver firms (+ buying guide)

Silver

This is also a precious metal like gold and is often used as an investment. Silver is abundant enough that it’s not as rare as gold, but still, its value is very high. It has amazing physical properties that make it very useful in industry. It’s also used in jewelry and coins. This makes it a good investment for those who want to invest in precious metals. Some of the wealthiest individuals such as Warren Buffet have a large portion of their wealth invested in silver. Like gold, the price of silver can be volatile, but it’s a good long-term investment.

Real Estate

Real estate is one of the most common investments for wealthy individuals. Why? For one, it’s a physical asset that can appreciate in value over time. And two, it provides a steady stream of income in the form of rent payments.

But investing in real estate isn’t as simple as buying a property and collecting rent checks. There’s a lot of work that goes into being a successful landlord, from screening tenants to maintaining the property. And of course, there’s always the risk that the property could lose value.

Still, for many wealthy investors, real estate is a core part of their portfolio. Many billionaires including Warren Buffett, Bill Gates, and Donald Trump have made a fortune investing in property. Larry Ellison has invested in real estate with a portfolio of over $1 billion.

Cryptocurrency

Cryptocurrency is now the trend when it comes to investing, and a lot of wealthy individuals are now putting their money into this. In 2017, the total market capitalization for cryptocurrency was around $600 billion and has grown even bigger.

“If you´re a true adventurer and you really want to throw the Hail Mary. you might want to take 10 percent and put it in Bitcoin and Ethereum”

– Mark Cuban (ABC´s Shark Tank investor, Owner of Dallas Mavericks)

“Three eras of currency: Commodity based, e.g. Gold. Politically based, e.g. Dollar. Math based, e.g. Bitcoin”

-Chris Dixon (co-founder of Hutch)

There are a lot of reasons why wealthy people are investing in cryptocurrency. For one, it’s a very volatile market, which means that there’s a potential for high returns. secondly, it’s a very new market, which means that there’s still a lot of room for growth. Lastly, it’s a very decentralized market, which makes it less susceptible to manipulation by governments or financial institutions. For instance Bitcoin, the most well-known cryptocurrency is not controlled by any government or financial institution. It has gained more than 1700% since January 2017. This makes it one of the best investments in recent years.

**How to invest in Bitcoin from your retirement account

Global Equities and Stock Funds

According to a study by Capgemini, nearly 60% of high net worth individuals invest in stocks and stock mutual funds. This should come as no surprise, as stocks have historically been one of the best-performing asset classes. However, keep in mind that billionaires are a different class from us. They can afford to take more risks. A 100% loss of investment will not threaten their financial security or their lifestyle. For the majority of us, it would be devastating.

**Get the best stock advice available from this resource

Where do rick people invest their money? – Conclusion

Generally, gold comes as the perfect investment for those who want to keep their money safe. It is a long-term investment, and it has proved its worth over time. Wealthy people tend to be diverse and for this reason, they also invest in other assets such as real estate, stocks, and bonds. This allows them to have a well-rounded portfolio that can offer stability and growth. Never put all eggs in the same basket, right?

So, in short: Where do rich people invest their money? They spread it out into different baskets!

Let´s finnish this article off with another quote from a super wealthy and true High-Net-Worth individual:

“With the same things that were done in 2000 and 2001, when it was temporarily solved with big expenditures and very aggressive monetary and fiscal policy, aside from lowering taxes, we should be directing more money to the real economy, not to the financial economy. The volatility of the markets is so great that more is won or lost in a single day than in five years of accumulated interest. And that’s not a good thing.”

-Carlos Slim (most likely the world’s richest man, net worth $55 billion)

I hope you found this short article to be helpful? Please share your own experience and opinions in the comment section below as it can help others! Also, if you got any questions about this I would be more than happy to answer them below!

I wish you the best and lots of success!

Michael, founder of Gold Retired