Hello James,
Given the abundant information about the state of the economy, what would you recommend we, (the consumer and fellow American) do when making a decision about Individual Retirement Accounts (IRAs) come April 15th? I am concerned about putting money away and into “paper currency” when maybe it would be better to just pay down debt. What would you advise to someone in my situation? I am not necessarily looking for information about the tax benefits, simply your view about what would be a wise move. -The Wanderer
JWR Replies: This is a bit repetitious to my previous recommendation, but I suppose it bears repeating: I recommend rolling over your existing IRA and/or 401(k) into a gold deposit IRA, through Swiss America [1]. I did so six years ago, and I’m glad that I did, since gold has nearly doubled since then. The IRAs is in the form of U.S. Mint Gold Eagle bullion coins, held in vault storage by American Church Trust, in Texas. In a perfect world, we would be allowed to hold the coins in our personal possession and yet still have them qualify as an IRA–but sadly we live in world managed by bureaucrats and bean counters. The next best thing is a gold deposit IRA, through Swiss America [1].