If you remember, last time I was in the process of setting up my gold IRA with a company called Regal Assets. Well, today I’m proud to announce that the process is now completed. It took me long enough and countless hours of research, but it is done.
How much did I invest?
Truth be told, my investment is quite substantial. I invested close to 150 thousand dollars into gold with Regal Assets. I’ve been told that that is far above the average investment amount which puts me in the top 1% of precious metals investors.
What I bought is mostly bullion. Bars made up the bulk of my order and coins made up the rest. All gold, no silver or other precious metals. I chose this distribution based on what the guys over at Regal Assets told me to do. I trusted them, so I took their advice.
I didn’t store the gold myself
This is also something that was recommended to me by my trusted “dude on the inside”. I mean, it’s not like my house is built like a bank so I opted instead to store the gold at the main depository that Regal deals with. On top of that, I think that the IRS doesn’t allow people to store precious metals that are part of a gold IRA themselves. Something about insurance probably, but it’s probably for the best. I mean how hard would it be to break into somebody’s house and steal some gold when compared to breaking into a Nationally accredited depository‘s vault? Pretty easy versus pretty damn near impossible.
I could have had better timing
One thing that concerned me a bit is that the price of gold when my transaction went down was kind of high. I could have waited it out and tried to buy it when the price per ounce dropped a bit more so that I would have ended up with more for the money, but it’s not a huge difference. And considering that the price of gold just has to stay high in relation to the value of the US dollar, I’m still in a pretty good position.
So now that that’s done, I can move onto something else. That’s good because I was getting pretty tired of all this process. It’s pretty tiring over all and I’m glad it’s over. Now let’s just hope it pays off in the long run and gets me some stability when I get old. ∞