The collapse of Silicon Valley Bank last week has many Americans [rightfully] worried about the safety of their retirement savings.
This week, Red Rock Secured CEO Sean Kelly spoke with Good Morning Washington to talk about the SVB collapse and the impacts it could have on American retirement savings accounts, the economy, and the U.S. dollar.
“If a bank failure leads to a broader financial crisis or a loss of confidence in the banking system, then investors may begin to sell off their assets, including the U.S. dollar,” Kelly said when asked if the SVB collapse could impact the U.S. dollar. “That could lead to a decrease in demand for the dollar, which in turn would cause its value to decline.”
And history shows that when the dollar goes down, the price of gold rises.
“Precious metals, particularly gold and silver, have been a popular hedge against inflation and uncertainty,” Kelly said. “They can’t be printed out of thin air like paper money. Historically, as 401(k) accounts, stocks, and cryptos plummet, gold rises. The weaker the dollar gets, the more it’s worth. Precious metals are safe-haven assets in times of economic crisis, and Morgan Stanley just came out predicting prices topping $2,200 this year alone in 2023.”
While inflation is an ongoing battle, Kelly warns that another major concern for investors is financial instability.
“Last Tuesday, this bank [SVB] was fine,” Kelly said. “Friday morning, it’s gone. This all happened within 48 hours. We have interest rates at historically high levels. We can no longer afford our home mortgages. We can no longer afford car payments…”
But that’s where Red Rock Secured is available to help…
Opening a Self-Directed IRA With Red Rock Secured
If you’re worried about your financial future, now’s the time to take action.
At Red Rock Secured, we are committed to helping hard-working Americans protect their retirement savings by converting their conventional IRA into a Self-Directed IRA that can legally hold precious metals.
This type of IRA could help protect your hard-earned wealth from inflation and stock market turbulence, such as the SVB collapse.
Red Rock Secured offers several storage options: Depsotiry IRA, Home Delivery Gold IRA, and cash transactions.
With our Depsotiry IRA, we’ll help you convert a percentage of your savings into a Self-Directed IRA that can legally hold precious metals tax and penalty-free (IRS CODE 408(M)(3)). Your Depository IRA is administered by industry-leading custodians who oversee all of your asset purchases and liquidations. Red Rock Secured will ensure that your metals are being stored in a top-tier depository with state-of-the-art security. You’ll have the option to select your preferred location and your metals will be 100% insured by Lloyd’s of London for up to $1 billion.
With our Home Delivery Gold IRA, we’ll have your metals shipped directly to your door so you can store them at your discretion. You can learn more about that option here.
Our team of gold and silver specialists is ready to help explain and walk you through either process. Just fill out the form on the top right of this page to get started.
Red Rock Secured Disclaimer
The opinions, beliefs, and viewpoints expressed in this article do not necessarily reflect the opinions, beliefs, and viewpoints of Red Rock Secured LLC or the official policies of Red Rock Secured LLC. Red Rock Secured LLC is not a financial advisor, is not licensed to provide investment or tax advice, and neither provides investment nor financial advice. Red Rock is a product specialist that can help evaluate your precious metals purchase options.