The collapse of Silicon Valley Bank (SVB) and talk of other bank failures have dominated the news cycle for days. The collapse and closure of SVB sent shockwaves through the financial industry, especially for investors, small business owners, and venture capitalists.
Despite the “nothing to see here” attitude of the Biden administration, you can’t underestimate the impact of SVB’s collapse on the economy and, more importantly, how it affects your retirement savings.
This single failure could start a domino effect of economic collapses that could impact you for years to come.
Though watching a bank collapse is frightening, the response from the federal government is even more terrifying.
President Joe Biden and Treasury Secretary Janet Yellen are giving a full green light for the government to bail out SVB in the billions of dollars, basically giving their blessing to every other bank that it’s OK to spend your savings and retirement investments for their own profit, all without fears of failure or reprisal.
The government is simply going to print more money to temporarily cover the shortfall caused by SVB and any other coming bank collapse(s). Some consider this to be “socializing the losses with the Fed balance sheet.”
This immediately devalues the buying power of the dollar and reduces the value of your retirement savings.
Why Invest in Gold
Yet, precious metals can be a viable way to help protect and safeguard your wealth. Many believe gold and silver can be safe-haven assets in times of economic uncertainty and high inflation.
All of these banking collapses should be the sign you need to start diversifying your investments into physical precious metals, like gold. Here’s why:
- Gold is a tangible asset, meaning it has physical value and can’t be easily manipulated like stocks or currencies.
- Gold is widely recognized and accepted, making it easy to liquidate if needed.
- Gold has a low correlation with other asset classes, meaning it can potentially provide diversification to help shield your existing investment portfolio from currency volatility.
- Gold has a long history of holding its value, making it a safe choice for preserving wealth over the long term.
Opening a Self-Directed IRA With Red Rock Secured
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.
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.