MARKET WATCH/Mark DeCambre

Gold prices struggle for purchase higher after worst weekly in more than 2yrs

November 11, 2019

“Gold futures traded little-changed Monday as the precious commodity sought to gain traction higher after the sharpest weekly skid in percentage terms since 2017 for silver and gold.  December gold on Comex was 50 cents, or less than 0.1%, higher at $1,463.40 an ounce, after the yellow metal marked its biggest weekly slide, off 3.2%, since the week ended May 5, 2017, when the most-active contract fell 3.26%.

December silver meanwhile, shed 4 cents, or 0.2%, at $16,775 an ounce, after it booked a 6.8% decline for the week, the sharpest such fall since the week ended July 7, 2017. Commodity experts say precious metals may be in a vulnerable spot after recent record gains in the Dow Jones Industrial Average and the S&P 500 index which imply that demand for assets considered havens may be waning in place of growing appetite for stocks.  ‘While $1,460 is providing some temporary support, this remains a very vulnerable level with $1,440-1,450 below here also interesting,’ wrote Craig Erlam, senior market analyst at brokerage Oanda.”

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BBC/China Desk

Hong Kong protests: Two people in critical condition after day of chaos

November 11, 2019

China Desk“Two people are in critical condition after another day of violent demonstrations in Hong Kong. A protester was injured on Monday morning when he was shot at close range by a police officer.

He was the third person shot by police since the protests began 24 weeks ago. Later on Monday a pro-Beijing supporter was doused in flammable liquid and set alight after arguing with protesters, who are demanding greater democracy and police accountability in Hong Kong. The territory’s Chief Executive Carrie Lam, speaking to reporters on Monday evening, warned protesters they would not succeed in getting their demands.

There were clashes across Hong Kong on Monday between protesters and police, who fired rubber bullets and tear gas. At one point, tear gas was fired in the central business district – a rare occurrence during working hours on a weekday. Monday’s violence followed a weekend of vigils and protests after a 22-year-old student protester died on Friday. Alex Chow had been in hospital since he fell from the ledge of a car park during a police operation a week ago. The protests started in June against a now-withdrawn plan to allow extradition to mainland China.”

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CNN BUSINESS/Julia Horowitz

Two of the world’s biggest economies are at risk of recession

November 10, 2019

Recession Risk“Investors have recently put fears about the pace of global growth aside, opting for optimism on a ‘phase one’ US-China trade deal. But muted economic data expected out of Europe this week could change the mood. Germany may post data Thursday indicating that it’s in recession. Economists surveyed by Reuters believe the world’s fourth largest economy shrank 0.1% between July and September — marking two straight quarters of negative growth. It’s possible that Germany — which has been hit by the trade war, as well as falling global demand for autos — just dodged a bullet.

Recession or not, the reality is that Germany’s economy, the largest in Europe, looks very weak. A reminder of that could give investors a jolt. ‘The fact remains that the German economy has been in de facto stagnation for more than a year, Brzeski said.  This is clearly nothing to become too cheerful about.  Also, on the calendar is Fed Chair Jerome Powell’s testimony before Congress on the US economy on Wednesday and Thursday. Expect Powell to get grilled on where the Fed goes after three straight ‘insurance’ cuts to interest rates. He’s also likely to face questions on weak manufacturing and business investment data … The United Kingdom will report GDP data on Monday. The country’s economy shrank for the first time since 2012 in the second quarter as global growth and Brexit fears loomed large — but economists think the U.K. will narrowly recession.”

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BARRON’S/John Coumarianos

401(k)s Aren’t Helping Americans Save Enough for Retirement.

November 9, 2019

401k savings“The rise of 401(k) plans over the past 40 years as a pension replacement hasn’t helped Americans save enough for retirement, thanks primarily to the relative immaturity of the system and a lack of access or participation for many workers. In a new research paper from the Boston College Center for Retirement Research … argues that there are four reasons for 401(k)s’ shortcomings—the system’s youth (the plan has been around only since the early 1980s), the lack of universal coverage, so-called leakage where participants withdraw funds early, and fees.

Most workers have 401(k) balances at retirement that are well below their potential. For example, a 25-year-old median earner in 1981, if he/she contributed regularly, would have accumulated about $364,000 by age 60. But in reality, the typical 60-year-old with a 401(k) in 2016 had less than $100,000 Many employers still don’t make plans available or restrict participation. Further, some employees simply don’t participate. Plan participants have a number of ways of accessing savings before retirement. They have the ability to cash out when they change jobs. Or they can take hardship withdrawals. The 10% penalty imposed on withdrawals before age 59½ hasn’t prevented considerable leakage, either. Vanguard Group data for 2013 shows an annual leakage rate of 1.2% per year, nearly half of which is attributed to cash-outs during a job change.”

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MARKET WATCH/Shawn Langlois

The biggest risk facing the stock market in the coming year isn’t trade jitters or the election, Deutsche Bank warns

November 10, 2019

risks to markets in 2020“There’s plenty for investors to get all stressed out about in the coming year, and Deutsche Bank chief economist Torsten Slok’s latest list of the 20 biggest risks will do little to alleviate concerns. As you can see, the potential for more trade fallout and fears over slowing growth still rank high on Slok’s list, but inequality is in the top spot. ‘They are all important at different horizons,’ Slok told MarketWatch on Sunday, ‘but a continued rise in inequality and associated political response is something investors can no longer ignore.’

Democratic presidential candidates certainly aren’t ignoring it. Increased taxes on the rich, is a critical part of the campaigns of both Sens. Elizabeth Warren and Bernie Sanders ahead of the election. Big-name investors have already made it clear what a President Warren could mean for markets. Billionaires Paul Tudor Jones, Leon Cooperman and Steve Cohen have all talked about a nasty correction that could follow her victory.”

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THE WALL STREET JOURNAL/Anna Maria Andriotis and Ben Eisen

More Borrowers Are Going Underwater on Car Loans

November 9, 2019

Car Loans“Consumers, salespeople and lenders are treating cars a lot like houses during the last financial crisis: by piling on debt to such a degree that it often exceeds the car’s value. This phenomenon—referred to as negative equity, or being underwater—can leave car owners trapped. Some 33% of people who traded in cars to buy new ones in the first nine months of 2019 had negative equity, compared with 28% five years ago and 19% a decade ago, according to Edmunds. Those borrowers owed about $5,000 on average after they traded in their cars, before taking on new loans. Five years ago the average was about $4,000.

Rising car prices have exacerbated an affordability gap that is increasingly getting filled with auto debt. Easy lending standards are perpetuating the cycle, with lenders routinely making car loans with low or no down payments that can last seven years or longer. Borrowers are responsible for paying their remaining debt even after they get rid of the vehicle tied to it. When subsequently buying another car, they can roll this old debt into a new loan. The lender that originates the new loan typically pays off the old lender, and the consumer then owes the balance from both cars to the new lender. The transactions are often encouraged by dealerships, which now make more money on arranging financing than on selling cars.”

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60 Years Experience

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GOLD IRA GUIDE

Invest in physical gold IRA with Red Rock Secured.

There are problems with your standard IRA or 401K. The Average American pays exorbitant fees, has too few options, and puts up with customer service that treats them like a nuisance rather than a valued friend. If you’re quickly approaching retirement age and want to diversify your portfolio beyond the options that are currently being offered to you, look no further than Red Rock Secured. We provide personalized customer service and a wide range of options for you to choose from that help round out your retirement investments.

From physical gold IRA and silver to real estate options and pre-IPO market opportunities, we’re big on choices. If you want to secure a bright future for yourself and your spouse before retiring, explore the different investments offered by us. That way, you’re able to grow your retirement quickly with lower fees and better overall service .

Benefits of a Diversified physical gold IRA

There are many ways to diversify your portfolio. In fact, not putting all of your nest eggs into one proverbial basket is highly recommended. Your financial advisor will explain the benefits of a physical gold IRA with the emphasis being There are many ways to diversify your portfolio on making as much money as you possibly can in the shortest amount of time with the fewest fees and penalties.

Here are some of the other things you get to look forward to with a diversified portfolio:

  • Lowered Risk. As with any investment, the longer you hold onto it, the greater the risk. This is certainly the case with stocks which are subjected to current marketplace values. When you diversify your portfolio with multiple types of investments, you lower your risk of losing money because your investments are varied. You’re not relying on one form of investment to make you money. You’ve got enough diversity to balance risk and reward.
  • Higher Returns. Diversification helps long-term. It does not necessarily provide higher returns short-term. The longer the investments have to mature, the more money that is made off of them. That’s why it’s important to invest in physical gold IRA which retain their value well and often increase in value significantly.
  • Greater Balance. Achieve more of your financial goals by protecting your money from loss by investing in physical gold IRA and increasing the potential of its growth. Rather than settle for one or the other, you can have both with a diversified portfolio. There is some risk involved but not as much as you would experience if you put all your money into one type of investment. You’ve created the ideal balance between investments that could potentially cost you money by holding onto them too long and investments that pay off handsomely after years of earning interest or increasing in value.

A diversified portfolio gives you more security. It accounts for your long-term needs overall. It is personalized and easy to understand its value.

Red Rock Secured Wants to Diversify Your Portfolio to Meet Your Unique Needs 

See for yourself the value of a physical gold IRA. Let Red Rock Secured change the way you plan for retirement. If you haven’t considered investing in physical gold IRA and silver in the past, now is the time to research your options. Contact us for more information today and get more mileage out of the money you’ve earned, saved, and invested for retirement purposes.

 

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60 Years Experience

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GOLD IRA GUIDE

Be prepared for the latter stage of your life and the financial obligations that come with it.

You can never be too prepared for retirement. After all, you never know what life has in store for you after you’ve retired from working. Protecting your investments is among the highest priorities that you have as you start to amass savings. Knowing that you’ll one day be able to live comfortably off your investments is a relief. Let Red Rock Secured help you get the most from your savings.

Here are five ways to be better prepared for retirement:

  1. Take advantage of your employer’s 401K program from as early on as you can. The closer you are to retirement age, the more likely it is that you’ve already taken this step. Being able to realistically plan for your needs and come up with a savings plan that works for you at a young age is ideal. If you didn’t have a chance to put money up in your 20s and 30s, make sure to max out 401K accounts when you’re able to start contributing to them. Any money that you put away is better than no savings at all.
  2. Open your own IRA or Roth IRA account. Make regular deposits into it. That way, there is no question that you’ll have a good amount of money saved once you’ve reached retirement age. Most financial institutions offer a retirement savings account. Find one that meets your needs and schedule a time to meet with a personal banker who can answer any questions you might have.
  3. Work with a financial advisor who can help you make the most of the money that you’ve saved. A money master will help you grow your savings into life-changing Do your homework and research the different advisors in your area that are top-notch. Choose one to meet with and interview them by asking a series of questions pertaining to their skills and knowledge base. That way, you know you’ve made the right decision.
  4. Consider the value of gold, silver, and other precious metals. Request a free Gold & Silver Retirement Kit from us. That way, you’re able to see how valuable precious metals are. You can also keep track of the current market value of gold and silver by visiting our website often and paying close attention to the ticker of prices at the top of our page.
  5. Learn to live on less so that you’re able to invest as much as you possibly can. Making changes in the way you live today helps you better plan for the future. Do your part to cut back on unnecessary expenses so you’re able to sock away more money into your retirement funds and precious metal investments.

Prepare for retirement better with Red Rock Secured. Investing your retirement funds in precious metals such as gold and silver is wise as it allows you to plan your future by diversifying your investment portfolio. Best of all, there are no tax penalties for making the decision to convert your 401K into gold or silver coins. There are no startup fees to do so, either, and you can arrange for home delivery of your precious metals if you elect to go with that option with us.

60 Years Experience

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