What is Cryptocurrency and Why Gold is a Better Investment Than Cryptocurrency

Protect the money you worked so hard to save and make grow.

What’s the big deal about cryptocurrencies? Aren’t they for young and trendy investors with nothing significant to lose? Why do retirees consider them worthwhile at all considering how little value they’ve retained throughout the years? How many scams have seniors fallen for and lost big money as a result of all the hype?

Before making any type of investment, it’s best to know the facts. That way, you can avoid the fallout that occurs with poor investing. You’ll protect your assets and maintain the type of lifestyle you hope to enjoy once retired and not part of the workforce anymore. This brief guide highlights the advantages of investing in gold and the challenges that come with cryptocurrency so you know what you’re getting into the next time you want to diversify your portfolio.

The Advantages of Gold

What’s there not to love about gold? It’s among the top precious metals in the world! It’s been used as currency for centuries. People spent their entire lives mining for small amounts of it as a way of providing for their families. Gold’s backstory is long, impressive, and worth getting to know especially if you’re planning on investing in a Gold IRA or adding the precious metal to your diversified retirement portfolio.

Websites selling gold coins are not created equal. In fact, some give you more bang for your proverbial buck. For example, Red Rock Secured offers educational resources so you can be a more informed investor. We provide valuable guides, blogs, and tips to help you secure the retirement lifestyle you’ve always desired. We’re readily available to assist you with any questions, concerns or challenges you might have, too.

What is Cryptocurrency and The Challenges of Cryptocurrencies

Although cryptocurrencies have gained ground since they were first introduced in the marketplace, they have yet to be as widely known or revered as precious metals such as gold. Even though the Bitcoin has taken on a tangible form by masquerading as something valuable, it’s not made of gold, silver or platinum. The monetary value of gold coins is in the material itself not the value it’s meant to represent.

Cryptocurrency buyers are more susceptible to being scammed. There are well-known Ponzi schemes developing every day to swindle you out of your hard-earned money. There are also groups created daily to pass off lower value cryptocurrencies to unsuspecting buyers. Even if you were to buy through a well-known investment site, the only real liability they have is in including a disclaimer stating that you could lose your money by investing in digital currency such as the Bitcoin.

Make Better Investment Decisions with Red Rock Secured

Now you know why gold is a better investment than cryptocurrencies. Rather than waste your hard-earned savings on something that may not pay off, go with the obvious choice by buying precious metals from a company that you trust such as Red Rock Secured. Not only do you have a liquid asset that retains its value when other types of investments lose purchasing power, you’re also able to benefit from significant increases in value without being penalized until you’re ready to withdraw from your Gold IRA and pay taxes then.

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Protect your financial investments from loss by investing with Red Rock Secured.

The economy plays an important role in the investment process. When it tanks, you see much of the money you saved and invested go by the wayside. Loss is a risk that you take when choosing to invest in a volatile market. By better understanding how the nation’s economy affects your personal savings and investments, you’re at a distinct advantage. 

What You Need to Watch for

Here are five signs that the economy isn’t doing as well as you thought it was:

1. Unemployment rates continue to push lower. It’s nearly impossible to beat a 4% unemployment rate. Even if people choose to leave a job for better career opportunities, it’s harder for smaller employers to fill the positions that are open. When unemployment rates are low, it’s usually because the economy thrives. Inflation increases when employers are forced to raise wages to retain employees and attract new ones.
2. People are buying fewer houses. The housing market takes a steep decline. You notice that fewer homes are being sold in your community. If you’re considering selling your house, you’ve been advised not to unless you absolutely have to. The California housing market is a good indicator of how well the economy is fairing because property prices are among the highest in the country.
3. Inflation is on the rise. The price of goods and services continue to increase despite wages remaining the same. If you notice that your hard-earned dollars are working doubly hard to pay for the same goods, it’s due to inflation.
4. Credit card debt and late payments are becoming the norm. Because the cost of living is on the up, people aren’t able to pay their bills like they once were. Credit card companies report more debt and late payments. This is another indicator that the economy is struggling.
5. Economic expansion cycles are contracting. This may not be something of concern for you unless you’ve got money invested in the stock market. It is important to pay close attention to economic expansion cycles. It helps you see the bigger picture and prepare for changes in the economy.

These five signs allow you to better prepare for a bad economy, thus allowing you to make better decisions in regards to your savings and investments. You will be able to weather financial storms with greater ease because you’ll have calculated the risks and made the necessary preparations to safeguard your retirement finances.

Red Rock Secured’s Role in Your Retirement Savings

Having a diversified retirement portfolio sets you up for success. It prevents you from losing large sums of money through one type of investment. If you’ve been considering a Gold IRA, now is the time to transfer your retirement account. Red Rock Secured makes investing in precious metals easy with our Home Delivery services.

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You’ve worked hard your whole life, now let your money work hard for you.

With the date of your retirement closing in, it becomes ever more important to save and invest while you still have time. If you find that you haven’t yet met your financial goals, there are things you can do to become better prepared for retirement. In fact, the more steps you take now in the present, the fewer you’ll be required to do later on. You’ll be able to retire on schedule without postponement.

Here are five ways to be better prepared for retirement in 2019:

1. Expect the best but plan for the worst. It only takes one catastrophic health diagnosis to wipe out all of your savings. That’s why you can never be too prepared for the future. Stocking away as much money as you possibly can for retirement is advisable at any age. The younger you do this, the better off you’ll be in the long run because your investments have time to mature.
2. Cut back on unnecessary expenses now. If you don’t need it, don’t buy it. Save the money instead. The better acquainted you get with wants and needs now, the easier it will be to live on a budget once you do retire. Your investments will need to see you through the long days of retirement. Do yourself a favor today by examining your monthly budget closer and seeing which expenses you can lower and eliminate. They won’t be an issue at a later date if you take the time and actions needed to get rid of them now.
3. Find a better financial advisor to work with. Among the most important relationships you’ll have as you age is the one you have with your financial advisor. If you don’t have one or have been working with someone who hasn’t held up their end of the relationship, it’s time to move on. You can easily find someone who is better qualified to handle your retirement funds and investments by doing some research. You may even ask your friends or work colleagues for a referral.
4. Learn what it takes to truly diversify your portfolio. Having a variety of options to choose from is a sound decision. You won’t be sinking all of your savings into one type of investment, and therefore, be better capable of weathering financial storms at a later date. If the economy tanks, you won’t go belly-up in the process. You’ll be sitting comfortably and enjoying the lifestyle you planned for yourself once you retired.
5. Request more information about Gold IRAs from Red Rock Secured. Learn all you can about investing in precious metals. As an informed investor, you make decisions based on what you know and not what you feel. You lead with your brain and not with your heart. You make decisions that impact you and your family positively.

Be better prepared for retirement. Let Red Rock Secured show you how. You’ll be able to get the most out of your savings by investing in precious metals which retain their value in a volatile market. Diversify your portfolio in 2019 with a self-directed Gold IRA purchased with pre-tax or post-tax dollars.

REQUEST YOUR FREE GOLD IRA GUIDE by filling out the form above.