This morning, I heard some coworkers talking about the Olympics. I was too busy to include myself in their water cooler conversation, so I decided to spare them my own tales of personal Olympic triumph and glory, as I have no real tales of my own to tell. However, I do enjoy seeing their faces while I spin an occasional yarn or two, for everyone’s bemusement. Anyway, I was soon thinking about a particularly grueling Olympic event, and how it applies to the precious metal market. Some things hurt just to watch, and the steeplechase definitely qualifies as one of those things. Imagine the pain of running for miles, at world-class speed, while every twenty paces or so, having to negotiate a high-hurdle, fence, or water hazard. It’s almost too painful to watch, let alone actually do, and although I have no desire to emulate these tremendous athletes, I certainly do admire them.
Baby boomers have been running a steeplechase towards retirement for over thirty years, and many thought they had cleared the last obstacle, and were cruising to the finish line. It hardly seems fair, but for baby boomers with decimated portfolios and/or retirement accounts, there is one final hurdle to clear. In order to protect your remaining investment and/or retirement dollars, it may be worth considering abandoning your investments in stocks and bonds, and converting them into the precious metal market. Large volume precious metal dealers like the Certified Gold Exchange are experienced and helpful with IRA, 401K, and 403B conversions, and can make your transition into the precious metal market a comfortable and potentially profitable one.