Is It Worth It to Get a Gold IRA?

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An excellent way to balance your portfolio is to get a gold IRA. When the stock market is not performing well, gold prices usually increase. It makes gold a safe way to help protect your other investments from big losses.

Before investing in gold or a gold IRA, here are some things you need to consider.

Contribution Limits

The contribution limits for a gold IRA are the same as any IRA. For 2023, the limits are $6,500—unless you are 50 or older, then you can contribute an extra $1,000—or $7,500. In 2024, you can contribute $7,000 or $8,000 if you are 50 or older.