The Gold IRAs I’ve talked about on this site and the ads you see here for them have only been available to USA residents (the gold investment plan that gives a yield of 12%-26% per annum is available worldwide).
Now, however, Canadians have access to the same free gold investment kit, Gold RRSPs (equivalent to US IRAs) and RRSP Rollovers that American citizens have access to.
While gold and silver have seen something of a price slump this summer, it still makes sound sense to have some of your savings in precious metals. The value of the US dollar has been falling recently and, while the Canadian dollar is a separate currency, it too is a fiat currency, prone to all the problems that can beset any paper currency.
Over time, paper/fiat currencies get devalued. That is, the purchasing power of a set amount amount of currency is reduced over time. Gold and silver retain their purchasing power over time but are of course still prone to a certain amount of volatility, as does anything when compared to something else.
To give an example, a good suit cost about $35 in the 1930s. That was the price of an ounce of gold at the time. Today, $35 buys dinner for two or a few cups of coffee. That’s how much purchasing power the US Dollar has lost in 80 years. Also today, you could still buy a very good suit for 1 ounce of gold. So gold has retained its purchasing power over the same amount of time.
Where retirement savings are concerned, you don’t want your nest egg to be losing value and purchasing power over the years. Many pension schemes have gone bust since the financial crash and of those that have survived, they’re paying their members less than expected.
So it makes sense to have at least some of your savings in precious metals.
For US Citizens
For Canadian Citizens
Claim a free, no obligation, Gold Investment Kit here
Protect your Registered Retirement Savings Plan (RRSP) with physical gold & silver here
Rollover your RRSP into recession and inflation proof gold and silver here
For Dubai Citizens
If you happen to be a citizen of Dubai (known as the City of Gold), you can invest in gold with the same company here.