Why You Should Be Wary Of Purchasing A Gold IRA

Dan Celia GoldImage source: YouTube Video Screenshot

Dan Celia shares his thoughts on purchasing gold as an investment and advices not to fall prey to the gold IRA’s.

Purchasing Gold As An Investment: I Just Don’t Think Gold is Really Worth It

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Transcript

What are your thoughts on purchasing gold as an investment? Thank you.

Okay, sounds good. Thank you, Mike.

Thank you.

Yep, you're welcome. So here, I'm not a big fan Mike of purchasing gold as an investment. And I'll tell you, I'll give you some reasons. I don't mind owning somebody, if you want to have a small percentage into precious metals as a speculative commodity. position. I don't really understand why people own a great deal of gold. And I can tell you, over and over hundreds of people that I've heard from over the years, that own gold IRAs. They say, its the sorriest, it's the biggest mistake they've ever made. Additionally, they are now they're paying for storage.

Do not purchase a gold IRA

They can't sell it, they need money. They're trying to sell it, they have to sell it, they can't take it. You know, they have to sell it, it cost a fee to sell it. So they've got to pay a sales charge, and they've got to get it. Doesn't produce any income. It doesn't pay any dividends.

It has tied times with purchasing gold where it's been 40 years between its last highs. I don't know why anybody would want an investment that would go that long. It's not a tradable commodity. And I have seen sales charges on the way you know when you're selling out that they don't tell you about as high as 40% and I've had people call me and say it's as high as 60%. So look, I and they say well, you know what's outperform This is what I can name a hundred stocks off the top of my head, forget long term in the last five years that have well outperform gold and with a click of the mouse, you can sell it.

Don't Fall Prey To The Gold IRA's

Transcript

Don't get too excited because in five or six weeks you'll be talking about will gold go to 1300 again, it could pull back but right now itself about a half a 1% this morning. Silver, not quite the same, same kind of movement that's hanging in and around 1491. Silver's been trading pretty much in a fairly tight consistent range, little unusual for silver but that's the way it's been going for a whole year actually. So gold up, so all the gold guys are having a field day man, they are on the phones pitching purchasing gold. They're selling you gold.

Gold IRA explained

They're saying this is it. This is the big one. This is the $8,000 an ounce here. It's coming. This is the this is the one that everybody's been waiting for. So they're going to use this. You'll notice this weekend trust me on this. I'm right every time I call it right every time. All the gold commercials you see now all the commercials you've been seeing. You saw it, last week's switchover from silver to gold, that's what it's going to stay.

It's going to be all about purchasing gold. They're going to ramp up it's going to become a little bit more aggressive and you are going to be chafing at the bit to dial that phone and put all your money in gold. Please don't do that. Please don't do the gold IRA. Think please, please don't do it.

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About the Author

Dan Celia
Dan Celia is the CEO and President of Financial Issues Stewardship Ministries. Married to Registered Nurse, Yvonne, in 1980, Dan has two married daughters, is blessed with sons-in law who love the Lord, and has seven grandchildren. Dan has worked for 35 years as an entrepreneur and businessman, starting eight corporations and co-founder of two others. In 1999 Dan sold his Small Trust Company (managing over 900 million dollars) to go into Ministry. Dan has developed and uses a biblically-responsible system of financial management with great success. He started a radio ministry in 1997 as a part time ministry and has seen the Lord expand and bless this ministry to his current full-time ministry. Dan has interviewed newsmakers and pundits like Steve Forbes, Ben Stein, T. Boone Pickens, Tony Perkins, John Alison, Rayola Dougher API, Congressmen, Senators and Presidential candidates. He is proud of his partnership with the American Family Association where he serves as a board member. Dan is now on over 640 stations three hours daily, NRB TV, BizTV, Dove TV and CBN Life Style Network. Financial Issues is heard in every state in America and throughout the internet globally. Financial Issues has supporters from over 17 countries. Dan is a Regular Weekly Contributor to Townhall.com (the number 1 source for conservative news and analyzation). Dan has been a guest on Fox Business, Bloomberg, Salem Radio, Family Net, 700 Club,and many others . He is a conference speaker, author of six books, publishes a weekly newsletter and has been Executive Producer of several video productions and FISM TV is producing original family friendly content and other video projects all keeping with in FISM’s Christian world view.

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