Augusta Precious Metals is better suited if you’re retired or nearing retirement and looking to diversify your retirement portfolio with precious metals exposure.
In general, if you have a longer time horizon, you’re better off with the stock market or long-term growth investments that can survive downturns over time.
While having a small position in precious metals may dampen portfolio volatility in the short-run, the tradeoff between slightly dampened volatility and the lost long-term return is certainly not a prudent one, particularly for Generation-Z [or] millennials with long investing time horizons.
– Robert Johnson, a chartered financial analyst, chairman and CEO of Economic Index Associates and professor of finance at the Heider College of Business at Creighton University
Augusta requires a high initial investment of $50,000. Financial advisors typically recommend allocating no more than 5% to 10% of your overall portfolio to precious metals. That means, ideally, you need a total retirement portfolio of $500,000 to $1 million to justify that minimum.
The idea behind investing in a gold IRA, such as one offered by Augusta Precious Metals, is that it works as an inflationary hedge. For example, if you have your money in cash, the cost of inflation erodes your purchasing power. The strategy of using a gold IRA is that the underlying assets appreciate in either a tax-deferred or tax-free Roth account.
Concierge Customer Service
Some of the perks of choosing Augusta are its transparent pricing and concierge-like customer service. It’s a great option for those who’d prefer hand-holding when it comes to investment products. With Augusta, you’ll be assigned a dedicated customer service agent throughout the account setup and management process.
The downside is you can’t set up or apply for an account online. If you prefer to go to a website without having to contact a person over the phone for transactions, you’re out of luck. The website chat feature funnels customers into a customer service phone call.