Exploring Gold Ownership Options
Posted: Wed Dec 11, 2013 10:56 am
I've been running a PP for about 3 years. The one thing I've struggled with is how to own gold. Up until now, I've owned gold ETFs in tax advantaged accounts (Roth, IRA, profit sharing plan). Since gold doesn't throw off interest or dividends, I know that I shouldn't be using up valuable tax advantaged space for gold. The main reason I've been doing it is because I'm not completely comfortable with the other options.
Some of my biggest concerns have to do with owning gold in various stages of life. For example, I think I could manage just about any option now, but what about when I'm 85? What happens if I die young? What if I develop dementia later in life? Will my wife or heirs be able to manage things?
I'm wondering if others on this forum have thought about these issues? If so, what have you concluded is the best way of owning gold for the long run (i.e., including cases in which you personally might not be around or able to manage things)? I should add that in my case, my wife has very little interest in financial matters.
For those of you who do use (or have strongly considered using) the Perth Mint, how much of your gold allocation (%) would you feel comfortable placing in Perth Mint Certificates or the Perth Mint Depository program? 50%? 75%? All of it?
For those familiar with the Perth Mint options, processes and so on, which of the two options (certificate program or depository program) would be better/easier for a non-financial spouse or heirs to deal with if I'm no longer part of the picture?
For those of you who use GTU, how much of your gold allocation (%) would you feel comfortable placing in GTU?
Thanks.
Some of my biggest concerns have to do with owning gold in various stages of life. For example, I think I could manage just about any option now, but what about when I'm 85? What happens if I die young? What if I develop dementia later in life? Will my wife or heirs be able to manage things?
I'm wondering if others on this forum have thought about these issues? If so, what have you concluded is the best way of owning gold for the long run (i.e., including cases in which you personally might not be around or able to manage things)? I should add that in my case, my wife has very little interest in financial matters.
For those of you who do use (or have strongly considered using) the Perth Mint, how much of your gold allocation (%) would you feel comfortable placing in Perth Mint Certificates or the Perth Mint Depository program? 50%? 75%? All of it?
For those familiar with the Perth Mint options, processes and so on, which of the two options (certificate program or depository program) would be better/easier for a non-financial spouse or heirs to deal with if I'm no longer part of the picture?
For those of you who use GTU, how much of your gold allocation (%) would you feel comfortable placing in GTU?
Thanks.