There are numerous advantages to including gold in your retirement portfolio. This involves preserving the value of your savings even in the face of economic or political catastrophes such as war. Because gold has historically been known as a store of value, you can get these benefits from having a gold retirement plan.
Other valuable metals, such as silver and palladium, have also demonstrated that they provide these advantages. These additional metals can, fortunately, be included in your gold Individual Retirement Account. As a result, these accounts are often known as “precious metal IRAs.” However, obtaining these benefits may not be as simple as you believe. This is due to the fact that in order to purchase a precious metals IRA, you must first find a reputable precious metals IRA company.
Because they will be in control of practically every aspect of your investment, the firm you choose to administer your account is crucial. This includes purchasing the asset and depositing it in an IRS-approved third-party depository.
As a result, you must be extremely cautious in your choosing process to prevent getting duped. When looking for a reputable precious metal IRA company, there are a few factors you should keep in mind.
1. Investigate a few different businesses.
The initial step is to gather possible firms and research each one separately before contacting any of them. When you conduct your research, you will learn some important facts about the company and will be able to determine how useful the company will be to you.
The internet is the ideal place to conduct your studies. Your research should be focused on what people have to say about the company. This necessitates the reading of reviews. This way, you’ll know what to expect from the company and what not to expect.
The following are some red flags to watch out for while you conduct your research:
- Paid Reviews: If you search for “review about (the firm you’re researching)” in the query box, you’ll get a lot of results. It’s possible that some of these reviews are compensated. Because they are compensated, their opinions are likely to be skewed, so you should avoid relying on them. Most affiliate websites (those that receive a commission when individuals establish an account as a result of content on their site) will disclose that they receive a commission.
Instead of reading compensated reviews, we recommend checking out reputable review sites that not only emphasize the company’s positive aspects but also its drawbacks.
2. fake reviews: It’s very likely that you’ll come across fake reviews that lead you to believe that the firm is something it isn’t. To avoid this, you must conduct your investigation with extreme caution. Learn how to spot fake online reviews by clicking here.
3. Unlicensed Businesses: One of the most crucial things to look for when researching a business is whether or not they are licensed. Typically, the reviews should specify whether or not the company is licensed. Licensed businesses have typically met the state’s standards for operating their business.
2. Examine the businesses with your own eyes.
After checking their online reputation, you should be down to just a few companies. You’ll need to take a closer look at them at this stage to ensure that what you read online is accurate.
As a result, you’ll need to ask the firm a few key questions.
Important Questions to Ask Before Choosing a Gold IRA Company
Before you hire a business for the project, you should ask them the following key questions:
Q: When my investment is ready to be withdrawn, may I sell my precious metals back to the firm?
You can begin taking your retirement savings without penalty after you reach the age of 59 and a half. When that time comes, you may either have your precious metals delivered to you or sell them and receive the monetary value for your investment.
Not every business buys the assets back from its customers. So, if you don’t want to waste time looking for purchasers when it’s time to withdraw your funds, see if the company provides this service. If they do, you should also inquire as to whether the item will be purchased at the current market rate, so you don’t end up selling for less than the market price.
Q: How much will it cost me?
It’s critical to understand how you’ll be charged for the service. Low prices on their website are often provided solely to attract customers. As a result, you should inquire about this before deciding on a company.
Some of these businesses have hidden fees that will cause you to pay more than you anticipated. Learn how to discover and avoid some typical hidden charges by going to https://finance.yahoo.com/.
Typically, setup fees are only paid once. However, you may be charged additional costs that must be paid many times. Miscellaneous, maintenance, and storage fees are examples of additional fees.
The first step to ensuring you receive the full benefits of having precious metals in your retirement portfolio is to find a reputable gold IRA business. When looking for a company, you should be as thorough as possible and conduct extensive research before deciding on one. Reading internet reviews about them is a fantastic way to start. You should also think about their fees and make sure you’re receiving good value for your money.
These are the three essential things to know before you invest in cryptocurrency
It’s easy to invest in cryptocurrency with just a few taps of your smartphone. With crypto appearing in the news and conversations with friends, it’s tempting not to get in.
Crypto coin might not suit you, depending on your financial situation and willingness to take risks.
Tyrone Ross, CEO and founder of Onramp Invest (a crypto asset platform that registered investment advisors can use), said, “I am probably the most crypto hippie you will ever talk to.” He warns against investing in crypto. “I don’t believe the general public should invest in crypto.”
Imagine your finances as an ice cream cone. Crypto is the cherry on top. It is a small part of the overall sundae, and not everyone needs one.
Before you can take that cherry out of the jar, you have to put together the rest of the dessert. This is not ice cream. It means you need to build a solid financial foundation and learn everything you can about cryptocurrency before you invest any real money.
1. Financial safeguards should be in place.
It would help if you were prepared for the unexpected.
Workers who lost their income due to the pandemic have had to draw on savings, borrow money, or enroll in hardship programs to pay their bills. This has served as a stark reminder about the importance of an emergency fund.
“You can feel like Superman/Superwoman when you’re young,” but when the bubble bursts, it is possible to lose your job for up to nine to twelve months,” states Theresa Morrison, a Tucson-based financial planner. “Don’t underestimate the impact of systemic shocks on the market.”
Morrison suggests saving six months of living expenses for singles and three months for couples who share costs. Even a few hundred dollars saved can help you when you have an unexpected expense. You can also pay down high-interest debt like credit card debt to improve your financial situation.
Also, review your insurance coverage as these policies can help you get through difficult times. If you have dependents, life insurance is critical.
Start thinking about your long-term, medium- and short-term financial goals once you have enough money saved for emergencies. You should save money for retirement, especially if you have a plan that offers an employer match. However, you should set goals for saving money for other critical life stages.
2. Invest in the future and save!
“Most people want the freedom to travel every year, purchase a house in 10years, and get married in 10years. These things are expensive,” Morrison states.
“Calculate how much it will cost in today’s terms, and then figure out how much you can save each month from your paycheck. My experience shows that this can easily be as low as $1,000 per month (EUR1,164).
3. Learn more about cryptocurrency
You have the money, and you are ready to jump on the crypto train. But you don’t know how someone buys it. Crypto. Or how it fits into your overall financial plan. If it is too risky.
Take your time. Do not spend your money on things you don’t know. Spend some time learning about crypto.
It is essential to understand the mechanics, but it is equally necessary to determine your type of investor. This will affect the types of investments that you would be a good match for.
To determine if this asset class is suitable for you, there’s a process. What is your plan? What age are you? What are your goals, and how old are you? Are you tech-savvy? Are you able to understand the implications of holding these assets without them being insured? What happens if you are not there? Who in your family will be able to retrieve the stuff? Ross said.
People don’t do their due diligence before investing money in something. Although it isn’t a sexy answer to your question, it is the truth.
Also Read: Le Bon Coin can we still sell and buy? 2021
Start small if you still want to dabble in crypto.
Once you understand how everything works, you can start to consider allocating some of your extra cash toward crypto. Keep your investments small and manageable. Ross suggests investing $500 (EUR582) or more. You can be sure that even if you lose everything, you have a specific budget.
“If you invest in crypto, it is dead money. A Denver financial planner, Danny Lee, says that money is something you will never be able to get back.”
“It’s going be a speculative investment at the end of it all.”
Poly Network hacker recovered more than $600,000,000 in stolen crypto
Two weeks ago, the hacker started returning the funds.
After stealing crypto coins worth $600 million from Poly Network, the hacker has completed returning them (via CNBC). Poly Network says in a blog post that it’s now beginning the process of returning the stolen assets, including Ethereum, Binance tokens, and Dogecoin, to their rightful owners. Poly Network says that there’s still work for it to do — it’s working on getting approximately $33 million worth of assets unfrozen and is continuing to restore the functionality of its Poly Bridge service, which lets users transfer crypto between blockchains.
After the attack, the hacker said that he’d stolen the funds to keep them safe, saying that putting the coins in a “trusted account” was a way to highlight the bug without allowing someone else to make away with them. Poly Network has had a fairly constant banter with him; even calling him “Mr White Hat” was the hacker’s title in Poly Network’s series of updates. Poly Network invited the hacker as their chief security adviser. The hacker (seemingly jokingly) accepted the invitation, sending a message to the company stating, “your chief security advisory.” Chainalysis also points out that it can be difficult to spend stolen funds due to blockchain tech’s transparency.
“THANKS TO MR. WHITE HAT’S COOPERATION, POLY NETWORK HAS OFFICIALLY ENTERED THE FOURTH PHASE OF OUR ROADMAP ‘ASSET RECOVERY.’”
After the hack occurred earlier this month, there was speculation about how the hacker had carried it out, with some analysts suggesting that he had even been able to obtain Poly Network’s private keys. The further analysis seems to show that this wasn’t the case — instead, the hacker was able to exploit a security flaw in the Poly Network that allowed him to execute transactions that he shouldn’t have been able to.
“SORRY FOR THE INCONVENIENCE!” It MUST BE ONE OF THE WILDEST ADVENTURES IN OUR LIFE.
Embedded in one of the final transactions from the hacker is a long note, in which he apologizes for the inconvenience he’s caused, calls the hack and process of returning the funds a “wild adventure,” and promises to return more money than he originally stole (which he requests be distributed to “survivors,” seemingly referring to those who had their money stolen). The hacker claims that the additional funds from the $500,000 bounty Poly Network paid him to find the security flaw. He also claimed that the hacker received a stream of donations since then (and continues to receive, according to his wallet transaction records).
“DISTRIBUTING EXTRA ASSETS TO ‘SURVIVORS” WOULD BE THE LAST REQUEST OF THIS MAN.
Poly Network said in another blog post that it would start a $500,000 bug bounty program to encourage researchers to find (and responsibly disclose) other vulnerabilities in its software. Currently, the company’s bug bounty listing on Immunefi says that the maximum bounty is $100,000.
As for when Poly Network’s users will see the returned funds hit their wallets, the company says it’s working on returning them “within the shortest time frame possible.”
Navigating employees in a multi-priority work environment
The brick-and-mortar workplace was more than just the heart of the business. It was also the setting that defined and nurtured the meaning and purpose that the company provided to employees’ lives.
It is hard to believe that this pandemic has been around for just over a year, considering how easily employees and operations can be done in a remote-first environment. The pandemic’s most significant impact has not been the transition to remote working but the transformation of the workplace and the entire employee-employer relationship.
A collision of priorities
A physical workplace was the place where an employee could give their full attention during workdays. The office was synonymous to work. It provided a backdrop for human resource priorities such as employee engagement, benefits, and more. The brick-and-mortar workplace was more than just the heart of the business. It was also the setting that defined and nurtured the meaning and purpose that the company provided to employees’ lives.
The entire employee experience, from onboarding to daily business, is now contained within a smartphone or laptop screen. Our screens are the entire office. However, the physical world of an employee is set among mundane household sounds (from the doorbell to the pressure cooker). Priorities at home and work. The average employee is maybe managing a highly structured meeting/review while still making breakfast. The urgent business imperatives and work deliverables are often intertwined with children’s classroom sessions, emergency visits to the doctor, elderly care, and the needs of parents/inlaws.
The bottom line is that priorities are often equally urgent and compelling. Even though they are feeling strained by the pandemic, employees must be enabled to prioritize their next actions in the most efficient way possible. How can leaders and managers of India Inc adapt to this new paradigm?
First, make conversation count.
Many thousands of post-pandemic employees have never met the culture that is part of office life. This “culture”, which companies express through their leadership interactions, cheerful office events, cafeteria and campus conversations, has almost disappeared. Their colour and accessories have been replaced almost entirely by online conversations. Leaders, people managers, and HR teams need to find meaningful ways to communicate the essence of their company’s culture with employees.
This means getting back to basics. These simple touches can help bring some comfort to a life that can sometimes feel unfocused and overwhelming. Leaders will only be able to connect with employees who are often distracted or have multiple priorities.
Second, to enable people to bring out their best every day.
People and communities around the world have experienced the pandemic as a disorienting experience. It is not over. It has disrupted our collective way of living and presented hundreds of complex challenges for employees all over the world. People are increasingly looking for ways to make work and life easier. The needs of employees after the pandemic – financial support, teleworking support, healthcare – are similar. However, the needs of employees are different for each segment and person. Employers have many options to meet their employees’ individual needs, such as pet care, eldercare, salary advancements, and childcare.
Third, you must be a good example of wellness.
This is a sad statement. Employees don’t make the most of employee wellness opportunities. While it is clear that wellness has a significant impact on productivity and effectiveness (and the pandemic only reinforced its importance), employees cannot fully utilize the resources available to them. Why is this? They need to see their leaders and managers use these resources first. They can then feel confident using this social license because they have set a precedent. It also promotes the notion that physical and mental well-being is not something that should be a distant goal or something that people should strive for, but something that they can achieve.
Fourth, to serve as a bridge between opportunities.
In response to the many difficulties created by the pandemic, a whole ecosystem has emerged of wellness, elder care, health and childcare, and personal growth startups and offerings. This ecosystem is a testament to humanity’s determination to overcome difficult circumstances and pursue opportunities in adversity. So that their teams can take advantage of the opportunities, companies should create pathways for experts and teams to do incredible work in different domains within the ecosystem.
Fifth, recognize the people.
Managers behind the people
Many people outside of the HR industry don’t realize that managers are not qualified to perform as quasi-frontline workers within their organizations. They were not expected to perform this role. This role is being performed with agility, and effectiveness by many should be fully acknowledged. Senior HR leaders and corporate leaders must also recognize India Inc’s young talent in HR. They have taken on the new role with enthusiasm and focus, despite not being familiar with the profession. These young people are at once an employee and a partner in HR. This is a job that can be done 24×7, even during a pandemic.
The pandemic is the most rigorous test of corporate and human values. It has brought to light the true DNA of companies and their ethos. Customers, employees, and markets all pay close attention to how companies treat their people. Companies that live up to the high standards they set will have greater respect for, admiration, and social license within the communities where they work and serve. India Inc will be remembered for its leadership in guiding its employees to a better future.
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