Jack Hanney CEO of Patriot Gold Group joined us to talk about using Gold IRAs to protect your savings from inflation, and what can happen when you lose track of old 401k’s from previous jobs. There could be upcoming changes to your 401k. Last month, a little-noticed proposed rule by the Labor Department could add new directives to your retirement savings.

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HOW TO: Hedge Against Inflation

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Inflation can have a significant impact on the purchasing power of your savings. If left unmanaged, it could mean your hard-earned money is worth less in the future. However, there are several ways to protect your savings from inflation:

1. Invest in stocks and bonds

One way to protect your savings from inflation is by investing in stocks and bonds. Historically, stocks and bonds have provided returns that have outpaced inflation. By investing in a diversified portfolio of stocks and bonds, you can mitigate the risks associated with investing in individual stocks.

2. Consider real estate investment trusts (REITs)

Real estate investment trusts (REITs) own and operate income-producing properties, such as shopping centers, apartment buildings, and office buildings. Investing in REITs can provide a steady income stream and a hedge against inflation.

3. Invest in commodities

Investing in commodities, such as precious metals, oil, and agricultural products, can help protect your savings from inflation. Commodities tend to increase in value during periods of inflation.

4. Consider inflation-protected securities

Inflation-protected securities, such as Treasury inflation-protected securities (TIPS), are bonds that are designed to protect against inflation. They provide investors with a guaranteed rate of return that is adjusted for inflation.

5. Diversify your portfolio

The key to protecting your savings from inflation is diversification. By spreading your investments across different asset classes, you can mitigate the risks associated with any one particular investment.

6. Keep an eye on interest rates

When interest rates rise, bond prices tend to fall. This can have a significant impact on your portfolio if you are invested heavily in bonds. Keep an eye on interest rates and consider adjusting your portfolio accordingly.

7. Stay informed

Inflation is a complex economic phenomenon that can be affected by a variety of factors, including government policies, global events, and market forces. Stay informed about these factors and adjust your investment strategy accordingly.

In conclusion, protecting your savings from inflation requires a proactive approach. By investing in a diversified portfolio of stocks, bonds, commodities, and inflation-protected securities, you can mitigate the risks associated with inflation and preserve the purchasing power of your savings.