I must admit I am not that familiar with the ins and outs of investment, so I needed some help when it came to an IRA question I had. I wanted to know if I could invest in gold or silver as part of an IRA. I found a website called Investopedia that not only provided the information I was looking for, but also offers many other features that I also found useful.

The dictionary provides an explanation of terms that you may need to be explained in simple terms when dealing with certain investments. There is also a term for the day feature as well as a free investment newsletter. Again, I am not a big investor into anything that is a gamble, especially after the current collapse of many bubbles during the past few years.

But I did learn that you can invest in gold or silver as part of an IRA. The limitations are that you must use a brokerage house to store what you buy and can not hold the coins or bullion on your own. This is expensive since a book keeping fee of $250 a year is usually required to be paid. So unless you have a large amount in your IRA to convert over, this might not be advantageous. Of course there is always the chance that gold and silver prices could fall and you may lose money. 🙁

What web sites do you frequent to stay on top of your investments? Let us know.

Comments welcome.

Investopedia web site is here