Taking money out of retirement funds to purchase cards

[Peter_Spaeth]

Originally Posted by BobC

And exactly why I said MAYBE in the future. LOL

They do currently allow somewhat non-traditional things like precious metals to be held in IRAs, which definitely falls into Warren Buffet's non-productive asset category. That is the same category cards would fall into, non-productive assets. So you never know. if enough people start pushing it as an alternative asset for retirement account holdings, they may get Congress to okay it one day. At least it is a tangible, physical asset, unlike Bitcoin and other such completely intangible investments/assets.

Bob, what's the difference between an IRA where you "own" physical gold or just owning an ETF in your account like GLD? And in the case of the former, where is the actual gold and who has possession of it? It's a weird concept to me, although I guess I was vaguely aware of it as an option.

[BobC]

Originally Posted by Peter_Spaeth

Bob, what's the difference between an IRA where you "own" physical gold or just owning an ETF in your account like GLD? And in the case of the former, where is the actual gold and who has possession of it? It's a weird concept to me, although I guess I was vaguely aware of it as an option.

Yeah, I know. Not really a huge difference, but to me at least, the fact there is a physical asset that eventually backs something up, like an actual piece of gold, makes a big difference as opposed to say Bitcoin, where there is literally nothing physically backing it up. Even when you own a share of stock in a company, you technically own a piece of the actual physical assets that company owns.