Should seniors buy gold bars and coins? Pros and cons to know

After a great run for gold prices over the past few months, more seniors may be turning to gold for its potential for stable returns and diversification.

Specifically, physical gold in the form of bars and coins may hold some appeal for those who want to benefit directly from gold's value with a tangible asset. But before deciding to buy in, it helps to know exactly how gold bars and coins may benefit senior investors, as well as the drawbacks to watch out for.

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These pros and cons can help seniors decide if investing in gold via bars and coins is the right choice for their portfolios.

Gold bars and coins can make gold a valuable part of your portfolio at any age for a few reasons.

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Investing in gold bars and coins can also have some disadvantages — especially for senior investors who may have shorter investment timelines or are focused on maximizing returns. Here's what to know:

If you're a senior looking to diversify your portfolio, investing in physical gold could be a good option. It may help keep your portfolio stable over periods of economic uncertainty and inflation while maintaining liquidity. Just make sure you're aware of the costs and keep a healthy portion of your overall portfolio in other assets that can help you maximize returns in your retirement years. 

Before you buy in, it can be useful to speak with an expert about your individual investment plan and how buying gold bars or coins may help you reach your goals. Start exploring with a free investment guide here now.