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The Silent Partner in Your Retirement Account (And How to Take Back Control) · The Crest Report

• 0:11
  SPEAKER_01: From Golden Crest Metals, this is the Crest Report, where markets meet reality.
• 0:17
  SPEAKER_01: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
• 0:22
  SPEAKER_01: And now, here's your host, Rich Jacoby.
• 0:25
  SPEAKER_00: The biggest banks on the planet bought 39 tons of gold in August.
• 0:31
  SPEAKER_00: 39 tons.
• 0:33
  SPEAKER_00: China alone bought 20.
• 0:35
  SPEAKER_00: And while they were loading up, a lot of folks at home were told, oh, gold, you don't need that.
• 0:41
  SPEAKER_00: Hmm.
• 0:42
  SPEAKER_00: Somebody's not telling you the whole story.
• 0:44
  SPEAKER_00: And on this show, I'm going to tell you the whole story.
• 0:47
  SPEAKER_00: Hey everybody, welcome to the Crest Report.
• 0:49
  SPEAKER_00: I'm Rich Jacoby.
• 0:50
  SPEAKER_00: I started Golden Crest Metals.
• 0:52
  SPEAKER_00: And starting this week, I'm the guy in the chair.
• 0:55
  SPEAKER_00: Now, I'm not a radio guy.
• 0:56
  SPEAKER_00: I used to be a cop, LAPD.
• 0:59
  SPEAKER_00: So I'm going to talk to you the way I talk to my own family.
• 1:01
  SPEAKER_00: Straight.
• 1:02
  SPEAKER_00: And before we go, one more minute, here's the number.
• 1:05
  SPEAKER_00: Write it down.
• 1:06
  SPEAKER_00: 888-991-6222.
• 1:11
  SPEAKER_00: Again, 888-991-6222.
• 1:16
  SPEAKER_00: Or go to myfreegoldinfo.com.
• 1:20
  SPEAKER_00: When you call, tell them Rich sent you.
• 1:22
  SPEAKER_00: You'll get a free portfolio review, a free investor kit, and on qualifying purchases, up to$25,000 in free silver.
• 1:30
  SPEAKER_00: Call for details.
• 1:32
  SPEAKER_00: We've got a lot to get to this week.
• 1:34
  SPEAKER_00: Gold, silver, the Fed, oil, your Social Security raise, and a deadline coming up on your retirement account that a lot of people are going to miss.
• 1:44
  SPEAKER_00: And later on, I'll answer some of the questions our team hears every single week.
• 1:49
  SPEAKER_00: Let's go.
• 1:51
  SPEAKER_00: So let me start with this.
• 1:53
  SPEAKER_00: If you've got money in a 401k or a traditional IRA, you've got a partner in that account.
• 2:01
  SPEAKER_00: You never met him, you never signed anything with him, but every time you take a dollar out, he takes his cut first.
• 2:08
  SPEAKER_00: It's Uncle Sam.
• 2:10
  SPEAKER_00: And I'm not saying that to be political, I'm saying it because it's math.
• 2:13
  SPEAKER_00: 247 Wall Street walk through it this week.
• 2:16
  SPEAKER_00: If you were born between 1951 and 1959, the IRS says you start pulling money out at 73.
• 2:25
  SPEAKER_00: Born in 1960 or later, it's 75.
• 2:28
  SPEAKER_00: Those are required minimum distributions.
• 2:32
  SPEAKER_00: And every dollar you pull out of a traditional IRA or 401k taxed as income.
• 2:38
  SPEAKER_00: And Forbes ran a piece this week on the RMD mistakes people make.
• 2:43
  SPEAKER_00: Miss one, and the penalty is 25%.
• 2:47
  SPEAKER_00: 25% of the money you were supposed to take out.
• 2:51
  SPEAKER_00: And for most folks, the deadline for this year's distribution is December 31st.
• 2:57
  SPEAKER_00: That's less than three months away.
• 2:59
  SPEAKER_00: Here's the part people don't know.
• 3:01
  SPEAKER_00: 24-7 Wall Street had another one.
• 3:03
  SPEAKER_00: At 73, the IRS only makes you take about 3.7% that first year.
• 3:10
  SPEAKER_00: Sounds small, but that percentage goes up every single year.
• 3:13
  SPEAKER_00: The older you get, the bigger the slice, and every slice is taxed.
• 3:18
  SPEAKER_00: And if you're still working at 75, you might be able to skip the RMD on your current employer's 401k if the plan allows it.
• 3:27
  SPEAKER_00: But the plan from your old job doesn't qualify.
• 3:30
  SPEAKER_00: Your IRAs never qualify.
• 3:33
  SPEAKER_00: Miss one of those, and there's that penalty again.
• 3:36
  SPEAKER_00: Now I'm not your accountant, I don't give tax advice, and I'm not going to pretend to.
• 3:41
  SPEAKER_00: But here's the question you should be asking somebody, your specialist, your tax person, whoever you trust.
• 3:47
  SPEAKER_00: What am I actually holding in there?
• 3:49
  SPEAKER_00: And is any of it something real?
• 3:52
  SPEAKER_00: Because when I was on the job at LAPD, we'd get these calls.
• 3:55
  SPEAKER_00: Same house, same address, every couple weeks.
• 3:59
  SPEAKER_00: And everybody in that house knew there was a problem.
• 4:02
  SPEAKER_00: Everybody.
• 4:03
  SPEAKER_00: But nobody wanted to deal with it until it was too late.
• 4:06
  SPEAKER_00: Retirement accounts are the same way.
• 4:08
  SPEAKER_00: People know the tax bill's coming.
• 4:11
  SPEAKER_00: They know the market's a roller coaster.
• 4:13
  SPEAKER_00: They just don't want to look.
• 4:16
  SPEAKER_00: So look, that's what this show is for.
• 4:18
  SPEAKER_00: Here's what I want you to do: pick up the phone.
• 4:21
  SPEAKER_00: 888-991-6222.
• 4:26
  SPEAKER_00: Again, 888-991-6222.
• 4:32
  SPEAKER_00: Ask for the free portfolio review.
• 4:34
  SPEAKER_00: They'll look at what you've got and they'll tell you straight whether gold even makes sense for you.
• 4:39
  SPEAKER_00: And if it doesn't, they'll tell you that too.
• 4:42
  SPEAKER_00: That's how we do it.
• 4:44
  SPEAKER_00: Now, one more thing on retirement accounts from the daily overview.
• 4:48
  SPEAKER_00: If you already give to charity, there's a rule that lets you send money straight from your IRA to a charity up to$111,000 this year, and it can count toward your RMD.
• 4:59
  SPEAKER_00: Now, I'm not telling you to do that.
• 5:01
  SPEAKER_00: I'm telling you to ask your tax person about it.
• 5:04
  SPEAKER_00: Because most people never hear about it until it's too late.
• 5:07
  SPEAKER_00: You see what I mean?
• 5:09
  SPEAKER_00: It's complicated.
• 5:10
  SPEAKER_00: And if you ask me, it's complicated on purpose.
• 5:14
  SPEAKER_00: The more confusing it is, the more people just leave everything where it is and hope it works out.
• 5:19
  SPEAKER_00: And look, I'm not saying any of this to scare you.
• 5:21
  SPEAKER_00: I'm saying it because nobody ever sat my grandfather down and walked him through his own money.
• 5:26
  SPEAKER_00: I think about that a lot.
• 5:28
  SPEAKER_00: So I'm walking you through it.
• 5:29
  SPEAKER_00: That's all this is.
• 5:31
  SPEAKER_00: Alright, let me read you some headlines.
• 5:34
  SPEAKER_00: Because there's a lot going on.
• 5:36
  SPEAKER_00: Reuters through Kitco News.
• 5:39
  SPEAKER_00: Gold edges up as October rate hike bets ease.
• 5:44
  SPEAKER_00: And the reason they gave?
• 5:45
  SPEAKER_00: Continued worries about rising U.S.
• 5:48
  SPEAKER_00: government debt.
• 5:49
  SPEAKER_00: Write that one down.
• 5:51
  SPEAKER_00: CNBC, gold's spot price this week, about$4,156 an ounce.
• 5:58
  SPEAKER_00: The World Gold Council.
• 6:00
  SPEAKER_00: Central banks bought 39 net tons of gold in August.
• 6:04
  SPEAKER_00: China's central bank, 20 tons by itself.
• 6:07
  SPEAKER_00: That's the 22nd straight month China's been buying.
• 6:11
  SPEAKER_00: And Poland?
• 6:12
  SPEAKER_00: Poland's bought even more than China this year, 98 tons.
• 6:16
  SPEAKER_00: So think about that.
• 6:17
  SPEAKER_00: The biggest banks in the world, the ones that print the money, they're buying gold month after month after month.
• 6:25
  SPEAKER_00: You gotta ask yourself why.
• 6:27
  SPEAKER_00: Now I promised you the whole story.
• 6:29
  SPEAKER_00: So here's the other side.
• 6:31
  SPEAKER_00: Gold's been down.
• 6:32
  SPEAKER_00: Back in August, it was near$4,700 an ounce.
• 6:36
  SPEAKER_00: KitCo had it this week around$4,140.
• 6:39
  SPEAKER_00: Bank of America, in a September 30th report, said it could dip toward$3750.
• 6:44
  SPEAKER_00: That's their call.
• 6:45
  SPEAKER_00: And on the other side, Goldman Sachs has a year-end target around$4,900.
• 6:50
  SPEAKER_00: JP Morgan has talked about$6,000 by the end of this year, though they did trim their average forecast this week.
• 6:57
  SPEAKER_00: So you've got the biggest banks in the world, and they can't agree.
• 7:01
  SPEAKER_00: Nobody knows.
• 7:02
  SPEAKER_00: Nobody.
• 7:03
  SPEAKER_00: And anybody who tells you they know exactly where gold's gonna be in December, you hang up on that guy.
• 7:09
  SPEAKER_00: So why am I telling you this?
• 7:11
  SPEAKER_00: Because I get calls every week.
• 7:13
  SPEAKER_00: Rich, I'm gonna wait for it to come down.
• 7:15
  SPEAKER_00: And honestly, I get it.
• 7:17
  SPEAKER_00: Everybody wants a deal.
• 7:18
  SPEAKER_00: But if you're buying gold to time the market, you're missing the point.
• 7:22
  SPEAKER_00: You don't buy a fire extinguisher because it's on discount.
• 7:25
  SPEAKER_00: You buy it because you've got a kitchen.
• 7:27
  SPEAKER_00: The people I talk to who sleep best at night, they're not the ones who guess the bottom.
• 7:32
  SPEAKER_00: They're the ones who said, a piece of what I've got should be something I can hold in my hand.
• 7:38
  SPEAKER_00: And then they stopped checking the price every day.
• 7:41
  SPEAKER_00: Me?
• 7:42
  SPEAKER_00: I check it every day, but that's my job.
• 7:44
  SPEAKER_00: So if you've been sitting on the fence waiting, pick up the phone.
• 7:48
  SPEAKER_00: 888-991-6222.
• 7:53
  SPEAKER_00: Again, 888-991-6222.
• 7:59
  SPEAKER_00: Or go to myfreegoldinfo.com.
• 8:02
  SPEAKER_00: Tell them Rich sent you.
• 8:04
  SPEAKER_00: Let me give you one of my favorite ways to think about gold.
• 8:08
  SPEAKER_00: There's an old saying in this business.
• 8:10
  SPEAKER_00: They say, back in ancient Rome, an ounce of gold would buy a man a nice toga, a belt, and a pair of sandals.
• 8:19
  SPEAKER_00: And today, an ounce of gold will still buy you a really nice suit, a belt, and a good pair of shoes.
• 8:27
  SPEAKER_00: Now think about what a dollar bought your parents: a gallon of gas, a loaf of bread, a cup of coffee, and change left over.
• 8:36
  SPEAKER_00: What does a dollar buy you now?
• 8:38
  SPEAKER_00: Not much.
• 8:39
  SPEAKER_00: Maybe a pack of gum if you're lucky.
• 8:42
  SPEAKER_00: That's the whole thing right there.
• 8:43
  SPEAKER_00: Gold doesn't really go up so much as the dollar goes down.
• 8:47
  SPEAKER_00: The paper changes, the metal doesn't.
• 8:50
  SPEAKER_00: And that's why people have used it for thousands of years to hold on to what they built.
• 8:54
  SPEAKER_00: Not to get rich quick, to stay where they are.
• 8:58
  SPEAKER_00: Okay, let's talk about Washington for a minute.
• 9:01
  SPEAKER_00: I'm not going to get political on you.
• 9:02
  SPEAKER_00: I don't care who you voted for.
• 9:04
  SPEAKER_00: This is just math.
• 9:06
  SPEAKER_00: Back on September 16th, the Federal Reserve raised rates for the first time since 2023.
• 9:12
  SPEAKER_00: Chairman Kevin Walsh, the Hill reported that several Fed officials are signaling more hikes could be coming.
• 9:19
  SPEAKER_00: And the Motley Fool reported this week that the president is publicly going after his own Fed chair over it.
• 9:26
  SPEAKER_00: The president wants rates way down.
• 9:28
  SPEAKER_00: The Fed went up.
• 9:29
  SPEAKER_00: So you've got the White House pulling one way and the Fed pulling the other.
• 9:34
  SPEAKER_00: Then the latest jobs report came in weak, and the market pretty much priced out an October hike.
• 9:40
  SPEAKER_00: That gave gold a little lift, but treasury yields are up near multi-decade highs.
• 9:46
  SPEAKER_00: Kitko said it, FX Street said it.
• 9:49
  SPEAKER_00: And here's why that matters to you.
• 9:51
  SPEAKER_00: When rates go up, it costs the government more to borrow.
• 9:56
  SPEAKER_00: And the government borrows a lot.
• 9:58
  SPEAKER_00: Think about it like a credit card.
• 10:01
  SPEAKER_00: If you or I ran up a balance like that, the bank would cut us off.
• 10:05
  SPEAKER_00: We'd be getting the phone calls.
• 10:06
  SPEAKER_00: But the government, it just keeps raising the limit.
• 10:09
  SPEAKER_00: And every time the interest rate goes up, the payment gets bigger.
• 10:14
  SPEAKER_00: And somebody's got to pay it.
• 10:16
  SPEAKER_00: So when Reuters says gold's being held up by worries about government debt, that's what they mean.
• 10:22
  SPEAKER_00: It's not some crazy prediction.
• 10:24
  SPEAKER_00: It's just a lot of people looking at that credit card statement and saying, you know what?
• 10:28
  SPEAKER_00: I want a piece of my savings and something nobody can print more of.
• 10:33
  SPEAKER_00: And that brings me to the thing a lot of people get wrong.
• 10:36
  SPEAKER_00: A lot of folks sell gold like the world's ending tomorrow.
• 10:40
  SPEAKER_00: Bunker in the backyard, canned beans, the whole thing.
• 10:44
  SPEAKER_00: And look, I get it, fear sells.
• 10:46
  SPEAKER_00: But that's not why most of my customers buy.
• 10:49
  SPEAKER_00: My customers are retired school teachers, nurses, guys who worked 30 years at the plant.
• 10:55
  SPEAKER_00: They're not preppers.
• 10:56
  SPEAKER_00: They're just tired.
• 10:57
  SPEAKER_00: Tired of opening that statement every quarter and feeling their stomach drop.
• 11:01
  SPEAKER_00: And they're tired of feeling like somebody else is in control of their money.
• 11:05
  SPEAKER_00: The bank, Wall Street, Washington.
• 11:07
  SPEAKER_00: Somebody they've never met makes a decision on a Wednesday afternoon and their account drops 10 grand by Friday.
• 11:14
  SPEAKER_00: Physical gold and silver are different.
• 11:16
  SPEAKER_00: It's the one retirement asset you can actually hold.
• 11:19
  SPEAKER_00: You can see it, you can store it, and when you want to sell it, you sell it.
• 11:24
  SPEAKER_00: So it's not about the end of the world.
• 11:26
  SPEAKER_00: It's about control.
• 11:27
  SPEAKER_00: Being in control of something you worked your whole life to build.
• 11:31
  SPEAKER_00: And if that's you, 888-991-6222.
• 11:38
  SPEAKER_00: Again, 888-991-6222.
• 11:43
  SPEAKER_00: Tell them Rich sent you.
• 11:46
  SPEAKER_00: So let me ask you something.
• 11:47
  SPEAKER_00: Just you, wherever you're listening right now, in the car, in the kitchen, wherever.
• 11:52
  SPEAKER_00: If you had to, could you tell me right now what's actually in your retirement account?
• 11:58
  SPEAKER_00: Not it's diversified, what's actually in it?
• 12:02
  SPEAKER_00: If the answer is no, that's okay.
• 12:04
  SPEAKER_00: Most people can't, but that's the first thing to fix.
• 12:08
  SPEAKER_00: Last time the market had a bad month, how did you sleep?
• 12:12
  SPEAKER_00: Be honest.
• 12:13
  SPEAKER_00: If you were up at two in the morning checking your phone, that's telling you something.
• 12:18
  SPEAKER_00: And if something happened to you tomorrow, would your spouse or your kids know where everything is?
• 12:24
  SPEAKER_00: Who to call?
• 12:25
  SPEAKER_00: You don't have to answer that to me.
• 12:27
  SPEAKER_00: Answer it to yourself.
• 12:29
  SPEAKER_00: And if any of that made you a little uncomfortable, that's what the free portfolio review is for.
• 12:35
  SPEAKER_00: 888-991-6222.
• 12:39
  SPEAKER_00: Again, 888-991-62-22.
• 12:46
  SPEAKER_00: Now let's get back to the news.
• 12:48
  SPEAKER_00: Cuz there's one more thing moving the markets this week.
• 12:52
  SPEAKER_00: Oil.
• 12:53
  SPEAKER_00: CNBC reported this week that Iran has stepped up its attacks on tankers going through the Strait of Hormuz.
• 13:00
  SPEAKER_00: Al Jazeera had Brent crude, the global benchmark, around$99.50 a barrel.
• 13:06
  SPEAKER_00: It's been sitting right around$100 for most of the past month, and oilprice.com ran a headline that said it perfectly why$100 oil is hard to kill.
• 13:17
  SPEAKER_00: Here's the crazy part.
• 13:18
  SPEAKER_00: The tanker tracking folks say oil's actually moving through the strait at about pre-war volumes again.
• 13:25
  SPEAKER_00: So the oil's flowing, and the price is still up near 100.
• 13:29
  SPEAKER_00: Why?
• 13:30
  SPEAKER_00: Because nobody trusts it.
• 13:32
  SPEAKER_00: Iran's parliament speaker said the strait doesn't reopen until their conditions are met.
• 13:37
  SPEAKER_00: More tankers got hit.
• 13:39
  SPEAKER_00: The G7 released 100 million barrels from emergency stockpiles, and it barely moved the price.
• 13:45
  SPEAKER_00: Now why do you care about oil on a gold show?
• 13:49
  SPEAKER_00: Fair question.
• 13:50
  SPEAKER_00: You care because oil's in everything.
• 13:53
  SPEAKER_00: The diesel in the truck that brings your groceries, the plastic, the fertilizer, your electric bill.
• 13:59
  SPEAKER_00: When oil sits near a hundred bucks, you feel it at the store a few weeks later, every time.
• 14:05
  SPEAKER_00: And when prices stay high, the Fed has a harder time cutting rates.
• 14:10
  SPEAKER_00: And the people who feel that most are folks on a fixed income.
• 14:14
  SPEAKER_00: I'm not going to tell you what oil does next.
• 14:17
  SPEAKER_00: Nobody knows.
• 14:18
  SPEAKER_00: But I'll tell you what I tell my own family.
• 14:21
  SPEAKER_00: When you can't control what's happening in the world, you control what you can.
• 14:26
  SPEAKER_00: And one of the things you can control is what you're holding.
• 14:31
  SPEAKER_00: I want to tell you a quick story because it's the reason I'm sitting here.
• 14:35
  SPEAKER_00: My grandfather was a World War II vet.
• 14:37
  SPEAKER_00: Sharp guy, real sharp.
• 14:39
  SPEAKER_00: And later in life, he got a phone call.
• 14:41
  SPEAKER_00: Somebody told him he'd want a sweepstakes.
• 14:44
  SPEAKER_00: Big money.
• 14:45
  SPEAKER_00: All he had to do was send a little fee to release it.
• 14:48
  SPEAKER_00: So he sent it.
• 14:49
  SPEAKER_00: And then they called back.
• 14:51
  SPEAKER_00: Oh, there's a processing fee.
• 14:53
  SPEAKER_00: Then a tax fee.
• 14:55
  SPEAKER_00: Then the truck's on its way, sir.
• 14:57
  SPEAKER_00: It's coming with your check.
• 14:58
  SPEAKER_00: Just one more payment.
• 15:00
  SPEAKER_00: Nobody ever came.
• 15:01
  SPEAKER_00: Nobody.
• 15:02
  SPEAKER_00: By the time the family figured it out, he'd lost almost everything.
• 15:06
  SPEAKER_00: His savings, his retirement, and we all had to chip in just to take care of him.
• 15:11
  SPEAKER_00: He wanted his independence.
• 15:13
  SPEAKER_00: He didn't want anybody in his business.
• 15:15
  SPEAKER_00: And I respect that.
• 15:16
  SPEAKER_00: But looking back, we should have had a better handle on it, all of us.
• 15:20
  SPEAKER_00: And you know what kills me?
• 15:22
  SPEAKER_00: He wasn't dumb.
• 15:23
  SPEAKER_00: They didn't get him because he was dumb.
• 15:25
  SPEAKER_00: They got him because he trusted the wrong voice on the phone.
• 15:29
  SPEAKER_00: People ask me, Rich, how does a cop end up in gold?
• 15:33
  SPEAKER_00: My dad was a military policeman, army, in Vietnam.
• 15:37
  SPEAKER_00: And he kind of steered me that way, service.
• 15:40
  SPEAKER_00: So I went into LAPD, did that for a number of years.
• 15:43
  SPEAKER_00: I wanted to help people out.
• 15:45
  SPEAKER_00: That was the whole goal.
• 15:46
  SPEAKER_00: But after a while, I felt like I was running in place.
• 15:49
  SPEAKER_00: You'd help somebody on a Tuesday and you'd be back at the same address the next week.
• 15:54
  SPEAKER_00: So I got into finance.
• 15:56
  SPEAKER_00: And for a while, honestly, I was a day trader.
• 16:00
  SPEAKER_00: Up, down, up, down, all day.
• 16:03
  SPEAKER_00: It's not fun.
• 16:04
  SPEAKER_00: The volatility, the stress, it really didn't appeal to me.
• 16:07
  SPEAKER_00: And I thought, if this is stressing me out and I'm young, what's it doing to somebody who's 70 and that's their whole retirement?
• 16:14
  SPEAKER_00: That's when I really started looking at gold and silver, how it behaves.
• 16:18
  SPEAKER_00: It dips, it climbs, sure, but it makes these more subtle movements over time.
• 16:23
  SPEAKER_00: It's not a roller coaster.
• 16:25
  SPEAKER_00: It's more like the tide.
• 16:26
  SPEAKER_00: And one thing I learned in the finance industry, and I'll never forget it, you can never guarantee a return to anyone on anything, ever.
• 16:35
  SPEAKER_00: So I won't.
• 16:36
  SPEAKER_00: Not on this show, not on the phone.
• 16:39
  SPEAKER_00: What I will do is tell you how it works, show you the costs, and let you decide.
• 16:43
  SPEAKER_00: And I tell every person who answers our phones the same thing.
• 16:47
  SPEAKER_00: Treat every caller like it's your own grandfather on the line.
• 16:50
  SPEAKER_00: So if you've got a mom, a dad, a grandparent, or if it's you, call us.
• 16:56
  SPEAKER_00: 888-991-6222.
• 17:00
  SPEAKER_00: Again, 888-991-6222.
• 17:05
  SPEAKER_00: Or text the word report to 638-257.
• 17:10
  SPEAKER_00: That's report to 638-257.
• 17:14
  SPEAKER_00: We'll send you the free investor kit.
• 17:16
  SPEAKER_00: Read it at the kitchen table.
• 17:18
  SPEAKER_00: Show it to your kids.
• 17:19
  SPEAKER_00: Then call us.
• 17:20
  SPEAKER_00: Tell them Rich sent you.
• 17:22
  SPEAKER_00: All right, more headlines.
• 17:24
  SPEAKER_00: Let's talk silver, because silver had a week.
• 17:26
  SPEAKER_00: Silver traded around$61 an ounce this week.
• 17:30
  SPEAKER_00: Boreal Markets said silver was the single biggest commodity mover one day this week, beating gold, beating copper.
• 17:37
  SPEAKER_00: But here's the honest picture.
• 17:39
  SPEAKER_00: Silver's about half of where it was back in January.
• 17:42
  SPEAKER_00: That's a big drop.
• 17:43
  SPEAKER_00: And Deutsche Bank put out a report saying the silver shortage could flip to a surplus in 2027.
• 17:49
  SPEAKER_00: They see it averaging around$70 by the middle of next year.
• 17:53
  SPEAKER_00: That's their forecast, not mine.
• 17:55
  SPEAKER_00: On the other side, investing.com ran a piece saying silver's supply deficit is getting harder to fix because most silver comes out of the ground as a byproduct of copper mining and copper ore is getting tight.
• 18:08
  SPEAKER_00: So smart people, both sides.
• 18:11
  SPEAKER_00: And then there's the buyers you never see.
• 18:13
  SPEAKER_00: The China Gold Association says China's central bank increased its gold reserves again, and demand for gold bars and coins in China rose sharply, even with prices this high.
• 18:24
  SPEAKER_00: Meanwhile, Bullion Vault reported that Wall Street money managers cut their bullish bets on gold for five weeks straight.
• 18:31
  SPEAKER_00: So the traders are getting out, and the central banks keep buying.
• 18:35
  SPEAKER_00: You know who that reminds me of?
• 18:37
  SPEAKER_00: The guy at the garage sale who's not haggling.
• 18:40
  SPEAKER_00: Everybody else is arguing over a dollar, and he's just quietly loading the truck.
• 18:45
  SPEAKER_00: He knows what he's buying.
• 18:46
  SPEAKER_00: Okay.
• 18:47
  SPEAKER_00: In a minute I'm going to get into some of the questions our team gets asked the most, because there are some good ones.
• 18:53
  SPEAKER_00: And a little later, I'm going to tell you what to do if your bank ever tells you gold is a scam.
• 18:58
  SPEAKER_00: And if you've got a question of your own, 888-991-6222.
• 19:05
  SPEAKER_00: Again, 888-991-6222.
• 19:12
  SPEAKER_00: And if you're just tuning in, I'm Rich Jacoby, and this is the Crest Report.
• 19:17
  SPEAKER_00: So far we've been talking about the silent partner in your retirement account, Uncle Sam.
• 19:23
  SPEAKER_00: We talked about gold coming off its highs and why the biggest banks in the world keep buying anyway.
• 19:29
  SPEAKER_00: Now there's a question that comes into our office just about every week, in one form or another.
• 19:35
  SPEAKER_00: My advisor says gold doesn't pay a dividend, so why would I own it?
• 19:39
  SPEAKER_00: And a lot of the time it's coming from somebody who just took over the account.
• 19:44
  SPEAKER_00: Maybe your spouse passed and they were the one who always handled the money.
• 19:48
  SPEAKER_00: So now you're looking at statements you never really had to read before.
• 19:52
  SPEAKER_00: And when you bring up gold, the advisor kind of brushes it off, calls it a fear trade.
• 19:57
  SPEAKER_00: So if that's you and you've lost someone, I'm sorry.
• 20:01
  SPEAKER_00: Take your time.
• 20:02
  SPEAKER_00: But don't let anybody make you feel silly for asking.
• 20:05
  SPEAKER_00: You're asking exactly the right question.
• 20:08
  SPEAKER_00: And here's what I'd ask you back.
• 20:10
  SPEAKER_00: When your advisor said that, did he actually walk you through what you're holding right now?
• 20:15
  SPEAKER_00: Because a lot of the time the answer is no.
• 20:18
  SPEAKER_00: He just said it's well diversified.
• 20:22
  SPEAKER_00: Well diversified.
• 20:23
  SPEAKER_00: I hear that a lot.
• 20:24
  SPEAKER_00: Okay.
• 20:25
  SPEAKER_00: So I want to be fair to your advisor.
• 20:27
  SPEAKER_00: He's not wrong that gold doesn't pay a dividend.
• 20:29
  SPEAKER_00: It doesn't.
• 20:30
  SPEAKER_00: It's not supposed to.
• 20:31
  SPEAKER_00: But here's what he might not mention.
• 20:34
  SPEAKER_00: Most advisors can't sell you physical gold.
• 20:37
  SPEAKER_00: They don't get paid on it.
• 20:39
  SPEAKER_00: So when you ask about something they can't offer, you're probably not going to get a big thumbs up.
• 20:45
  SPEAKER_00: It's like asking a Ford dealer if you should look at a Chevy.
• 20:48
  SPEAKER_00: Nice guy, he's just not sending you across the street.
• 20:51
  SPEAKER_00: So here's what I'd tell you if you were my own family.
• 20:54
  SPEAKER_00: Number one, find out what you've got.
• 20:56
  SPEAKER_00: Get it on one piece of paper.
• 20:58
  SPEAKER_00: Number two, decide how much of it you're okay seeing go up and down and how much you want to just sit there and hold its value.
• 21:06
  SPEAKER_00: And number three, talk to somebody who'll explain all your options, not just the ones they make money on.
• 21:12
  SPEAKER_00: For some people, a piece of that is physical gold and silver.
• 21:16
  SPEAKER_00: For some people, it isn't.
• 21:17
  SPEAKER_00: But you get to make that call.
• 21:19
  SPEAKER_00: You don't need anybody's permission.
• 21:20
  SPEAKER_00: So call our team.
• 21:22
  SPEAKER_00: They'll do the free portfolio review line by line.
• 21:25
  SPEAKER_00: And they're not going to brush you off.
• 21:27
  SPEAKER_00: I promise you that.
• 21:28
  SPEAKER_00: 888-991-6222.
• 21:32
  SPEAKER_00: Tell them Rich sent you.
• 21:34
  SPEAKER_00: You know, so many people tell us they felt silly for asking.
• 21:38
  SPEAKER_00: And I think a lot of people don't call because they don't know what's going to happen when they do.
• 21:43
  SPEAKER_00: So let me just tell you, step by step, you call 888 991 62 22.
• 21:51
  SPEAKER_00: A real person picks up, not a robot, not a menu with 14 options, a person.
• 21:58
  SPEAKER_00: They'll ask you a few questions.
• 22:00
  SPEAKER_00: What kind of accounts you have, roughly what's in them, what you're worried about.
• 22:04
  SPEAKER_00: And then they listen.
• 22:05
  SPEAKER_00: That's the most important part.
• 22:07
  SPEAKER_00: If you want, they'll do the free portfolio review.
• 22:11
  SPEAKER_00: You share what you've got, and we come back to you and say, okay, here's what we think in our opinion.
• 22:17
  SPEAKER_00: And then you decide.
• 22:19
  SPEAKER_00: Not us, you.
• 22:20
  SPEAKER_00: And if you're not ready to talk yet, text report to 638-257 and we'll send you the free investor kit.
• 22:29
  SPEAKER_00: If you're not tech savvy, no problem.
• 22:31
  SPEAKER_00: We'll mail you a hard copy.
• 22:33
  SPEAKER_00: Nobody's going to pressure you.
• 22:34
  SPEAKER_00: If anybody ever does, you tell me.
• 22:37
  SPEAKER_00: I'll take care of it.
• 22:38
  SPEAKER_00: And on qualifying purchases, you can get up to$25,000 in free silver.
• 22:44
  SPEAKER_00: Call for details.
• 22:46
  SPEAKER_00: 888-991-6222.
• 22:51
  SPEAKER_00: Again, 888-991-6222.
• 22:58
  SPEAKER_00: Now, a lot of people hear gold IRA and they think it's some complicated thing, like you need a lawyer and six months.
• 23:06
  SPEAKER_00: It's not.
• 23:07
  SPEAKER_00: Let me walk you through how it generally works in plain English.
• 23:10
  SPEAKER_00: You've got a 401k from an old job or an IRA sitting at a bank or a brokerage.
• 23:16
  SPEAKER_00: You decide you want a piece of that in physical gold or silver.
• 23:20
  SPEAKER_00: So you open what's called a self-directed IRA with a custodian.
• 23:25
  SPEAKER_00: That's just a company that holds the account and does the paperwork for the IRS.
• 23:29
  SPEAKER_00: Then the money moves from your old account to the new one, custodian to custodian.
• 23:35
  SPEAKER_00: It never touches your hands.
• 23:37
  SPEAKER_00: That part matters.
• 23:38
  SPEAKER_00: When it's done as a direct transfer like that, it's generally not a taxable event and there's no penalty.
• 23:45
  SPEAKER_00: But please check with your own tax professional on your situation.
• 23:49
  SPEAKER_00: I'm not your accountant and I don't want to be.
• 23:52
  SPEAKER_00: Then you pick the medals.
• 23:53
  SPEAKER_00: They have to be IRS approved coins or bars, and they go into a secure insured depository in your name, not in your closet, not under the mattress.
• 24:05
  SPEAKER_00: And if you ever want to see them, you can.
• 24:07
  SPEAKER_00: That's the whole process.
• 24:09
  SPEAKER_00: Our team handles the heavy lifting.
• 24:11
  SPEAKER_00: Most of what you do is sign a couple forms and answer a couple questions.
• 24:15
  SPEAKER_00: And if you've got an old 401k from a job you left years ago and you're not even sure what it's in, that's the perfect place to start.
• 24:24
  SPEAKER_00: Call 888-991-6222.
• 24:30
  SPEAKER_00: Or text report to 638-257 and we'll send you the free investor kit that walks through all of it.
• 24:40
  SPEAKER_00: Now, something a lot of you are watching, on October 14th, the government puts out the September inflation number.
• 24:47
  SPEAKER_00: And that's the last piece they need to set the Social Security raise for 2027.
• 24:53
  SPEAKER_00: USA Today says it's expected around 3.4%.
• 24:57
  SPEAKER_00: AARP's estimate is 3.6%.
• 25:00
  SPEAKER_00: The Motley Fool says it could be one of the bigger raises in the last 35 years.
• 25:05
  SPEAKER_00: On paper, that sounds great.
• 25:07
  SPEAKER_00: For the average retired worker, that's about$70 some dollars more a month starting in January.
• 25:13
  SPEAKER_00: But think about why you're getting a raise.
• 25:16
  SPEAKER_00: You're getting a raise because everything costs more.
• 25:19
  SPEAKER_00: Groceries, gas, insurance, your electric bill.
• 25:23
  SPEAKER_00: The raise isn't a gift, it's catch up.
• 25:25
  SPEAKER_00: And if Medicare premiums go up too, which they usually do, a chunk of it's gone before you ever see it.
• 25:32
  SPEAKER_00: My grandfather used to say, Rich, a dollar's only worth what it'll buy you at the store.
• 25:38
  SPEAKER_00: And he was right.
• 25:39
  SPEAKER_00: Doesn't matter what the statement says, what matters is what it buys.
• 25:44
  SPEAKER_00: Now some of you are thinking, Rich, the stock market's doing great.
• 25:48
  SPEAKER_00: Why would I touch anything?
• 25:50
  SPEAKER_00: And you're right.
• 25:51
  SPEAKER_00: The Washington Post and the LA Times both reported the SP 500 climbed to within a hair of its all-time high.
• 25:59
  SPEAKER_00: The NASDAQ set a record.
• 26:01
  SPEAKER_00: If you've got money in the market, you probably feel pretty good.
• 26:05
  SPEAKER_00: And I want you to feel good.
• 26:07
  SPEAKER_00: I'm not rooting against anybody's 401k.
• 26:10
  SPEAKER_00: But here's what I learned day trading.
• 26:12
  SPEAKER_00: The best time to protect what you've got is when you've got it, not after it's gone.
• 26:18
  SPEAKER_00: When I was a cop, the worst accidents I ever responded to, you know what they had in common?
• 26:24
  SPEAKER_00: Nine times out of ten, it was a beautiful day.
• 26:27
  SPEAKER_00: Clear roads.
• 26:28
  SPEAKER_00: Nobody thought they needed the seatbelt that day.
• 26:31
  SPEAKER_00: That's when people get hurt.
• 26:33
  SPEAKER_00: So I'm not saying sell your stocks.
• 26:35
  SPEAKER_00: I'm saying if everything you own goes up and down together, when it goes down, it all goes down together.
• 26:42
  SPEAKER_00: Some of it can ride the roller coaster, and some of it can just sit there and hold its value.
• 26:47
  SPEAKER_00: The folks who live through 2000, 2008, they don't usually say, I wish I'd made more.
• 26:53
  SPEAKER_00: They say, I wish I'd protected more.
• 26:56
  SPEAKER_00: So put your seatbelt on, pick up the phone, 888-991-6222.
• 27:02
  SPEAKER_00: Again, 888-991-6222.
• 27:07
  SPEAKER_00: Myfregoldinfo.com.
• 27:09
  SPEAKER_00: Tell them Rich sent you.
• 27:12
  SPEAKER_00: So people always ask me, Rich, how much should I have in gold?
• 27:15
  SPEAKER_00: And I'm going to give you the honest answer.
• 27:17
  SPEAKER_00: It depends.
• 27:19
  SPEAKER_00: I know, I know.
• 27:20
  SPEAKER_00: But hang with me, because there's a better way to think about it.
• 27:23
  SPEAKER_00: I call it the sleep at night number.
• 27:25
  SPEAKER_00: Forget the charts for a second.
• 27:27
  SPEAKER_00: Ask yourself, if the market dropped hard next month, how much of my money do I need to know is still going to be there?
• 27:34
  SPEAKER_00: Not growing, just there.
• 27:36
  SPEAKER_00: For a lot of folks, that number is bigger than they think.
• 27:39
  SPEAKER_00: For some, it's pretty small.
• 27:41
  SPEAKER_00: Either one is fine.
• 27:42
  SPEAKER_00: What's not fine is never asking the question, because then somebody else answers it for you, usually after the fact.
• 27:50
  SPEAKER_00: And usually it's the market answering it.
• 27:52
  SPEAKER_00: So here's what I do.
• 27:54
  SPEAKER_00: Figure out what you'll need in the next five, 10 years.
• 27:58
  SPEAKER_00: The money for the bills, the grandkids, the trip you keep putting off.
• 28:02
  SPEAKER_00: That's the money you really don't want riding the roller coaster.
• 28:06
  SPEAKER_00: And then talk to somebody about what makes sense for that part: gold, silver, cash, whatever it is.
• 28:13
  SPEAKER_00: That's a conversation, not a formula.
• 28:16
  SPEAKER_00: And it's exactly what our team does on the free portfolio review.
• 28:20
  SPEAKER_00: So if you've never figured out your sleep at night number, let's figure it out together.
• 28:25
  SPEAKER_00: 888-991-6222.
• 28:30
  SPEAKER_00: Again, 888-991-6222.
• 28:35
  SPEAKER_00: Or text report to 638-257 and tell them Rich sent you.
• 28:43
  SPEAKER_00: All right, here's one of the most common questions we get, especially from folks who are still working.
• 28:49
  SPEAKER_00: Can I move some of my 401k into gold while I'm still on the job?
• 28:54
  SPEAKER_00: Or do I have to wait till I retire?
• 28:57
  SPEAKER_00: And if you've asked around, you've probably gotten three different answers from three different people.
• 29:02
  SPEAKER_00: And the reason you hear different things is because the answer depends on your plan.
• 29:06
  SPEAKER_00: Some employer plans let you do what's called an in-service rollover once you hit a certain age, usually 59 and a half.
• 29:14
  SPEAKER_00: Some don't.
• 29:15
  SPEAKER_00: Every plan's got its own rules.
• 29:18
  SPEAKER_00: So how do you find out without spending three hours on hold with HR?
• 29:22
  SPEAKER_00: You call us.
• 29:24
  SPEAKER_00: A specialist will help you check.
• 29:26
  SPEAKER_00: That's the first thing they'll do.
• 29:27
  SPEAKER_00: They'll look at your plan, tell you what's allowed, and work with your custodian on the paperwork.
• 29:33
  SPEAKER_00: You don't have to figure it out yourself.
• 29:35
  SPEAKER_00: And one more thing: if you've got an employer match, don't walk away from free money.
• 29:41
  SPEAKER_00: Most folks hear that and say, oh no, the match is good.
• 29:44
  SPEAKER_00: I'm not giving that up.
• 29:46
  SPEAKER_00: Good, you shouldn't.
• 29:48
  SPEAKER_00: A lot of folks keep contributing enough to get the match and then look at moving a portion of what's already built up.
• 29:56
  SPEAKER_00: That's a conversation for your specialist and your tax person.
• 30:00
  SPEAKER_00: And if you've put 20 some years in at the same job, that's money you earned the hard way.
• 30:05
  SPEAKER_00: It deserves somebody actually paying attention to it.
• 30:08
  SPEAKER_00: And if you're not even sure what kind of plan you've got, that's fine.
• 30:12
  SPEAKER_00: Grab your most recent statement, have it handy when you call, and your specialist will take it from there.
• 30:18
  SPEAKER_00: So everybody still working, wondering what you can do, 888-991-6222.
• 30:26
  SPEAKER_00: Again, 888-991-6222.
• 30:30
  SPEAKER_00: They'll check your plan for you free.
• 30:35
  SPEAKER_00: You know, all this talk about having a plan reminds me of my old sergeant.
• 30:40
  SPEAKER_00: 20 some years on the job, and every single morning at roll call, he'd tell us the same thing.
• 30:46
  SPEAKER_00: He'd say, Gentlemen, the most dangerous thing in this city isn't a criminal.
• 30:51
  SPEAKER_00: It's a guy who thinks he's got it all figured out.
• 30:54
  SPEAKER_00: And then he'd go back to his coffee.
• 30:57
  SPEAKER_00: I think about that a lot in this business.
• 30:59
  SPEAKER_00: The guy who thinks he's got it all figured out.
• 31:02
  SPEAKER_00: The market always comes back.
• 31:04
  SPEAKER_00: I don't need to look at it.
• 31:06
  SPEAKER_00: Maybe, maybe it does.
• 31:08
  SPEAKER_00: But my sergeant would have told you, hope's not a plan.
• 31:13
  SPEAKER_00: You know, after all these years, I see the same mistakes over and over.
• 31:17
  SPEAKER_00: And they're not dumb mistakes, they're human mistakes.
• 31:21
  SPEAKER_00: So let me give them to you.
• 31:22
  SPEAKER_00: Mistake number one, waiting for the perfect price.
• 31:26
  SPEAKER_00: People call and they say, Rich, I'm gonna wait till it drops, and then it goes up and they wait for it to drop again.
• 31:33
  SPEAKER_00: And five years later, they're still waiting.
• 31:35
  SPEAKER_00: Look, nobody can time this.
• 31:37
  SPEAKER_00: Not me, not the big banks.
• 31:39
  SPEAKER_00: If it's the right move for you, the price on any one week matters a lot less than you think.
• 31:45
  SPEAKER_00: Mistake number two, all or nothing.
• 31:48
  SPEAKER_00: Somebody gets scared and wants to put everything in gold.
• 31:52
  SPEAKER_00: Don't do that.
• 31:53
  SPEAKER_00: I'll tell you that myself.
• 31:55
  SPEAKER_00: Gold is the seatbelt, not the whole car.
• 31:58
  SPEAKER_00: For most people, it's a piece of the plan, a piece, not the whole thing.
• 32:03
  SPEAKER_00: And mistake number three, this is the big one, not telling the family.
• 32:08
  SPEAKER_00: You'd be amazed how many people have a plan that lives in their head and nowhere else.
• 32:15
  SPEAKER_00: And then something happens and the kids are going through drawers trying to figure out what mom and dad had.
• 32:21
  SPEAKER_00: Write it down.
• 32:22
  SPEAKER_00: Sit down with them, tell them who to call.
• 32:25
  SPEAKER_00: That one doesn't cost you a dime.
• 32:28
  SPEAKER_00: Here's another one that comes up a lot.
• 32:30
  SPEAKER_00: If I buy gold and silver, where do I actually keep it?
• 32:34
  SPEAKER_00: Can I keep it at home?
• 32:35
  SPEAKER_00: And a lot of times it's a husband and wife who don't quite agree.
• 32:38
  SPEAKER_00: One of them wants it in the house where they can see it.
• 32:41
  SPEAKER_00: The other one's thinking, what if somebody breaks in?
• 32:44
  SPEAKER_00: If that's your house, you're having the same conversation half the couples in America are having.
• 32:50
  SPEAKER_00: So, okay, first, if it's in an IRA, the metal has to be held by an approved depository.
• 32:56
  SPEAKER_00: That's the rule.
• 32:57
  SPEAKER_00: You can't keep IRA gold in your sock drawer, people ask.
• 33:02
  SPEAKER_00: But if you're buying with savings, it's yours.
• 33:05
  SPEAKER_00: You can take delivery.
• 33:06
  SPEAKER_00: And a lot of people keep some at home.
• 33:08
  SPEAKER_00: So let me put my cop hat on, because I walked into a lot of houses after a break-in.
• 33:13
  SPEAKER_00: Number one, don't tell people, not your buddies, not the guy at church, not your nephew.
• 33:19
  SPEAKER_00: Most of the burglaries I saw, somebody knew something.
• 33:23
  SPEAKER_00: Number two, get a real safe and have it bolted to the floor.
• 33:27
  SPEAKER_00: A burglar's got a few minutes.
• 33:29
  SPEAKER_00: If he can't carry it out, it's not worth his time.
• 33:32
  SPEAKER_00: Number three, call your homeowner's insurance and ask what's covered.
• 33:37
  SPEAKER_00: A lot of policies limit coins and precious metals, so you might need a rider.
• 33:42
  SPEAKER_00: Find out before, not after.
• 33:45
  SPEAKER_00: And a lot of folks split it, some at home, some in a depository.
• 33:49
  SPEAKER_00: One of you gets to see it, the other one gets to sleep at night.
• 33:52
  SPEAKER_00: Everybody wins.
• 33:53
  SPEAKER_00: When you call our team, ask them about delivery and storage options.
• 33:58
  SPEAKER_00: 888-991-6222.
• 34:03
  SPEAKER_00: You know that storage question gets at something I hear all the time.
• 34:07
  SPEAKER_00: Rich, if I put money into gold, can I actually get it back out?
• 34:11
  SPEAKER_00: Yeah, you can.
• 34:13
  SPEAKER_00: And I want you to really hear me on this because this is where a lot of folks get burned.
• 34:17
  SPEAKER_00: Some companies will sell you these fancy collector coins with a big markup.
• 34:22
  SPEAKER_00: They'll tell you a great story about them, limited edition, rare, whatever.
• 34:27
  SPEAKER_00: And then when you go to sell them back, surprise, they're worth a whole lot less than you paid.
• 34:34
  SPEAKER_00: That right there is the whole reason I got into this business.
• 34:37
  SPEAKER_00: So at Goldencrest, we stick to widely recognized coins, the kind any dealer in the country knows on site.
• 34:44
  SPEAKER_00: And there's no buyback fees, none.
• 34:47
  SPEAKER_00: When you want out, you sell back, no penalty.
• 34:50
  SPEAKER_00: Think about it like your house.
• 34:52
  SPEAKER_00: You don't buy a house hoping you can never sell it.
• 34:54
  SPEAKER_00: You buy one you know somebody's gonna want.
• 34:57
  SPEAKER_00: Same thing with your medals.
• 34:59
  SPEAKER_00: And we'll show you the pricing up front, what you're paying, what the spot price is, the whole thing.
• 35:04
  SPEAKER_00: If somebody won't show you that in writing before you buy, that tells you everything you need to know.
• 35:10
  SPEAKER_00: So here's what I want you to do: pick up the phone.
• 35:13
  SPEAKER_00: 888-991-6222.
• 35:18
  SPEAKER_00: Again, 888-991-6222.
• 35:24
  SPEAKER_00: Ask them to show you the pricing.
• 35:26
  SPEAKER_00: Ask them about the buyback.
• 35:27
  SPEAKER_00: Ask them anything.
• 35:28
  SPEAKER_00: Free portfolio review, free investor kit, and on qualifying purchases up to$25,000 in free silver.
• 35:37
  SPEAKER_00: Call for details and tell them Rich sent you.
• 35:41
  SPEAKER_00: Now I'm gonna do something you probably don't hear on a show like this.
• 35:45
  SPEAKER_00: I'm gonna tell you the questions to ask any gold company before you buy, including us, especially us.
• 35:53
  SPEAKER_00: Question one, what's the total cost all in?
• 35:58
  SPEAKER_00: The price of the metal, the markup, the fees, the storage.
• 36:02
  SPEAKER_00: You should be able to get that in plain English.
• 36:05
  SPEAKER_00: If somebody can't give you a straight answer, that tells you something.
• 36:09
  SPEAKER_00: Question two, if I want to sell it back someday, how does that work?
• 36:14
  SPEAKER_00: You want to know that before you buy, not after.
• 36:17
  SPEAKER_00: A good company will explain how they buy back and how it's priced.
• 36:21
  SPEAKER_00: Question three, who's holding my medal and is it in my name?
• 36:25
  SPEAKER_00: You want a real depository, insured.
• 36:28
  SPEAKER_00: Your medal, your name.
• 36:30
  SPEAKER_00: And question four, are you gonna pressure me?
• 36:34
  SPEAKER_00: Ask them straight out, then see how they answer.
• 36:37
  SPEAKER_00: We'll answer every one of those for you, happily.
• 36:40
  SPEAKER_00: That's what the free portfolio review is for.
• 36:43
  SPEAKER_00: 888-991-6222.
• 36:47
  SPEAKER_00: Again, eight eight eight nine none sixty two twenty two.
• 36:52
  SPEAKER_00: Tell them Rich sent you.
• 36:55
  SPEAKER_00: Okay, I promised you this one earlier.
• 36:57
  SPEAKER_00: Somebody goes to their bank to move some money over for gold.
• 37:01
  SPEAKER_00: And the teller or the branch manager says, Oh, you don't want to do that.
• 37:06
  SPEAKER_00: Gold's a scam.
• 37:08
  SPEAKER_00: We're gonna have to report this.
• 37:10
  SPEAKER_00: Let me put my old cop hat on for a second.
• 37:13
  SPEAKER_00: First, your bank asking questions about a big wire, that's actually a good thing.
• 37:18
  SPEAKER_00: Banks are supposed to watch for fraud.
• 37:21
  SPEAKER_00: My grandfather would still have his savings if somebody at his bank had asked him one more question.
• 37:26
  SPEAKER_00: So don't get mad at the question.
• 37:28
  SPEAKER_00: But asking questions is one thing.
• 37:30
  SPEAKER_00: Telling you that buying physical gold from a real established company is a scam, that's not fraud protection.
• 37:37
  SPEAKER_00: That's a bank that doesn't want the money to leave.
• 37:40
  SPEAKER_00: Every dollar that walks out that door is a dollar they're not using anymore.
• 37:44
  SPEAKER_00: So here's how you protect yourself.
• 37:46
  SPEAKER_00: And this goes for us or anybody else you're thinking about.
• 37:50
  SPEAKER_00: Five things.
• 37:51
  SPEAKER_00: One, can you look up the company?
• 37:54
  SPEAKER_00: Real address, real people, real reviews.
• 37:57
  SPEAKER_00: Not a website that went up last month.
• 37:59
  SPEAKER_00: Two, do they tell you in writing what you're paying over the spot price?
• 38:04
  SPEAKER_00: If they won't, walk away.
• 38:06
  SPEAKER_00: Three, what happens when you want to sell it back?
• 38:09
  SPEAKER_00: Are there fees?
• 38:10
  SPEAKER_00: At Goldencrest, there's no buyback fees.
• 38:12
  SPEAKER_00: Ask anybody you're talking to that same question.
• 38:15
  SPEAKER_00: Four, what are you actually buying?
• 38:18
  SPEAKER_00: Stick to widely recognized coins and bars.
• 38:21
  SPEAKER_00: If somebody's pushing some rare collector coin with a story attached, be careful.
• 38:26
  SPEAKER_00: And five, are they rushing you?
• 38:29
  SPEAKER_00: A real company gives you time.
• 38:31
  SPEAKER_00: Take the investor kit home, read it, talk to your kids, talk to your tax person.
• 38:36
  SPEAKER_00: If somebody says it has to be right now, hang up.
• 38:39
  SPEAKER_00: That's what I learned on the job.
• 38:41
  SPEAKER_00: The scammers always need you to hurry.
• 38:43
  SPEAKER_00: The honest people never do.
• 38:45
  SPEAKER_00: So if you want to start the right way, text the word report to 638-257.
• 38:51
  SPEAKER_00: That's report to 638-257.
• 38:54
  SPEAKER_00: We'll send you the free investor kit.
• 38:56
  SPEAKER_00: Read it on your own time.
• 38:58
  SPEAKER_00: And when you're ready, call 888-991-6222.
• 39:03
  SPEAKER_00: Again, 888-991-6222.
• 39:09
  SPEAKER_00: And let me be straight with you about what gold won't do, because I think you deserve both sides.
• 39:15
  SPEAKER_00: Gold doesn't pay a dividend.
• 39:17
  SPEAKER_00: It doesn't pay interest.
• 39:18
  SPEAKER_00: It goes up and it goes down.
• 39:20
  SPEAKER_00: We just watched it come off its highs, and it can do that again.
• 39:24
  SPEAKER_00: Anybody who tells you gold only goes up, walk away.
• 39:27
  SPEAKER_00: You can never guarantee a return to anyone on anything.
• 39:30
  SPEAKER_00: I've said that my whole career and I'll keep saying it.
• 39:33
  SPEAKER_00: So why own it at all?
• 39:34
  SPEAKER_00: Because that's not its job.
• 39:36
  SPEAKER_00: Its job isn't to make you rich.
• 39:38
  SPEAKER_00: Its job is to be there when the other stuff isn't doing so great, to hold its value when paper is losing its value.
• 39:44
  SPEAKER_00: When stocks are flying, gold can feel boring.
• 39:47
  SPEAKER_00: And I'm fine with boring.
• 39:49
  SPEAKER_00: Boring is what you want in the part of your money you can't afford to lose.
• 39:53
  SPEAKER_00: So if what you're looking for is a lottery ticket, I'm not your guy.
• 39:57
  SPEAKER_00: But if you want a little more peace of mind and a piece of your savings you can actually hold, then let's talk.
• 40:03
  SPEAKER_00: 888-991-6222, myfreegoldinfo.com, or text report to 638-257.
• 40:15
  SPEAKER_00: Now here's a question I really respect.
• 40:18
  SPEAKER_00: Even though people almost apologize when they ask it, what happens to my gold when I'm gone?
• 40:24
  SPEAKER_00: If I put part of my IRA into gold, do my kids have to sell it?
• 40:28
  SPEAKER_00: Is it going to be a big mess for them?
• 40:31
  SPEAKER_00: And folks will say, I know, it's a little morbid.
• 40:34
  SPEAKER_00: It's not.
• 40:35
  SPEAKER_00: That's one of the smartest questions there is.
• 40:38
  SPEAKER_00: Most people don't think about it till it's too late, and then the kids are stuck figuring it out.
• 40:43
  SPEAKER_00: So the simple version: a precious metals IRA has beneficiaries, just like any other IRA.
• 40:49
  SPEAKER_00: You name who gets it.
• 40:51
  SPEAKER_00: When the time comes, your kids can generally choose to keep the metal, take it out, or sell it.
• 40:56
  SPEAKER_00: But how that works for taxes and timelines, those rules are specific.
• 41:01
  SPEAKER_00: And that's a conversation for your specialist and your tax advisor or a state attorney.
• 41:06
  SPEAKER_00: I'm not going to guess on that one on the radio.
• 41:08
  SPEAKER_00: But here's what I tell my own mom: make it easy for them.
• 41:12
  SPEAKER_00: Write it down.
• 41:14
  SPEAKER_00: Where it is, who the custodian is, who to call.
• 41:18
  SPEAKER_00: Put it in the same folder as your will.
• 41:20
  SPEAKER_00: Because the worst thing isn't the taxes.
• 41:23
  SPEAKER_00: The worst thing is your kids at the hardest moment of their lives trying to figure out what you had and where it is.
• 41:29
  SPEAKER_00: And a lot of the people who asked this have already lived it.
• 41:33
  SPEAKER_00: They went through it when their own mom or dad passed, and it was a mess.
• 41:36
  SPEAKER_00: So they already know that's exactly why they're asking.
• 41:40
  SPEAKER_00: And while you're at it, check the beneficiaries on every account you've got, not just the gold.
• 41:46
  SPEAKER_00: You'd be amazed how many people still have an ex-spouse listed on an old 401k.
• 41:52
  SPEAKER_00: It takes 10 minutes.
• 41:53
  SPEAKER_00: So if you want to make it easy for your family, 888-991-6222.
• 42:00
  SPEAKER_00: Again, 888-991-6222.
• 42:06
  SPEAKER_00: You know, I want to say something you probably don't hear on a lot of these shows.
• 42:11
  SPEAKER_00: Gold isn't for everybody.
• 42:12
  SPEAKER_00: I mean it.
• 42:13
  SPEAKER_00: If you need every dollar growing fast, if you're 35 and you want to swing for the fences, gold's probably not your thing.
• 42:22
  SPEAKER_00: It doesn't pay a dividend, it's not a lottery ticket.
• 42:25
  SPEAKER_00: And if somebody tells you to put everything you've got into gold, that's not advice.
• 42:30
  SPEAKER_00: That's a sales pitch.
• 42:32
  SPEAKER_00: But if you're the person I've been talking to this whole show, you worked 30, 40 years, you saved, you did it the right way, and now you're closer to the end of your working years than the beginning, and you just want to know that some of it's going to be there, then it's worth a conversation.
• 42:48
  SPEAKER_00: That's all I'm asking.
• 42:50
  SPEAKER_00: A conversation.
• 42:51
  SPEAKER_00: And if our team looks at what you've got and says gold doesn't make sense for you, they'll tell you, I'd rather you hang up happy and never buy a thing than buy something that's wrong for you.
• 43:02
  SPEAKER_00: Because that's not how I'd want my grandfather treated.
• 43:04
  SPEAKER_00: And it's not how I'm going to treat you.
• 43:07
  SPEAKER_00: And let me make it easy for you.
• 43:09
  SPEAKER_00: When you call, here's what to have handy.
• 43:12
  SPEAKER_00: Doesn't have to be perfect, just grab what you've got.
• 43:15
  SPEAKER_00: Your most recent statements, your 401k, your IRA, whatever you've got, even just the last page with the balance, a rough idea of when you want to retire, or if you already have.
• 43:27
  SPEAKER_00: And the one thing that keeps you up at night about your money.
• 43:30
  SPEAKER_00: That last one's the most important, because that's what we're really going to talk about.
• 43:34
  SPEAKER_00: And if you'd rather have your son or your daughter on the line with you, bring them.
• 43:39
  SPEAKER_00: I love that.
• 43:40
  SPEAKER_00: Seriously.
• 43:40
  SPEAKER_00: The best calls we get are the ones where the whole family's in on it.
• 43:44
  SPEAKER_00: Nobody gets surprised later.
• 43:47
  SPEAKER_00: And look, you don't need to have it all figured out before you call.
• 43:50
  SPEAKER_00: Most people don't.
• 43:51
  SPEAKER_00: Honestly, that's kind of the whole point of the call.
• 43:54
  SPEAKER_00: You bring the questions, we'll help you sort out the answers.
• 43:57
  SPEAKER_00: And if the answer is not right now, That's okay too.
• 44:01
  SPEAKER_00: Nobody's gonna push you.
• 44:02
  SPEAKER_00: That's just not how we do it.
• 44:05
  SPEAKER_00: Alright, let me run through it one more time, real quick, in case you missed anything.
• 44:08
  SPEAKER_00: Reuters and Kitco, gold edged up on worries about U.S.
• 44:12
  SPEAKER_00: government debt.
• 44:13
  SPEAKER_00: CNBC, gold around 41.56.
• 44:17
  SPEAKER_00: Bank of America says it could dip toward 37.50.
• 44:20
  SPEAKER_00: Goldman's year-end target around 4,900.
• 44:24
  SPEAKER_00: Nobody agrees.
• 44:25
  SPEAKER_00: The World Gold Council, central banks bought 39 tons in August.
• 44:30
  SPEAKER_00: China 20 by itself.
• 44:32
  SPEAKER_00: Poland 98 this year.
• 44:34
  SPEAKER_00: Deutsche Bank, silver's shortage could flip to a surplus in 2027.
• 44:38
  SPEAKER_00: Investing.com, maybe not, because copper ore is getting tight.
• 44:43
  SPEAKER_00: CNBC and Al Jazeera.
• 44:45
  SPEAKER_00: Iran stepping up attacks in the Strait of Hormuz.
• 44:48
  SPEAKER_00: Brent crude still near 100.
• 44:50
  SPEAKER_00: The Motley Fool.
• 44:51
  SPEAKER_00: The White House and the Fed pulling in opposite directions.
• 44:54
  SPEAKER_00: USA Today.
• 44:55
  SPEAKER_00: The Social Security raise gets set October 14th.
• 44:59
  SPEAKER_00: Expected around 3.4%.
• 45:01
  SPEAKER_00: And 24-7 Wall Street and Forbes.
• 45:04
  SPEAKER_00: Your RMD deadline is December 31st, and missing it can cost you 25%.
• 45:10
  SPEAKER_00: Mark that one on the calendar.
• 45:11
  SPEAKER_00: Seriously.
• 45:12
  SPEAKER_00: And here's what I'd tell my own family this week.
• 45:15
  SPEAKER_00: One, get your accounts on one piece of paper.
• 45:18
  SPEAKER_00: Two, know your RMD date.
• 45:21
  SPEAKER_00: Three, ask somebody to explain all your options, not just the ones they sell.
• 45:27
  SPEAKER_00: And four, write it down for your kids.
• 45:31
  SPEAKER_00: And before I let you go, one last thing.
• 45:34
  SPEAKER_00: I know it's not easy to pick up the phone about your money.
• 45:37
  SPEAKER_00: It feels personal because it is personal.
• 45:40
  SPEAKER_00: That's your whole working life sitting in that account.
• 45:43
  SPEAKER_00: Every early morning, every overtime shift, every time you said no to something, so you could put a little more away.
• 45:50
  SPEAKER_00: So I'm not going to rush you.
• 45:52
  SPEAKER_00: Nobody on my team is going to rush you.
• 45:54
  SPEAKER_00: But I'd hate for you to be one of those people who meant to look at it and just never got around to it.
• 45:59
  SPEAKER_00: Like my grandfather.
• 46:01
  SPEAKER_00: Don't let that be you.
• 46:03
  SPEAKER_00: Make the call, even if it's just to ask a question.
• 46:07
  SPEAKER_00: And if you want help with any of it, pick up the phone.
• 46:10
  SPEAKER_00: 888-991-6222.
• 46:15
  SPEAKER_00: Again, 888-991-6222.
• 46:21
  SPEAKER_00: Or text report to 638-257.
• 46:26
  SPEAKER_00: Or go to myfregoldinfo.com.
• 46:29
  SPEAKER_00: That's myfregoldinfo.com.
• 46:33
  SPEAKER_00: Free portfolio review, free investor kit, and on qualifying purchases, up to$25,000 in free silver.
• 46:41
  SPEAKER_00: Call for details.
• 46:43
  SPEAKER_00: And when you call, tell them Rich sent you.
• 46:45
  SPEAKER_00: Thanks for all the questions this week.
• 46:47
  SPEAKER_00: Keep them coming.
• 46:48
  SPEAKER_00: That's what this show's for.
• 46:50
  SPEAKER_00: All right, I'm Rich Jacoby.
• 46:51
  SPEAKER_00: This is the Crest Report.
• 46:53
  SPEAKER_00: Let's take care of what you've built.
• 46:54
  SPEAKER_01: See you next week.com.
• 47:21
  SPEAKER_01: See you next week.