ELI5: Explain Like I'm 5

Gold IRA

Okay kiddo, let's talk about gold IRA.

First of all, do you know what an IRA is? It's a special kind of savings account that helps people save up for their retirement. People put money into their IRA account and it grows over time.

Now, some people choose to put their IRA savings into gold. Gold is a shiny, yellow metal that people have been using for thousands of years as a form of money or payment.

Putting your IRA savings into gold is called a gold IRA. It's a way to help protect your retirement savings in case of inflation or other economic problems.

When you put your IRA savings into gold, a special company will help you buy and store the gold. They will keep it safe for you until you are ready to retire and use it to pay for things you need.

So, a gold IRA is a way to save for your retirement using gold instead of just regular money. It can be a good option for people who want to protect their savings from economic problems.