Imagine placing your retirement nest savings into something non-blinking when the stock market rebels. People gravitate toward an gold silver backed IRA for this reason. It’s like stuffing your savings into a bunker instead of a hammock swinging in the breeze.

This is not a get-rich-quick gig. It resembles the slow cooker of financial preservation more precisely. Precious metals are more the peaceful neighbor who never throws wild parties but always pays her bills early than they promise pyrotechnics.

How then does this thing really work? You are essentially rolling some of your current retirement account into one containing actual gold or silver. Not paper promises. We are discussing actual bars, actual coins, vault sitting. Still, you are unable to keep it under your bed. There are policies set by IRS. And they hardly smile on gold under mattresses.

You have to deal with a custodian—someone with law-abiding knowledge and experience. Consider them as the IRA intersection traffic police officer. You most likely will get T-boned by a tax penalty without them.

Indeed, there is a dance engaged. Saying, “Hey, gimme some silver eagles,” is not enough. Forms, calls, and often a little bit of hand-holding abound. You are already ahead of the game, though, if you find a supplier who really picks up the phone and responds like a human, not a robot.

Take note of storage. Some choices group your metals with others. Some let you a private vault corner. You will want clarification from here. Do not presume anything. Find out what gets written on the box—yours or a generic label.

Pay close attention to fees as well. They can ambush you like late-night infomercials. Setup costs. Every year maintenance. Store. Not even transfer expenses. Good businesses do not hide this material. They will present it much as a lunch menu.

Silver aficionados should be aware that it occupies more room than gold. More metal; more weight; more storage. Higher costs can follow from this. Still, buying smaller bits of silver is also more convenient. That would therefore be suitable if you intend to dip your toe rather than plunge in.

Finally, resist the allusions to glitter. Any website that shouts “limited time only!,” in large red type, is most likely more interested in your money than in your retirement. Stay with translucent, monochromatic, and plain. Though neither is losing half your savings to someone’s yacht fund nor is it sexy.

Bottom line: although it might help you sleep through the next financial storm without embracing a pillow full of regrets, a gold and silver-backed IRA will not transform your retirement into a fairytale.