Angie
Beware
In early 2025, my husband heard Kenny Michaels on the radio advertising Reagan Gold Group and promoting precious metals as the safest place to invest our retirement savings. He warned that the stock market was going to crash and strongly encouraged investing in gold and silver. Based on those representations, I rolled over $80,000 into a precious metals IRA with Reagan Gold Group, believing it was a sound and secure financial decision. Over the following months, Kenny regularly called us with updates, telling us that our investment had doubled in value. He even provided what he said were the current values of our holdings, which gave us confidence that our retirement savings were growing. A few months ago, we were surprised to learn that Kenny was no longer with Reagan Gold Group. We contacted the company and were assigned a new representative. When I received my next account statement, I immediately noticed that the account value was nowhere near what Kenny had previously reported. Then, when I received my June statement, I discovered that my account had lost more than $9,000. This was devastating, considering this is money I worked more than 20 years to save. I called my representative at Reagan Gold Group to ask for an explanation. I was told that the value of gold and silver had declined over the past six months due to geopolitical events, including the conflict involving Iran. However, that explanation raised more questions than answers. If my investment had supposedly been performing so well previously, how had I ended up losing a significant portion of my own money? I was then told that the loss was also related to "fees." When I asked what fees, I was only aware of the annual maintenance fee. No one had clearly explained that there were additional fees that could have such a significant impact on my investment. I reviewed the contract, which is printed in very small type, and I could not find a clear explanation of these additional charges. Based on my experience with Reagan Gold Group, I encourage anyone considering investing in precious metals to carefully research the investment, ask detailed questions about all fees and costs, and fully understand how those fees can affect the value of your retirement savings before making a decision. No one should invest their hard-earned retirement savings without having a complete understanding of the risks, pricing, and all associated fees.




