If you are like most informed investors, you have heard about Gold IRAs. We believe Gold IRAs are one of the best ways to acquire asset towards your retirement. The way Gold IRAs are structured ensues that the Gold will hold its value far better than paper investments. Gold is something you can hold and feel. However, before rolling over your current IRA, you would want to do your do diligence. This way you will understand what a Gold IRA is, and what to expect when you invest in one.
What is a Gold IRA?
A Gold IRA, simply put is an IRA where you are investing in Gold. It will be either in the form of Gold coins or Gold bars. You chose how much to invest and when to invest. Most people that have a Gold IRA usually keep their gold in secure depository.
How to Buy Gold in your IRA?
Buying gold for your IRA is different from buying gold coins or bars for collecting. When your want to purchase for your Gold IRA, you give your Gold Representative call with the company of your choice and speak to an account executive about which precious metals to purchase, once the money clears it ships to a secure depository under your name.
How to Roll Over to a Gold IRA?
Rolling over to a Gold IRA is easy, especially if you have an IRA through your employer. It is as simply as filling out some paperwork. If you are starting from a non- employer IRA, the company you are working with, will help with getting and filling out the proper paperwork. Most Gold IRA companies will help you in determining which coins and precious metals to include. These companies will make sure your purchase complies with all tax rules, government, and IRS regulations so that the transfer is tax-free. Once the money is rolled over from your old account to your new current Gold IRA account, you will have the certainty that you are in charge.
What is a Self Directed IRA?
In order to hold gold in an IRA, you need to create a self directed IRA. Unlike a regular IRA that has restrictions on what type of investments you may use. Most Ira do not permit the holding of gold, silver, or other precious metals. When you create a self directed IRA account to hold precious metals, you also have the advantage to specify how much and how often to purchase your precious metals.
Can I Convert a Roth IRA and a 401k to a Gola IRA?
The answer to both is yes! Most people are not aware that you can roll a 401k from a former employer into a Gold IRA without incurring penalties. You can also convert your Roth IRA to a Gold IRA without incurring penalties or other tax consequences. To do this, you and a custodian would need to first set up a self directed Gold IRA with the company of your choice.
What Kind of Coins can I Hold in my Gold IRA?
You can only hold coins in your Gold IRA that are approved by the IRS and the Federal Government. In order for a coin to be approved, it must be 99.95% pure or better. This is to ensure that all the gold in your IRA will have the same value. Numismatic coins that are certified and graded cannot be held in a Gold IRA.
Where is the Gold Stored in a Gold IRA?
There is two types of storage in a Gold IRA. A non-segregated storage is when your assets are mixed with the assets of others. Then you have segregated storage, this is when your assets are held separately from other people assets. A good Gold IRA dealer will have a secure depository they use for their clients.
Where to Get Started
There are two companies that we can recommend setting up your Gold IRA at this time. The first is RC Bullion rated as a Five Star Company. And the other company is Monetary Gold, rated the #1 Gold IRA company in the U.S.
Precious Metals Investing, Secure Gold & Silver IRA Account