Why Buy A Gold IRA: An Introduction
A gold IRA or precious metals IRA is an Individual Retirement Account (IRA) or other retirement types in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. There is no difference in the way it functions than a regular IRA. The only tangible difference is instead of holding paper assets (money), you hold physical bullion coins or bars (precious metals). But the benefits are huge, and we’re going to give you a step-by-step process to follow, so you can start taking advantages of including precious metals into your retirement.
“Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account. Gold self-directed IRAs can include other types of retirement accounts such as, Roth IRAs, SEP IRA, SIMPLE IRA, HSA, Thrift Savings Plan (TSP), and 401(k)s, to name a few.” ~ Wikipedia
A Gold IRA is a type of retirement investment account that has come to the forefront in recent years. And why not? Gold provides the diversification and consistent ROI over the past few years. These special forms of IRA retirement vehicles are actually self directed IRAs that are meant to hold physical gold coins and bars.
Thanks to the recent IRS rules and regulations, you are now able to own high-purity gold and the other precious metals in their tangible form in such accounts. This provides you with a great opportunity to physically invest in gold, silver, platinum, and palladium in a way that is safe, convenient, and tax efficient so that you can hedge your retirement assets against the uncertain economic and geopolitical landscape we live in. This type of gold IRA can be just what the doctor ordered to give you and your family all of the security you need for the uncertain future.
Benefits of Gold IRA Accounts
Thankfully any individual is now able to safely and easily invest in gold today because of these self directed IRA accounts. Investing in precious metals is no longer restricted to only the rich and famous, due in large part to these accounts. The caveat is that it requires the special type of IRA vehicle in order to hold physical gold and the precious metals. There are several strong advantages to having such a retirement portfolio and account.
Probably the greatest single reason to inventory gold within your self directed IRA is because the precious metals are the smartest and easiest means of protecting your retirement and other assets against the ravages of inflation and other manifestations of economic chaos. As money gets inflated away by the meddling government, it decreases in value. This even reaches the ultimate value of your other traditional forms of investments.
The investments which historically do not decrease in intrinsic value nor suffer at the hands of inflation whatsoever are gold and the other precious metals. This asset class increases in value as the economy suffers and the American dollar declines over time. This is why you should consider adding gold to your retirement plans in order to hedge their value against deterioration. Because the long term trend of gold is up, it makes great sense to factor it into your retirement assets.
Efficient Tax Treatment
The tax treatment of money invested in gold within a Gold IRA should not be underestimated. There are no unfortunate tax consequences or hard requirements of declaring precious metals from the IRA to the IRS (since they are already aware of it). You also will not suffer any tax problems or penalties should you later decide to transfer your Gold IRA assets to another approved investment or retirement plan down the road.
So if you have been wondering how to protect your wealth and retirement savings in today’s uncertain economic state, you’ve come to the right place. We believe that gold (and other bullion metals) is one of the best types of investment you can make today as part of a well-diversified portfolio. Moreover, we launched this website to highlight the fact that one of the safest and most efficient ways Americans can invest in physical bullion metals while saving on tax is to convert part of their IRA, 401(k), and many other types of
We are going to break down one barrier by identifying the steps to take on how to buy gold IRA.
You can choose to invest a portion of your retirement in gold through an individual retirement account. And once you determine the type of IRA, and how you want to invest in gold, you can invest up to your yearly maximum at any time during the tax year.
It is recommended that you invest only a portion of your total retirement in gold; no more than 10% to 20% of your investment portfolio should be to physical precious metals.
TIP: If you are concerned about the devaluation of paper currency in a governmental de-stabilization scenario, investments in gold bullion or coins might be appropriate and more easily handled through a self-directed IRA trustee.
Regardless of the direction you take, gold should be considered as an investment vehicle that will produce more revenue while adding an element of stability to your portfolio.
So in summary, with an traditional or Roth IRA (individual retirement account), and others, you stash your savings in the form of stocks, bonds or mutual funds. With a gold IRA, however, you hold literal gold in the form of coins, bullion or bars. You can own other precious metals like silver, platinum and palladium in your gold IRA, as well.
You could also choose to invest in other gold-related options. These include stock in gold mining companies, precious metals mutual funds, precious metals commodity futures or Exchange Traded Funds (ETF).
When it comes to IRA contributions, disbursements and taxes, Gold IRAs follow the same rules and procedures as other IRAs.