An IRA is a great way to plan for your retirement. There are many benefits, and one of them is that you get to turn some of it into gold. Diversifying your portfolio is always a good idea, especially if you have other investments. Gold prices rise as the value of the dollar decreases, giving your retirement protection during uncertain economic times such as these. If you have an IRA and are considering investing in gold with it, keep reading to learn more about Precious Metals IRAs.
What is a Precious Metals IRA?
According to Forbes, a precious metal IRA is a special form of self-directed individual retirement account. Self-directed IRAs allow you to invest in a broad variety of unconventional assets, including precious metals, real estate, and even cryptocurrency. These are beyond the usual options available in a conventional IRA, though they have virtually identical traits outside of this, including the same contribution limits.
By rolling over your IRA, 401(k), 403, TSP, or 457 Plan into our Precious Metal IRA Account, you can achieve the same profits that you would gain by purchasing gold or silver directly while also enjoying the benefits that your retirement account provides. There are many tax benefits of an IRA account, and adding precious metals to your portfolio will give you peace of mind that it is protected for the long term.
Is It Difficult to Get a Precious Metals IRA?
Setting up a Precious Metals IRA or rolling over your current IRA account is easy. At Priority Gold, we can help you in just a few easy steps. We have a proven four-step process that makes opening a precious metals IRA easy, and we guarantee you the highest caliber customer service. Our IRA specialists will answer all of your questions, work with your current custodians to ensure a seamless transition, provide you with a free metal evaluation, and continually help you to review your portfolio.
Step #1: Account Holder Information
Step #2: Beneficiary Designation
Step #3: Source of Funds
Step #4: Transfer Instructions
What are the Rules of a Precious Metals IRA?
If you’re ready to invest in a Precious Metals IRA, it is essential to know some particular rules. In order for it to be part of an IRA, you need to follow some crucial steps in order to avoid penalties. These include choosing a custodian, deciding what to invest in, and choosing a depository.
Choose a Custodian
Self-directed precious metals IRAs allow you to invest in gold and silver so you can better diversify your investment portfolio, which can be crucial protection during turbulent financial markets. Your self-directed IRA is held by a custodian, such as the ones we work with at Priority Gold. Custodians can be banks, trust companies, or other entities approved by the IRS.
Custodians are who will be holding your assets, and need to be approved by the IRS in order to do so. A good custodian will give you a wide variety of things to invest in, great customer service, and transparent fees. Priority Gold is here to help you find everything you need for your IRA.
Decide What to Invest In
With precious metal IRAs, you can invest in gold, silver, platinum, or palladium, according to Forbes. That said, you can’t invest in just any gold, silver, platinum, or palladium. The IRS has specific standards your precious metals have to meet:
- Gold must be 99.5% pure
- Silver must be 99.9% pure
- Platinum must be 99.95% pure
- Palladium must be 99.95% pure
Gold and silver are two of the world’s most desired commodities and are the only assets that are universally accepted payment standards. Gold and silver also allow their owners to acquire currency anywhere globally, making these metals versatile regardless of location.
Choose a Depository
The funny part about investing in gold with your IRA is that you cannot store precious metals for your IRA yourself, and there is a likelihood you may never physically see the gold you own. This is because precious metals that are part of an IRA must be stored in an approved depository. Priority Gold can recommend one for you, or you can pick one of your choosing as long as it meets the IRS’s requirements.
About Priority Gold
Finding out where to start when it comes to investing in gold with your Roth IRA can be overwhelming, especially if you have little-to-no knowledge or experience when it comes to investing in gold. Luckily, Priority Gold is your one-stop-shop for all things gold. We are one of the most trusted precious metals dealers in the United States with BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink.
We specialize in providing precious metals investment services with Security, Liability, and Great Convenience for customers. Our team is committed to helping streamline their precious metals purchases at a fair price, selecting the suitable precious metals portfolios, and meeting their important financial objectives.
We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. Priority Gold guarantees the highest customer service standards, which come with honesty, professional conduct, and the Ethical Code of Business.
For more information, visit us at prioritygold.com