Protect Your Retirement Account With This IRS Loophole in 2021
The Coronavirus pandemic of the past year and a half has taught us many things, including how fragile life can be, how important family time and self-care are, and how essential financial planning is. You never know when the next pandemic, natural disaster, or economic recession will hit, which makes protecting your retirement account more important than ever. No matter what strikes next, gold will make sure you’re protected. Keep reading to learn more about how to protect your retirement account with this IRS loophole in 2021.
The IRS loophole that will protect your retirement account is none other than beautiful, shiny gold. That’s right — this precious metal will be your golden ticket to retirement if you invest in it right.
There are many reasons gold investment protects your savings, including:
- Holds its value. In gold’s 6,000+ year history, it has never been worth zero. It doesn’t corrode and it doesn’t dissolve, yet it is moldable when melted and has great malleability, making it the perfect metal for currency.
- Hedge against inflation. As the cost of living naturally increases over the years, so does the price of gold. The price of gold tends to soar as currency loses value. This means by the time you’re ready to retire, your gold will be worth the same relative to the growth of inflation (or more).
- Always in demand. Who doesn’t love gold? People will always want gold, keeping it in high demand. With low supply and high demand, gold is always valuable. There is only so much gold in the world, and very little new gold is introduced every year.
- Diversification. The key to diversifying your portfolio is investing in separate things that have little to nothing to do with each other. Gold is the perfect diversifier because it tends to do the opposite of whatever the stock market is doing, keeping your portfolio secure. If you have investments in stocks or the real estate market, a gold investment account would protect your savings should those investments drop in another recession.
There are many ways to invest in gold, but the best way to invest in gold for your retirement is with a Gold IRA. This is because:
- You don’t need any special skills or knowledge. Unlike investing in real estate, the stock market, or businesses, investing in gold takes very little skills or knowledge. You are limited only by how much you want to get, and the dealer will handle the rest.
- Great tax benefits. Contributions made to traditional self-directed IRAs are tax-deductible, and qualified withdrawals from Roth accounts are tax-free.
- You have the control. You make all the decisions when it comes to your IRA account because gold IRAs are always self-directed.
- Buy it and “forget” it. Unlike other investments, you don’t need to do much of anything after you buy it. All you have to do is let it sit for decades (or add more of it!) until you are ready to retire. This makes it an ideal long-term holding — perfect for a retirement option. While there are fees (such as custodian fees, storage fees, and cash-out fees), gold accounts require very little maintenance.
How to Get Started
There are many ways to invest in gold but, when it comes to a gold IRA, there are a couple of different ways you can go about getting started, including:
- Rollover your existing IRA. If you already have an existing IRA or 401k, you can easily roll it over to a gold IRA. By rolling over, you can diversify and protect your portfolio while not worrying about any tax implications, but also maintaining preferential tax treatment. You can rollover some of it or all of it — it’s up to you.
- Find a custodian and approved depository. Custodians are usually banks, trust companies, credit unions, brokerage firms, or savings and loan associations that have been approved by federal and/or state agencies to provide asset custody services to individual investors and financial advisors. In addition, the gold must be stored in an approved depository — not just under your mattress!
About Priority Gold
Diversifying your portfolio is easy. The next time a pandemic or economic disaster hits, don’t go through the same anxiety you experienced in 2020 regarding the safety of your savings account. We can help you roll over your existing IRA or set up a brand new account from scratch — whatever your needs are, we can help you.
Priority Gold is 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 to streamline their precious metals purchases at a fair price, selecting the right 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. And gold shows up on schedule. Priority Gold guarantees the highest standards of customer service, which comes with honesty, professional conduct, and the Ethical Code of Business.
For more information, visit us at prioritygold.com