You are visiting this website because you realize the value of opening a gold IRA account, and you need more information. Like all intelligent future retirees, you’ve decided to look into precious metals investing in adding diversity to your portfolio.
Opening a gold IRA is similar to other individual retirement accounts, but there is one difference. You can invest in precious metals in physical form. You can own and hold palladium, silver, platinum, and gold.
Portfolio diversity is more important than ever before. The world economy is in shambles, and the US economy is in trouble with the current administration driving inflation through the roof. Buying precious metals investments like gold, platinum, palladium, and silver will help offset inflation’s ravages.
This account is very similar to a Roth or traditional IRA. They follow the same contribution limits and distribution rules, which makes them easy to understand.
Are you ready to begin your retirement journey with gold IRA investing? Discover the top gold IRA companies in business today before you begin.
4 Gold IRA takeaways to consider
- Traditional and Roth self-directed IRA accounts have contribution limits that get capped by the IRS.
- Storage fees and purchasing markups are usually higher for gold IRA accounts when compared to traditional or Roth IRAs.
- Account holders of a gold IRA account can purchase physical coins, bars, and rounds made of gold, silver, platinum, and palladium to grow their wealth for retirement. This isn’t possible in other retirement accounts.
- Gold IRA accounts include self-directed traditional IRAs funded with pretax dollars and self-directed Roth IRAs funded with after-tax dollars.
How to open a gold IRA the quick and easy way?
As you begin opening your new gold IRA account, you should feel relaxed, comfortable, and entirely at ease. I’d like to help facilitate this process and the good feelings that should accompany it by providing a step-by-step guide to help you open your new account.
The 3-step process includes the following:
1: Choosing the perfect gold IRA broker
You’re likely looking for a high-quality gold IRA broker in this case. I recommend some of my favorites. These companies will help you create your new account, fund it, and more.
Remember, not every gold company offers IRA Investing services. The companies below are my favorite choices and preferred companies that I love to recommend. They include the following:
- Goldco
- Augusta Precious Metals
- Regal Assets
- Birch Gold
- Advantage Gold
I recommend these companies because they are the best and brightest in the industry. They offer affordable markups, low rates and fees, excellent customer service, and a wonderful experience for brand-new gold IRA account holders.
Do you prefer to check out some more recommendations? I’d like to share the names of other companies that are also considered some of the best and brightest in the business. They include:
- Oxford Gold Group
- com
- American Hartford Gold
- Patriot Gold Group
- APMEX
- Cornerstone Bullion
- Lear Capital
- Gold Alliance
2: Opening a new Gold IRA from start to finish
Now that you’ve chosen your gold IRA Company to work with, it’s time to begin taking the second step. From here, you will go to your gold dealer of choice’s website and consider your options.
Typically, you can begin the account creation process by using the following choices that include:
- Finding the online form on their website, filling out, and sending it to a qualified customer representative
- Finding their phone number on their website, calling, speaking to a representative, and taking the next steps that they tell you to take
Filling out the online form is usually the quickest and easiest way to begin. It gets the process started immediately, and when you fill out the form, you have already begun filling out the paperwork.
You’d benefit from calling the gold dealer directly. You can call the company, ask questions, and be put at ease by a qualified company representative. This representative will also help you create your new gold IRA account.
3: Funding your new precious metals IRA account
Funding your new account is relatively easy to accomplish. You’ll do so by starting a gold IRA transfer or gold IRA rollover. The differences between the two processes include the following:
- Transfer – A transfer takes place between one custodian to another. The custodian of your current IRA account will transfer the money directly to your new custodian, who will deposit it into your brand-new account.
- Rollover – Moving funds from one retirement account into your new gold IRA account. The administrator of your existing account will distribute the money directly to you. You have 60 days to deposit the funds into your new gold IRA account. If you fail, you’ll be subject to early withdrawal penalties and tax.
The biggest gold IRA benefits
- Adding investment diversity to a portfolio – Investing in precious physical metals will hedge against inflation, tough economic times, and other potential negative downturns. Physical precious metals are very different and diversified from other investment vehicles.
- Significant tax bonuses – the tax incentives of opening a traditional or Roth self-directed IRA account are tremendous. You’ll fund the account with pre-tax dollars or after-tax dollars, which both provide the benefits.
- Liquidity is never an issue – some investors worry that they won’t be able to sell their investments due to a lack of liquidity. This is never a problem with precious metals because it’s a huge market with plenty of buyers.
Final wrap-up
It’s a good idea to open a gold IRA. You know it, and I know it because the benefits are tremendous, it’s easy to do, and creating a new account is simpler than ever.
Can you get started sooner rather than later? Read through my recommendations again and choose a gold broker right now.
