Considering a Gold IRA Rollover

At the moment the United States market is facing unprecedented uncertainty and volatility, which scares even the most experienced investors. The U.S. National Debt is proof of this – it has now reached about $17 trillion, and is continuing to spiral out of control. Experts are predicting that the U.S. dollar has the potential of coming to an end. This has led to a great number of investors fearing for their financial security. Many are reviewing other investment options, and one that has garnered much-deserved attention and interest is gold IRA.

Let’s discuss gold IRA in the hopes of helping both old and new investors out there understand the gravity of the situation that the U.S. market is currently facing. Paper-based investments, while they definitely can bring in huge profits, are not such great choices in this type situation. Gold and other precious metal IRAs, on the other hand, can provide investors with the security they need, which is why such assets should be considered.

A Brief Overview on Gold IRA investments

Basically, a gold backed IRA is one of the best ways to leverage your investment portfolio over the long term. Gold has historically proven itself stable to protect and hedge any retirement investment portfolio, and it is easy to set up. To help you understand Gold IRA investments further, here are some of the most common questions asked about it as well as a brief answer for each.

What is a gold IRA?

Gold IRA is a self directed individual retirement account (IRA) in compliance with all rules and regulations set by the Internal Revenue Service (IRS). The IRS allows the inclusion of physical gold in these accounts. So in other words, retirees can invest in gold (as well as other precious metals) so that they can protect their financial future.

What are the other types of precious metals that can be included in IRAs?

In addition to gold, IRAs can also be included with silver, palladium, and platinum.

Are there any specific types of gold and precious metals that can be included in an IRA?

Yes. There are only specific types of precious metals that you can have included in your individual retirement account.These include the following:

⁃  For Gold: American Eagle Coins, Australian Kangaroo or Nugget Coins, Austrian Philharmonic, Canadian Maple Leaf Coins, Credit Suisse Gold (PAMP Suisse Gold Bars .999), and U.S. Buffalo Gold Uncirculated Coins (No Proofs)
 ⁃   For Silver: American Eagle Coins, Austrian Kookaburra Coins, Austrian Philharmonic Coins, Canadian Maple Leaf Coins, and Mexican Libertad Coins
 ⁃  For Palladium: Bars and Rounds
 ⁃  For Platinum: American Eagle Coins, Australian Koala Coins, Canadian Maple Leaf Coins, Isle of Man Noble Coins

Is a gold backed IRA just for physical gold?

No. This is actually one of the best things about gold IRAs. You are not limited to just investing in physical gold. You can also choose to have a gold ETF as well as have stocks and shares that you purchase from gold mining companies included in your account.

What is the difference between rolling over and transferring a gold IRA?

A gold IRA rollover takes place when a receipt of distribution from an existing income retirement account is turned around and deposited in another custodial account (retirement plan). There are no fees, taxes, or penalties to be paid for as long as the funds are deposited into the new account within 60 days.

A gold IRA transfer, on the other hand, happens when you directly transfer the assets from one custodian to another. In other words, the distribution check that is issued by the old custodian will be transferred to the new custodian or trustee’s name, who will receive the funds.

Do rollovers or transfers involve the entire income retirement account?

No. Again, this is one of the great aspects of any gold IRA. Partial rollovers and transfers can quickly and easily be done. Investors are often recommended to opt for this kind of gold IRA rollover or transfer, since this provides them with a way to invest just a portion of their IRA in precious metals and keep the rest for other types of investments such as stocks and shares.

In many cases, gold and other precious metal IRAs provide investors with great exposure rate to gold, silver, palladium, and platinum with just little or even no out of pocket expenses.

Are there taxes, penalties, or lots of other fees to deal with when it comes to precious metal IRAs?

This is yet another one of the many advantages of a gold IRA or other precious metal IRAs – there are no taxes and penalties involved, as long as the rollover or the transfer has been completed within the given time frame. Set up fees are not that high, with some being just up to $250. Storage fees, while applicable, are just  around one percent of the total IRA value per year.

The Scary Truth about the U.S. Market, the U.S. Dollar, and Other Types of Investments

The fact that the National Debt of the United States is continuously increasing at more than 3.6 trillion every day is reason enough for you to include gold and other precious metals when setting up your income retirement account. This is an occurrence that, as mentioned above, is foreseen to continue many years from now, until the U.S. dollar loses its value and power. Even the Euro’s future is uncertain because of the financial problems that Europe is encountering and facing.

The Main Reasons to Include Gold and Other Precious Metals in your IRA

While all of these problems are going on, gold’s value is still on the rise. In just the past decade, and for a dozen years in a row, the value of this precious metal has tripled. Yes, it is true that it has its ups and downs over the years, but the key factor here is that the overall history will show you an upward trend. This does not only apply to the past decade, but in the entirety of the precious metal’s history.

When 2013 rolled in, the price of gold saw a pull back from its prior highs. Many investors are seeing this as a great opportunity. And add to this the fact that this particular precious metal has always had a backwards or negative correlation with the value of the U.S. dollar and with stocks.

When the price and the value of the latter fall, the price and the value of gold increases. Whenever there is uncertainty in the economy, gold’s price still goes up. Historically, people always rely on gold whenever the economy experiences tough times. There’s no need to say how gold has always helped them get by.

If you take the time to read the news, you will learn that history is repeating itself. Many countries and governments are tapping into the power of gold, particularly China and India. The extremely wealthy people are doing the same. And with gold IRA now providing regular folks with the chance to do the same thing, why not grab the opportunity? Nowadays, it is a lot easier and simpler to purchase physical gold and include it in an individual retirement account.

The Best Time to Invest In Gold? As Soon As Possible

You may be wondering if there is a ‘best’ time or ‘most appropriate’ time to invest in gold when considering a gold IRA rollover or transfer. The answer is: Yes. Right now.

There is no other good time than now for you to include precious metals, especially gold in your income retirement plan. The main reason for this is because gold has and will always be considered as one of the best long term investments anyone can make. Investing in a gold IRA makes so much sense, as this can protect your future and your financial stability.

Setting Up a Gold and/or Precious Metal Individual Retirement Plan

As mentioned above, gold and other precious metal individual retirement plans are now easy to set up. However, this does not mean that you should be lax when it comes to selecting the people who will be handling your IRA. Since your retirement plan will be your source of income once you get out of the workforce industry, it is crucial that you get everything right.

It is imperative that you choose a precious metals company that will buy gold and other precious metals for you and include it in your individual retirement account. There is no D-I-Y process when it comes to setting up a gold IRA – you would need to work with experts and accredited IRA companies since a specific procedure is being implemented.

Choosing a Gold and/or Precious Metal Individual Retirement Account Company

Now that you know that more about the kind of protection that only gold and/or other precious metal investments can provide, the next very crucial thing that you need to do is to choose an IRA company.

You need to make certain that the company you will work with is an expert in all the different types of precious metals that can be included in an IRA. It needs to be in accordance with all of the rules and regulations that govern precious metal retirement accounts.

To ensure that you will be able to choose the right gold IRA (or any other precious metal IRA) company, here are some critical points to take into consideration:

  • Length of Experience – With gold having a rich history, it is a must that you go for an individual retirement account company that has been servicing clients for a significant amount of time. This will help you be more at ease knowing that the people who are handling your gold individual retirement account are experts in what they do and are extensively experienced and highly knowledgeable in purchasing precious metals.
  • Positively Reviewed by 3rd Parties and Account Holders – You should not just readily trust any information that you will find via the World Wide Web, especially with something as big as setting up a precious metal IRA, a gold IRA rollover, or a gold IRA transfer. Fortunately, there are still quite a number of unbiased online resources that you can turn to for help. 3rd party review websites, forums, and consumer reviews are just some of these sources. Read as much as you can so that you can find out if an IRA company is reliable or not.
  • High Ranking with Independent but Highly Respected Business Review Bodies – You should take the time to contact the Business Consumer Alliance(BCA), the Better Business Bureau (BBB), and TrustLink, which are independent business review bodies. These are organizations that have insider information about many types of businesses, including those that are involved in gold IRA, gold IRA rollover, and gold IRA transfer services.
  • Ready as Many Questions as Possible before Contacting Each IRA Company – Once you have made a list of potential gold IRA or other precious metal individual retirement account companies, contact each one of them. Before you do this though, it is wise for you to list down as many questions as you can relevant to what you are hoping for when it comes to your IRA. The company’s representative should be able to answer your questions right away, and you should detect if he or she is just reading it or if he or she knows it by heart.
My Final Thoughts

I strongly believe that there will come a time when the U.S. dollar will experience a complete fall. While this is not something that I am praying for, I just want investors out there to grasp the gravity of the U.S. market’s situation. Do not allow your retirement plan to go to waste. Set up a gold IRA now and consider a gold IRA rollover or transfer to protect your future and your investments.