Benefits of Gold IRA Accounts
Should you get an IRA account or a Gold IRA account?
If you want to protect your wealth, safeguard your investments, secure your future and enjoy your retirement to the maximum then you owe it to yourself to learn more about Gold IRA accounts and why nowadays it is more important than ever to include physical gold in your retirement investment portfolio. Just read on…
Unlike the more traditional types of investments that are typically included in retirement planning such as savings accounts, annuities, bonds, stocks and shares, gold is unique because it does not rely on others such as corporations and individuals to enhance its value. What’s more, by including physical gold in your pension fund you will have something that is real when you retire, not just paper.
About Gold IRA Accounts
First off you should know that there are some IRA accounts that allow gold to be included in the overall plan. Do you know if your IRA allows for this? Well it would be a great idea to check. You can typically speak to someone who runs your retirement fund or your IRA custodian to get a definitive answer.
If it turns out that you cannot include physical gold in your IRA, which is most likely the case, then you should consider a gold IRA. If you are already thinking about buying gold as an investment then there are lots of good reasons to do so via your retirement plan.
If you have not so far considered including gold in your investment portfolio then I would strongly recommend that you read another article I have written elsewhere on this site about why you can’t afford to ignore gold. Beware though, it might shock you!
Gold IRAs give you the option of including physical gold in your retirement account or plan. Actually with this type of IRA you can include silver, platinum and palladium as well. This must be done in accordance with IRS regulations.
Since this is a retirement plan that allows you to lessen your tax burden the IRS oversees these accounts and therefore chooses to regulate them as well. It is essential therefore that you undertake this procedure under the guidance of specialists in the fields of both precious metals and retirement accounts. Further down on this page I will share with you details of the specialists that I recommend and the reasons why.
It is interesting that you could not even think about having a gold IRA account until 1997 when Bill Clinton made this possible. These accounts have only started to become popular quite recently though, because of everything that is going on worldwide.
Americans have started to wake up to the fact that they need to protect their retirement funds from the ravages of inflation and the ever decreasing value of the US dollar, and that gold and other precious metals can do that for them from within their IRAs. This is precisely why gold IRAs are so popular now.
Benefits of Gold IRAs
The reassurance that you can back up all of your investments with the stability of gold is definitely the main benefit. Your overall investment portfolio will be protected if you include gold. This is because gold, being a safe-haven asset acts as a hedge and historically has always risen in value during times when the economy is in trouble.
Typically, in times of economic turmoil such as we are experiencing right now stocks, bonds, real estate and the value of the dollar all fall and inflation increases. This combination can have a devastating effect on your retirement fund if it is not protected. Gold can offer you exactly the protection that you need.
Having a Gold backed IRA in place also means you can take advantage of fluctuations in the price of gold and rapidly add gold to your retirement fund whenever the price dips. This means over the length of the time you hold those assets the relative price is lowered no matter if you bought gold at a higher price later on. Many people use this strategy frequently when buying and trading stocks and shares so it makes perfect sense to use it when buying gold bars and gold coins to include in your retirement account.
Also, having a gold backed IRA means you will be able to have professionals on your side who fully understand what to do to maximize your return on investment. This is vital in order to secure your future and to make sure you have enough to take care of yourself in your retirement.
Another important benefit of a gold backed retirement plan is that it offers you the opportunity to invest in gold in a very tax effective way. To find out more about the tax advantages I would recommend that you talk to these experts.
Is a Gold Backed Retirement Account Right For You?
To be honest I believe that a gold backed pension fund is right for anyone right now who has existing non precious metals related investments. At the moment these are exposed and need to be protected. Making gold part of your retirement investment portfolio is also perfect for anyone without an existing retirement fund who wants to set one up.
Let me explain a bit about Gold IRAs here…
A lot of people think that the only investments you can include are physical precious metals. That is not so. Any type of investment can be included, such as your existing stocks and shares. It’s just that if you want physical gold and other precious metals to be included then you have to have a specific type of IRA account set up.
It is also a misconception that you can only have one IRA. You can legitimately have as many as you want! So if you have an existing IRA or 401k that does not permit you to include gold then you can either transfer or roll it over into a gold IRA or if you prefer you can set up a gold IRA account in addition to your existing retirement funds.
It is understandable that you may have hesitations about switching accounts as you may well think that it will be a complicated, time consuming and costly procedure. Well let me put your mind at rest here. In fact I would even go a step further and recommend that you skip over to read about how I set up my own gold IRA in only 2 weeks, how I only had to fill in a single one page form and how I didn’t have to pay any fees at all.
You will find a lot more detailed information about gold IRA investing elsewhere on this site.
Couldn’t I Just Add Gold Stocks To My Portfolio and Reap The Same Benefit?
Buying gold stocks is one way of hedging your portfolio but is not as effective as including gold in its physical form. This is because the value of gold stocks is not linked solely to the price of gold. Instead you are relying on other factors such as the management structure and performance of the Companies you invest in, political factors prevailing in the countries in which the mines are located and also the cost of production.
There is a case for including gold stocks as well as physical gold but it is generally recommended that you do not include these instead of the commodity in its physical form.
How To Get Started With a Gold IRA
Because securing your retirement is so vitally important it is equally important that you set your gold IRA account up in the most tax effective way, with the best possible chance of maximizing your return on investment (ROI) and in compliance with the rules and regulations stipulated and governed by the IRS.
That is why you should work with a company who specializes in both precious metals and retirement accounts.
The Company that I am very confident in recommending and who I used to set up my own gold IRA is Regal Assets. They have an excellent reputation in the industry, they’ve been around for many years and they have an A+ rating with the Better Business Bureau, which is the highest rating they give to any Company.
I have placed one of their forms in the sidebar at the top of this page where you can request one of their complimentary Gold Investment and Retirement Kits. The way it works is that you submit your name, email and phone number then one of their specialists will call you to discuss your requirements, answer all your questions and arrange to send you one of their excellent kits. This gives you a great opportunity to have a chat with a specialist in both precious metals and retirement plans.
If you would like to first check out exactly why I recommend Regal Assets you can take a look at this video review that I have done for you.
Setting up a gold IRA account is one of the wisest decisions you can make right now and filling out that form will be the first important step you take towards securing your future. Just grab the opportunity before it’s too late!
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Filed under: Retirement Accounts & Planning