Self Directed IRAs >> How To Leverage Gold
The main purpose of this article is to reveal how you can leverage gold and other precious metals via a self directed IRA to protect your retirement portfolio from the ravages of inflation, possible hyperinflation even, and the ravages of economic turmoil and uncertainty.
I realize that some readers may need background information about self directed IRAs and the pros and cons of them in the first place so I will start there by explaining the whole process behind this type of IRA account.
If you wish to skip that part and jump straight to the information about how to leverage gold and precious metals please click here.
Let’s start by taking a look at some of the options that are available to you right now.
Why Choose Self Directed IRA Accounts?
This is obviously the most important question you need to ask yourself. So if you can figure out the reason why you’d prefer this type of IRA over a traditional IRA then you’ll know whether or not it’s perfect for you.
In my opinion, self directed IRA accounts are actually much better than traditional ones because you have a lot more freedom to invest with these particular types. One of the problems with owning a traditional IRA account is that you need to get approval from an IRA custodian if there are going to be any specific changes in money management regarding your account.
The reason why a self directed one is so much better is that you don’t have to go through any of the red tape regarding the management of your own money and investments and you don’t have to deal with any type of an IRA custodian whatsoever. This puts the control completely in your own hands and you don’t have to let anybody dictate how and where you invest your money. The choice is solely yours and there are no hoops to jump through to make the right investments that line up with your own particular situation and circumstances.
Are There Any Other Reasons To Take The Self Directed Option?
Yes, there are certainly some other very important reasons why you’d want to take the self directed option as opposed to going down the traditional IRA route. Since you do not have to deal with an IRA custodian you also get to keep more of your money because you’re not forced to pay any IRA custodial fees. This in my opinion is a tremendous benefit.
What’s the point of having an IRA custodian manage your traditional account if he or she is going to be eating into your profit potential by taking management fees to look after your money?
There are all kinds of reasons why your custodian might charge a fee, and they could be for something as simple as processing one tiny transaction that you could most probably take care of yourself.
If you just had a little bit more confidence in yourself and a bit more knowledge you would easily be able to manage your own investments without the assistance of anybody else.
How Can I Divide The Funds In My Self Directed IRA Account?
This is a very important question, and it’s good to know that you can divide funds in self directed IRA accounts in many different ways as long as you are using appropriate self directed IRA services.
If you decide to go this route, and I do highly recommend that you use this option available to you, you’ll be able to put your money into all kinds of things like commercial property, foreign real estate, tax liens, raw land, discounted notes and even investment property.
It’s very easy to divide up these funds by simply writing a check and then managing these different accounts very simply. This is just one option available to you and it is definitely a good one because it allows you to diversify your IRA even further to limit your risk potential in any one particular area.
How Else Should I Diversify The Risk?
One of the best ways to diversify your investment portfolio right now is by investing in gold and other precious metals. I recommend you do this by actually buying the physical commodities themselves as opposed to the more risky option of investing in them indirectly on the stock market. It’s very different from buying the precious metals themselves, and you could really stand to lose a lot of money if you don’t understand both how this market works and the volatile nature of some of these ETFs that are available for precious metals.
Personally I’d even stay away from investing in the mining companies themselves, otherwise you are relying on the management of the particular Company as well as the local conditions where the mine is located rather than just on the performance of the commodity itself.
The purpose of this article is not to explain the huge benefits of investing in gold but if you want information about that I recommend that you jump to another article I have written on this site about why you can’t afford to ignore gold.
How Should I Use My Self Directed Account To Invest In Gold and Other Precious Metals?
The main way you want to invest in gold and other precious metals is by buying the physical commodities themselves. And the only way to have the ability to own precious metals in this type of IRA is to have a specific type of account that is mostly known as a gold IRA account. For more information about these please read another article I have written here covering Frequently Asked Questions about Gold IRA Investing.
With the global economy struggling so much, and with no real ending in sight to the economic downturn, you really want to have gold as part of your holdings to hedge your bets. Most financial experts are recommending this right now and the general census of opinion is that it is wise to have up to 30% of your investment and retirement portfolio held in physical gold.
How and Where Can I Get A Self Directed IRA To Invest In Gold?
The short answer to this is, talk to an expert! By that I mean someone with expertise in both precious metals and retirement accounts. The good news is, I’m about to tell you who I recommend and why…
The people that I used to set up my own Gold IRA were a Company that I now use exclusively for all my physical gold and precious metals dealings named Regal Assets, a California based precious metals dealer. I can thoroughly recommend them as their representatives are highly qualified and extremely knowledgeable when it comes to precious metals and retirement accounts.
I have made a video review of Regal Assets which you can see by clicking here: Regal Assets Video Review
They will guide you through exactly which types of gold (and silver, platinum and palladium) bullion the United States government currently permits you to hold in an IRA for retirement plans. Plus they can walk you through every step of setting up, transferring or rolling over your retirement plan.
I was amazed how simple this was because I was expecting a load of paperwork, phone calls and hassle! If you would like to know in detail how the process works then skip over to where I have written a detailed report of my experience: How I Set Up My Gold IRA Step By Step
I first came across Regal Assets when I filled in a form on a website I happened to be visiting. It was a form to request a free gold investment & retirement kit and straight away after submitting my details one of their representatives called me. I was pretty impressed with that and how knowledgeable and helpful he was. I’ve been dealing with them ever since and the great thing is now I see them all there as my friends.
I’ve put one of their forms here on this site at the top so that you can do the same as I did. Don’t forget to send your phone number so that one of their specialists there can call you back. I’m sure it will be a decision you’ll never regret.
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Filed under: Retirement Accounts & Planning