You might not know it yet, but gold is a timeless beast. On one hand, gold has a long history as money – a strange concept for anyone born into an age of paper money. On the other hand, numerous sources have been reporting that generation X and Y have a growing interest in gold (marketwatch.com).
Gold: rated America’s best long-term investment (dailyreckoning.com)
Individual retirement accounts (IRA) provide security for your future as well as your loved ones. This type of account lets you set aside assets for future use, so if you’re going to set one up, it is important that you understand the kind of assets you can use to ensure that your IRA is as solid and reliable so you will have no worries for the future.
Assets can include of course cash, but it devalues over time. You need an asset that can be reliable to retain and even increase in value over time, and that’s where gold comes in. Here are some reasons why gold IRA assets is ideal.
- 1 What is a Gold IRA Account?
- 2 Why Set Up a Gold IRA Account?
- 3 How to Own Gold in IRA
- 4 Rollover Your 401k or IRA Today!
- 5 Convert IRA to Gold IRA
- 6 Gold in Your IRA Does Not Depend on Outside Factors
- 7 No Worries in Preparing for the Future
- 8 The Best Gold IRA Companies?
- 9 Gold IRA Companies Reviewed: The Company We Chose:
- 10 Choosing the Right Company
- 11 Who’s the boss? You or your precious metals IRA Custodian…
- 12 Next Steps You Should Take (Setting up your Gold IRA)
- 13 What If I Have More Questions?
What is a Gold IRA Account?
A gold IRA account can offer you benefits that traditional IRAs can’t. The biggest benefit here is the type of asset itself. Gold does not lose its value. In economic and political turmoil, it is even known to increase in value, the opposite behavior of other types of assets such as stocks and bonds.
Setting up a gold backed IRA is not for everyone, so if you’re thinking of setting one up, consult a professional first. If you have determined that it is the best course of action for you, here are some relevant information you need to know before setting up that gold IRA account.
Why Set Up a Gold IRA Account?
Since you will be counting on your individual retirement account (IRA) for your retirement, it is best to use an asset that does not lose its value over time. With traditional assets such as stocks and bonds, you have to worry about the economic and political state of your country and even the world.
These factors affect the value of these assets so if you find yourself in an economic or a political turmoil, you will find that the assets you have in your IRA are not as valuable as before. Gold does not have that disadvantage. In fact, when problems in politics and the economy arise, gold increases in value.
How to Own Gold in IRA
Having gold in your IRA does not mean you have to hold the gold physically. You can hire a firm to act as a custodian to your gold backed IRA. This means you have to find a reputable firm to do this for you.
Make sure they have the means to securely hold your gold assets and keep your IRA safe.
Convert IRA to Gold IRA
If you do decide to set up a gold back IRA and you already have an existing IRA, you will have to convert your traditional IRA assets into gold IRA assets.
This process is quite simple and easy if you have already set up a gold backed IRA and you have separated from your employer. Your existing retirement plan with your employer will be transferred to your other IRA, in this case a gold one, with almost no fuss.
It can get quite tricky though if you decide to do this while you are still connected to your employer or if you have an IRA with another firm that you need to transfer or convert into a gold IRA. In this situation, you need to consult a financial professional to determine your options.
Gold in Your IRA Does Not Depend on Outside Factors
Unlike other assets, gold does not depend on other individuals, institutions and other factors for its value. If the world market goes down or up, there is little to no effect on the value of gold.
If there is some effect on gold’s value, it goes up and IRA gold becomes more valuable. You will basically feel safer, more secure and pretty much invincible when you have gold in an IRA.
No Worries in Preparing for the Future
Because gold IRAs are relatively easy to set up and gold assets are solid investments, you will have a solid foundation for your retirement plan.
You don’t know when you’ll need it so having something waiting in the wings that you can simply forget and not worry about its value dropping will bring a sense of security in your life.
You will know that gold for IRA is the best choice when you decide to use it and you find out that it’s still as valuable or is already more valuable than when you first set up that IRA.
The Best Gold IRA Companies?
Before you take a look at your options for a gold IRA company or firm, you have to understand that these companies are usually not the same ones where you can acquire precious metals – although that’s not always true.
Most of these firms usually act as custodians for your gold IRA. The gold assets themselves usually come from manufacturers and sellers of gold.
There are several reputable companies out there that sell the right kind of gold that is acceptable for IRAs. This is why as you consider where to buy gold, you should already have an idea on where to put them.
You should also understand the types of gold that are allowed in gold IRA. Usually, the purity of the gold should be 24 karat for it to be considered as an asset for gold IRAs.
Can you see why choosing a good company is so important? Ok, let’s dig deeper now. By the time you’re done reading this article, you should be ready to call one of the gold companies I list below and maybe even setup a gold ira account.
Gold IRA Companies Reviewed: The Company We Chose:
Read our in-depth review about Regal Assets.
This company is by far the most reliable company we’ve dealt with in terms of charges, fees, customer service, and delivering as promised.
Choosing the Right Company
Read up on gold IRA reviews on our site to get an idea of the kind of service you can expect from your would-be gold IRA custodian. There will always be both positive and negative reviews out there so make sure you see the pattern in the feedback.
Once you have a clear view of the benefits and drawbacks of the company you are considering, it’s time for you to determine if the benefits far outweigh the drawbacks. If they do not, be smart enough to consider other options.
Gold IRA companies that act as custodians to your gold must have secure storage facilities to protect your assets. This is why you should inquire about these facilities before committing to their service.
Most of these companies also allows for other types of precious metals in IRAs, so consider that too if you are thinking of using silver or platinum along with gold.
Who’s the boss? You or your precious metals IRA Custodian…
Today’s economic outlook can often appear grim as the stock market rises and falls and the threat of economic collapse is on people’s lips. The value of currency can drop at any moment and stocks and bonds perform best mainly when the economic climate is stable.
Diversifying your portfolio with investments in precious metals will give you that extra security you need for retirement, and the stability of gold’s value remains a constant. The laws that govern IRAs require a precious metals IRA custodian to assist you in your investment plans.
Your precious metals IRA custodian can educate you about the stability of investing in gold.
When the market gets a little shaky and financial institutions are in a panic as to what to do, you can rest assured. If you have invested in gold its rising value will bolster your other investments. Your precious metals IRA custodian will look out for you, answer your questions, and allow you peace of mind.
So what are the duties and responsibilities of an IRA custodian and how can they help you?
Far too often, life can be frustrating when it comes to financial planning and we often wish there was someone else who could handle all the extra tasks that can be taxing on one’s mind. That is the job of a precious metals IRA custodian.
Gold IRAs come in the form of coins or bouillon put in the care of a precious metals IRA custodian. Your precious metals IRA custodian will administer your assets, handle the frustrations of paperwork and provide the required reporting of your financial account to the government.
A precious metals IRA custodian is also available to advise you in matters concerning your precious metals investments.
Insider Tip: Ask your IRA custodian why investing in gold can be a prudent step toward your retirement future.
What goes on in the stock market determines our economic stability, and some keep watchful eyes on it, but it can often be distressing. A precious metals IRA custodian can prove an invaluable asset in keeping an eye on it for you.
When the stock market is up the gains can be phenomenal, but when it is down the losses can be devastating. That is why investing in precious metals like gold can be so rewarding. When the stock market is down the value of gold and those that have invested in it remain relatively stable.
The financial collapse from a few years ago and the failed attempt at a bailout can still be felt, and with an ailing economy there are no guarantees that things won’t look grim once again, so investing in gold IRAs may be able to give you the security and peace of mind you are looking forward to upon retirement.
With a precious metals IRA custodian looking after your assets who is in control of your investment?
A precious metals IRA custodian’s primary job is to manage your investment records, report to the government and offer advice on wise investments like a financial agent or financial adviser. But when it all comes down to it you are the one in charge of what concerns your investment future. You are the one that makes the final decisions. You are the one who owns your investment. Therefore you are the boss.
Investing in gold IRAs is invaluable for diversifying your investment portfolio and making you the boss of your financial future.
Next Steps You Should Take (Setting up your Gold IRA)
This is how you request more information from the dealer I have been talking about in this review.
Step #1.) Visit the Regal Assets website at www.RegalAssets.com
Step #2.) Find and fill-out this form to request free gold kit:
Step #3.) A precious metals specialist will get in touch with you and send your investors kit by mail.
Note: They also have a digital version of this kit. Ask for it by phone and they can email it to you.
Here is what you will receive in the kit:
- a booklet on the history of gold
- special edition of Forbes
- documentary DVD
- brochure explaining the services they offer
- and the paperwork for setting up a gold IRA account.
We recommend that you take a look at the investor kit from this dealer. Or at the very least, get on the phone with them and see if they are able to answer any questions you have right now.
Now that you had the opportunity to understand the value of owning a gold IRA, it is important that whichever company you choose is very reliable in protecting your retirement savings. Our team’s clear pick is Regal Assets due to their transparency, customer service, reliability, storage fees, and their ability to protect our retirement assets.
They definitely pride themselves on being first class, delivering on their promises, and making sure that their customers are satisfied with the end product. They also offer a 7-day delivery guarantee, which is rare when it comes to shipping gold.
Click on the image below to request your gold investment kit that they offer free to new potential customers.
What If I Have More Questions?
If you have some personal questions you would like to ask me before speaking with any company that you are thinking about, you can just shoot us an email via our contact form and we will normally respond within 24 hrs.
It’s sometimes good to speak to a third party person not associated with any company, so that you can get your questions answered with honesty and experience.