Gold 401k Rollover
Investing in physical gold can be an absolute minefield with so many companies now offering the option to rollover your 401k into a self-directed IRA, which in turn allows you to invest in physical gold.
If you are looking to:
- Convert your 401k to gold
- Carry out a gold 401k rollover
- Rollover a 401k to gold
then it’s clear you are looking to invest in physical gold to help protect all the money from your 401k.
If you are totally new to investing in physical gold, as part of a general investment, or your retirement plan then you will find lots of companies who are more than happy to talk you through the process step by step. And a few companies like Regal Assets also offer FREE Gold Investment Kits, packed with lots of great information on gold investments, including how to avoid any tax implications with a gold 401k.
The whole process of investing your 401k into a Gold IRA is relatively straightforward but before we go any further some words of advice:
- if possible do not cash out your 401k. By doing so it will leave you exposed to additional taxes from the government. The IRS will assume you have done a cash withdrawal and you will be taxed on the full amount of your 401k.
The most efficient way of converting your 401k into a Gold IRA is to do a direct rollover, whereby the custodian of your 401k will send all the monies in your 401k direct to the new self-directed IRA custodian. The monies are then used to purchase the physical gold.
How to get a gold 401k started?
Step 1: The first thing is to see whether your employer (former or existing) will allow the rollover of funds from your 401k to an IRA account. If they allow this to happen then the next step is straightforward. However, if they are not in a position to facilitate this, then your other option is to cash-out the 401k and use the funds to start up your gold IRA. This will result in additional taxes so it’s to be avoided if possible.
Step 2: Once you have sorted any issues from Step 1 you can then transfer any monies to your new IRA custodian. Ideally you should have a gold IRA custodian in place prior to step 1 as rather than you taking the cash-out from your former, or existing, company, the new custodian can take the check on your behalf, which should result in not having to pay any taxes.
Step 3: Once your gold IRA account is funded you will need to decide upon which physical gold items to invest in. With a gold IRA you are only allowed to invest in specific gold coins and older rarer or numismatic coins are not allowed as part of a gold IRA plan.
If any of the steps above leave you feeling confused and/or you would like to speak to a specialist who will talk you through the whole process of converting your 401k to gold, or you would like a FREE information pack on gold investments, then get in touch with a company like Regal Assets today.
NOTE: Along with a 401k you can please bear in mind that if you also have any of the following list of IRA’s, you can roll it over into a self-directed gold IRA:
Our Top Recommendation: Regal Assets
(Call Regal on 1-866-525-4394)
Why Choose Regal Assets?:
- A+ rating from the Better Business Bureau.
- AAA rating with Business Consumer Alliance.
- 5 star Customer Service rating from Trustlink AND Preferred Membership Status. (Just check the sheer volume of Testimonials they have here.)
- No IRA fee for the first year and then one small flat fee for subsequent years. (Investments of $10,000+)
- 7 day delivery on any gold investment purchases.
- Gold buy-back policy. And they buy back gold at market rates which a lot of other companies don’t do.
- Very patient, courteous & professional on the phone.
- FREE portfolio analysis