A Gold IRA operates in exactly the same way as your existing IRA, with the main difference being that within a Gold IRA you get to hold physical gold coins and/or gold gold bars instead of investments in stocks & bonds.
The gold is kept with an approved gold storage company, where you can go and check the gold at any time.
And this is one of the great things about having physical gold as part of your investment. Being able to hold and admire your investment is just not something which any other investment allows you to do and as such your investment becomes more real.
And with a Gold IRA you will also hear the terms Self-directed IRA and Rollover IRA mentioned.
The type of IRA account used for this type of investment is called a Self-directed IRA. As the name suggests a self-directed IRA allows you to decide what investment type(s) to include within your IRA. For example it could be real estate, stock & bonds or precious metals like Gold, Silver, Platinum & Palladium.
And if you are looking to move an existing IRA account e.g. Traditional, Roth, SEP or Simple IRA to one of these self-directed IRA’s then it also referred to as a Rollover IRA.
To benefit from a tax-free rollover you must ensure the rollover adheres to the following:
- The rollover must be completed within 60 days of receiving all the IRA funds.
- You can only rollover funds from the same IRA once in every 12 month period. (Traditional & SEP IRA’s)
So if you already have a Traditional, Roth, SEP or Simple IRA then there are just 3 steps to convert that IRA into a Gold IRA:
Step 1: Talk with a gold IRA specialist who will advise you on which gold is best for your gold IRA.
Step 2: Setup a self-directed IRA with your new IRA custodian.
Step 3: Store your gold in an approved gold depository.
As you can see the process looks pretty straightforward and any of the Gold IRA companies we suggested should be able to talk you through all 3 steps, making the whole process as hassle free as possible.
There are lots of companies who we could recommend to you for a Gold IRA. But one company stands out, Regal Assets, not only because they made the Inc 500 list of the fastest growing US companies in 2013 but also because of their AAA rating from the Better Business Bureau. Their exceptional attitude towards customer service and for their commitment to providing flat-rate IRA fees.
We Recommend REGAL ASSETS for Your Gold IRA
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