Gold Ira Rollover Retirement Planning
Change is always a little nerve-wracking, especially in the area of personal finances and retirement options. People want to put money where it will work the hardest, give the best return and support a secure future for their retirement. What is the best strategy to get the biggest and safest return on investment? An Individual Retirement Account or Gold IRA Rollover that is backed by gold is a great option for an investor.
More and more people are taking their traditional IRA’s and converting them to Gold IRA’s. Gold and other precious metals are known to be more secure and more stable investments than stocks, bonds and other paper investments. Inflation is real, and so is global economic instability; so financial advisers are recommending gold as a better hedge and protection against financial disaster. Its growth is more stable and dependable, and it’s a real commodity with actual intrinsic value.
To save money on taxes, IRA funds should not be transferred, but rather, rolled-over into a Gold IRA. This is a tried and true way to move and improve retirement money.
Below is a guide on how to protect your money with gold and other metals
Find a good company
Security and reliability are the most important characteristics to look for in a Gold IRA company. Do a thorough check of the company’s references, and compare the business practices of one company versus another.
Make the best choice possible right away so that you do not have to change custodians at a later date. The Internal Revenue Service restricts free (no fee) IRA rollovers to one IRA account per year, and the rollover must be in the full amount of the account. The money must then transfer to your choice of new custodian within 60 days, or the IRS will assess a penalty. If you decide to change custodians again, you must wait 12 months before actually executing the change or be assessed for tax penalties.
Any good company will assist you with all the necessary forms and information needed to do the rollover. Get this process finished well before the required 60 day period mandated by the IRS regulations. Then, arrange to have all the money put into the new account. Sometimes, there are fees assigned to rolling over an account into this kind of IRA. Make sure you completely understand these fees.
Talk with your employer
Many people have a retirement plan through their employers. Speak with the human resources department first before changing to an IRA based on gold. Many companies prohibit the Gold Ira Rollover; so you must understand your own organisations policies and Gold 401k Rollover plan. A good custodian can help you navigate this process.
What is your investment strategy?
When rolling over a traditional Individual Retirement Account into a Gold IRA, understand your personal investment goals and how gold will affect them. Ask yourself: what is the reason behind my investment in gold?
A great reason is diversification. If your investment portfolio is top heavy on stocks, mutual funds or other paper vehicles, it is smart to diversify that portfolio with a minimum of 5 to 10 percent going into gold bars and coins. Gold will strengthen and protect your portfolio.
Another reason to invest in gold is concern about the U.S. dollar and the strength of it across the globe. Paper currencies, including the American dollar, worry investors, especially when they consider the Weimar disaster. If this concern applies to you, then put 10 to 20 percent of your portfolio into gold.
A third reason is simply profit. Word from smart investors is that gold could reach $5,000 or more per ounce in the near future. It is important to note, however, that when investing in gold through an Individual Retirement Account, you must buy bars or coins that are sanctioned by federal tax laws.
An important option investors should be aware of is the gold ETF or Electronic Funds Transfer. This way of investing does not need storage because it is not physical gold. Rather, the gold ETF is actual stock and not physical gold.
Find a Trustworthy Gold IRA Rollover Dealer
Part of your homework before taking this investment step is to find a gold dealer with an excellent reputation for investment expertise and honesty. Many custodians allow the individual to choose where he will purchase his physical gold.
We recommend a company called Regal Assets. Based in Burbank, California, Regal Assets is backed by many of the richest investors in the United States. In addition, this reputable company is not simply a gold dealer but is a Gold IRA company which can safely store your physical gold for you. We recommend that you read online reviews about Regal Assets to understand what their existing customers have to say.
A note on restrictions…
The Internal Revenue Service strictly regulates what can and cannot be invested in your Gold IRA Rollover. In other words, the government allows some kinds of gold bars and coins as investments in Gold IRAs and prohibits others. Coins are required by law to be 99.9 percent pure gold or even better. The accepted coins include the American Gold and Silver Eagle, the Canadian Gold Maple Leaf, Austrian Philharmonic, American Gold and Silver Buffalo and some other coins that are similar to these. Gold bars such as the Credit Suisse gold bar are also acceptable to the Internal Revenue Service’s regulations.
There are some important things to know and steps to take before investing in physical gold by way of a Gold IRA rollover. Take the time to understand the process, the advantages and the disadvantages. Do your own research before reaching out to a Gold IRA company or gold dealer so you can make a wise and informed decision about your money and your future.