Buy Gold With IRA

Buy Gold With IRA

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As we all know, Individual Retirement Accounts (IRAs) are incredibly useful when building funds for a comfortable retirement. After investing over the course of many years, you can eventually retire from your career and still have a regular income thanks to your sensible strategy earlier in life. However, there are now more options for your IRA than you may realize and today we want to talk about gold IRAs.

With the standard IRA, your money will be invested in paper-based assets so this includes bonds, cash, stocks, and more. While this has many benefits, it also presents a number of drawbacks. Therefore, in 1997, Congress decided to introduce a new form of IRA and it revolves around the idea of owning precious metals.

Just in case you’re worried about the standard of gold used for your retirement money, all the coins and bars need to meet standards set by the IRS. Furthermore, an IRA trustee will hold the gold as opposed to the IRA owner themselves and this is important to remember. Once the gold has been allowed, it’s stored in a depository approved by the IRS. Unlike buying physical gold in the market, you won’t have to find somewhere to stash your gold and this is a huge advantage.

Having Gold In Your Retirement Plan

Often, people ask us the benefits of including gold in a retirement plan but they’re exactly the same as owning physical gold in any other way. In 2001, the price of gold was at around $270. If we take this forward to around 2011, the price reached $1,900 which is a huge increase. Although there are still fluctuations with gold, it will always retain its value.

Furthermore, you’re free from the confines of the economy, the power of the dollar, and inflation. If the dollar loses value, you won’t have to worry because the price of gold isn’t affected in the way a standard traditional IRA would be. With gold (and all other commodities), the price actually increases as the dollar loses value because it suddenly becomes a safe haven.

Caution In Your Portfolio
Portfolio

Every couple of years, you should be reviewing your portfolio to see what you can do to manage risk. Often, we have an IRA, money in the stock market, bonds, real estate, and possibly even more investments. However, they all have one thing in common; their performance is determined by the economy, value of the dollar, inflation, and other factors that commonly change. As soon as the dollar falls in value, every single component of your portfolio will suffer. When you buy gold with IRA, you spread this risk and limit the losses should something bad happen within the economy.

As mentioned previously, gold and other commodities act in a very different way because they aren’t impacted by external factors. When the dollar loses value, people instantly look for a safe place to put their money and this is found with precious metals. As the demand increases, supply remains the same which means the price is forced upwards. If you have one person and 100 cars, the manufacturer would struggle to get the asking price because the company needs to sell as they’re the only customer. Suddenly, one car and 100 customers get a very different result; the price would rise as they battle it out to become the owner. In the future, the amount of gold available won’t change but the demand for the precious metal will affect the price.

Choosing A Trustworthy Custodian

If you want to buy gold with IRA, you need to find a broker who looks after the actual purchasing and management of gold on your behalf. As we said before, you won’t be asked to store the physical gold yourself so you need a custodian who will store the gold in a safe space. Just like credit unions, banks, brokerage firms, and trust companies, gold IRA custodians need the approval of State and perhaps even Federal agencies. With the most reputable custodians, they’ll have relationships with hundreds and thousands of dealers around the country which grants you access to precious metals.

With a simple Google search, you’ll find several companies all promising to help as you buy gold with IRA so it can be hard to know which one to choose. Rather than shying away from the sheer amount of options, we believe you should embrace it because it’s better than only having two options. For most people, there are certain considerations to keep in mind;

Honesty And Transparency
In recent years, it seems as though all consumers across all industries are looking for honesty and this extends to the gold IRA market. If you’ve had enough of companies making promises they can’t keep or lying about their testimonials, find yourself a custodian who explains all the costs before getting started so you aren’t left with any nasty surprises.

Qualifications And Experience
To work within this niche, custodians should have all the right qualifications, licenses, registrations, and more. On the website, they should be proud of their history and what they can bring to the table. Even if you have to research the license or qualification, make sure you know the best ones within the industry.

Furthermore, we also believe experience to play a key role when you buy gold with IRA. While knowledge and skill will only get you so far, experience in business allows for quick reaction and resolution when something goes wrong.

Positive Track Record
Next, do they have lots of unhappy previous customers? If so, you’ll want to avoid the service completely because the odds suggest you’ll soon be joining them. Of course, most companies may have the odd bad review but the custodian you choose should be overwhelmingly positive.

Flexibility And Passion
Finally, flexibility is important in the industry because you’re going to have different goals to every other investor they help. Depending on whether or not you’re close to retirement and the amount you’ll be investing, the custodian should adapt their offering. While doing this, they should have a passionate and determined team who are always just a phone call away. These days, customer service is important so can you contact them easily? If not, this could cause trouble when you have concerns or an important question.

Choosing Regal Assets

There we have it, a brief guide to why you might buy gold with IRA, the importance of spreading risk within your portfolio, and how to find a reliable and trustworthy custodian. If you want a company that ticks all the boxes, we would recommend Regal Assets.

At all times, you and your future goals is their priority. Rather than taking your money and not telling you what’s occurring, they think it’s essential you have input and this is why they’ve created a learning atmosphere around their service. Even before you choose them, they can send you a package of useful information to help decide whether a gold IRA is right for you. If you’re looking for a transparent service with a positive track record, choose Regal Assets!

Our personal recommendation to safeguard your future with gold is to contact Regal Assets, The #1 Rated Gold Investment Company 7 years in a row, Click Here To Request A FREE Gold Investors Kit.

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