Gold IRA - Why It Can Save Your Retirement
A gold IRA is a self-directed Individual Retirement Account (IRA). It allows you to invest and store physical gold, as well as, other precious metals.
So, what is the point of a gold IRA?
Well, it means you are literally turning part of your retirement plan into gold.
Although it concentrates on a single type of asset, having gold in an IRA account can be a good hedge against inflation.
WHY INCLUDE GOLD IN YOUR RETIREMENT PLAN?
Unlike the more common assets like stocks and bonds, a gold IRA allows you to own physical gold and silver, as well as other precious metals.
If you are looking for a diverse retirement portfolio, then gold in IRA accounts is a smart choice.
Gold IRA is a growing trend and for good reason.
Unlike the volatility of stocks and bonds, gold prices tend to be a lot more steady, providing you with more protection against inflation.
BUYING PHYSICAL GOLD FOR IRA
When buying physical called for an IRA, make sure that it is with a well-established company.
The company will then store or hold the gold for you.
Once you open your gold ira account, it is pretty straightforward from there.
A well-established company will usually do all the heavy lifting for you when it comes to the paperwork, so that is always a plus.
More importantly, an established company will have a dedicated professional to help. They will guide you through the process and help you maximize the potential of your portfolio, giving you complete control.
Funding Your Account
There are a few ways you can fund your gold ira account. They include a transfer of funds from a retirement account such as a 401(k), rollover, or direct rollover.
It is completely up to you what portion of your current IRA or 401(k) you would like to put into your gold IRA account.
However, these transactions all differ. Therefore, it is vital that you have a good understanding of the rules associated with each.
The Bottom Line
Gold has demonstrated itself to be a durable asset in the face of a highly volatile market. This one of the main reasons why having gold in IRA accounts is a growing trend.
A gold IRA will shield you from currency devaluations, effects of inflation, and protect your retirement from possible government confiscation.
By rolling over your IRA into gold, you are securing your own retirement.
