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What are Gold IRAs? Also known as Precious Metals IRAs, these kind of IRAs allow individuals to invest their money in precious metals, either gold or silver. In this way, they protect their money against unforseen events as a stock market crash. Not only that, these kind of IRAs are almost as good as having money-in-hand thanks to how easy it is to transform them back into liquid cash.
Does this sound interesting? Are you considering how to invest your money in precious metals? Then welcome to Goldco: here you will be able to read more about this top-of-the-line company, and why it might be the right one for you.
Goldco's Self-Directed IRAs
Self-directed IRAs, the other name by which Precious Metals IRAs are known, are just a variation of traditional IRAs. The difference, however, is key. Instead of having your money tied up in the stock market, here can individuals invest in precious metals or, in some cases, other sorts of investments. With Goldco you can choose between Gold or Silver IRAs.
Why Choose a Self-Directed Gold IRA with Goldco?
Having your money in a self-directed IRA is the smart way to go. The reason for this is that it is diversified, and not bind to one single commodity.
Say that you invest all the money you had planned to invest in the stock market, in the form of stocks and bonds. Nothing wrong with that. Until the stock market crashes. And it does crash. If, on the other hand, you had your money invested not only in the stock market but also in precious metals, when the crash comes you will not feel the impact as if you only had money in the stock market.
If to that we add that, in general, gold and silver prices tend to go up when the stock market goes down, it is easy to see why it is not a bad idea to spread out your investments. Besides, gold holds its value way better than other commodities.
Why Buy Gold?
Why? Gold is not only used in jewelry, but also in technology. More and more of today’s technical developments rely on gold property’s to work efficiently. And it is the same with silver. Because of this constant demand, and the increased difficulty to mine these two metals, their price will continue to go up for the foreseeable future
Another big advantage is how easy are precious metals to liquidate compare to other investments. Think about the amount of time you need to sell a house or flat. Then think that you only need to make a phone call or fill in an online form to sell precious metals.
For the last two decades, the price of gold has grown almost twice as fast when compared to the stock market. This should tell you something, doesn’t it.
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Set up a Gold IRA with Goldco and receive the same tax benefits than with a traditional IRA, the only difference being that your money is invested in gold rather than stocks.
Once you are ready to start, the Goldco team is ready to help you all the way, specially since they known inside-out IRS’ specific regulations about Precious Metals IRAs and will help you avoid pitfalls and penalties by following the correct procedures.
Setting up a new Gold IRA with Goldco couldn’t be easier: visit their website, fill out the application, choose how to fund yoour new IRA and transfer the funds to Goldco.
Once the funds have arrived, select what kind of precious metals you want to have in your IRA. With this done, Goldco will then send the precious metals of your choice to an IRS-approved storage for safe keeping. And that’s that.
Keep in mind that while it is tempting to have only ingots, or bars, in your storage, some coins can have a price above the metal price because of the coin being in high demand or due to a limited mintage.
Goldco’s gold purity is at least 99.5%, according to IRS regulations. Below is a list of the gold coins offered by Goldco.
Gold IRA Coins
Gold IRA Bars
Not limiting themselves to normal bars, Goldco offers a wide range of weights, with the most common being 1, 5, 10, and 100-ounce bars. Goldco’s bars come from PAMP Suisse and the Perth Mint, amongst others, and they are 99.99% pure gold.
Just like gold, Silver IRAs are also a strong option for those of you interested in diversifying your portfolio.
While silver is a sound investment, and its demands continues to be high, the difference with other precious metals is that it has a more economical price, and thanks to this it is more affordable. It is possible to add many more coins or bars to your Silver IRA than gold, the investment price being the same.
Silver is a long and well known precious metal to humans, and because of how long it has been traded, liquidating should be no problem at all.
The process of setting up a Silver IRA with Goldco is exactly the same as setting a Gold IRA: fill out the form, fund the account, decide the coins and bars you want in it. Keep in mind that you can select a mix of gold and silver.
Always complying with IRS’ standards, Goldco’s silver is at least 99.99% pure.
Silver IRA Coins
Silver IRA Bars
As with gold, Goldco offers a variety of bars, being 1, 5, 10, and 100 ounces the most common. Also as with gold, Goldco silver comes from the famous PAMP Suisse and the Perth Mint, amongst others.
Transferring and Rolling Over Existing IRAs
You might wonder if you can roll over your current retirement investment account into a Gold or Silver IRA. In their website, you will find a useful guide to see if your actual account meets the necessary criteria. Or, if you prefer, call the Gold team if you still have questions about it.
People tend to start showing interest in a rollover IRA when they are changing jobs or once they retire from the job they hold. The reason for this is that one is able to move funds previously bind to a company sponsored account.
Thanks to an IRA rollover, you can move funds from these more common accounts into an IRA account. You might even be able to roll over funds from various accounts into your new Precious Metals IRA, not only from one account.
One of the many benefits that come with rolling over accounts into Gold IRA is that you tax that gold at a much lower rate than if, say, you were to buy the gold and have it at your home. It can be that you are not even taxed at all, depending on the account you set up.
Other benefits are:
The first to do before deciding if you want to roll over or set up a Precious Metals IRA is to read IRS guidelines, penalties, and rules on the matter. And the first of all these things you have to learn is the contribution limits for an IRA according to your age. Exceed these limits, and you will incur in a 6% yearly fee until that mistake is corrected.
Another important rule is the age limit for funds withdrawal without penalties. Said age is 59 ½ years old. Before this age you will incur in a 10% fee on the withdrawn money, and owe income tax on that money as well. Death and disability are a few of the exceptions to this rule.
If you have read up to this point, you should have a better understanding of Gold and Silver IRAs, or how to roll over an existing account into a self-directed IRA. Goldco’s website offers a fail-proof 4-step process for you to follow, after which you will be all ready to go. If the need arises, a member of Goldco team will also be available to help you throughout the process.
Step One, consider your investment option. Compare gold and silver with stocks, funds, or real estate. Confirm your readiness to invest in these metals, and then decide which ones you want to have in your portfolio.
Step Two, contact one of Goldco’s Precious Metals IRAs specialists. They will guide you through all the paperwork to get your IRA set up.
Step Three, transfer funds to your new account. As soon as said funds arrive, you will be able to choose the coins, or bars, you want to invest in. The specialist from Step Two will be with you all the time to help you get everything into your account. Then Goldco will take care of making sure your precious metal reaches a secure storage.
Step Four, sit back and watch your invest increase in value. Every year from the first one, you can invest up to $6000 without any penalties, or $7000 if you are 50+. This will be the total amount you will be able to add to your IRAs, so keep that in mind.
Even if you are just getting into the world of precious metals and are not ready, yet, to take the next step, Goldco is there for you too. Their website has a tab labeled ‘Resources’ where you will find some very useful topics on this subject.
One of these topics is today's prices for precious metals. Click on the link, and you will go to another page where you will see actualized prices, day-by-day, for gold, silver, platinum, and palladium.
Videos, FAQs, and eBooks are also offered, aiming all of them to help you make an informed choice on the matter.
Free Self-Directed IRA Guide
Is your curiosity piqued? This might be the case, but you might not be there just yet. Request a free copy of Goldco’s own self-directed guide to IRAs. It shares even more information about the subject as a whole: reasons to invest, how to get started, IRA process and average time to get a new Precious Metals IRA set up and funded.
You have thought about it, you have looked for information, and now you are ready to set up a Gold or Silver IRA. Goldco is definitely the way to go. Diversify your portfolio and prepare for retirement. Fill out the form in their website or call directly, and a member of the Goldco team will contact you today to help you start.