If you want to add physical gold and silver into your IRA, there are two methods you can take. One option is rolling over existing funds into an IRA while the other option involves working with an established precious metals dealer such as Augusta Precious Metals.
Add precious metals to your IRA easily. They offer protection from inflation while being stored safely in depositories approved by the IRS.
Why Precious Metals?
An Individual Retirement Account, or IRA, enables you to invest tax-free for retirement with traditional IRAs being funded with pre-tax dollars while Roth IRA contributions made using post-tax dollars will not incur taxes upon withdrawal.
An investment in precious metals IRA is an ideal way to diversify and protect against economic uncertainty. Gold’s price often remains stable or even appreciates during times of geopolitical unrest and economic instability as investors search for safe-haven assets like this one.
Reputable gold IRA companies like Augusta Precious Metals and Goldco offer customers the tools to educate themselves on precious metals, their history, and how they impact the economy. Both businesses also provide multiple investment options as well as an experienced team to guide you through the transfer process – as well as working directly with IRA custodians so your transfer goes as smoothly as possible.
Taxes
Precious metals may be more expensive than paper assets in an IRA, and like all IRAs they come with fees such as set-up, transaction processing, custodial account maintenance and physical storage storage costs.
Under IRS rules, physical gold used for your IRA cannot be stored in your own possession such as home safe or vault. To comply with this rule, a trusted IRA trustee should purchase and store precious metals in an approved depository or vault.
Some precious metal IRA companies may try to pressure customers with offers of excessive amounts of “free silver,” though any company claiming this cannot be paid for must find ways to cover it through higher prices or hidden costs for investors. It ultimately falls to you and your team of financial, legal and investment professionals to create the most suitable retirement plan possible – using precious metals as part of that plan.
Diversification
As is commonly advised, don’t put all your eggs in one basket.” Diversification is a key principle of investing that involves diversifying investments across different types and asset classes in order to mitigate risk.
If you own multiple stocks, it is advisable to diversify by owning small-cap, mid-cap and large-cap stocks as well as technology, consumer, healthcare and geographical sectors (technology, consumer goods etc). Furthermore, within each portfolio of stocks owned, funds that specialize in certain sectors or industries may help further diversify.
Another form of diversification is tax diversification, which involves choosing different investment accounts and investments that optimize tax treatment and may reduce taxable income. An Ameriprise financial advisor can assess your individual tax situation, risk tolerance and investment horizon and provide personalized diversification strategies tailored specifically to each of your accounts.
Security
Are You Seeking a Diverse Retirement Savings Solution with Inflation Protection and Market Volatility Protection? Gold IRA Companies Can Be the Answer
Converting your IRA to gold and silver can be done easily using direct transfers, where funds move directly from one account to the other without touching your hands, thus helping avoid additional taxes and penalties.
Augusta Precious Metals is an established gold IRA provider with an initial minimum investment of $25,000 and numerous investment options. They also offer seminars and resources designed to educate investors on precious metals’ history and economic impacts – giving newcomers peace of mind as they enter this space.
