Add precious metals to your Self-Directed IRA as one way of diversifying your portfolio and protecting against currency deflation. Precious metals have historically served as a store of value.
However, due to IRS rules on which types of metals you can invest in and their storage requirements, it is essential that you work with a gold IRA provider in order to make sure that your IRA investment meets these regulations.
Selecting a Custodian
Custodians are IRS-approved institutions that administer paperwork related to your IRA and ensure compliance with IRA regulations as well as execute transactions for you. Selecting an ideal custodian is vitally important when investing in precious metals – consider factors like reputation, fees and customer service when making your selection.
When searching for a custodian, look for one with an excellent track record and client satisfaction rating. Their security protocols should include 24/7 monitoring and armed guards; inquire as well about their storage space options such as separate vaults for each customer or shared spaces.
Investing in gold coins and bullion as part of your Precious Metals IRA requires an IRA custodian familiar with these investments. Exchange-traded funds or stocks purchased through brokerage accounts do not need a custodian; however, traditional or Roth IRAs require one to ensure assets meet IRS regulations.
Purchasing the Metals
Add gold and other precious metals to your Self-Directed IRA portfolio for added diversification; their prices tend to act differently from stocks and other traditional assets, creating what many financial advisers refer to as a fourth asset class alongside stocks, bonds and cash.
Most investors choose gold bullion rounds and coins for investment, though silver and platinum may also be appropriate options. Whatever investment option you select, make sure it complies with IRS rules; be sure to ask the dealer clearly mark items eligible for an IRA account, as well as having access to an independent depository where you can store them safely.
Start contributing today by linking your bank account or rolling over from an existing retirement plan such as an IRA or 401(k), payroll deduction or linking both together. Contribution limits apply per year; your investments grow tax-deferred until retirement when withdrawals will be taxed as ordinary income rates apply.
Managing the Metals
Addition of precious metals to an IRA can provide your portfolio with added diversification and offer distinct advantages that traditional retirement accounts don’t. Since precious metals are physical assets, their values move independently of stocks or other paper investments.
Your IRA custodian will assist in selecting and purchasing precious metals that meet IRS purity standards, helping you select those most suited to meeting your investment goals and current holdings in your IRA.
Once your purchase is complete, your dealer will send the metals to an approved depository for auditing and documentation, before forwarding them directly to your IRA custodian for delivery into your IRA account.
Augusta Precious Metals is a top-rated precious metals IRA provider and dealer that prides themselves on customer education, transparent pricing and personalized service. Their dedication to customer empowerment and ethical business practices have garnered them accolades from prominent publications like Money Magazine and Investopedia; additionally they utilize trusted depositaries such as Brink’s and Delaware Depository with $1 billion insurance coverage as part of their trusted depositary solution.
Rollover
An IRA rollover is an efficient and hassle-free way to add precious metals to your retirement portfolio. A reliable precious metals dealer will purchase and deliver the metal directly, then store it securely with IRS-approved depository facilities. Just be wary that some vendors publish paid reviews that do not give enough insight for informed decision-making.
An Individual Retirement Account (IRA) allows you to diversify your retirement savings in gold, silver and platinum bullion coins or bars that meet IRS fineness standards, which has proven popular with those concerned about inflation who wish to protect their nest egg by diversifying into physical metals that cannot be confiscated like paper assets and provide unique tax advantages unavailable with other IRA strategies.