A precious metal IRA offers more investment opportunities than traditional IRAs do, giving you the ability to use your retirement account to invest in physical gold, silver, platinum and palladium. These precious metals have long been known for their stability and can add a layer of security to your portfolio. This is especially true during economic uncertainty and cyclical recessions.
Unlike stocks and bonds, precious metals aren’t tied to the market and can offer a hedge against inflation. They can also be held for a longer period of time than other investments, making them an excellent choice to protect your wealth and help you reach your retirement goals.
There are several ways to invest in a precious metals IRA, but the most important factor is working with a reputable and reputable provider. They will help you navigate the complex world of IRAs and ensure your precious metals meet IRS guidelines and are properly stored.
You can choose from a variety of different investments in your precious metals IRA, including gold, silver and platinum coins and bars. Choosing the right metals depends on your needs, but many investors prefer to purchase gold coins and bullion with a purity of 24 karat or higher. Examples include Credit Suisse-approved gold bars, American Buffalo coins and Australian Kangaroo coins. Silver coins and bars with a 0.999 fineness are another popular option. However, you should avoid purchasing coins that have undergone “certification,” as they are not considered IRA-eligible.
To set up a precious metals IRA, you will need to find an authorized custodian that works with approved depository storage providers. These storage providers will keep the metals in a safe, insured facility and provide annual valuation reports to your custodian. The depository will charge an annual fee to store the metals on your behalf. You can also choose to hold your precious metals in cash within your IRA, but this will require a penalty when you reach the age of 70 12.
In addition to the tax advantages, gold and silver IRA investment allow you to diversify your retirement savings by investing in non-traditional assets. They can help you protect your wealth during economic uncertainty and cyclical recessions, and they can offer a level of stability that traditional investments can’t.
The team at Freedom Gold USA in Norfolk is dedicated to educating customers about their options when it comes to IRA investing. They offer a comprehensive guide to precious metals, and they work with top-tier depository storage partners. This allows them to provide the highest quality service and the best pricing on precious metals for IRAs. They also run frequent promotions that can save you money on setup fees and storage costs. To learn more about a precious metals IRA or to schedule an appointment with one of their Norfolk precious metals IRA investment experts, contact them today.