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Precious Metal IRAs:

The Best Way to Protect Your Retirement Savings?

 

Oct.6, 2022

Posted by Dollarcollapse.com


What’s the best way to protect your retirement savings? That’s one of the most important questions for those 55 and over. Many Americans are becoming more anxious as they watch the stock, bond, and real estate markets free fall. Climbing interest rates, a looming recession, and a teetering dollar all point to one thing. Conventional retirement planning doesn’t work anymore. 

Americans want to know their retirement is safe and secure without simply trusting numbers in the bank. They want real wealth they can touch and feel so they’re turning to precious metals.

What is a Precious Metals IRA?

Traditionally, most retirement planners opt to limit their portfolios to stocks, bonds, and cash within a Traditional, or Roth IRA. Unfortunately, this doesn’t not allow you to secure the purchasing power of your retirement savings. Precious metals act as a hedge against inflation, protect purchasing power, and diversify your portfolio. A Precious Metals IRA combines the benefits of precious metals with the tax benefits of a government-approved retirement account.

Precious Metal IRAs allow you to invest, buy, and trade in real physical precious metals, while also investing in stocks, bonds, and real estate.

Precious Metals IRAs are:

  • Self-directed individual retirement accounts.
  • Tax-incentivized. 
  • Investments in physical gold, silver, platinum and palladium.
  • Able to provides greater freedom and control than a standard IRA.
  • Structured as traditional or Roth IRAs.
  • Commonly used to diversify your portfolio
  • Portfolio protectors. Gold, for example has withstood the test of time for over 5000 years.

Why are Precious Metal IRAs important right now? 

The US dollar, and the global financial system are teetering on the brink of collapse. As of Oct. 5, 2022, US national debt hit $31 trillion with a declining GDP. With a coming recession, the US Treasury is looking at insolvency by 2025. This is no joke for those who’ve worked their whole lives raising children and preparing for retirement. So the right question to be asking yourself is, “Will your retirement be safe without gold and other precious metals?” 

In every economic crisis, when the value of stocks, bonds and real estate decline, gold prices move in the opposite direction. Gold has proven itself over and over again. Adding a Precious Metals IRA to your portfolio isn’t just an insurance policy against inflation, it’s protection from economic collapse. 

Even in a smooth, steady economy, Precious Metal IRAs are a balanced approach that reduces risk, especially over the long term. It’s a smart choice for retirement investments.

Gold and silver are selling at bargain prices, right now. A Precious Metals IRA will allow you to leverage the market by buying low and selling high, anytime. Or, hold your precious metals for the long term to protect your nest egg from inflation and volatility in other areas of your portfolio. Precious Metals like gold, silver, platinum, and palladium are your portfolio’s safe haven, retaining value during times of economic crisis. These metals may even perform better than you expect.

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How do Precious Metal IRAs work? 

You can convert your existing retirement plan to a Precious Metals IRA. It’s simple, fast, and easier than you might think. Most companies handle the heavy-lifting of the paperwork for you.

To open a Precious Metals IRA, you need to consider how you will fund it. If your current retirement account is eligible, then it can be moved into your Precious Metals IRA without penalty. It works the same as a conventional retirement account. It has the same tax incentives. You may also choose to move a portion of your existing account into a Precious Metals IRA.

You can transfer the following accounts into a Precious Metals IRA:

  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • SIMPLE IRA
  • Eligible 401(k), 403(b), 457, and other retirement plans

Then you purchase your precious precious metals. According to the IRS, you can choose to purchase physical gold, silver, platinum, or palladium for your account. The physical metals must be administered by an accredited custodian like Equity Trust Company and STRATA Trust Company. Whichever company you choose to hold your Precious Metals IRA will work with your custodian for security and storage of your investments at all times. You have total control over your investment. You can buy, sell, and trade your physical precious metals, any time.

Is a Self-Directed Precious Metals IRA right for you? 

If you see the importance of investing in precious metals and how they can protect your savings and grow your income, then a Self-Directed Precious Metals IRA could be the best choice for you. Right now, precious metals, especially gold are available for discount prices. Then it’s important to consider the benefits.

Precious Metal IRAs are a safe haven against the coming financial storm. It’s only in times of economic crisis and recession that gold reacts in a volatile and often positive way to market fluctuation. Precious metals carry an intrinsic worth that shield you and your savings from loss of value.

When you find the right company to open an account and steward your precious metals, it’s wise to check them out first. A company’s reputation, customer satisfaction and reliability should be considered. 

The process should be smooth and you should receive exceptional help. From answering your questions to securing and storing your precious metals in an insured facility, you want the best.

What We Recommend

We recommend Goldco as your Precious Metals IRA provider. They work with all major custodians of precious metals. BirchGold Group is another option and are a great company as well. When it comes to precious metals and protecting your savings, Goldco is at the top of their game.

Here are five reasons: 

Reason #1 – Goldco has promos every month. They have one of the best offers that we’ve seen running right now. You can qualify for up to 10% in FREE silver.

Reason #2 – Costs are flat fees. Most companies charge a percentage of the assets contained in the IRA. GoldCo charges a yearly flat fee.

Reason #3 – Free “Protect Your Savings” information kit. Qualified persons request a free information kit. It tells you everything you need to know about investing through a Precious Metals IRA.

Reason #4 – The best online education resources. The resources available are extensive and the best any company we’ve seen provide. 

Reason #5 – Goldco’s guarantee: Goldco has a Buy Back program that the company will purchase your precious metals at the highest price in the given time. 

Bonus: Goldco is an accredited business with the BBB with an A+ rating.

Frequently Asked Questions (FAQs)

1. Is a Precious Metals IRA a special kind of retirement account?

Not necessarily. A Precious Metals IRA is a self-directed IRA that can hold physical precious metals. It can be structured as a traditional IRA or a ROTH IRA. Most IRAs are not designed to hold precious metals like gold, silver, platinum and palladium, but these are.

2. What precious metals can I buy and sell in a Precious Metals IRA?

You can buy gold, silver, platinum, and palladium bars and coins. The IRS requires the highest quality gold coins and bars. Gold coins and bars must be at least 0.995 fine. Silver products must be at least 0.999 fine. Platinum and palladium products must be at least 0.9995 fine.

3. I have an IRA, TSP, 401K, or 403B. Can I use them to invest in Precious Metals?

Yes, you can transfer the following accounts into a Precious Metals IRA:

  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • SIMPLE IRA
  • Eligible 401(k), 403(b), 457, and other retirement plans

4. Are there any tax benefits to holding a Precious Metals IRA?

Contributions made to traditional self-directed IRAs are tax-deductible. Qualified withdrawals from Roth IRA accounts are tax free. 

5. Is it difficult or time consuming to transfer or rollover to a precious metals IRA?

No, not at all. When you call a customer care specialist, they will be able to answer any question you like. The whole process generally takes around two weeks. 

6. Is there a minimum I can invest?

Some organizations, such as Birch Gold Group will allow you to invest with the minimum of $10,000 to open a new account, transfer, or rollover funds from an existing IRA. Other companies like Goldco for example, have a $25,000 minimum on all accounts which includes new accounts/non-transfers and transfers.

7. Can I store the precious metals for my IRA at home?

No. You cannot store physical precious metals in your home and have them as part of the IRA at the same time.

8. Is it complicated to buy a Precious Metals IRA?

No. Here are the steps:

  1. Open your account.
  2. Choose your precious metals (gold, silver, platinum, palladium)
  3. Make your purchase.
  4. A custodian will store your precious metals.
  5. Watch your Precious Metals IRA value grow.

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