Free Gold IRA Rollover Guide, Get Started Today
Spend Your Retirement The Way You’re Meant Too…
What is a gold IRA rollover? how’s it different to a 401K rollover?. The term Gold IRA Rollover can refer to a number of things. Perhaps you are looking to move your 401K into a gold IRA, or perhaps you want to move gold you already own into an IRA. The term “Gold IRA Rollover” can refer any action which results you turning your assets or current retirement plan into a Gold IRA. So this could refer to any kind of retirement account be it 403b, TSP or 401K, along with an IRA you already have but does not have precious metals but traditional assets such as stocks and bonds.
Why rollover into a Gold IRA?
The most popular reason people choose to rollover their retirement fund into gold is due to the stability of the asset. Gold is considered a safe haven for wealth with the added benefit that it moves separate to other assets such as stocks and bonds. This means it can be used as a hedge fund against any other investments held. to summarise as easily as we can…
- Protection against devaluation of the US dollar
- Protection against banking crisis for example the 2008 financial crash with bankruptcy of names such as Lehman Brothers
- Protection against regional and country specific economic crisis, be it US, Europe, Asia etc…
Remember, it is not wise to have 100% of your assets in any one investment, gold is no different. We would say its best to diversify your investments, but gold is a great foundation.
Who is eligible to rollover into a Gold investment account?
Pretty much every hard working, tax paying American, the only hurdle you may come across is the minimum deposit required to open an account. These minimum deposits will be set by your chosen custodian, usually £10,000. However most decide to rollover their employment retirement plan, this allows for any working individual to potentially afford doing so.
What are the costs/fees involved with A Gold IRA rollover?
Each custodian will differ with exact fees, however you can expect to pay storage fees as well as insurance costs. Custodians will then make their money through commissions so may not charge a fee for this particular service. Expect better rates if your a large investor. You must also remember storing Gold can not be done on the cheap. If a custodian is offering very low storage fees then we highly recommend to stay clear as it will either be unsecure or a scam.
Can I get a tax free gold IRA?
No, you will always pay tax somewhere, the idea behind IRA is to make your assets as tax efficient as possible by choosing the right plan for your assets and financial plan. Your options will be between Traditional or Roth IRA, to know the difference between the tax advantages/disadvantages of these read here http://getthemidastouch.com/iras/
What is the difference between Rollover and Transfer
In a direct transfer your custodian will transfer your money from one retirement account to another, however with a rollover the money is taken out and given back to you, you then put this money back into another/new IRA account. A rollover allows you more freedom in what you want to invest in, espically if you want to move from a 401K (or similar work related account) to a self-directed IRA.