Find the Best Gold IRA Companies in 2020
Reid Sletten- Gold is a precious metal that holds its value, which makes it an important asset in portfolios; some investors purchase gold directly, while others choose to invest in gold-backed IRAs.
- Gold-backed IRAs hold physical gold such as gold coins, bars, and bullion.
- These assets can be held in a self-directed IRA, which is an IRA account that allows the investor to make investment decisions themselves.
Diversifying your retirement portfolio can be done by investing in gold. Gold, along with physical silver, have become one of the most popular assets being invested in by a number of individuals.
Gold IRAs are retirement accounts that hold physical gold. These gold IRAs hold gold for an individual or a company's retirement account. Gold IRAs hold physical gold, which has been a popular investment in recent years.
How to Find the Best Gold IRA Companies
Gold IRA companies are companies that provide gold IRAs. A gold IRA is an Individual Retirement Account (IRA) that holds physical gold.
There are two primary types of gold IRAs: self-directed traditional gold IRA and self-directed Roth IRA gold IRA.
With a self-directed traditional gold IRA, the custodian holds gold on behalf of an individual. The IRA owner or custodian has full ownership of the gold.
With a self-directed Roth IRA gold IRA, the custodian holds gold on behalf of an individual. The IRA owner or custodian has partial ownership of the gold.
Don't Forget To Read Reviews
In order to find the best gold IRA company, start by researching reviews. Financial review sites, like WalletHub, offer unbiased reviews of precious metals IRA companies.
You can also read reviews on popular third-party review sites like TrustLink, TrustRadius, and G2 Crowd. These reviews will give you information about the company's customer service, fees, and other important details.
Account Fees
The fees for gold IRA investments can be high, typically ranging from $400 to $1,000 annually. Some gold IRA investment managers offer a monthly pricing plan. Be sure to be aware of all the fees associated with gold IRA investments.
Customer Service
The level of customer service you receive will be a pivotal factor in your decision about which company to use. If the company fails to respond to your calls or emails, you might not get your questions answered when you need them. If the company is unresponsive, you won't feel as secure as you might otherwise feel.
Product and Service Variety
Some companies specialize in gold, while others offer a wide variety of investment options. You'll also want to check the different account types offered by each company. For example, some offer physical gold accounts, while others only offer paper gold accounts. Some accounts are better suited for short-term investment goals, while others are better for long-term saving.
Fees and Costs
Companies offering gold IRA accounts should also have low fees. Look for companies that drop their fees early in the investment process. Also, be aware of high initial setup fees.
Customer Service
Customer service is also an important feature of gold IRA companies. The last thing you want is to deal with a company that makes it difficult to get in touch with them. You also want a company that is easy to work with and takes care of your investments well.
Gold IRA: Should You Open One To Save For Retirement?
The Bottom Line
If you're interested in gold investing, an IRA is an excellent option to help you diversify your portfolio. There are several gold IRA companies to choose from, but the best option for you will depend on your financial goals and risk tolerance.
