- Precious metals are assets that are valued based on their scarcity.
- Gold and silver, in particular, are valued for their use in jewelry, electronics, and dentistry.
- Gold is valued as a store of value, whereas silver is valued for its industrial use.
Gold, silver, and other precious metals are enjoying a resurgence as a store of value and as a hedge against inflation. Gold tends to retain its purchasing power better than paper currencies, which are subject to inflation.
Investing in gold and other precious metals can be a great way to diversify your portfolio. Gold IRAs, in particular, offer a number of advantages for both new and seasoned investors. But before you invest in precious metals, you first need to understand how they work.
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Types of Gold IRA Investment Options
The different types of gold IRAs include the following:
Gold Bullion
Gold Coins
Precious Metals
Other Precious Metals
A gold IRA has specific tax requirements. However, these tax rules depend on the type of gold IRA that you invest in. Also, keep in mind that there are tax penalties and fees associated with converting your traditional IRA or 401(k) to a gold IRA or rolling over an old IRA or 401(k) to a gold IRA.
Types of Gold IRA Plans
There are two main types of gold IRAs:
Self-Directed Gold IRA: A self-directed IRA allows you to invest your retirement funds in real estate, precious metals, and alternative assets.
Traditional Gold IRA: A traditional IRA is a gold IRA that lets you purchase gold bullion, coins, and bars.
IRA Rollover
If you’re thinking about opening a Gold IRA account, then the process is simple. Your first step is to open a traditional IRA account, which you can do online. Then, you can set up a Gold IRA rollover. If you work with a broker, then he or she will take care of the rollover for you.
IRA Trust
6240 South 134th Street, Suite 100
Omaha, NE 68137
402-934-7400
Since 2002, IRA Trust has been offering competitive gold prices. The company makes it easy to open a gold IRA, and offers a free consultation. IRA Trust also provides free gold IRA investment kits, which can be tailored to each client’s needs.
Gold IRA: Should You Open One To Save For Retirement?
The Bottom Line
Gold IRAs are a simple and tax-advantaged way to invest in gold as a retirement investment. When opening an
IRA account, you have a few options:
Open a traditional IRA
Open a Roth IRA
Open a SEP IRA
Open a SIMPLE IRA