Discover the Advantages of a Gold IRA with Fidelity
Michael Hughes- An IRA is a type of retirement account that allows individuals to save for retirement with tax benefits.
- Gold IRAs are a type of IRA that includes physical gold.
- A gold IRA is an individual retirement account (IRA) that includes physical gold or gold-backed exchange-traded funds (ETFs) as an investment option.
- There are several types of gold IRAs, including self-directed IRAs, traditional IRAs, Roth IRAs, and rollover IRAs.
Gold investing has been a driver of wealth for centuries. Gold's value as a commodity, security, and precious metal has made it a precious metal of choice. A gold IRA is an individual retirement account (IRA) that includes physical gold or gold-backed exchange-traded funds (ETFs) as an investment option.
Fidelity Gold IRA Account
Fidelity is one of the nation's largest providers of gold IRA's. It's backed by a $1.2 billion company, and a solid reputation in the investment community.
Gold IRA's are recognized by the Internal Revenue Service (IRS) as a retirement investment vehicle. When you open a gold IRA account, you become eligible to claim tax deductions. You can elect to defer taxes on any profits you make.
Gold IRA's are a much more reliable investment than typical precious metals. Gold is a commodity, its price fluctuates with demand. Gold is mined and minted into bullion, bars, and coins.
When investing in gold, you typically buy the metal and hold on to it. When investing in a Gold IRA, you're actually investing in the companies that own the gold.
There are two types of Gold IRAs: self-directed and trusteed. A self-directed IRA is an IRA where the investor has full financial control and responsibility. A trusteed IRA is an IRA where the investor hires a custodian to manage the account, but the investor retains full financial control.
Types of Gold IRAs With Fidelity
The Fidelity Gold IRA offers both Gold Individual Retirement Accounts (IRAs) and Gold Self-Directed Individual Retirement Accounts (IRAs).
Gold IRAs: Gold IRAs are self-directed IRAs that you can purchase gold, silver, platinum, palladium, and coins.
Gold Self-Directed Precious Metals IRAs: In addition to the metals mentioned above, a gold self-directed precious metals IRA allows you to purchase other precious metals, such as diamonds, coins, and fine art.
Gold Self-Directed Precious Metals and Coins IRAs: A gold self-directed precious metals and coins IRA allows you to purchase gold, silver, platinum, palladium, diamonds, coins, and art.
Gold Self-Directed Precious Metals, Coins, and Art IRAs: A gold self-directed precious metals, coins, and art IRA allows you to purchase gold, silver, platinum, palladium, diamonds, coins, and art.
Gold Bullion IRA
The Gold Bullion IRA allows you to purchase and store physical gold in an IRA. Because gold is not subject to the same capital gains taxes as stocks and bonds, this Gold IRA account helps keep your wealth safe.
Gold Bullion IRA fees include an annual storage fee of $25.00, plus 0.50% of the market value of your gold holdings each year.
Gold IRA Rollover
The Gold IRA Rollover allows you to transfer certain eligible assets from an existing IRA into a Gold IRA.
Gold IRA Rollover fees include annual storage fees of $25.00 and 0.50% of the market value of your transferred assets each year.
Gold ETF
Fidelity offers two gold ETFs: the iShares Gold Trust (IAU) and the SPDR Gold Trust (GLD). The former is passively managed and invests in physical gold bars, while the latter is an exchange-traded fund (ETF) that invests in the trust.
Gold Bullion
Fidelity offers several types of gold bullion, including:
1 oz. American Gold Eagle coins
1/10 oz. American Gold Buffalo coins
1 oz. Canadian Gold Maple Leaf coins
1/10 oz. Gold Maple Leaf coins
1/10 oz. Gold Britannia coins
Gold Coin IRA
The Gold Coin IRA option offers investors the most flexibility to invest in physical gold bars and coins.
Gold Bullion
Gold bullion offers investors the most straightforward and cost-effective way to purchase gold. Gold bullion is coins or bars that are stamped with a stated weight and purity of gold.
Gold ETFs
Gold ETFs are similar to stocks. Instead of physically owning gold, investors own shares in a fund that owns gold.
Bullion Coins
Gold bullion coins are legal tender from the U.S. Mint and come in all sizes - dollars, dimes, quarters, half dollars, and more.
