Learn How a Gold IRA Can Protect Your Retirement

What is a Gold IRA?

A gold self-directed individual retirement account (IRA), or precious metals IRA, is an IRA that includes IRS-approved precious metals, including gold, silver, platinum, and palladium. When you open a gold IRA account, an IRS-approved custodian holds the gold IRA’s contents for your benefit.

Gold IRAs function similarly to traditional IRAs with one exception: Instead of buying paper assets, you buy and own physical assets: coins and bars. Even though other precious metals may be present in a gold IRA, we refer to these retirement accounts as gold IRAs because gold is typically the most common precious metal in these types of accounts.

When you choose a self-directed IRA with Advantage Gold, we’ll help you choose which precious metal coins and bars make the most sense for you and your goals. Learn more about what a gold IRA is here.

Why Invest in a Gold IRA?

Conventional IRAs or 401(k) accounts from financial advisors, banks, or brokerage firms can limit what you can invest in or what changes you can make. This isn’t the case with a self-directed IRA. In addition, investing in gold and other precious metals can help you hedge against inflation. Having gold in your portfolio can even reduce your overall risk, especially in the face of stock market downturns.

How to Invest in a Gold IRA

If you’re new to the idea of self-directed IRAs or holding physical gold, you probably have a few questions. The following information can help you start investing in physical gold.

Understand Precious Metals IRA Rules

Before you sit down to buy gold as part of any precious metals IRA, you need to understand the basic rules. These include the types of accounts—either traditional or Roth options—available.

The process of purchasing physical precious metals differs from buying gold stocks or exchange-traded funds (ETFs). All IRS-approved gold and silver must meet specific IRS fineness standards. They also need to be stored in an IRS-approved depository—not a safe deposit box or in your home. The same is true for platinum and palladium.

In addition to metal-specific rules, all gold IRAs are subject to the rules regarding tax advantages: because they’re a liquid investment, taking physical possession of your gold counts as withdrawing from your retirement fund. You’ll have to pay all associated taxes and fees, including early withdrawal penalties.

Choose a Gold IRA Company

You have many choices when selecting a reputable gold IRA company. In general a gold IRA company should offer competitive prices, excellent customer support, and transparent pricing.

We recognize that meeting your retirement goals is the key to a solid financial future. Advantage Gold is one of the top gold IRA companies in the industry.

When you choose to work with us, you have access to some of the best customer service in the business. We have built relationships with established custodians that have a fantastic track record from the Better Business Bureau and the flexibility to help you meet your specific retirement diversification goals.

Purchase Gold and Other Precious Metals

Buying gold and other IRA precious metals is simple. You may roll over an existing retirement account (IRA, 401k, TSP, pension) to your self-directed IRA. Because you’re rolling the funds over, you won’t be subject to any taxes on the move if the funds remain in a qualified plan.

Another option is to transfer cash into the self-directed gold IRA to fund your purchase. These deposits must follow the annual IRA contribution limits. You may purchase gold bars, coins, or other precious metals.