Learn How To Rollover Your Ira/401k Into Gold And Silver
WHAT IS A GOLD IRA?
A gold IRA or precious metals IRA is an “Individual Retirement Account” in which physical gold or other approved precious metals are held in a Secured Third-Party Custodian of your choice. for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical coins or bars.
WHY IS GOLD SO VITAL?
In 2008, during the last stock market crash, I watched many of my clients, friends, and family lose more than half of what they’d “saved” for their futures, and now the experts are warning that the cycle is about to go back around the full swing. As the global debt reaches an unsustainable $199,950,079,870,150, economists agree that the end of the dollar as we know it may not last much longer. With gold production cost the highest it’s ever been, and the correlation between the spot price of the metal and that production cost being smaller than any other time in history, It might be time to do what my grandfather used to tell me ” If it ain’t broke then don’t fix it.” Gold has, is, and always will be worth more than a piece of paper. Banks hold gold to back up their paper currencies, but I never heard of paper backing Gold up. A man/woman with a stockpile of gold isn’t just rich in the dollar’s value; instead, he’s very well off no matter where he goes in this world.
WHY BUY A GOLD IRA
IS NOW A GOOD TIME TO DO A ROLLOVER INTO GOLD?
Gold, more than any other desirable attribute, is wealth preservation. You cannot approach it the way you approach your stock or real estate investments. Timing is not the real issue. The first question you need to ask yourself is whether or not you believe you should own gold. If you answer that question in the affirmative, there is no point in delaying your actual purchase or waiting for a more favorable price that may or may not appear. Cost averaging can be a good strategy. The real goal is to diversify so that your overall wealth isn’t compromised by economic dangers and uncertainties like the kind generated by the 2008 financial crisis or the ongoing sovereign debt crisis that has produced a deficit of over 34 trillion dollars.
WHAT ARE THE MECHANICS OF A GOLD ROLLOVER?
It is quite simple and straightforward. After an initial telephone consultation, the client chooses which trust company he or she wants and then submits the completed paperwork by e-mail, fax, overnight courier, or standard US Mail. The process of opening and funding the account will be handled by the trustees involved in the rollover process. We traditionally use New Direction, because of their professionalism, to date. Usually, in about two weeks–sometimes less–the funds are “rolled over” from the current trustee to the new trustee. At that point, the client can contact GoldPro to purchase metals for his or her IRA or 401(k).
IS A GOLD IRA SAFE?
The real question here is, “Will your retirement account be safe without gold?” ‘Because gold prices generally move in the opposite direction of paper assets, adding a gold IRA to a retirement portfolio provides an insurance policy against inflation. This balanced approach smooths out risk, especially over the long term, making it a smart choice for retirement investments like IRAs.
CAN I DO A ROLLOVER FROM MY CURRENT IRA OR 401(K)?
Yes. Most precious metals’ retirement that we handle begins with a rollover. The current law allows for both transfers from IRAs as well as rollovers from qualified retirement plans, such as 401(k), 401(a), 403(b), 457, and Thrift Savings Plan (TSP), and annuities. We have a great deal of experience with this process and can help you navigate it with minimum brain damage. Because of the annual fees for storage, insurance, and management (approx. $225/year), precious metals IRAs are most economical when their value is higher, and that is where a rollover makes a great deal of sense. Someone just starting an IRA would need a few years to accumulate a large enough account to make it cost-effective, even with maximum yearly contributions.
WHY INCLUDE GOLD IN YOUR RETIREMENT PLAN?
“Gold Is Money, Everything Else Is Credit” is attributed to JP Morgan in 1912. That statement couldn’t be more valid than it is today. We’re holding over 34 trillion dollars of debt. We have a stock market that’s Crumbling under the Biden administration, a Major food shortage is coming, currencies all around the globe are collapsing, and we have an incompetent Fed that has shown we have no answers on how to fix the record inflation that as of 05/10/2022 was at a staggering 8.4%. Central Banks are buying more gold than at any other time in history. “An ounce of gold cost $271 in 2001. Ten years later, it reached $1,896—an increase of almost 700 percent. On the way, it passed through some of the most uncertain periods of recent history, when banks collapsed and currencies shivered. The gold price fed on these calamities. In a way, it came to stand for them: it was the re-discovered idol at a time when other gods were falling in a heap of subprime mortgages and credit default swaps and derivative products too complicated even to understand. Against these, gold surged as investors ran to the one currency that has always been the standard of wealth. Put, gold is money – money that cannot be printed or debased — what better way to save for your retirement than with the ultimate form of wealth; Gold.
WHY YOU SHOULD CHOOSE GOLD PRO, LLC
GOLD IRA RULES
IRS APPROVED METALS
The following gold coins are acceptable to be held in a gold IRA by the IRS. However, we strongly recommend a key date for $ 25 Gold American Eagles:
The United States Minted Coins
- American Gold Eagle bullion coins
- American Gold Buffalo uncirculated coins
- American Gold Eagle proof coins
- Chinese Gold Panda coins
- Canadian Gold Maple Leaf coins
- Australian Kangaroo/Nugget coins
- Austrian Gold Philharmonic coins
You can invest in the above-mentioned gold coins in specific sizes. One ounce, one half, one quarter, and one-tenth ounce gold coins are allowed by the Internal Revenue Service.
GOLD IRA VS. TAXES
If you are still on the fence about whether you should invest in gold, we have saved the best news for last! We all have taxes to pay. Some willingly, some a little more reluctantly. With a precious metals IRA, you pay NO TAX on the gain in your metals’ value when they are sold! The only tax you pay is on the money from the sale of the gold. For this reason alone, a gold IRA rollover makes perfect sense in any group of assets. Ensure that you do not miss out on the opportunity to safeguard your financial future by ignoring centuries of awareness and understanding about the safety and value of gold. For a quick chat about how you can take advantage of a gold IRA rollover, or see if you are eligible, give us a call at 855-423-4653. In the meantime, if you have a quick question we could answer, or if you do not understand something, feel free to email us at info@GoldPro.com.