Gold Investing

Gold For Retirement

Advantages Of Gold In IRA

Gold for retirement refers to gold commodities, such as physical gold and stocks, held in an individual retirement account (IRA). IRAs are retirement plans that have the backing of the government (represented by the IRS- Internal Revenue Service in America) that allows tax-deferred statuses of funds geared towards retirement. Planning for retirement is important as people’s productivity tend to dwindle as they grow old, yet they still have needs that require catering. It is, thus, important for people to plan for retirement wisely.

Gold is Available in Diverse Forms

Every investor seeks to minimize the risk of his/ her investment, but increase chances of investment growth/ profit through investment portfolio diversification. Physical Gold is available in diverse forms that includes gold bars, gold coins and numismatics, as well as bullion. Additionally, the coins are of a diverse nature (ranging from American Eagles to Australian Philharmonics), whereas gold bars and bullion come in varying sizes and weights, thereby varying prices. A person can plan to have varying gold coins, bullion and bars in his retirement plan; minimizing the risk of one of the gold forms performing poorly in the market, yet maximizing  profits through high performance of any of the other gold forms.

Everyone should be looking at finding places to put their hard earned money in order to get ready for retirement. At a certain point in life everyone one of us tend to think about retirement and no matter how well one handles finances, the fact is we all need retirement directions.

While financial investments may be extremely beneficial and may be able to generate profits for you but at the end of the day, even these are influenced by the dollar rate. Given the present economic problems, the value of the dollar keeps fluctuating, which is why it is better to invest in gold because gold coins and bullion are not at all dependent on the dollar. It is a well-known fact that the value of gold will constantly rise with time irrespective of circumstances because gold is a precious and rare metal.

You can’t start too soon putting money away to secure your future. The economy worldwide is unstable and you should be looking to finding the safest and most reliable vehicles to protect your equity long term. The sooner one starts investing for retirement, the better. It is best to set certain goals and invest wisely so that you have enough money to lead a comfortable life even without your monthly salary.

In this age of the internet there are various retirement calculators online that can help you in planning for your retirement. One can also seek the help of a professional financial advisor to invest wisely. Some of the things to consider while planning for retirement are: present income, your present age, the age at which you plan to retire, yearly raise and your total savings.

Whatever plans you decide, remember to take retirement seriously because considering inflation and ill health associated with old age, we have to be prepared for the worst. You should consider investing in gold.

As far as investment is concerned gold is the most popular precious metal because of the low risk involved. Of course the price of gold had been fluctuation in the last couple of years but if you consider the average price, it is a steady line on a graph. These days the gold Exchange Traded Funds (ETFs) is a popular option because of the ease and safety involved. The charges are quite low and the gold can be bought electronically. Junior gold stocks and mutual gold funds are other options for investing in gold.

Buying gold

Gold is generally considered as a commodity that resists inflation and thus is a favorite among investors. People who are beginners to invest in gold better seek the help of a reputable gold company that will provide all the help to carry out the process. These companies will help you choose gold coins that will provide the highest return on your investment. They will also provide a clear idea on where your gold is and what type and amount of gold has been purchased with your IRA funds. The type of gold that can be used in an IRA are determined by the Tax Payer Relief Act. Some of the requirements for gold investment is that – it should not be a collectible, should have a minimum purity and fineness required for precious metals i.e. Gold (.995+), Silver (.999+), Platinum (.9995+) and Palladium (.9995+). Certified coins are also not allowed.

An investor interested in converting his/her savings to gold should first open a gold backed account to deposit the funds. The next step is to purchase gold assets from a reputed gold dealer. The gold is then put into the hands of an experienced gold IRA trustee. These trustees or custodians will carry out all the administrative work on behalf of the owner who is required to pay a fixed charge for maintenance.

There are two ways by which one can invest using Gold backed IRA:

One option is to use a self-directed IRA. This gives the investor the freedom on how to invest his assets.

The second method is through a gold IRA transfer.

 

Why gold for retirement?

Investing in Gold

Investing in physical gold or gold stocks is often advised by investment advisers as a recession proof option. The price of gold has steadily risen for the last one century and even in a volatile economic situation, your gold investment will remain safer than other traditional investment options such as stocks, ETFs, bonds, mutual funds, etc. Having said that, you must also remember that investment in physical or real gold (either through a gold IRA or keeping the gold in your possession) is considered a better option than investment in gold ETF and stocks, mostly because of the volatility of the markets. Keep this in mind before you go ahead.

Economic stability and durability of Gold

There are numerous reasons as to why gold makes an excellent investment for retirement. As one of the precious metals, the others being rhodium, silver, platinum and palladium, gold has limited reserves available in this planet. The general rule of  supply and demand stipulates that the higher the supply (Inflation) of any commodity, the lower its price go. Seeing that gold is in limited resources, there will never be a risk of having too much gold in the market or an extreme price drop. Again, gold, although mined in less-durable forms, is refined through high temperatures that increase its strength and durability, further. This means that gold can weather dust, water, moth, dump, fire and sun destruction; thereby lasting way longer than traditional assets (buildings, autos, and businesses).

Diversify with Gold

Gold is available in diverse Forms.  Every investor seeks to minimize the risk of his/ her investment and t increase chances of investment growth/profit through investment portfolio diversification. Gold is available in diverse forms that includes gold bars, gold coins and numismatics, as well as bullion. Additionally, the coins are of a diverse nature (ranging from American Eagles to Australian Philharmonics), whereas gold bars and bullion come in varying sizes and weights, thereby varying prices. A person can plan to have varying gold coins, bullion and bars in his retirement plan; minimizing the risk of one of the gold forms performing poorly in the marketing, yet maximizing his profits through high performance of any of the other gold forms.

Gold backed IRA

A gold backed IRA stocks real gold instead of stocks, mutual funds or paper currency.

An investor interested in converting his/her savings to gold should first open a gold backed account to deposit the funds. The next step is to purchase gold assets from a reputed gold dealer. The gold is then put into the hands of an experienced gold IRA trustee. These trustees or custodians will carry out all the administrative work on behalf of the owner who is required to pay a fixed charge for maintenance.

There are two ways by which one can invest using Gold backed IRA:

One option is to use a self-directed IRA. This gives the investor the freedom on how to invest his assets.

The second method is through a gold IRA transfer.

Gold IRA

Gold commodities are some of the safest investments to hedge against the winds of the economy. Gold IRAs can include physical gold and stocks and be held in an Individual Retirement Account (IRA). IRAs are retirement plans that have the backing of the government (represented by the IRS- Internal Revenue Service in America) that allows tax-deferred statuses of funds geared towards retirement. Planning for retirement is important as people’s productivity tend to dwindle as they grow older, yet they still have needs that require catering. It is, thus, important for people to plan for retirement wisely.

Available investment support and assistance

Apart from the minimal fees that some companies charge, purely for their own service provision policies, investing gold for retirement has been made hassle-free and almost free by revenue authorities. Governments, through revenue bodies, encourage gold investment for long term purposes, such as retirement, by making addition of gold into an IRA, or new IRA gold investment, cost-free. Including other assets, especially traditional assets such as real estate, in an IRA an investor must pay high fees. There are also many licensed gold companies called custodians and other professionals that can assist people in investing gold into their retirement plans at affordable fees.

Gold IRA Process

Gold investment for retirement purposes can be achieved through two ways; direct ownership of gold items, and gold IRA for retirement. The difference between these two retirement investments lies in how the gold is acquired, handled and stored. People can choose to do away with IRA and buy gold items that they store safely, or give someone to store for them. In this gold ownership, the owner can dispose of the gold items as he deems fit without incurring trading expenses. IRA gold, on the other hand, must be acquired through an IRA custodian (with the approval of an investor), stored in approved depositories and only be disposed according to the specific IRA guidelines. Failure to comply with the above regulations attracts penalties on the investment. IRA guidelines and investment disposal regulations are geared towards discouraging unplanned and unnecessary withdrawal of the pooled retirement funds, and encouraging people to leave the investments to grow.

Gold Investment Options And Retirement

Apart from gold coins and bars, gold ETF or stocks and shares in gold can also be used. If you have a 401k you can rollover the 401 k to a gold IRA. Pick a reputable gold IRA custodian to guide you.  Having a self directed IRA another way to invest in gold. A self directed IRA works like a regular IRA with the only difference that one can choose themselves how the money will be invested instead of a custodian or a trustee. This gives you a better idea of how it is invested and is hence more flexible, but you need to know what you are doing.

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