Goldco Vs Lear Capital

Patriot Gold Group vs Goldco
Saving money for retirement is essential for anyone who wants to be able to retire at a reasonable age and maintain their quality of living. While there are many different types of retirement accounts that you can invest in, likely the most advantageous IRA is a self-directed IRA, which gives you the opportunity to make alternative investments in real estate, collectibles, gold, and other investments that aren’t usually tied to a retirement portfolio.

Investing in gold is a great way to diversify your portfolio and perform an investment strategy that could provide you with high returns. When you start investing in a gold IRA, you’ll likely notice that there are many different companies and services that you can select from. Two of the most popular options are Goldco and Lear Capital. This guide provides a detailed comparison of the two gold IRA accounts and which one is right for you.

Types of Accounts/Services Offered By Goldco Vs Lear Capital

Both Goldco and Lear Capital offer several different accounts that you can obtain to further your investments, the primary of which involves a gold IRA. Lear Capital specializes in precious metal IRA accounts. If you decide to use Lear Capital to further your investment portfolio, you can use their services to invest in both gold and silver. Once you open an account with Lear Capital, the company will assist you in rolling over your current IRA or 401(k) account into an IRA account for precious metals.

You will be able to buy, sell, and transfer assets once you have created an account with Lear Capital. The annual membership that comes with a Lear Capital account includes storage with Brinks, quarterly statements, and custodian management. Lear Capital can also provide you with assistance in selecting the best gold and silver coins to purchase for your account. Along with the standard gold and silver coins that you can invest in, Lear Capital identifies the specific gold and silver coins that are deemed to be IRA-eligible.

As for Goldco, they offer a wide range of services. A notable aspect of Goldco services is that they can be personalized to suit your exact needs. They also provide comprehensive consulting services that can prove invaluable when you’re trying to reach the retirement goals that you’ve set. Goldco has recently constructed their own storage facility, which gives them the ability to house the precious metals that you invest in. If you’d like to use your own storage solution, you’ll have the ability to do so.

The primary products available through Goldco include gold IRA and silver IRA accounts. Keep in mind that Goldco primarily acts as a broker for precious metal IRA accounts, which means that they aren’t the custodian for your account. Instead, they typically partner with Equity Institutional for custodial services. The various services that you can obtain through Goldco include:

  • Gold IRA – Goldco will provide you with details on what it takes to open this type of account as well as the types of metals that you can invest in
  • Silver IRA – You’ll be given tips on starting a silver IRA and a list of the silver coins that are accepted in this type of IRA account
  • IRA planning services – Goldco offers their comprehensive resources and expertise to help you with various types of IRA planning, which include simple IRA planning, SEP IRA planning, traditional IRA planning, and Roth IRA planning
  • 401(k) rollover services – If you currently hold a traditional IRA or similar type of IRA, Goldco can assist you in rolling over the account into a precious metal IRA

Fees for Goldco Vs Lear


Before you choose a gold IRA account, it’s important that you understand the different fees that Goldco and Lear Capital charge. When you create an account with Lear Capital, you will be tasked with paying a $180 annual fee, which covers shipping, insurance, constant access to your account, and quarterly financial statements. Even though application fees aren’t required with Lear Capital, they can charge certain commission and storage fees whenever you purchase gold. Keep in mind that the minimum required investment when using Lear Capital investment services is $7,500.

When looking specifically at Goldco, the fees that you’ll be required to pay depend on the amount of money you invest. Since Goldco services can be personalized to meet your exact needs, the fees can differ. While non-IRA accounts come with a minimum investment requirement of $3,500, this requirement goes up to $25,000 with an IRA account. One notable benefit of making an investment of $25,000 or more is that you will be fully reimbursed for your first year of storage costs. This reimbursement will be provided to you in silver coins that you can place directly into your IRA account. Following the first year of storage fees, the exact fees that you pay for storage depend on the custodian company that you partner with.

How to Open an Account with Goldco Vs Lear

When you want to open a Goldco account, you can either fill out an online application or contact Goldco directly. While you create your account, you will be tasked with providing a substantial amount of personal information, the primary of which is a social security number. If you currently have a custodian company that you’re partnered with, you’ll need to provide Goldco with this information during the application process. If you still need to set up an account with a custodian company, Goldco will assist you with this process.

Before you determine which metals you’ll place in your IRA, Goldco will send an extensive guide about your many options for precious metals. You can choose to receive this guide through email or standard mail. Keep in mind that the minimum amount you’ll be required to invest into an IRA account is $25,000 if you want your account to be approved. Once you have provided the requisite information, your account should be approved in short order.

If you decide to open a Lear Capital account, the in-house IRA Processing Department will help you create a precious metal account. This is a simple and straightforward process that will involve you providing some personal information that will allow your account to be approved. Once your account has been opened, Lear Capital will help you place your current IRA funds into your new account.

Each customer is then partnered with a personal representative who will provide assistance in identifying which gold coins you should purchase. When you have made your choices, you’ll have exactly 10 minutes to go through the checkout process before the gold prices change. The gold will need to be paid for within 48 hours after purchase.

Which Account is Best?

While both Goldco and Lear Capital are great options for anyone who would like to invest in a gold IRA, Goldco is likely the best option for your money. They have a Better Business Bureau rating of A+ and have a customer rating of 4.93 out of 5.0, which is among the highest in the industry. Goldco offers a suite of services that will provide for your every need as you invest in a gold IRA. Likely the main benefit of using Goldco is that their services can be customized, which is more advantageous than the one-size-fits-all approach. The IRA planning services available through GoldCo will help you reach all of your retirement goals. Call us today to learn more about Goldco and why it may be the best option for you.

 

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