5 THINGS TO THINK ABOUT BEFORE OPENING A GOLD IRA
Before you start diving in on how valuable a physical gold retirement account can be to help diversify your portfolio, you need to know the basic flow of opening one up and the steps and basic terminology involved. This page will be helpful
for you as you read through our BLOG POSTS to help further your education.
Remember – In order to become a fountain of knowledge on any topic, the journey always starts with absorbing information a drop at a time.
I always start with this question when one is considering a gold retirement account…seems simple, but very important:
1.) Why Gold?
First and foremost, why do you want to own it? Have you though about it? You need to. Have you researched it? You
need to. You need to have answers, both pros and cons, for this question. Its starts with education, we can help you
with that here at Gold IRAs 101.
2.) Know What A Self-Directed IRA Is. You Need To Open One FIRST In Order For You To Invest In A Gold IRA Or 401K.
There is plenty of information online about SD IRA’s and a lot of it is here. Research. Get a basic understanding of the how -to’s on this unique investment tool. Know the differences between these and a Traditional IRA.
3.) Where Will the Money Be Coming From?
Ok…you have researched opening up a SD IRA and have determined that a Gold IRA or 401K is right for you. Will you be using assets from an existing qualified retirement account or will you be opening up a brand new IRA? Both are
available options for you. Have you determined how much you should invest? The answer varies but it is common to use 10-15% of your portfolio assets as a starting point. NEVER put all of your funds in one asset class.
4.) Understand The Buying Process
First things first…
1.) You’ll need to find a custodian and transfer your funds to them. Your gold IRA’s custodian can be a bank, a brokerage firm, a trust
company, or a private company approved by the IRS.
2.) Choose a precious metals dealer and place your order.
3.) The dealer contacts your custodian to verify funds
4.) The custodian contacts you to confirm your order.
5.) Your dealer places the order on your behalf.
6.) Dealer notifies the custodian.
7.) You choose the storage facility you will use to hold your gold and your dealer ships your order to the facility.
8.) The facility verifies receipt of your metal.
9.) Once your gold is safely in storage, your custodian releases funds to your dealer.
10.) Your custodian credits your precious metals IRA account.
11.) The custodian ensures you invest only in assets the IRS allows and files reports with the IRS each year. They also check what you report on your own tax filings and make sure you are paying the right amounts.
This is too much for the average investor to try to complete and manage on their own without any guidance
Lucky for you, there’s an easier way.
5.) What Is That “Way” ? Choose The Right Gold Dealer And THEY Will Assist You With All Of The Above!
Once you decide that a Gold IRA or Gold 401k Rollover may be right for you and you, choosing the right company to
open an account with is critical. Look at the tab “Highest Rated Gold IRA Company” up above. This company is not
only our top pick but… many ,many gold other investor’s choice across the country and over seas as well.
We can recommend them with the utmost confidence as they have managed some of our employees gold investments over the years. This company will answer any questions that you have..with ZERO pressure to buy anything. We liked
that
Order an Investment Kit… check them out for yourself and come to your own conclusions.
Lets Get Started…
Now that you have a general idea about the process, we recommend that you dive in and watch our GOLD IRA INVESTING VIDEO (it explains why gold is so important in your portfolio in times of financial crisis) and then once completed move on to the BLOG POSTS.
Let the learning commence! It’s YOUR Future!