A key selling point of gold IRAs is that you own the physical gold yourself. If that doesn’t matter to you, there are other ways to add exposure to precious metals to your retirement portfolio, such as buying stocks in gold mining companies. With an education team, a dedicated agent, and a video library, the company goes above and beyond to help its customers understand the steps involved in opening a Gold IRA. Augusta’s two major drawbacks are its limited selection of metals and the high minimum investment requirements for setting up a gold IRA
.
An IRA quality gold company only works with carefully tested, reputable external storage companies or secure depositories. In some cases, your Gold IRA firm sells IRS-approved metals, so you can buy your coins and gold bars from them directly. Administrators charge a commission to make it easier to buy or sell precious metals in a client’s gold IRA. Patriot Gold Group has a long track record of helping investors secure their financial future through gold IRAs, and has received high marks from consumer groups along
the way.
In addition, the new IRA is usually financed through an existing retirement account. Customers can then buy gold and silver via the company’s order desk. The members and staff of this team have years of experience dealing with gold IRAs and have valuable insights into new issues and trends surrounding the precious metals market, which can help clients make the right decisions at the right time. Customers who buy gold and silver outside of an IRA will continue to receive advisory and management services from the firm. Gold IRAs can contain all 4 precious metals that the IRS allows for gold, silver, platinum, and
palladium.
Like a traditional IRA, a gold IRA allows pre-tax contributions, and investment income can then be accumulated tax-deductible. Once you reach 72 years of age, you must receive the required minimum distributions (RMDs) from a traditional gold IRA (but not from a Roth IRA). Gold and silver purchased through a precious metal IRA must be stored in an approved bank or custody account
.
