A gold and silver IRA is simply a standalone individual retirement account that allows you to hold physical gold and silver. Similar to a traditional IRA account, any gains in the value of gold and silver are deferred for tax purposes until you withdraw them at retirement age. If you decide to invest in a precious metals IRA, you should do so conservatively. Depending on your financial situation, most experts recommend investing no more than 5 to 10% of your retirement savings in precious metals.
While there are fewer companies that offer gold IRAs than other types of IRAs, you still have multiple options. With your Gold IRA or Custom Precious Metals IRA, you’ll still have beneficiaries, receive quarterly account statements, and can sign up online to check your balances. Even if you open a Gold IRA, it’s important to note that you can’t fund your account directly with gold bars or coins that you own. If you want to invest in precious metals, a gold IRA allows you to combine the benefits of IRAs and precious metals investments.
A team of an IRA specialist and a senior portfolio manager helps you through the entire process and handles all the paperwork. Other things to consider when choosing a warehouse for your gold include the security of the deposit, the amount of insurance, and the cost of storing your metals. Once the money is received by the new self-governing IRA custodian, your Allegiance Gold representative will help you choose the IRS-approved coins and the custodian to store your precious metals. Precious metals like gold and silver in your retirement account can offer tax benefits by deferring taxes on gains until retirement or even making them tax-free forever.
The IRA custodian bank processes the payments and the dealer sends your precious metals to the custodian. Precious metals IRAs could be a viable option for some investors who are concerned about inflation and market volatility. While the traditional IRA, Roth IRA, Simplified Employee Pension (SEP) IRA, and the Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) are not subject to any rollover restrictions, others such as 401k, 403b, 457b, and Thrift Savings Plan (TSP) are eligible for a transfer if the person is over 59½ years of age or no longer works with their previous employer. If you want easier exposure to these investments without having to open a specific type of IRA or find custodians, dealers, and depositories, consider investing in securities such as exchange traded funds (ETFs) or mutual funds that track precious metal indices or prices.
Allegiance Gold can help you meet regulatory requirements, avoid tax pitfalls, and diversify with physical precious metals to stabilize your retirement portfolio. According to the IRS, gold and other precious metals must be kept in a retirement account in the custody of an IRS-approved custodian in a third-party storage facility until the funds are withdrawn when the funds are reached the predefined retirement age. Allegiance Gold offers a streamlined process with a senior portfolio manager and an IRA specialist to help you do just that.