The Reasons Why The Gold IRA Is So Popular Right Now
Since investing in gold at the present moment is considered by many to be a wise move to make, one method of doing this is to open a gold IRA as a simple and advantageous way to invest in this metal, along with other forms of gold investments.
If you aren’t aware, a gold IRA does allow you to hold actual physical gold, rather than just paper investments such as ETFs etc.
There are other precious metal options allowed as well such as silver, platinum and palladium.
Gold and silver have typically been used to protect a person’s investments from some of the economic uncertainty that is usually taking place when gold and silver are on the rise. They’ve also been known as a nice addition to any portfolio looking for well-rounded diversification and long term security.
Potentially Huge Spikes in the Price!
Some people have begun to wonder as they see the price of gold dropping some, and then there are some investors and experts proving strong cases for why gold could soar, and potentially go up to $5000 an ounce.
Now that there are so many people looking to own this physical precious metal, it only makes sense that they would want to put it into an IRA to help prepare themselves for their future retirement. Lots of retirement plans have taken some huge hits in the last few years, while those who have invested in gold are quite happy, especially those that got into it 5-10 years ago, or even further back for that matter.
And since so many different people just don’t have the extra discretionary capital to spend on this precious metal, it also makes a great deal of sense to use the retirement money that you are already putting away as the vehicle to handle all of your gold investments.
401k Rollover – IRA Transfer
One of the best ways to start a gold IRA is to roll it over and transform it into what is known as a self-directed gold IRA.
You have to do it this way because your 401k will not allow you to own precious metals of a physical nature, so you have no other choice but to transfer it or do a 401k rollover to this specific IRA that allows you to own physical gold inside of it.
You do also have the option to transfer your existing IRA into a gold IRA, and the beauty of a self-directed gold IRA is that you aren’t restricted to holding only precious metals in that account. As aforementioned, you have all the options of a typical IRA, with the added precious metals. You also receive the nice tax benefits involved with an IRA.
You can even add gold to a Roth IRA!
No Worry About Storage
Plus it’s a very smart way to get physical gold into your possession as it’s an especially safe and sound way to go about it without putting any unnecessary risk on yourself that you don’t need to take such as transporting and storing it on your own, as they will take care of all that for you.
You can even go and have a look at it if you want. If you are a regular investor, then you are well aware of the boom in the value of precious metals at the moment, and in particular gold and silver.
You Call the Shots in a Self-Directed IRA
So it obviously makes perfect sense for somebody who is already interested in investing to want to create a self-directed gold IRA in which they can invest in the precious metals that they personally want to own and manage the whole thing on their own so that they don’t have to rely solely on the advice of somebody else who may or may not have their best interest at heart.
If you want to go ahead and read about a great company to look into for this, here is a little bit about a nicely established gold IRA company that can handle the whole process, and has a precious metals inventory.
More About Gold.
For further reading on gold we have some pretty eye opening information about this precious metal, some compelling reasons for you to think about this and numerous points why you may not want to wait very long to add some gold into your investment portfolio.
This post here contains a video that speaks of the real purchasing power of gold, in comparison to world currencies, such as that of the US dollar, and offers a real sense of the true value of gold, with it’s buying power, when you take inflation out of the equation.
This will really educate you about gold and you’ll be able to really see for yourself what the big deal about this commodity is. This free investment kit is well worth the effort alone.