Anyone who is serious about safeguarding his or her retirement nest egg should seriously consider rolling over to a gold IRA. Gold has, overall, continually risen in value over the past few decades. Unlike paper currencies, its value is intrinsic, as a government cannot manufacture more of this precious metal to get through difficult financial times.
These are the best reasons to have a gold IRA for anyone of any age. No matter how much money a person has in an IRA account or how long one has to go before retirement, these points should be taken into account when deciding how to safeguard hard earned retirement cash and investments.
You Control Your Assets When You Roll Them Over
Precious metal IRA accounts, unlike traditional accounts, are self directed. This means that they are under the full control of the investor, not his or her employer. While a person will need to hire a custodian to handle the account, the investor decides which type of gold to purchase and when to purchase it. Furthermore, in many cases an investor can not only store gold in such an account but also silver, gold and/or silver ETFs or even other paper investments, enabling a person to build a truly diversified account for future use.
Current Economic Conditions are Ideal for Gold
The price of gold is currently lower than it has been for a long time, providing a golden opportunity for anyone who wants to buy gold to do so. However, a person should not assume that gold will always remain low in value; the world economy is far from stable, which means that it is very likely that the price of gold will skyrocket in the future, making it impossible for anyone but a very wealthy investor to purchase this precious metal.
If you make the switch now and buy gold, you stand to turn a large profit in the near future. This profit will provide you with a secure nest egg that can be used throughout your retirement.
Protect Your Retirement
Anyone who wants to life a comfortable life upon retirement should not count on Social Security or Medicaid. It is a well known fact that the United States government is trillions of dollars in debt and there are no guarantees that these programs will be around in the future.
If you want to protect your retirement, it is time to take matters into your own hands. Instead of counting on government care or even government issued dollars (which are now bring printed in overly large quantities), invest in a precious metal that has been considered valuable since the beginning of time and is not under the control of fickle politicians.
IRAs are a Very Safe Way to Own Gold
While there are many ways in which one can purchase and store gold, IRAs are one of the safest options. Gold stored at home can be easily stolen; gold placed in a bank safe will be inaccessible if the bank faces a crisis and shuts down unexpectedly. Storing gold at a “gold bank” run by a precious metals dealer also has its risks. A gold IRA, on the other hand, is very safe. This gold is stored at a facility that is completely impregnable to robbers and burglars. A person can access his or her gold with no problems as soon as he or she retires or reaches retirement age.
Storing gold in an IRA also helps to drastically reduce the amount of tax that you will have to pay on the gold when you sell it. If you buy gold now and then resell it, you will need to pay a substantial tax on the profit you make. However, because your retirement income is much less than your regular income, your overall tax rate on any money you make will be quite low.
Rolling Over may be Simpler Than you Think
There is a common misconception that rolling over to a Gold IRA is complicated and risky. While you can lose money if you do it wrong, rolling over to a gold IRA is actually very easy if you hire an experienced broker to do the work for you. The only thing you need to watch out for is withdrawing the money and then putting it in a gold IRA. You do not want to do this, as you will then have to pay heavy penalty fees for pulling the money out of a conventional IRA before retirement. However, a good, experienced broker will ensure that all your investments are rolled over to the new account instead of withdrawn and then re-deposited.
If you are looking for a safe, stable investment that will not only be reliable and risk-free but also turn a substantial profit, then you will find that gold is your best option. You can either purchase bars or bullion coins to store in your IRA account; both forms of gold are reliable and make good investments. Take the time to find a reputable precious metals seller to work with, determine how much money you want to invest in gold on a monthly or yearly basis and then work out the purchase and shipment of your gold with both the seller and your gold IRA custodian. Switching over to and managing a gold IRA is not difficult and will provide you with a reliable nest egg that you can count on both now and in the future.