Precious Metals, especially gold and silver, are great for portfolio diversification and can be used to hedge against market volatility as well. The popular method of rolling over a 401k to a gold IRA is a great way to both invest and plan for a safer retirement. Now the question is, how do you establish an IRA-gold investment? Visit our website and learn more about gold ira llc.
After the Tax Payer Relief Act of 1977, physical precious metals were allowed to be added to an IRA. Gold, silver, platinum and palladium are the permissible materials in a IRA that is gold. The gold IRA does not allow for rare coins and collectible silver coins. Your precious metals broker will help you choose the right metals for your portfolio.
It is a smart idea to establish an IRA first before making a decision regarding which metals you wish to buy for your Self Directed IRA. It is a good idea to contact your current custodian for information about adding physical metals to an existing IRA. You may not be able to invest in precious metals if your current account has specific guidelines or IRA plans. Once you have completed the 401k rollover, you can open a new gold IRA.
Your broker will assist you in selecting a custodian specializing in handling gold IRAs. Once your broker has chosen a custodian, you will need some paperwork. This will include information such as the amount you plan to roll into the new account and the names of any beneficiaries.
Typically, it takes between 3-5 working days to setup an IRA-gold investment. Once the setup is complete, you are ready to choose and place the metals into an IRA account. Only certain products are permitted in an IRA. Your broker will be able to tell you more.