How to open a precious metals IRA Select a self-directed IRA custodian. Your self-directed IRA is in the hands of a custodian. Next, select a precious metals dealer. You have the right to invest qualifying retirement funds held in an IRA or 401 (k) in physical precious metals, but these investments aren't available through your current IRA or through the depositary of your 401 (k).
Thanks to an IRS loophole, you can open a self-directed IRA and transfer a portion of your retirement savings, tax-free and without penalty, to be used in the physical purchase of gold and silver. Our IRA experts can explain to you the ins and outs of a self-directed Gold Alliance gold and silver IRA, including the process to open one. Once you've opened a precious metals IRA, you can transfer funds from your current qualified retirement plans (such as your traditional IRA, Roth IRA, 401 (k), 401 (k), 401 (a), 403 (b), 457, savings and annuity plans) to your self-directed IRA account. The account will be in your name and under your full control.
Gold Alliance does not hold your funds or precious metals and cannot operate on your behalf without your written consent. We've been in business for 20 years, so our team knows how and will make sure to eliminate the possibility of errors in the transaction process. The best way to ensure that you make your transfer or reinvestment correctly is to call one of our precious metals IRA experts for a free consultation. And by investing in gold through a precious metals IRA, you get the same tax advantages as a traditional IRA, but with the added security of owning physical gold.
Congress created the possibility of using gold and other materials as securities in an IRA in 1997, says Edmund C. If you want to open a gold IRA to diversify your investment portfolio, protect yourself against inflation, increase your long-term wealth or achieve another investment objective, be sure to compare your options first. In some cases, your gold IRA company will sell IRS-approved metals so you can buy your coins and ingots directly with them. When you turn 72, you'll be required to accept the minimum distributions (RMDs) required from a traditional gold IRA (but not a Roth one).
Opening an IRA in gold may seem daunting, but it's actually quite simple, especially with the help of precious metals experts. The best way to take advantage of a gold IRA is to use it as an accumulation vehicle as part of a broader and more diversified investment strategy. IRA companies with gold can vary widely, and choosing the one that best suits your investment objectives is critical if you want to ensure a comfortable and hassle-free retirement. For that reason, a growing number of retired investors are turning to gold IRAs to diversify and protect their portfolios against market volatility and inflation.
A gold IRA is a specialized, self-directed individual retirement account designed to store precious metals. Gold IRAs are normally defined as “alternative investments”, meaning that they are not traded on a public exchange and require special experience to value them. A quality gold IRA company will only work with reputable and reputable external storage companies or with secure custodians.