Owning Gold in a Retirement Account (IRA)
Gold IRA options have been available since 1997, thanks to the Taxpayer Relief Act. The act explains that American citizens have been able to buy gold within their tax-deferred Individual Retirement Account (IRA) or Gold IRA. These are not paper shares, but actual physical gold coins you can own gold in an IRA account.
What types of retirement accounts can own precious metals?
If you have been considering a gold backed IRA, our experts can discuss the benefits with you. Any Roth IRA, SEP IRA, or traditional IRA can have gold investments. Any Individual with inactive employer sponsored plans such as 401(k) or 403B plans can setup a gold IRA rollover, and active plans can be moved in some cases at the discretion of the employer plan manager.
Benefits and performance
Traditional investment portfolios comprised of stocks, bonds, and securities can be some of the riskiest investment strategies, leading to financial devastation during times of hyper-inflation and currency devaluation. Retirement funds are, traditionally, the most vulnerable to market swings and are not backed or aided by the government in times of financial crisis. Precious metals have traditionally been one of the best means to protect your retirement savings against dollar devaluation and counter-party risk. Gold is a unique investment because it does not follow the market trends and has been shown to perform well in both bull and bear markets throughout history. As an example: Gold purchased in 1997 using IRA funds has given investors an average annualized return of greater than 30 percent of their original investment through 2009. Over the course of those 12 years both the economy and the stock market have seen their share of ups and downs. The dollar has fluctuated from both low to high countless times over. However, in the end, gold has remained steadfast as a reliable investment for your retirement account.
The first step is to speak with one of our precious metal experts. Our experts can analyze your current retirement holdings and help you strategize your move to diversify your portfolio with precious metals. You will choose to either roll or convert all or part of an existing qualified retirement savings account into one that holds precious metals. We can discuss options for a 401(k) rollover or setting up a new Gold IRA. Contact one of our experts today, and they can discuss your options while answering any questions you may have. We also recommend that you speak with your CPA or tax professional regarding any IRA investment.*
*(Tax laws regarding IRAs are complex, and, in some cases, ambiguous and open to interpretation. Republic Monetary Exchange cannot offer you tax advice. None of the verbal or written communication should be considered tax advice or acted upon for tax purposes. Before making any IRA investment decision, you should seek advice from your attorney or tax professional.)