"GOLD and SILVER are MONEY. Everything else is credit."— J. P. Morgan
What Is A Gold IRA?
A Gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner.
It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars. Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account.
Gold IRA Rollover
A Gold IRA rollover is where you move the funds and possessions of one of your IRA (specific retirement account) to another.
The main reason for a Gold IRA rollover is that your assets are gold bars or coins instead of paper money.
Benefits of a Gold IRA is that you can diversify your investment as a hedge against a market crash or inflation.
(The Internal Revenue Service (IRS) allows for one tax-free rollover of IRA funds each year and this rollover of the full amount of funds must occur within 60 days of removing the funds from your current IRA custodian's care to avoid penalty.)
Why Use Gold?
Paper money is just that, paper with dead president's faces printed on the bill in a green tint. Those bills are called fiat currency.
The value of fiat currency is dependent on the strength (economic) of the government that issues it (US Government), not its worth in gold or silver. In short, fiat money refers to any currency lacking intrinsic value that is declared legal tender by a government.
GOLD IS NEVER WORTH ZERO and is the BEST WAY to protect your assets.
You may be wonder why, if paper IRAs are so bad, why so many people are use them. The problem with paper-based IRAs is that the financial investments are depend on a fiat based money system - AND the value of fiat currency is dependent on the strength (read economic) of the government that issues it (The US Government), not a physical commodity like gold or silver.
In short, fiat money lacks intrinsic value and its value it determined by the government that issues it. Fiat money is derived from the relationship between supply and demand rather than the value of the material from which the money is made.
Banks and financial advisors claim security. However, the real determinate of the value of the dollar (which effects the value of all paper based IRAs) is how well the economy performs. A single economic downturn can come along and wipe out your whole retirement fund.
If you have an IRA set up by your company, then you likely have a paper-based one. These are the default IRAs that financial companies produce for workers. However, it isn’t that hard to change your IRA from paper to metal. It’s generally easier to alter the IRA once you leave the job or retire. However, you can modify anytime you want.
Speak to your employer and get the name of the firm you are dealing with. Contact them and inform the financial advisor that you want to change your IRA from paper investments to rare-earth elements, called a “gold IRA rollover.”
Gold You Hold
If you have a 401k, you can likewise move that cash into a gold IRA
So Who Should I Trust??
When comparing companies in any industry, it’s often hard to choose a number one. Although several companies may be okay, when it comes to important purchases such as a gold IRA it can make all the difference in the world to really understand the difference and choose the best gold IRA company to serve you well for a long time. For that reason, we offer this detailed comparison between Augusta Precious Metals and other gold IRA companies in this market. We hope this helps you gain confidence and understand why Augusta Precious Metals is the number one choice.
Let Augusta Precious Metals help you use IRA gold and silver coins to gain peace of mind by diversifying your savings. Let us show you why gold and silver are in such high demand! We want to be your gold IRA company.
Disclosure: Disclosure: The owners of this website may be paid to recommend Augusta Precious Metals. The content on this website, including any positive reviews of Augusta Precious Metals and other reviews, may not be neutral or independent.