How are you saving money for your retirement now that the financial markets have finally found some stability? Are you hesitantly starting to put money back into your 401k? Or are you digging holes in your backyard and filling them with whatever money you can scrape together because you don’t trust your 401k to help you grow your money like it promised you? If you fall into the latter category, you aren’t alone. Many people have lost faith in the markets when it comes to saving for retirement, which means they are missing out on a lot of the benefits that IRAs and 401ks have to offer.
Believe it or not, there is a way for you to be able to get the best of both worlds: save and you’re your savings through investing while protecting your money from the volatility of the financial markets. The answer is to open a gold backed IRA.
In 1997, the Clinton Administration passed the Taxpayers Relief Act which allowed ordinary individuals the ability to not only invest in traditional, paper backed securities, but in gold, silver and other precious metals as well. The reason that this is significant is because investing in paper backed securities like stocks, bonds and mutual funds allows you to save and grow your money exponentially while investing in precious metals offers you a hedge against losses. How? Gold, silver, platinum and palladium actually increase in value when other investments tank. By having them in your investment mix, your account value will remain stable no matter what the market conditions might be.
So, how do you put gold in an IRA?
Step number one is to call the experts at Goldco Precious Metals. Goldco Precious Metals is a leading gold IRA company. They offer you all of the information and guidance you need to get the most out of your retirement saving efforts including how to put gold in your IRA. As a matter of fact, it’s their specialty. Here’s what you need to know:
First, it is important to understand that all IRAs and 401ks have the ability to invest in gold and other precious metals just like they do traditional securities. However, the main obstacle to this is the manager of that particular portfolio. What this means is that when you open a gold IRA with Goldco Precious Metals, you can enjoy all of the same benefits that your current retirement account affords you. This is because they are the same types of accounts.
Second, because gold IRAs are just like other retirement accounts, they are recognized by the Internal Revenue Service as an account that is eligible for rollover. What this means is that you can transfer the money you have saved in your existing retirement account into your new gold IRA without the hassle of having to pay taxes and early withdrawal penalties. There are no penalties at all for rolling your money over into a gold IRA.
Third, gold IRAs not only offer you the same benefits as traditional retirement account, they also offer you one unique benefit. With gold IRAs, you don’t have to worry about your account losing value in the face of economic hardships. This is because gold, unlike traditional investments, doesn’t lose value when financial markets are down. This unique characteristic helps you protect your savings from loss.
Do you have gold in your IRA? If not, Goldco Precious Metals can help you out it there. Visit today to learn how easy it is to get gold in your IRA.