Simple Advice for First Time Gold Buyers

Congratulations…You have decided to begin investing in physical gold. While the notion of buying and holding physical gold coins, bars or rounds may seem daunting to new investors, in reality the process is quite simple. If you are just beginning your journey on the road to a more secure financial future, the following simple tips will make the process more convenient and enjoyable:

Make a Plan: Physical gold ownership should be viewed as a process, and not simply a one and done endeavor. We recommend giving some serious thought as to how much of your investment capital you’d like to allocate to physical gold and how you wish to invest it. For example, let’s assume you decide to allocate 20 percent of your retirement savings to physical gold. To follow through on this plan, you should allocate 20 percent of any IRA contributions directly into physical gold. Perhaps you have an old 401k with a significant amount of money in it. You can also consider rolling that plan over into a precious metals IRA, with your desired amount being used for gold purchases.

Don’t Worry About Prices: Physical gold ownership is a journey, and your goal should be to acquire as many total ounces as you can. That being said, the price of gold can and does fluctuate. This is to be expected, and your focus should never be on short-term gains or losses but rather long-term wealth building.

Keep it Simple: When you are investing in physical gold for your future, we recommend keeping it simple. Stick with common and highly liquid gold coins and bars, and don’t worry about getting involved in rare or numismatic coins. Focusing on the basics such as gold American Eagles or one ounce gold bars will get you more gold for your money.

Consider Using an Existing or New IRA Account: Did you know that you can buy and hold physical gold within your IRA account? Doing so may have several advantages, including the potential tax benefits associated with an IRA account as well as secure storage in an approved depository.

Consider a 401k Rollover: Have an old 401k from a previous employer that is just sitting idle? This may be the ideal way to begin allocating into physical gold. An old 401k may be rolled over into a precious metals IRA account, and putting those assets to work in physical gold may get you off to a good start.

Keep Some Gold Accessible: While we recommend keeping the bulk of your physical gold in an approved depository, you may also consider keep some gold easily accessible, in a home safe or nearby safe deposit box.

Work With a Trusted Partner: There are numerous gold dealers doing business today, and who you choose to deal with can have a significant impact on your overall experience. Look to work with companies with positive reviews, who can assist you in using your IRA account or rolling over a 401k account. A good dealer should also take the time to educate you on the potential benefits of physical gold ownership, and walk you through the entire process from start to finish.

When done correctly with a reputable company, the process of investing in physical gold has never been simpler and more convenient than it is today. All it takes to get started is a phone call.

Don’t wait for the price of gold to rise further before exploring your options. Pick up the phone and speak with an Advantage Gold account executive today. Our professionals will take the time to understand your needs and objectives, and will help you formulate a plan to begin building your precious metals holdings today. Call us at 1-800-341-8584 to get started now.

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