Why a Gold IRA?
Many people are not aware of the fact that certain types of gold bullion can be purchased and held within an IRA account. In addition to gold, other metals such as silver, platinum and palladium may also be eligible. Although there are strict eligibility requirements and rules that must be adhered to, buying and holding physical gold in an IRA can have numerous advantages.
Here are three reasons why you should consider a gold IRA:
1. Potential Tax Savings
Funds invested in an IRA may potentially be tax deductible up to a certain amount. For example, if an investor puts $3000 in a gold IRA, then they may potentially be able to deduct that $3000 and not pay income taxes on it. In addition to that, gains that are made in an IRA may not be taxable until withdrawals are made. This can not only save money for investors right away, but if tax rates are lower at the time that withdrawals begin investors can potentially save even more. Of course, there are numerous guidelines that must be followed, and there are different types of IRA accounts with differing rules such as a traditional IRA and Roth IRA. Any questions regarding eligibility or tax requirements should be directed to your tax professional.
2. Storage and security are taken care of for you
According to IRS guidelines, physical gold bought in an IRA must be stored in an approved depository. Modern day depositories, such as The Delaware Depository, have state-of-the-art security measures in place as well as top-of-the-line accounting and custody reporting methods. You do not need to worry about transporting your gold or storing it. You can sleep well at night knowing that your gold bullion is safe, secure and accounted for. Regular monthly statements from your IRA custodian will keep you up to date on the value of your holdings.
3. A gold IRA may potentially offer protection for your retirement and portfolio
Gold can be bought for numerous reasons, and there are many solid reasons to own this asset class. Gold can potentially offer a meaningful hedge against inflation or a weaker currency. For example, if the value of the dollar declines significantly over the next several years or decades, then the real value of your investments is likely to be eroded as well. Because gold carries no counterparty risk and cannot be created out of thin air like dollars, gold may potentially hold its value better-or even increase in value-as the value of fiat currency declines. Of course, as a natural resource with finite quantities, the potential for significant price appreciation in gold also exists.
Although there are numerous other reasons to consider a gold IRA, the three outlined above demonstrate some of the major potential benefits of buying and holding gold in an IRA.
If you are looking to add real, hard assets to your holdings, now may be an ideal time to look into a gold IRA. The process of account setup and maintenance has never been simpler and more convenient than it is today.
Speak with an Advantage Gold account executive today about the potential benefits of a gold IRA. Our associates are here to answer your questions, and can guide you through the process from start to finish.
Don’t wait for gold process to rise further or for the next major stock market crash before taking action. Explore your options for gold ownership today.
For more information or to talk to an IRA advisor about how to rollover your 401(k) into a Gold IRA by opening a self-directed IRA account, contact us or call us at 800-341-8584 today.