An individual retirement account (IRA) is a savings vehicle that allows investors to invest in various assets, such as precious metals like gold and silver. Some people choose their IRA for this purpose alone. Remember to store physical precious metals held within an IRA at an IRS-approved depository – keeping them at home would count as a distribution, potentially incurring taxes and penalties. What is an IRA? An individual retirement account (IRA) is a tax-deferred savings plan that offers investors...
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Gold cannot be confiscated is an urban legend propagated by bullion dealers seeking to maximize profits, yet there are steps you can take to safeguard your precious metals. Keep your gold overseas. Governments find it harder to enforce asset confiscation laws on foreign entities, making court battles more likely for ownership disputes between those entities and claimants that are spurious or improperly claimed as more difficult. What Kind of Gold Can’t Be Confiscated? One reason people invest in gold is...
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Gold is highly liquid and boasts a robust market. Furthermore, it can withstand even extreme financial turmoil without incurring penalties – unlike stocks or IRAs which can be liquidated at any time without penalty. Digital gold is far safer than physical assets like jewelry and coins which can easily be lost or stolen; moreover, its buyers don’t have to adhere to business hours; transactions can take place anytime of day online. Liquidity Liquidity is a crucial consideration for investors looking...
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Gold-backed IRAs are individual retirement accounts that enable investors to invest in physical precious metals, but require access to IRS-approved precious metals as well as storage facilities with appropriate security standards. Investors investing in gold IRAs typically pay higher fees compared to other forms of IRA accounts, including an account setup fee, custodian fee and storage charges. Taxes With the weak economy and fears of currency collapse, investors are reconsidering their financial priorities and seeking alternatives such as gold. Unfortunately,...
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From a tax point of view, it may be possible to do a partial rollover from your 401(k) into an IRA; however, direct rollover – in which two accounts held by one financial institution transfer directly between their trustees – would be the more tax efficient way. By opting for this strategy, 20% of distributions won’t need to be withheld for taxes and it also provides more investment options than some 401(k) plans. Partial rollovers are not taxable A partial...
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