Gold Backed IRA
Gold Backed IRA is a type of a valuable metals IRA that has been available to all US citizens with a IRA since 1998. With regards to the federal regulations, a person may opt to fund his or her IRA with valuable metals instead of using the United States Dollars. However, the metals used to fund the IRA must come from the federal government approved list. Gold, platinum and silver are just but a few of the precious metal on the approved list.
There are several things which make the gold backed IRA exceedingly different from all the other investment plans. For beginners, gold backed IRA is self-directed. This in turn means that the decision is made entirely by the account holder. Since gold does not exist in the digital world as stock does, gold backed IRA presents you, the investor with the opportunity of keeping physical gold and then arranging for the storage of the gold through an investment firm referred to as trustee or custodian by the IRS. A great example of such a company is Regal Assets. If you decide to store your precious metals in an investment firm, your fees for the first year are waived then a flat fee of $250 yearly.
Why Should You Invest in Gold?
Unlike other investment opportunities, Gold is among the few investment options that have an edge over the falling value of the U.S. Dollar or the stock market. Furthermore, when uncertainty or panic kicks in, people tend to turn to gold because it is mostly viewed as a safe store of value. Thus, people tend to shy away from the dollars, which are susceptible to inflation or stocks which may lose value within seconds.
You might have noticed the spectacular rise in value of gold over the last 10 years which concurred with a stock market triggered recession in the year 2001 and 2007. The stock market lost almost half its value at one point while the dollar also suffered a much similar fate. Due to the downward spiral and the volatility nature of the stock market and the dollar, the value of gold has dramatically increased from an approximated $300 to a peak value of $1,896 in the year 2011. However, gold has since retreated from the peak, but it still remains right above the $1500 mark.
Is Gold Backed IRA an Ideal Investment Opportunity?
If you are looking for ways to keep inflation away, maintain the value of your money and possibly benefit from a gold upside in the near future, then a gold backed IRA is unquestionably what you need. Gold backed IRA is not exceedingly complicated and in fact it involves less decision making. Like any other investment opportunity, gold backed IRA has its down sides. The growth potential is not as high as the one that is based on stocks, because it is somehow difficult to predict how gold will do in the next 10 years.
There are specific types of gold and bars which can be held in one’s IRA account based on the regulations stipulated by the IRS. The most popular bars and coins recommended include;
- American Buffalo Gold-Coins
- Canadian Maple Leaf-Coins
- PAMP Suisse Gold-Coins
- American Eagle Gold-Coins
The fitness requirements for the metals are as follows;
- .9995 platinum
- .995 gold
- .9995 palladium
- .999 silver
Why is Regal Asset Preferred Over Other Companies?
- For IRA custodians such as Regal Assets, experience in handling of IRA’s is the most important consideration. This is exceedingly important because these firms are going to handle funds which are going to support you in your retirement years. Preservation of Assets is also another important consideration. With the continued explosive nature of the financial markets, investment firms which act as safe havens which ensure the preservation of assets are what most future retirees are looking for.
- Regal assets put the needs of their customers first. They are currently, the most highly reviewed and rated IRA investment firm. Additionally, they are performing much better than other investment firms that have been in existence for more than 20 years. Reviews and testimonials given by other customers are exceedingly important. Before setting up an IRA account, it is highly advisable to do some extensive research.
- When purchasing the precious metals, it is very important to have the ability of liquidating your precious metals whenever you need to access your investment. Unlike other custodians, Regal Assets does not charge its clients additional fees when they try to sell their investments. The firm wants its clients to make as much profit as they can.
- Lastly, Regal Assets are highly experienced when it comes to gold IS and Gold IRA investment.
Steps Involved in Opening an IRA Gold Account
- The first step is to visit the firm’s official website www.RegalAssets.com
- The second step is to fill out the free gold kit request form.
- A specialist will contact you and send the kit by mail. The company also has a digital version of the kit. You can ask for it via the phone.
Once the kit arrives, you will receive the following;
- A Forbes special edition
- A documentary DVD
- Brochure on the history of gold.
- Paperwork for opening an IRA gold account
- Brochure explaining the services offered.
With that said, it is highly recommended to take a look at the kit from Regal Assets. Alternatively, you can also choose to talk to them via phone and listen to what they have to offer. Considering, you have understood the importance of possessing a gold IRA, it is very important to ensure that the company you will select will be reliable in safeguarding your savings. Regal Assets is highly recommended due to four main reasons i.e. customer service, storage fee, reliability and transparency. They not deliver their promises but also ensure that all their customers are satisfied with their services and end product.