When President Nixon took the United States off the gold standard the printing controls for paper money was removed as well. Since then, paper currency is being printed at an alarming rate with no gold to back its value. This, coupled with the national debt, can lead to devaluation of the dollar which is what is currently happening. Like the situation many found themselves in in 2008, your retirement account, based on paper currency only, will devalue as the dollar declines and will be worth much less by the time you need to use it. If you don’t want your entire life savings to take another hit, you will want to take proactive action NOW. One way to ensure that a portion of your retirement retains its total value is to switch a good portion of your IRA into gold.
The stability of having precious metal in your IRA account will protect yourself and your family against foreign pressures, resulting from huge numbers of treasury bonds being held by other countries, dragging down your retirement account value. Switching into a Gold IRA can protect your retirement asset against paper money devaluation that is certain to occur in the next one to two years; certainly by the close of 2016. Basically, a gold IRA is a self-directed IRA with physical gold as part of your portfolio. Most millionaires do this as part of routine wealth protection because they realize the value of gold and silver. You can do this as well. You can transfer all or part your plan from cash to gold IRA investing as long as the transfer goes from one custodian directly to another custodian.
There are several investors and brokers who can set it up for you. Some have been investing in gold for decades and know exactly what they are doing. You will want to be sure the company you select to help you is highly recommended and has been specializing in gold IRAs for a long time. You can rollover an old 401k, 457b, 403b, pension plan and annuity or thrift savings account into a precious metal IRA. It is usually tax, penalty and hassle free as long as deposit distribution of the account goes into a new custodial account within 60 days once per year. There is a lot to the process if you don’t know what you are doing, which is why you need a reputable company to help you set everything up. Current 401k retirement accounts are a bit more complicated and your eligibility depends on if you are still employed by the same company. Definitely educate yourself and get competent guidance on that process if you are considering a gold 401k rollover on a current account.
Precious metals, such as gold and silver, tend to either retain their value or increase in value when other currencies plummet or fail. Although gold will fluctuate smoothly as the economy floats, the overall trend is up, which is why gold has stood the test of time and has been used as currency for literally thousands of years. Fortunately, we are in one of the down fluctuations making a gold IRA a huge bargain. We have a perfect financial storm forming with paper money about to start losing value and the low gold prices will only increase. Putting a portion of your retirement savings into gold will insure that you will have assets when you need them most. You work hard for your money so it makes good sense to protect it. Look into the possibility and see how it can work to stabilize your future finances in an unstable financial climate.
Thanks to the many ups and downs of both the real estate and stock markets, a number of investors are now looking into branching out into other investment opportunities. One option increasing in popularity is a Gold IRA. Although gold tends to vary in value over a period of time, it never loses much of its value, and gold offers many benefits not seen with other investment vehicles. If you have been looking to diversify your portfolio and solidify your wealth, now is the time to consider investing in precious metals. Here are some of the benefits you may expect to see with gold ira investing.
Supply and demand plays a role in the value of any investment. When homes were abundant, prices dropped considerably, leaving many investors with a mortgage that they owed more on than the home was worth. Stocks that once were coveted by many became easy to obtain. This will never be the case with gold and other precious metals as there is a limited supply of these natural resources which only continue to increase in demand. Gold is used in a variety of products, not just jewelry. If you own electronic devices, one or more likely have gold in the components. As gold becomes harder to find, the price will only increase, benefiting your investment portfolio.
Gold tends to increase in value when other assets are dropping in price, and gold offers protection against inflation. Governments tend to become involved when the housing market witnesses a decrease, as seen by the current housing crisis. The federal government adjusts the interest rate, based on various market conditions and other factors. With gold, they have little to no control over the price as the price fluctuates based on supply and demand and, as mentioned above, these desired precious metals have a limited supply, leading to higher prices.
One has the option of using gold as currency in the event paper money becomes worthless. Many believe this will never happen, yet those who remember World War II will disagree. There came a period in Germany’s history where their money was so worthless, the paper it was printed on was worth more than the actual value of the money. Employers paid their workers more than once a day in an effort to keep up and consumers would carry their paycheck home in wheelbarrows or to the store to pay for goods. If the money becomes totally worthless, as Confederate money did after the Civil War, people may find they have no way to pay for essentials. With gold, this won’t be an issue as one can trade the gold coins for items needed, due to the metal’s ability to hold its worth.
Although these all seem like great reasons to consider investing in gold, one shouldn’t rush out and purchase gold coins for inclusion in an IRA. The IRS has very specific rules in place when it comes to a gold 401k rollover and other gold IRA investment options. The investor needs to understand what these rules are, what may and many not be included in the IRA, who must hold the precious metals, and more. For this reason, it’s best to find a reputable company, one with a proven track record, to work with. Doing so helps to ensure the investor obtains the maximum benefit from his or her precious metal investments at all times.
Adults spend many years looking forward to their retirement, yet the retirement years are now scarier than ever. Thanks to uncertainty about the future of America’s economy and social security, fluctuations in the stock market, and rising inflation, many adults wonder if they will ever be able to quit working. With the help of a Gold IRA, a person can protect their wealth and prepare for the future, no matter what the American economy and its many markets choose to do. If you aren’t familiar with Gold IRA investing and the benefits of a Gold IRA, now is the time to learn. Here are the basics you should know if you are thinking about investing in gold.
An IRA, otherwise known as an individual retirement account, is a way to keep one’s investments in a single place. This includes not only precious metal investments, but also stocks, bonds, and mutual funds. Some IRAs also allow for real estate investments and other investment options. IRAs come in many forms, including SEP, Roth, and SIMPLE versions, along with the traditional IRA, and one now has the option of investing in a Gold IRA. Many are choosing to take this option as this type of IRA tends to be more lucrative and stable over the long run, a concern of those preparing for retirement.
Investors who choose to invest in precious metals find there are a number of benefits to doing so. Gold continues to increase in value, especially when other assets are decreasing, and the law of supply and demand comes into play. Unlike most investment assets, there is a limited supply of gold and silver in the world. As this supply decreases, the value of the precious metals goes up, benefiting the investor. Gold may also be used as currency when necessary.
If you feel a gold 401k rollover is the right option for you, you’ll need to ensure you understand the basics of this type of IRA. Some companies offer this investment vehicle, but not all do, so your first step will be to see if your current investment firm allows you to invest in precious metals. If not, you’ll need to find a new company. Next, you must determine which items you would like to include in your portfolio. Before rushing out to purchase gold coins and bullion, learn what the IRS permits in this type of IRA, as there are very strict rules regarding what items may be included in a Gold IRA and what items are prohibited. Although your investment firm should be able to assist with this, it’s your money so you should always do your own research.
You will also need to choose a custodian as the IRS won’t allow you to hold the items to be included in the IRA until age 591/2. They must be stored by an IRS approved third party custodian. Some companies offer this option, but not all do, so again you must do your homework. Once you have determined what to include in the IRA and where to store the metals, you’re ready to begin the process of rolling over a current IRA or opening a new one. Don’t delay. The sooner you do so, the sooner you will see your retirement fund grow in ways you previously only dreamed possible.
With the existing economic environment as it is, finding a stable, trustworthy, and certified, agency to provide investment advice can be challenging. Additionally, gold and precious metal investing is increasing in popularity; however, caution is essential when placing your future with some unknown entity with its own profit program. When retirement and savings plans are involved, you don’t have to take unnecessary risks; all that is needed is to carry out your due diligence investigation before making a financial commitment. This is of particular importance when the investment involves precious metals in your funded retirement account.
Gold backed Individual Retirement Accounts (IRA’s) have been doing very well compared to other investments this year: opted for by many as a better choice over standard retirement plans. With an increasing number of people relying on precious metal IRA’s to keep the value of their retirement funds safe, it is necessary to select the most reliable and value added Individual Retirement Account strategies. Look at the top Gold IRA firm for your “due diligence” and just what is in their programs and how it impacts your future.