Many retirement savers choose to diversify their portfolios with physical assets such as gold IRAs. This helps them protect their savings against economic volatility and gives them the peace of mind that their savings won’t be devalued. But it’s important to do your research before investing in a gold IRA and carefully vet any precious metals specialists, custodians or storage facilities you work with. Read more villagevoice.com
To buy gold in an IRA, you’ll need to establish a self-directed individual retirement account (SDIRA) with an authorized custodian. Your custodian will then purchase IRA-eligible gold from a reputable distributor and store it in an IRS-approved depository.
Choosing the Right Custodian for Your Physical Gold IRA
Unlike traditional IRAs, SDIRAs are designed to allow investors to purchase more than just stock and bond investments. But before you decide to invest in a gold IRA, it’s important to talk to a fee-only financial planner to make sure it’s a good fit for your portfolio.
There are plenty of companies that will sell you a gold IRA and there’s no shortage of online resources for learning more about this alternative investment option. But beware of misleading marketing tactics that may suggest you need to act fast or that you’re facing a potential crisis. A reputable dealer will be transparent about fees and will not pressure you to buy or sell. They will also have all the necessary licenses, registrations, insurance and bonds required to conduct business in your state and comply with federal regulations. They should also offer educational materials on how physical gold has performed historically.