When making investment decisions, many people look to invest in An Individual Retirement Account (IRA). This type of investment offers tax advantages to people who use them to save for retirement. A Gold IRA is a self-directed account, investing in physical gold and other precious metals whilst benefitting the investor with tax advantages. With a regular IRA, you are not allowed to hold alternative investments. A Gold IRA, however, can hold alternative investments as long as they comply with IRS rules.
Gold IRA Storage
Gold IRA companies provide a marketplace for buying and selling physical gold. They also partner with custodians who handle the safe storage of your gold or other IRS-approved precious metals. A dedicated company will make it straightforward to establish your Gold IRA account. They will help you choose a precious metal custodian for storage and an insured depository. They can also help establish your account, fund the account, and facilitate retirement transactions. Storing gold and other precious metals in a self-directed IRA is a great way to diversify your investment portfolio.
Types of Gold That Can Be Stored
The IRS limits the types of gold and other precious metals that can be held in a Gold IRA. You can only hold IRS-approved products in your account. Gold must meet specific purity and other standards; for example, gold bars and rounds must be produced by an approved mint. They must be 99.5% pure. Gold IRA companies will help you to find precious metal products that are IRS approved and create the perfect account to meet your investment needs.
