Need Help With Your Gold IRA?
Hi, I’m Doug, and I created this site to share with you a lot of the information I have gathered over the years about Gold IRAs. This includes the benefits of including Gold in your retirement plan and a step by step guide on how I set up my own Gold backed IRA.
I am starting by answering some Frequently Asked Questions, those that I get asked the most, and concluding by sharing with you information about the best of the Gold IRA Companies that I have come across, and whom I have no hesitation in recommending to you.
In addition I have included infomation about:
If you have any questions that I have not covered here then please feel free to contact me by clicking on the button above.
Gold IRAs – Frequently Asked Questions
A Gold backed IRA is a great way to leverage the long term, historically proven stability of gold to hedge and protect your retirement investment portfolio …and the good news is that it’s not that difficult to set one up! Below are the most common questions that I get asked.
What Is A Gold IRA?
Simply put, it is a self directed IRA that complies with IRS rules and regulations allowing physical gold to be included in it. This means that everyday folks can invest in gold to protect their Golden Years.
Can You Only Include Physical Gold?
No, in addition to gold you can also hold silver, platinum and palladium in this type of IRA.
Are There Any Restrictions On The Type Of Gold and Precious Metals That Can Be Included?
Yes, only certain types of gold and other precious metals can be held in a gold or precious metals IRA. Here are details of what can be included:
These types of gold coins, bars and rounds that can be included in an IRA are determined by the 1997 Tax Payer Relief Act.
Can Other Forms of Gold Investments Be Included?
Yes, you are not restricted to just gold in its physical form so a gold ETF or stocks and shares in gold mining companies can be included too.
Can Other Types of Investments Be Included In a Gold IRA?
Yes, any of your other investments can be included and they don’t have to be gold or precious metals related. You have to have a particular type of IRA set up in order that physical gold can be held in it but it is not just limited to gold investments.
Can You Hold More Than One IRA?
Yes, there are no restrictions so if you wish you can have a gold IRA in addition to other IRAs, not instead of them.
Can You Transfer or Rollover an Existing IRA?
Yes. Any type of retirement plan can be transferred or rolled over to a gold IRA.
Your first alternative is a “transfer”. This is something you can do at any time with your existing plan as long as the assets go “from custodian to custodian.” In a direct transfer, the money flows directly from one custodian to another. This means the distribution check from the old custodian must be made out in the name of the trustee or custodian of the new precious metal retirement plan account that receives the funds. Transfers may be made as often as you want.
The second alternative is a “rollover”. A rollover occurs when “you” receive the distribution from your existing retirement account and then turn around and deposit it in another retirement plan custodial account. In this case you would need to re-deposit the funds into the new retirement plan account within 60 days. If the 60 day time period is exceeded, you would be liable for taxes and penalties on the money withdrawn. You may roll over the same money only once every 12 months to preserve the tax-deferred status of your retirement savings.
Do You Have To Transfer or Rollover The Whole Of Your Existing Plan?
No, partial transfers and rollovers can be easily done. This is a great way to invest just part of your retirement plan in precious metals, and in many cases, you can get exposure to Gold, Silver, Platinum, and Palladium with little or no out of pocket costs.
Are There Penalties or Taxes To Pay When Transferring?
No, there are no penalties or taxes to pay when you transfer a traditional IRA to a gold IRA.
Are There Lots of Fees To Pay?
No, that’s one of the advantages. Set up fees depend on the amount being transferred with a ball park figure being $250. Storage fees are also applicable and typically are around 1% of the total value of your IRA per annum. However certain dealers, such as the one I recommend will waive the set up fees and first year’s storage fees if you transfer more than $10,000 from your existing retirement account.
Can You Physically Hold The Gold?
No, you cannot take possession of your gold. It has to be held at an insured and IRS approved depository in your name until you reach the age of 59 ½, at which point you can take possession without incurring any penalties.
Is The Transfer Process Complicated and Time Consuming?
No, it is much more simple and straightforward that most people expect. The whole process can be completed in a couple of weeks provided that you work with a company that specializes in both precious metals and precious metals retirement plans. When I set my own one up I only had to fill in a single one page form. If you want to set up a gold IRA with the least amount of hassle I recommend you read how I set mine up step by step.
Why Invest In Gold To Protect Your Retirement?
Before reading any further I recommend that you watch this video:
There is unprecedented market volatility and uncertainty at the moment. The US National Debt is now around a gigantic $17 trillion and has spiraled out of control. If ever you needed proof of this take a look now at how it is increasing in REAL TIME…
To fully comprehend how damaging and shocking this is try and get your head round the fact that the US National Debt is increasing at over $3,600,000,000 per day or approx. $42,000 per second!
It’s not surprising that the value of the dollar is sliding. What’s more, the financial crisis in Europe is not getting any better and the future of the Euro is still uncertain.
While all this is going on the value of gold has continued to trend upwards. It has more than tripled in the past decade and for 12 years in a row, from 2001 to 2012, the price of gold increased.
Of course it bobbed up and down during that time and if you look at the price rise on a graph you’ll see that it’s a jagged line as opposed to a straight one, but the important thing is that the overall trend has been upwards. That’s the way it has always been historically too.
2013 saw the gold price pull back from previous highs (or ‘take a breather’ as traders say) and many are seeing this as a good buying opportunity (‘buy into the dips’).
Why the surge over the past decade? Because gold has historically always had a negative correlation with stocks and the value of the dollar. When they fall, the price and value of gold goes up. When there is economic uncertainty the price of gold goes up. Throughout history people have always run to gold when times get tough. And gold has never let them down.
History has been repeating itself of late. Governments have been ploughing into gold, notably China and India in particular. The super wealthy have been doing the same. And the great news for everyday folk is that nowadays this opportunity is within everyone’s grasp. No longer is investing in gold a luxury confined to the rich and famous. It is easier than ever to buy physical gold and to include physical gold in your retirement plan.
People often ask me when is the best time to start investing in gold and I always say ‘right now’. I say that because I believe that gold is a long term investment. That is why it makes so much sense to invest in gold via an IRA and to leverage it to protect your retirement.
Any Other Benefits?
A transfer or rollover of part or all of an existing retirement plan such as a 401k to a gold or precious metals IRA allows you to invest in gold when you don’t have surplus funds available.
In other words rather than having to find the cash from somewhere to start investing in gold you can use funds that you already have locked away (and in many cases funds that are otherwise not performing very well).
How Do You Get Started With a Gold IRA?
Your retirement is important so it’s imperative that you get this right. You need to make sure your chosen precious metals Company is buying the coins for you in your IRA. You cannot buy these coins yourself because there is a specific procedure that has to be followed.
This is why it is essential that you work with a Company who is a specialist in both precious metals and the regulations governing precious metals retirement plans.
If you do not already have a custodian then any of the larger and more reputable precious metals Companies will be able to recommend both general and specific Gold IRA custodians to you. The custodian for your gold IRA has to be approved by the IRS.
What Are The Main Considerations When Choosing a Gold IRA Company?
Here is an excellent video I came across recently which answers this question in detail and provides some very good tips:
Reviews Of The Leading Gold IRA Companies:
Which Gold IRA Company Do You Recommend?
The Company that I use exclusively now for all my gold and precious metals dealings and the one I used to set up my own gold IRA is Regal Assets:
They are a California based organization with an excellent reputation who specialize in precious metals for the individual investor, and they have a dedicated Retirement Department specializing in rolling existing retirement plans into physical precious metals without any tax liablities or any other consequences.
I researched them thoroughly before I first started working with them and I have been more than happy with their service since I did.
Regal Assets have been in business since 2003 and feature prominently and favorably in most Gold IRA reviews. They were the only precious metals dealer to warrant a mention recently in the Forbes Investment Guide and they recently made it into the Inc 500 list for 2013 as the 20th fastest growing financial services company in the U.S. They are the only precious metals Company to be included in this prestigious list.
What I consider very important too is that Regal are rated highly by a number of independent business review bodies which are respected and reliable organizations who monitor Companies’ performances before they grade them. You can check out some information recorded about Regal Assets below:
Business Consumer Alliance (BCA): AAA Rating, 0 complaints registered in the last 3 years (BCA report)
Better Business Bureau (BBB): A+ Rating, 0 complaints closed with BBB in last 3 years (BBB Report)
TrustLink: based on 500+ Reviews (TrustLink Review)
I have made a video review of Regal outlining my experiences with them and the main reasons why I recommend them, which you can watch here:
If you are ready to get started, or you still feel that you require a bit more information then I recommend that you either visit the Regal Assets website or if you prefer, you can submit your name, email and phone number in the form below. Your contact details will then be sent over to the Regal dealers and one of their specialists will give you a call to answer all your questions, discuss your requirements and to make arrangements to send you one of their excellent complimentary Gold IRA Rollover Kits that were featured recently in Forbes Magazine. That will include their one page ultra simple application form.
One little tip I have for you here is to jot down all the questions you can think of as soon as you have sent in your contact details. That’s because one of the Regal specialists will get back to you pretty quickly and it would be a shame to miss the opportunity to get all your questions answered there and then when he or she is on the phone, since these guys really know their business!
If you’re already at an advanced stage in your research and you want to get started with your Gold IRA setup straight away you can simply follow the instructions on this link: IRA Account Setup
With all this uncertainty surrounding us (scroll back up to the US National Debt counter and take a look at how much it has increased since you last looked – it will shock you!) I sincerely believe that investing in gold via a gold IRA is one of the wisest decisions you can make right now.
Either call 1-855-855-6496 Toll Free now or submit your contact details to Regal Assets below:
What Is The Procedure For Setting Up a Gold IRA?
When I set up my own Gold IRA with Regal Assets this is how the simple and hassle free process worked:
It’s also worth mentioning that because I had in excess of $10,000 in my retirement account Regal waived all the set up fees and the storage fees for the first year, saving me around $300. This is a bonus they offer to all their clients. Visit Regal Assets website.