A gold IRA is a self-directed retirement plan that allows you to invest in gold and other precious metals. With an IRA, you can take advantage of tax benefits and roll over your 401(k) or other qualified retirement plan into an IRA.
While there are many different types of IRAs, the most common is the Roth IRA. You can also set up a traditional IRA or SEP-IRA, but those are less flexible than a Roth account.
What Is a Gold IRA?
A gold IRA (Individual Retirement Account) is similar to a regular IRA account in that it allows you to save for retirement with tax breaks. The difference is that you can use your IRA to invest in gold, silver and other precious metals instead of stocks and bonds. This helps diversify your portfolio because gold has historically been an effective hedge against inflation and currency devaluation.
You must be over age 18 to open a traditional or Roth IRA account and contribute money each year until you reach age 70½, when you must begin taking out distributions (unless your account balance is too low). You can also roll over assets from certain qualified retirement plans like 401(k)s into an IRA — check with your employer if they offer this option and find out if there are any fees or restrictions.
How To Do A Gold IRA Rollover?
You can do a gold IRA rollover by opening an account with one of our custodians and providing them with a completed Form 8606. Once that’s done, they’ll send you instructions on how to move your assets into their custody. If you already have an IRA or other qualified retirement plan, contact the company where it’s held and request instructions on how to move those assets into an existing IRA account or establish a new one.
Best Gold IRA Rollover Companies?
It’s important to note that not all gold IRA rollover companies are the same. Some custodians may offer different products and services than others. Goldco is a full-service custodian with a wide range of gold and silver products, including coins and bars. They also offer a variety of IRA options for investors looking for the most flexibility possible as you can see from this review of Goldco.
It’s important to note that there are many different types of gold IRAs. If you want to learn more about the differences between them, contact a company like Goldco and ask for additional information on their products and services.