Chances are, your are looking to invest in precious metals using a portion of your 401k, rolling over your existing IRA to diversify your retirement portfolio.
A lot of people have taken the opportunity to put gold and silver in their IRA´s with the help of a specialized company.
This process is pretty simple:
- Open up a self-directed IRA account with some reputable gold IRA company.
- Fill out paperwork for your current 401k or IRA custodian funds transfer.
- Wait for 3-7 business days for the funds to be placed in your new IRA and get invested in precious metals.
There are several companies out there ready to help you on this process. The process is strictly the same on every company you decide to make a deal, but unfortunately, not all gold IRA accounts are created equal and you should take care of this. Please avoid mistakes, it will cost you money.
Converting Your 401k or IRA to Gold: Things to Consider
We have taken the time to analyze the top 5 gold IRA firms in the US, so we can help people make a decision on which option will provide them with protection and secure investment for retirement. However, before making a decision it is important that you do due diligence, which is why we are providing you with this guide today:
1. Fee Structure – Flat or Scaled
The companies that we reviewed had varying fees. Some of them charge more for admin fees for setting up while other charged more money for storage fees. The main things to be concerned about when it comes to these fees is whether or not they have scaling or flat admin fees. Regal Assets was one of the top companies that we found to have a flat fee while majority of the others scaled their fees as the accounts grew. It is important that you know what each company charges or you could end up spending a small fortune over the years.
Expert Tip – If a company is shady when it comes to their fees, they are not being transparent; you should stay away from them.
2. Precious Metals Storage – Where Will Your Assets Be Stored
When you get a gold IRA, a third party custodian holds your gold. You have no say so in which one, instead, the gold IRA company chooses this for you. This makes it crucial to check and make sure that their storage method is ideal.
When it comes to storage, there are two types’ available – segregated storage and co-mingled storage. We suggest going with segregated storage because your gold will be in a separate section than everyone else’s. We say go with segregated storage because usually it is better insured and the companies are reputable. However, it is more expensive than co-mingled storage so many companies do not have this option available and if they do you will have to pay an extra fee.
3. Rollback Program
It is important to know whether the company offers a buyback program and the rate that, they will give you. It is also important for you to be comfortable when doing business with them when you are purchasing gold as well as selling it back to them if you decide to liquidate. As we mentioned previously this process can be long yet if you ask the right questions and have done due diligence on the company making the right decision will not be hard.
4. Types of Precious Metals – Coins or Bullion
When purchasing precious metals it is important that you purchase the ones that, the IRAs accept and choose a custodian that has the best storage facilities so your assets will be safe. This is a tough decision because advantages and disadvantages come with gold bullion vs gold coins.
If a gold IRA company tries to influence you for one particular type of metal that is a red flag. Each company is going to be different but if you rep is trying to push you to purchase it probably means that they are going to make a high profit off of them, which means your best interest is far from their mind. It is important to be very cautious because there are tons of negative reviews from individuals who experienced this.
5. What Other Investors Are Saying About Your Company?
This is a no brainer. When we are looking to buy some high-valued item anywhere, it is extremely important to look at the reviews and comments from other people and non-profit organizations, prior to make a decision. There are some website where you can find real, honest reviews from almost every gold IRA investor, prior to make an investment. What we like about these sites is that they let you capture what real people are thinking and feeling about making deals with the company you are looking to invest. This websites are:
- Better Business Bureau
- Business Consumer Alliance
- Trustlink (this is a must read site. It has a lot of reviews)
6. Financial Gains
Avoid companies whose speech promise large financial gains from your investment with them. Gold prices and, in general, precious metals tend to vary according to market conditions (demand and supply), also brought government policies at certain times.
Try to do some analysis and ask your representative which are the current conditions of each precious metal in which you want to invest and what portfolio is recommended for the amount of money to invest in your new IRA. Typically, and in order to protect consumers from potential losses, retirement plans consist of several precious metals like gold, silver, platinum and palladium.
We took in consideration these aspects and we have summarized the most important aspects you should take care of in our free ebook “How To Choose your Gold IRA Company”
If you want to do it by yourself, we have created for all our visitors a “Gold IRA Investment Criteria Guide”; it is a PDF printable document with the sole purpose of helping people to make a clear and expert investment decision, based on the factors given and other criteria you should also take but non mentioned here.
Download the Gold IRA Investment Criteria Guide here.
What Company We Recommend
We have reviewed almost every gold IRA company out there, we have made 2-3 calls to get some information, we have read a lot of investors comments and complaints and right now only one company brings together the best conditions to set up a gold IRA: Regal Assets.
If you took the chance to download our Gold IRA Investment Criteria Guide, you know the most important factors prior to choose a company and Regal Assets features the best criteria. Short summary on why we choose this company (as of September 20th, 2015):
Regal Assets is the company who can guide you expertly when you want to invest in gold or create gold-based IRA. It is one of the most respected companies and their customer satisfaction ratings prove it. Professionals and consumers have endorsed Regal Assets and their investment strategies. They have a background that goes back for years and they truly understand the marketplace. If you want to invest in gold this is the company you want to talk too.
Download a Free Gold Invest Kit via Regal Assets (Click Here)
Some gold vendors out there just have the main goal of selling you gold. However, Regal Assets wants to make sure that all of their customers are informed about the gold market before they invest their hard-earned money. This is why they have a free gold investment kit available to potential buyers. All you have to do is request it.
We have reviewed also another gold IRA companies for your reference: American Bullion, Advantage Gold, Rosland Capital among the most importants.
Make sure you do not forget to refer to our free report, so you can know the best companies for rolling over your current IRA/401k to gold. For us, Regal Assets is the best company at this moment to protect your retirement portfolio.