Before you start placing physical gold in your IRA account, there are a few things that you need to know and understand so that you can make the best-informed decision for your financial future. We’ve compiled a list of three of the most frequently-asked questions surrounding physical gold IRA accounts. We hope that you’ll find this list to be helpful.
Q: Why should you include physical gold in your retirement plan?
A: For some, having gold as part of their IRA account is a no-brainer. Simply put, gold is money that cannot be printed or debased. Gold can withstand the fluctuation of the current economy. The value of gold increases over time, so investing in gold now will recoup the initial investment and be worth more in a few years’ time.
Q: Can I buy physical gold for my IRA or 401K Account?
A: Individuals can purchase gold coins, bullions, and other precious metals through a self-directed IRA or 401K. The majority of people that have a retirement plan in place typically have a conventional IRA or 401K established through a bank or brokerage firm that specializes in bank deposits, stocks, mutual funds, annuities, and other assets. In most cases, for individuals that have a retirement plan through one of these agencies, have little to no say in regard to the investments being made. A self-directed retirement plan empowers the individual to make investment decisions with their own best interests in mind.
Q: How can the average person planning for retirement distinguish between the good vendors and the bad ones?
A: The key to protecting yourself from doing business with less-than-reputable companies is to do your own research. Start by checking the Better Business Bureau’s profile for each company that you are considering before conducting any business with. When checking the profiles, check not only the overall rating given by the BBB, but also the number of complaints, the types of complaints, and how all the complaints were handled. Be wary of companies that have a track record of complaints, even though they may have an A+ rating. Secondly, choose to purchase gold from a firm that has a solid track record. The longer they’ve been in business, the better. Third, how does the company communicate? Find a company that is committed to keeping you informed, and has readily available contact information so that they can speak with you to answer any questions that you might have.
Adding gold to your IRA might seem strange, but there are many benefits, including the ones mentioned here, that make it an excellent option. If you want to add more security to your money, and have a stronger confidence in your future, McAlvany Financial can help you to make the right decision, when considering investing in physical gold IRA accounts. Contact us today, and let us help you build the perfect pathway to you and your family’s financial future!