If you’re looking for a safe way to invest your retirement funds, gold is an excellent choice. This precious metal has been used as a currency for centuries and has maintained its value over time. Even though gold prices have fluctuated throughout the years, they have never fallen below their original price.
If you’re interested in investing in physical gold, you can buy bullion or coins directly from a dealer or through an online service. However, if you prefer to stick with more traditional investments, an IRA rollover may be an option worth exploring.
What Is a Rollover IRA?
In order to complete a rollover IRA, first you need to open an account with an IRA custodian. You’ll then transfer funds from your current account into this new one. Once the transfer is complete, you’ll be able to invest those funds however you like — stocks, bonds and mutual funds are common options — and watch them grow over time.
What Happens When You Roll Over Your IRA?
When you roll over your IRA into another type of retirement account (e.g., 401k), it’s important that all of your assets are liquidated before making the switch. If there are any remaining assets in your existing account after the transfer, they will be considered taxable income. This can be avoided by rolling over your IRA into a new account, which is essentially like transferring money between two of the same type of account.
The most common scenario is rolling over a traditional IRA into a Roth IRA. This allows you to avoid taxes on the conversion, because your money has already been taxed once. However, if you have funds in a traditional IRA and want to roll that money over into a 401k instead of converting it, that’s possible too.
Gold IRA Companies
Gold IRA companies provide an easy way to invest in gold. These companies are similar to regular investment firms, except their focus is on precious metals. They offer a range of services and products, including the ability to purchase physical gold and silver bullion as well as coins. The main benefit of working with gold IRA companies is that they can help you convert your traditional IRA into a self-directed account so that you can invest in physical metal instead of paper assets such as stocks or bonds.
GoldCo is one such firm. They offer a variety of services for investors, including the ability to purchase gold and silver bullion coins and bars as well as collectible coins as you can see from this GoldCo reivew. For those who want to invest in physical gold or silver but don’t have the time or expertise to do it themselves, GoldCo offers a self-directed precious metals IRA account. With this option, clients can store their coins at GoldCo’s facility where they are insured against theft or loss.