Thank you for visiting our gold IRA guide: In this guide, you will learn everything you need to know about
owning physical gold in an Individual Retirement Account (IRA), gold 401(k) rollover and transfer rules, how to start a gold IRA, what are the best gold IRA companies, and much more.
Before we go more in-depth on this topic, we know that choosing a precious metals IRA company is an important financial decision that can impact your financial future for years to come.
Our goal is to provide you with the most accurate and reliable information to help you identify the best option to grow and protect your wealth today.
With careful and extensive research, we have reviewed and rated the 5 best precious metals IRA companies of 2022 to help make your decision easier!
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With that being said, you can use our TOC list below if you want to jump straight to any section:
Gold IRA Guide: Overview
- What Is A Gold IRA?
- 2 Different Types Of Gold IRAs
- Why Invest In A Gold IRA?
- Benefits Of A Gold IRA
- Potential Risks Of A Gold IRA
- Invest Safely With A Gold IRA
- Tax And Penalty-FREE Investment
- How To Start A Gold IRA
- IRA-Approved Precious Metals Bullion
- Rollover & Transfer Rules
- Best Gold IRA Companies
Before we dig in deeper, let us start with a brief introduction to why you should invest in physical gold and other precious metals.
For centuries savvy investors have been aware of the importance of owning physical gold and silver as part of a well-balanced and diversified portfolio.
is a world-renowned safe haven for investors offering the ultimate insurance and protection against turbulent economic times.
And financial protection is crucial with a pending economic collapse and
rapidly increasing inflation rate
(now as high as 8.5% in the US).
Hence, why you should move your money and
diversify your assets with a gold or precious metals IRA
while you still can.
More importantly, with a gold IRA, you can take advantage of a simple and easy
IRS loophole. This loophole allows you to hold physical gold and silver with the money you already have saved in your retirement account,
completely tax and penalty-free.
Not only that…
There are lots of advantages to owning physical gold and silver.
gold IRA guide, you will learn everything you need to know to protect your retirement savings account with a crash-proof investment that will stand the test of time.
But first, let us take a look at what a gold IRA is.
What Is A Gold IRA?
gold IRA, also known as
precious metals IRA,
gold-backed IRA, or
Roth gold IRA, is a specialized type of Individual Retirement Account (IRA) that allows investors to hold physical gold bullion or coins and other precious metals as qualified retirement investments.
“Because gold is one of the most commonly purchased metals, the commonly used term “gold IRA” simply means a retirement account containing any combination of precious metals.” – source:
Specifically, these special forms of IRA retirement vehicles are actually self-directed IRAs that are meant to hold physical gold coins and gold bars of high purity, as well as
if you so choose.
And thanks to the
new IRS rules and regulations, you are now able to own high-purity (IRA-approved) and investment-grade gold bullion and the other precious metals in their tangible form in such accounts.
Best of all, this provides a safe way to protect your retirement savings, while also reaping the same tax advantages as a conventional IRA.
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2 Different Types Of Gold IRAs
There are two types of gold IRAs available:
1. Traditional-Based Gold IRA
With a traditional-based IRA (Self-Directed-IRA or SDIRA), you do not pay tax on the contributions you make to your gold IRA from your income until much later in retirement when you take distributions. And you can start taking distributions without penalty when you are age 59½.
To give you an example, if you make $60,000 one year and decide to contribute $5,000 into your gold IRA, you will only pay the tax that year on $55,000.
In addition, by the time you pay tax on that $5,000, the gold you have spent it on could well be worth a lot more. And this possible rise in asset value could mean that you will end up getting some of your tax bills effectively paid for free.
Also, a traditional IRA comes with a ‘Required Minimum Distribution (RMD)’, starting at the age of 72, meaning that you must withdraw a certain amount from your IRA each calendar year. Accordingly, this RMD also applies to a gold IRA.
2. Roth-Based Gold IRA
In contrast to a traditional IRA, with a Roth-based gold IRA, the contributions you make are NOT tax-deductible.
But on a positive note, when you make withdrawals from your gold IRA, you do not have to pay taxes on your investment gains. So, if the price of gold has increased significantly, this tax advantage may be a huge benefit.
Additionally, with a Roth-based gold IRA, the Required Minimum Distribution does not apply.
Instead, an upper-income limit applies to Roth IRAs. And as of 2022, your modified annual income must be less than $144,000.
Now, let us look at more reasons why you should invest in a gold IRA.
Why Invest In A Gold IRA?
You should invest in a gold IRA to protect your retirement savings account and make sure your assets are safe and secure, while also ensuring that your wealth will appreciate.
By investing in gold and other precious metals through a gold IRA, you do not have to worry about a possible
stock market crash or inflation, where your paper assets would lose their value.
Gold tends to move in the opposite direction of paper assets and increases in value when the dollar is debasing. That is why it is important to diversify your investment portfolio and hold a tangible, physical asset in your retirement account.
In addition, a gold IRA is the better choice since traditional IRA accounts may not be enough to provide for you and your loved ones post-retirement.
Especially not if the economy continues spiraling out of control at this magnitude.
Protection Against Government Confiscation
The sad truth is that the US creeps further into debt for each day and it is taking your IRA/401(k) along with it.
In fact, your IRA/401(k) has never been more in danger than it is today. And as a result, big banks may be coming after your savings and retirement accounts.
For certain accounts, they could help themselves to your money to stay solvent during this looming financial crisis. And worst of all, it is all going to be 100% legal because of the Dodd-Frank Act.
Luckily, you can protect yourself by investing in IRAs that will not disappear if the dollar does.
In fact, the only secure financial asset that has stood the grueling test of time is gold.
Not only does a gold IRA permit individuals to diversify any portion of their retirement portfolio — including pre-existing IRAs and former 401k(s) with previous employers — but it also allows investors to own physical metals within that retirement plan.
With that, investors can securely possess physical precious metals in a tax-deferred account.
However, many investors do not know how easy and safe it can be to invest in gold and particularly through a gold IRA.
As already mentioned, a gold IRA is subject to the same rules as a traditional IRA, which allows investors with existing retirement assets to easily invest in gold.
Gold is protection and serves as an inflation hedge. Gold should not be seen as an investment, but as financial insurance.
Benefits Of A Gold IRA
1. Inflation Hedge/Protection
First of all, the stability offered by gold is unmatched.
But the major single reason to invest in a physical gold IRA is that precious metals are the smartest and easiest means of protecting your retirement account against the ravages of inflation and other manifestations of economic chaos.
Like the ones, we are in right now!
The deal is that as money gets inflated away by the meddling government, it decreases in value.
Fortunately, precious metals do not suffer at the hands of inflation.
Quite the opposite… This asset class may actually increase in value as the economy suffers and the American dollar declines over time.
2. Tax Advantages
Like any other IRA, a gold IRA offers the ability to
accrue gains tax-free, while also allowing you the benefit of owning physical gold coins or gold bars.
Besides, there are no unfortunate tax consequences or hard requirements of declaring precious metals from the IRA to the IRS (since they are already aware of it).
And if you would decide to transfer your gold IRA assets to another approved investment or retirement plan down the road, you will not suffer any tax problems or penalties.
When deciding to liquidate, our
5 top rated gold IRA companies
have buy-back programs and will offer you a much better price than a regular coin dealer or broker.
As mentioned, diversifying your assets with physical gold and silver can protect you against:
- Currency risk
- Default risk
- Geographic risk
- Financial crisis
- And government confiscation of your hard-earned money.
Additionally, because the beta or correlation between stocks and bonds, compared to gold is extremely low, you can rest assured that falling stocks and bonds prices generally translate to rising precious metals bullion prices.
Typically, when financial conditions show signs of deterioration, as they do now, investors flock to gold and silver to protect their assets.
Just a small allocation of precious metals–5% to 10%–can add a significant amount of protection to your portfolio if things get ugly in the financial markets?
That is a proven fact!
Furthermore, it is also important to know that a gold IRA account is not only restricted to precious metals bullion. In fact, it can also hold franchises, businesses, stocks, bonds, mutual funds, commodities and futures, mortgages, cash instruments, and other non-collectible forms of investments.
Overall, there is no other form of IRA investment or retirement vehicle, which can hold a larger variety of investments than the
self-directed gold IRA.
4. Wealth Appreciation
Did you know that ever since President Nixon closed the gold window in 1971, gold has actually outperformed both the S&P 500 and the Dow Jones Industrial Average?
And this, despite the amazing stock market bull run of 1982-2000.
Gold’s performance in the 21st century has been even more amazing, with gold making more than double the gains of both the S&P and the Dow, which is a strong indicator you can put your trust in this yellow metal.
The bottom line is that including gold within an existing retirement account could improve investment performance by increasing returns, without increasing risk. Or by reducing risk, without adversely affecting returns.
5. Rollover Ease
Starting a gold IRA
is as easy as 1-2-3!
You can simply rollover or transfer parts or all of any existing retirement account over to a gold IRA. The process is easy and painless and takes about 10 business days.
All you need to do is sell assets in your existing accounts, roll over these funds over to your gold IRA, and use them to buy gold, or whatever metal you prefer.
And you don’t have to front extra cash.
Besides, the gold IRA specialists will help you navigate the process without a hitch. You can find our
>>recommendation of gold IRA companies here<<.
Additionally, you can read more about the rollover and transfer process in
the ultimate gold IRA rollover guide.
6. Gold Stands The Test Of Time
From the traders of antiquity to today’s most savvy investors, accumulating gold stands the test of time.
Gold is accumulated for a myriad of reasons, including to hedge volatile stock markets, to offset fluctuating commodities prices, and as a safe haven against falling home prices.
With that said, if you want to capitalize on consistent growth in value, gold has always proven the safest investment.
>> “Discover the 2022 IRS Loophole Thousands of Americans Are Using to Protect Their Retirement Savings”
Potential Risks Of A Gold IRA
1. The Price Of Gold Fluctuates
Like any other investment, the price of gold has volatility and can go up or down.
That is why it is recommended to diversify your investment portfolio into several asset classes. And you can easily do that by combining, for example, gold and bitcoin (or other cryptocurrencies) in a
2. Safeguard Against Unethical Companies
Additionally, it is important to only be dealing with a gold IRA company that has all the appropriate and required licenses, registrations, insurance, and bonds to protect your investment.
This means that you should ask for verification of these licenses and other information before you invest any of your savings.
Also, look for a gold IRA company with an outstanding reputation from objective third parties, such as the Better Business Bureau or the Business Consumer Alliance.
Invest Safely With A Gold IRA
Once your new precious metals have been purchased, they must be stored according to IRS guidelines for gold or precious metals IRAs. Your choice of gold IRA company will have IRA specialists that will help you adhere to the IRS guidelines and hold your hand throughout the setup process.
>>See our recommendation of the top ranked gold IRA companies here.<<
Also, your precious metals investment will be stored with a custodian, just like any other IRA asset.
And the good news is that gold IRA custodians specialize in storing precious metals and have secure vaults set up to keep your precious metals safe.
More importantly, they also carry insurance to ensure that, in the very unlikely event that some metals get stolen or destroyed, your investments will be made whole.
With that, let us take a look at how to start a gold IRA next.
How To Start A Gold IRA
To begin the process of opening a gold or precious metals IRA is simple, especially when you partner with
precious metals experts
who know the ins and outs of this type of IRA.
Let us show you the easy 4 steps when opening a gold IRA next:
1. Select Your IRA Plan
For starters, to invest in precious metals you have to start with a self-directed IRA. As an investor, you can begin a new IRA account, or roll over from an existing retirement account. It is key to speak with a
2. Select A Precious Metals Custodian
Second, gold IRA assets need to be stored with a custodian per IRS regulations. So, working with precious metals investing experts, like those at
3. Select Your Precious Metals
When choosing precious metals, it is important to remember that they need to meet certain IRS rules and regulations to avoid retirement mistakes when investing. Working with a precious metals specialist will ensure that you are choosing the right types of
4. Purchase Precious Metals
Once you have chosen your desired metals as an investment, you can purchase them and work with your custodian regarding storage. The custodian will keep your assets safe and secure at a bullion depository so that they will be available when you need them.
IRA-Approved Precious Metals Bullion
IRA-approved precious metals bullion must meet certain standards.
Additionally, specific pieces must be approved by the IRS in order to effectively be included.
The standard of gold bullion is a minimum purity of 99.5%, while with silver it is 99.9% minimum purity.
Here are examples of IRA approved bullion:
- Gold or Silver American Eagles
- Gold or Silver American Eagles (Proof coins)
- Gold or Silver American Buffalos
- Gold or Silver Canadian Maple Leafs
- Gold or Silver Austrian Philharmonics
- Silver America the Beautiful Coins
- Gold or silver bullion Bars
- American Silver Eagles
- And more.
You can find out more in
IRA-approved gold and silver bullion.
Other Precious Metals To Include In Your IRA
If you so choose, you can also include other precious metals in your IRA:
It is also used in jewelry and other refining catalysts along with some computer applications.
Platinum is rarer than gold or silver and has historically been as expensive as gold.
It is used in automobile manufacturing, electronics, dentistry, and fuel cell production.
Just like platinum, palladium is primarily used in automotive catalytic converters.
Rollover & Transfer Rules
As we have touched on earlier, investing in precious metals through an IRA has to be done in accordance with the IRS rules and regulations.
That is why it is crucial to
work with a company
that has a good track record working with these types of accounts.
1. Gold 401(k) Rollover
happens when you receive the distribution from your existing retirement account, and then turn around and deposit it in another retirement account.
In this case, you would need to re-deposit the funds into the new retirement plan account within 60 days. The reason for this is that after the 60-day limit, you would be liable for taxes and other penalties on the money withdrawn.
You can also only roll over the same money once every 12 months to preserve the tax-deferred status of your retirement savings.
2. Gold IRA Transfer
you can do at any time with your existing IRA, as long as the assets go from custodian to custodian.
In a direct transfer, the money flows directly from one IRA custodian to another.
This means that the distribution check from the old IRA custodian must be made out in the name of the trustee or custodian of the new IRA account that receives the funds.
In contrast to a 401(k) rollover, transfers may be made as often as you want.
You can find out more about the rules and regulations in
gold IRA rollover & transfer explained.
>>Take Action Today To Diversify & Protect Your Retirement Savings By Requesting The FREE Gold IRA Guide!
How to Invest Ira in Gold
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