Is It Worth Having Gold in Your Portfolio?

Is It Worth Having Gold in Your Portfolio?

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There is not a single person who has not thought about their retirement. Planning for the future is something that everyone should do so that they can retire when they want and with a comfortable lifestyle.

Investing in your future usually includes contributing to a 401k plan from your employer. If you are a savvy investor, you may also start a 401k private retirement account as well so that you can save more for the future. However, many people are intimidated by the investment process.

The stock market can fluctuate greatly, and many things can affect how well an individual stock performs.

So how does a person save for their future without placing all of their retirement savings at risk? Savvy investors know that they must diversify their retirement savings, and part of that diversification must include investing in gold.

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Is It Worth Having Gold in Your Portfolio?

Why Investing In Gold Makes Sense

Gold has always been associated with wealth. Gold is a limited commodity, and demand remains high for this precious metal. Gold has continually performed well on the market, and even when prices fluctuate, it regains its losses quickly and begins to climb in value.

Gold performs even better when the stock market fluctuates. People turn to gold for stability and to offset inflation. If you want to protect your retirement savings, having gold as part of your investments will give you more security than investing in stocks and bonds alone.

You Need A Gold IRA To Purchase Precious Metals

The regulations about 401k accounts are very specific. There are two types of IRA retirement accounts - standard and self-directing. A standard IRA holds stocks and bonds you can purchase individually or as part of different funds. Some people allow their financial advisers to select their investments in these accounts, but you can pick your own stocks.

Self-directed IRAs will allow you to hold assets other than stocks and bonds. These IRAs, often called Gold IRAs, will allow you to hold precious metals as part of your retirement investments. Some self-directed IRAs will also allow you to hold real estate, cryptocurrencies, and other non-traditional investments as part of the retirement account.

If you want to own gold as part of your retirement savings, you will need to establish a gold IRA to own gold as part of your retirement savings.

Several companies offer gold IRAs. We have researched several and have listed the top three companies below. We encourage you to look at these companies and select the right one for your investing needs.

Important Facts About Owning Gold And Precious Metals For Retirement Accounts

The Internal revenue Service (IRS) has several requirements for owning precious metals as part of your retirement account. In addition to having a self-directed IRA to hold these assets, you must also comply with the following rules:

  • The only precious metals that can be held in a retirement account are gold, silver, platinum, and palladium.
  • All precious metals must have a purity level of 99.5 percent or higher to qualify as retirement assets (The only exception is the American Gold Eagle Coin).
  • All precious metal coins and bars must come from approved mints around the world and meet the purity standards.
  • All precious metals that are considered an asset of the IRA account must be held in a storage facility until withdrawals begin on the 401k account.
  • You cannot add gold or other precious metals to your account that you have in your home or business.
  • You can take physical possession of the precious metals once you begin withdrawaing from your account, or you can sell the items as part of your retirement.

The IRS has very strict penalties for noncompliance with these rules and regulations.

Is It Worth Having Gold in Your Portfolio?

Work With A Gold IRA Company For An Easy Transition

The easiest way to start investing in gold is through a gold IRA company. Several gold brokers manage gold IRAs. This allows for a very easy transition when you start investing in gold.

Establishing a gold IRA is quite simple. You fill out the paperwork just like you would for a regular account, and then you fund the account so you can start investing.

You can fund a gold IRA account by using old 401k plans from your previous employers that you have not rolled over into your current 401k, thrift savings plan funds, 403b accounts, and other IRA accounts that you hold. You can also start a brand new account and fund it from your savings.

Once your account has been funded, you can begin selecting the coins and bars that you want for your account. Buying gold coins has additional benefits. Gold coins are very high in demand in the collectors market. When you hold gold coins, you will also enjoy the extra collector's value these items have. When you sell your coins at a later time, you may be able to get more than just gold value.

Your gold broker will process your purchase and send your coins and bars directly to an IRS-approved depository. You will have your choice of which depository to use. The coins and bars will be held until you cash out your account.

Investing in gold is that easy.

Diversifying your retirement accounts and protecting yourself from inflation and market fluctuations is always a great idea. The best way to accomplish this goal is through purchasing precious metals as part of a gold IRA account.

Our Top Three Gold Brokers

Augusta Precious Metals

Augusta Precious Metals has provided gold brokerage and gold IRA services for over a decade. Headquartered in Wyoming, this company has continually ranked as the number one gold brokerage in the United States. The company continually receives 5-star ratings across all review sites and has the highest rating available with the Better Business Bureau.

Augusta Precious Metals offers superior customer service and works with clients individually to achieve their gold investing goals. The company offers extensive educational material on gold investing and has a good selection of gold and silver coins and bars to choose from when purchasing for your IRA.

#2. Goldco

Goldco

Goldco is a California-based company that has been providing gold brokerage services since 2012. The company has ranked as one of the top gold IRA companies in the country because of its outstanding customer service and the extensive gold and silver coins that it offers for investments.

Goldco has superior ratings across all review sites and many public figures who speak for their company. The company has been reviewed by several financial magazines and has been designated a preferred provider of gold IRA services.

American Hartford Gold

American Hartford Gold is a California-based company that offers gold IRA services. They are a gold brokerage that specializes in gold, silver, and platinum bars and coins. They also have many rare coins for gold coin collectors.

American Hartford Gold has amazing reviews and exceptional customer service. They can help you quickly establish a gold IRA and provide you with all of the educational material you need to make an informed decision. Ranked as one of the leading companies in the US, American Hartford GOld has amazing reviews across all review sites.