Articles Categorized in: Blog
American Equity offers both traditional fixed annuities and indexed annuities; these latter options provide principal protection from index volatility while offering growth opportunities and guaranteed income payments. IncomeShield series from Prudential is their premier offering among indexed annuities, featuring access to Wellness Benefit features as well as no withdrawal charges beginning year two. What is an annuity? An annuity is a contract that provides you with income payments over the long-term, typically for life or a set number of years,...
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When it comes to precious metals, it’s essential that they be stored safely – but there are numerous methods available. At-home storage can be an attractive solution for those who wish to keep their bullion safe from public scrutiny; however, this method carries certain risks; standard homeowners’ policies typically do not cover gold or silver as part of their coverage. 1. Safe Deposit Boxes People use safe deposit boxes to safely keep important documents such as birth certificates, property deeds,...
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An Individual Retirement Account, or IRA, allows you to save tax-deferred. When withdrawing funds prior to age 59 1/2, however, income tax and potentially an extra 10% penalty tax apply unless an exception applies. An IRA beneficiary can be anyone, including spouses, non-spouses and entities like trusts; each category of beneficiary entails different rules regarding distributions. Contributions Although the government provides tax breaks to encourage retirement savings, Individual Retirement Accounts (IRAs) are subject to regular income taxes when account holders...
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Yes, but only if you use the correct custodian and follow IRS regulations. This requires carefully considering investment opportunities before entering any binding contracts; and conducting due diligence checks to make sure no fraudulent schemes exist. Self-directed IRAs allow investors to invest in alternative assets such as real estate and precious metals without incurring taxes and early withdrawal penalties upon withdrawal. Choosing a Custodian When it comes to selecting a custodian for your self-directed IRA, it’s crucial that you thoroughly...
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Self-directed IRAs give account holders the flexibility of investing in multiple forms of alternative assets as long as they comply with IRS rules – but doing so may be challenging and risky. Red flags to watch out for include new investment companies with claims of high returns and any claims of incredible asset appreciation. Furthermore, account holders should learn how to assess an asset’s fair market value as well as prevent transactions with disqualified parties. 1. Real Estate The IRS...
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A gold IRA is a tax-advantaged retirement account that enables you to store physical precious metals. Funding must come from pre-tax dollars. Your IRA custodian must be approved by the IRS to hold precious metals or alternative assets safely, with fees such as setup, transaction, and storage fees that apply to this service. 1. Traditional IRA Physical gold investment via traditional retirement accounts is feasible, though you should carefully consider your strategy before doing so. IRAs tend to come with...
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A medallion signature guarantee is a verification stamp provided by financial institutions such as banks, credit unions, or broker-dealers to guarantee the legitimacy of documents they sign. These institutions must be members of the Medallion Program to offer this service. Financial industry regulators must approve these documents. While MSGs do not expire, they only remain valid during transactions for which they support. Medallions are a form of security Medallion Signature Guarantee (MSG) stamps provide assurance of authenticity of signatures on...
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An Individual Retirement Account, or IRA, requires all precious metals be stored with an IRS-compliant custodian, meaning home storage of gold is no longer an option. Many investors prefer storing their gold at home because it makes them feel safe, yet this practice may lead to significant penalties from the IRS. Taxes When choosing where to store your precious metals, there are several important considerations. First and foremost, any storage company must be approved by the IRS as an insured...
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People with multiple retirement accounts can consolidate them into an IRA to avoid duplicative accounts and keep an accurate account of their performance on one statement. IRAs typically feature lower administrative fees and offer greater investment choices than 401(k) plans, though fees may differ between the two accounts. Fees for Direct Rollovers When retiring savers leave an employer and want to move their savings accounts elsewhere, a direct rollover is used as a transfer between two tax-deferred accounts – such...
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Answers depend on how you plan on using metals. Gold can serve as a great diversifier and protect against inflation; however, physical precious metals come with significant fees that could erode returns. The IRS considers precious metals to be collectibles and, thus, cannot allow IRAs to own them. To circumvent this issue, you will need a custodian who can purchase and store your precious metals in an approved depository. Tax-deferred growth Gold IRAs are special accounts that allow investors to...
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