Articles Categorized in: Blog
An Individual Retirement Account (IRA) may hold physical precious metals provided that certain funding requirements and IRS rules are fulfilled, including meeting eligibility requirements such as being traditional pretax or Roth and no yield yield are present. Metals held within an IRA are usually stored with an approved depository by a custodian who charges annual and storage fees to hold and protect its assets. Eligibility Treasured metals can make an invaluable addition to an IRA; however, it is important to...
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If you have funds from an old employer plan that remain after leaving a job, there are various options for how you can handle them. One possibility would be rolling them over into a rollover IRA. Reducing recordkeeping hassles by consolidating investments into one account may simplify recordkeeping, but be wary of fees, investment options and creditor protection when making decisions. What is a rollover IRA? Rollovers occur when funds from an employer-sponsored retirement account are transferred into a self-directed...
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Investors seeking to add physical gold to their IRA should create a self-directed IRA account. Similar to traditional IRAs, but providing greater investment options. These IRA companies usually charge fees for account setup, annual maintenance, storage and insurance as well as markup on precious metals eligible for an IRA account. Taxes Investors considering physical gold must carefully consider its tax implications when investing. According to IRS classification, gains may be taxed at a higher rate than regular income. However, investors...
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Gains on gold investments generally fall under ordinary long-term capital gains rates; however, physical gold investments may incur higher maximum collectibles rates of 28%. These taxes can add up quickly when taking into account dealer markups, storage fees and insurance costs. Income tax Income taxes imposed on gold investments depend primarily on their original cost basis; this value includes what was spent to purchase them plus any expenses such as appraisals. When selling, market value also has an effect on...
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In your introductory paragraph, it’s crucial that you engage your readers. Use provocative questions, quotes, anecdotes and humor to draw them in and keep them reading! Custodians for Individual Retirement Accounts can range from banks, credit unions, non-depository trust companies and brokerage firms – some even specialize in supporting more risky forms of investments like private placement securities and real estate. Having a custodian is a good idea. Self-directed IRA investors must select an IRA custodian that best meets their...
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Gold IRAs (precious metals IRAs) are individual retirement accounts that allow investors to purchase physical Gold. These accounts follow all of the IRS regulations associated with traditional IRAs but provide access to rarer precious metals with less market volatility. Gold IRAs can be funded either with cash, or by rolling over funds from another IRA, 401(k), 403(b), pension plan account or Thrift Savings Plan account. A quality IRA provider will help facilitate this rollover without incurring taxes or penalties on...
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Gold can provide your retirement account with an effective diversification strategy, but prior to investing, be aware of any associated risks and how best to minimize them. IRAs are retirement accounts that allow you to save tax-deferred, with withdrawals free from tax in retirement. Options available to you include traditional, Roth and rollover IRAs. Why Buy Physical Gold With Your Roth IRA? If you are considering purchasing physical gold as part of your retirement savings strategy, it is crucial that...
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A 529 plan provides parents and grandparents the ability to save tax-deferred for future education costs, including tuition fees, room and board, books and technology. Any withdrawals are tax-free as long as they’re used towards qualified expenses like tuition, fees, room and board or technology purchases. Starting in 2024, under a provision in the SECURE Act 2.0, you can convert up to $35,000 of unused 529 assets into a Roth IRA for beneficiaries without incurring income taxes or incurring a...
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A 401(k) is an employer-sponsored retirement savings plan. While most plans do not permit investing in physical gold bullion, with a 401(k) rollover into an individual retirement account you are now able to do just this. To do this, locate an institution specializing in precious metals IRAs and follow their established procedures. When possible, choose one with transparent fees and a commitment to customer education. What is a 401k? A 401k is an employer-sponsored retirement savings account that allows you...
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American Equity Investment Life Holding Co is an annuity seller. Their offerings focus on fixed index and fixed rate annuities with licenses in 50 states plus D.C. AM Best has given AM Best Insurance Agency high marks for financial strength and BBB ratings for credit, which indicate their likelihood of meeting financial obligations. What is an annuity? American Equity offers an assortment of annuity plans, from fixed index annuities with the potential to build your account value while simultaneously guaranteeing...
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