Articles Categorized in: Blog
Dealers are required to report purchases of precious metals exceeding $10,000 that take place through cash purchases in order to combat money laundering and other illicit activity. This measure serves to deter and detect illegal acts. To avoid this requirement, it is best to purchase all your silver with either hard currency (like $20 bills or coins) or through bank check. How much can I buy? Customers purchasing or selling precious metals must always be mindful of the tax implications....
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Many investors invest in physical gold as bars or coins. Unfortunately, storing this precious metal can be costly, making it harder to quickly raise funds if necessary. Storing bullion at home exposes it to the risk of burglary. Furthermore, once someone knows you possess precious metals they may inform others. Trade futures or options contracts Futures or options contracts offer one of the easiest and riskiest ways to invest in gold without owning physical metal – offering investors opportunities to...
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Gold IRAs enable investors to invest in physical precious metals through qualified financial advisors who act as fiduciaries; that is, they are legally required to act in your best interests and act accordingly. Establishing a gold IRA requires selecting a metals dealer and connecting with an IRA custodian/depository institution. Both entities charge fees for account setup, storage and insurance policies – therefore conducting due diligence when choosing providers is essential. Costs Physical precious metals IRAs offer diversification, inflation protection and...
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Markings on gold jewelry can be confusing to consumers. Yet these insignia can have an enormous influence on its value, so in this article we’ll examine their meaning as well as their implications for both consumers and collectors alike. These hallmarks reflect centuries-old traditions in gold production and quality standards, adding heritage value and telling its unique tale. BBB stands for British Bullion Brokers Hallmarks are distinguishing characteristics stamped onto gold items to identify their purity, as well as reveal...
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Announcing the opening of the first state-backed gold depository in America. This is excellent news for any individual with precious metals laying around. The Depository Act, introduced by Southlake Representative Giovanni Capriglione and signed into law in 2015 by then Governor Greg Abbott, proposed creating a state-run facility which would enable Texas to repatriate over $1 billion worth of gold bullion to its home state. State Comptroller Glenn Hegar has joined forces with Austin-based Lone Star Tangible Assets in operating...
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After someone passes, their IRA account often passes to their heirs. With its multitude of choices and potential effects on family finances, inheriting someone else’s IRA can have lasting ramifications. One option would be to transfer ownership of the account through a spousal transfer and treat it as your own, while withdrawing the money is another. Taxes If you inherit an IRA, there are a variety of tax strategies you can implement to minimize tax liabilities associated with it. One...
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Gold and silver may seem like safe investments, but personal finance expert Dave Ramsey cautions against them as being effective long-term wealth builders. Instead, he suggests investing your funds in ways that bring higher returns while increasing wealth over time. Consult a financial adviser in order to understand proper diversification and create an effective budget, which will allow you to achieve your financial goals while being better prepared for future scenarios. It’s a store of value Although precious metals may...
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If you don’t have access to a workplace 401(k) plan, an Individual Retirement Account (IRA) could provide valuable tax breaks. There are two kinds of IRAs – traditional and Roth – with contribution limits that vary based on income level. An Individual Retirement Account, or IRA, can be opened at most large financial institutions such as banks, mutual fund companies and brokerage firms. When selecting an IRA provider it’s important to take fees and features into consideration as well. How...
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Many Roth IRA investors choose mutual funds or ETFs, yet their structure often leads to higher fees and expenses that reduce returns in the long run. ETFs offer low expense ratios and broad market exposure in one fund that trades throughout the day – making them an excellent starting point for retirement savings. Taxes Investment in ETFs within a Roth IRA can be an excellent way to diversify your retirement portfolio, but you should keep taxes in mind before making...
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Making decisions regarding retirement investments can have long-term ramifications, so it is vitally important that they are carefully evaluated. A financial advisor can offer valuable assistance in evaluating these factors against your goals. An IRA provides more investment options than its TSP counterpart, including mutual and exchange-traded funds. However, it’s essential to understand all applicable rules regarding transfers of IRA accounts. How It Works Trustee-to-Trustee Direct Rollover Method The easiest and simplest way to transfer TSP funds into a Gold...
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