Physical gold bullion may be ideal for many clients; however, there may be certain risks involved with this option. First of all, home storage can often be less secure than bank safe deposit boxes, with access limited to bank operating hours and uninsured home storage vulnerable to theft and potential disasters. Accessibility Bank safety deposit boxes offer an ideal place for valuables to be stored safely, away from prying eyes. Their contents cannot be accessed by others and bank officials...
Read More
There are various considerations when establishing a self-directed IRA (SDIRA). Custodians for SDIRAs such as banks and trust companies typically have their own set of rules when managing them; additional due diligence might also be required of investments made with nontraditional assets with limited financial data or liquidity issues. Real estate Self-directed retirement accounts (or IRAs) provide greater investment flexibility than traditional accounts, which typically limit you to market products such as stocks and mutual funds. A self-directed IRA allows...
Read More
When you roll over your TSP to an IRA, the TSP will withhold taxes from the amount that you transfer. If you want to avoid withholding, you should choose a direct rollover. If you have both a traditional (pretax) TSP account and an after-tax Roth IRA, it is best to do the TSP-to-traditional-IRA direct rollover first. This will avoid creating a big upfront tax bill. Taxes The Thrift Savings Plan has some unique tax rules that apply when you roll...
Read More
1 oz gold bars are among the most sought-after bullion products on the market and can be easily obtained from numerous mints and refineries. These bars typically come equipped with an assay card that serves two functions: it protects it from being altered and serves as proof of its authenticity. Price Gold bars tend to sell for lower premiums than coins of equal troy ounce, making them an economical way of owning precious metals. Their compact size also makes them...
Read More
Physical precious metal IRAs incur storage and insurance fees that vary based on your IRA company and which coins or bullion coins you choose to invest in. These costs depend on what coins or bullion coins you select as investments in your IRA account. Gold IRAs can be set up either traditionally or Roth style, meaning pretax funds or posttax funds can be invested. Either way, however, they must be stored with an IRS-approved depository. Taxes Gold can be an...
Read More
Precious metals such as gold and silver are permitted within an IRA account, however ownership must remain with a custodian in accordance with IRS requirements. Precious metal investments are a popular means of diversifying retirement savings, and have traditionally been seen as an insurance against inflation and preserving purchasing power over time. What is an IRA? Individual Retirement Accounts (IRAs) are tax-advantaged accounts that provide tax advantages when saving for retirement. Precious metals are an especially appealing asset to include...
Read More
Investment in physical gold such as bars or coins can provide an effective hedge in times of economic instability. But before making this commitment, several considerations must be addressed prior to investing, including storage costs. Gold stocks, ETFs and mutual funds offer investors indirect access to precious metal production and storage without the same level of protection offered by direct ownership of physical bullion. Price Appreciation Longer-term, stocks offer higher returns than physical gold; however, during shorter time horizons gold...
Read More
Parents and grandparents can open 529 plans for children and other family members at institutions offering state plans or using tools like Backer. When possible, contributions can be supersized by making five years’ worth of annual gifts all at once. Customers can change the account beneficiary to include spouse, children or siblings; pay K-12 tuition or registered apprenticeship programs; offset student loan repayment or use savings as a tax write-off. Taxes Most beneficiaries switch beneficiaries in order to move to...
Read More
Gold has long been considered a safe investment, but is it really suitable as part of your retirement strategy? You have several ways of purchasing physical gold such as coins or bullion; ETFs or mutual funds which deal with it also exist as viable investment vehicles. Both options present risk, so experienced investors are best-suited for either strategy. It’s always wise to consult a financial planner or advisor when planning any investment strategy. It is a safe investment Gold investments...
Read More
As any qualified financial adviser will attest, diversification is key for creating a sustainable retirement portfolio. Gold can help diversify your investments by adding stability and protection against inflation. To transfer your IRA into gold, first select a custodian that accepts physical gold as part of their inventory. Transferring funds can then take place using direct rollover, without incurring penalties or taxes from either account. What is an IRA? An Individual Retirement Account, or IRA, allows you to save for...
Read More
