Articles Categorized in: Blog
The IRS limits indirect rollovers to one every 12 months across all your IRAs – traditional, Roth, SIMPLE and SEP IRAs alike. The one-rollover-per-year rule may seem straightforward enough, but its complexities can be tricky to master and understand. Missteps could result in income taxes and penalties being assessed against you. There is no limit on IRA to IRA transfers. Rollovers are the best way to transfer funds between IRAs of similar types, such as moving traditional IRA funds to...
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Dave Ramsey is a beloved financial expert renowned for helping millions of people escape debt and build savings. His advice has inspired multiple best-selling books and a nationally syndicated radio show. While his overall message may be accurate, some of his statements about gold and silver may be misinforming. Precious metals offer diversification benefits as effective hedges against inflation. Investing in Precious Metals Financial markets are constantly in flux, yet physical precious metals provide real protection from economic upheaval. Precious...
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Elliott Wave Theory has become one of the go-to methods for analyzing market trends. First developed by Ralph Nelson Elliott during the 1920s and 1930s, this technique took hold because it revealed financial markets to follow an underlying predictable pattern despite their apparent chaos. He discovered that these patterns are fractal in nature. He classified the various patterns and found they repeat across all degree levels of trend. What is Elliott Wave Theory? Elliott Wave Theory is a pattern of...
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People frequently choose to sell gold due to privacy or discretion concerns or desire for discretion in financial dealings, however keeping their transactions anonymous requires adhering to specific legal frameworks. Precious metals dealers must report to the IRS when customer purchases exceed cash reporting thresholds; this applies to payments made using currency, money orders or cashier’s checks. Reporting Requirements Under certain conditions, precious metal dealers are legally required to report bullion sales to the IRS. These cases include customer sales...
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Expert investors want their money to work for them. Unfortunately, gold does not deliver this benefit – its returns are low, while it can be costly to purchase and store. Gold is not liquid and therefore not recommended as a hedge against inflation or store of value. It’s not a hedge against inflation Gold has often been touted as an effective protection against inflation, yet it often trails behind stocks and other assets during times of high inflation. Furthermore, it...
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To invest in gold with an IRA, the first step should be finding a custodian who specializes in handling physical precious metals. Such companies charge fees for purchasing, holding and selling the gold–this can quickly add up. Physical precious metals are inefficient investments for an IRA due to the costs involved with owning them directly; instead, investing in an exchange-traded Gold ETF could prove more cost-effective. Taxes Gold coins are an easy, accessible way to invest in precious metals. Trading...
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Though tax loss harvesting may seem straightforward in your taxable accounts, it can be more complex when dealing with retirement assets like IRAs due to how their investments are treated differently from taxable accounts. Losses for new Roth IRA accounts with smaller balances that are valued below their basis and investors who itemize deductions are ideal candidates for tax losses; however, other methods are also available to improve an IRA’s tax position. Eligibility Traditional IRAs are individual retirement accounts that...
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Gold can be an attractive asset to diversify your retirement portfolio. It provides an attractive hedge against inflation. Before investing in a gold IRA, however, there are a few considerations you must keep in mind before investing. These include fees and taxes as well as difficulty selling gold due to it not being liquid. Taxes Gold has a low correlation to other investments, which makes it ideal for diversifying your retirement portfolio. Before deciding if gold is appropriate for you...
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The IRA regulations state that only bullion coins with a fineness level of 99.5 are acceptable, thus ruling out collector coins like South African Krugerrands and British Sovereigns as suitable candidates for acceptance into its program. Precious metals have long been seen as reliable investments, particularly during periods of economic unpredictability. Silver is among the most popular precious metals for investors to choose. Purity The Silver Krugerrand coin produced by the South African Mint is eligible for inclusion into an...
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Gold IRA investments are becoming more and more popular, though their value may fluctuate over time. Retirement savers should understand both their benefits and drawbacks before consulting with legal, financial, or investment professionals regarding whether this form of retirement account fits their individual financial needs. The Taxes Gold IRAs may provide diversification and protection from inflation, but annual returns alone don’t tell the whole story of how your investment performs. You also must take into account tax implications; precious metals...
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