Articles Categorized in: Blog
As a general rule, early withdrawals from IRAs and retirement plans before age 59 1/2 incur an early distribution penalty of 10%; however, the following exceptions allow you to overcome unexpected financial needs without harming long-term savings: Benefits may include medical expenses and unemployment payments. Furthermore, beneficiaries of inherited accounts can avoid penalties by rolling them over into non-inherited accounts of their own. Public safety employees Public safety employees serve our communities and devote their careers to safeguarding and serving...
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Gold has long been considered an appealing investment option for retirement accounts. However, investing in gold comes with some unique challenges and risks that must be considered before proceeding with any investment decision. Before investing, verify your precious metals IRA company is approved by the Internal Revenue Service as a custodian and be mindful of any associated fees that could reduce growth potential in retirement savings accounts. Legality Most IRA custodians allow only investments in publicly-traded stocks, bonds, and mutual...
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Goldco offers low minimum investments with transparent fees and buyback guarantees at competitive rates. They have also earned high ratings on Trustpilot and Consumer Affairs for customer service excellence. Goldco charges an initial account set-up fee, an annual maintenance fee, and storage costs between $100 and $150 for their IRA accounts. Lear Capital Investment in precious metals can be an excellent way to diversify your retirement savings portfolio, yet it is wise to consult a financial advisor first to see...
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Watching your 401(k) balance decline can be disheartening, but it’s important to keep in mind that investments fluctuate and there could be various reasons your account might be losing money. Rebalancing your portfolio on an ongoing basis can protect retirement savings from being decimated during market downturns or full-on crashes, and ensure that it matches with your risk tolerance. 1. Market Volatility Market volatility refers to the up and down movements in an investment’s price, which can be measured using...
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Gold dealers are somewhat regulated, yet most fall outside of the SEC and CFTC’s purview; thus leaving states and cities to address any instances of fraud when necessary. Bullion dealers must comply with KYC and AML regulations in order to avoid heavy fines, this regulation covering any dealer who sells or buys bullion. Compliance Bullion dealers must comply with various reporting requirements that ensure market transparency and meet tax and anti-money laundering regulations, which may differ by type of metal...
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When it comes to storing precious metals, you have the freedom to select between segregated or commingled storage methods based on your goals, preferences, and priorities. The decision should reflect what best serves your goals. Segregated storage provides an effective method of protecting the integrity of metal bars belonging to individual clients by marking each bar with their owner’s identity, yet requires more cost and paperwork processes than alternative methods. Personalized Service Goods segregation involves the practice of physically segregating...
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Individuals receiving Social Security disability benefits typically don’t need to pay taxes on them as the IRS typically considers SSDI taxable only when it exceeds a threshold determined by an individual’s tax filing status. When this occurs, up to 85% of SSDI benefits may be counted as income and individuals should consult a professional regarding these limitations. Benefits Typically, only half of an SSDI beneficiary’s monthly payments are subject to taxes; if his or her income falls below certain IRS...
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A 403(b) retirement savings account is offered to employees of tax-exempt organizations and operates similarly to a 401(k), offering employer contributions as well as mutual funds and annuities as investment options. Furthermore, this plan offers catch-up contributions for people over 50. Both plans offer benefits when it comes to saving for retirement; however, not all accounts are created equal. Tax-deferred savings A 403(b) plan can be an excellent way to save for retirement. By investing money from each paycheck before...
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Gold investments are popularly used to protect themselves from inflation and bear markets; however, their limited returns make storage challenging. In spite of these potential drawbacks, investors have long trusted physical gold as an investment vehicle when economies falter and currencies collapse. It remains an appealing option when governments struggle and the financial market roils. It’s a speculative investment Gold has long been seen as an asset that yields no income or cash flow; therefore, any addition of it should...
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Gold bars are an attractive investment choice for those seeking pure value investing in bullion. Most bars come with their weight and purity inscribed, making calculations easier. However, if your plan is to eventually sell the gold bullion you purchase it may be more cost-effective to purchase a series of 1 ounce bars rather than purchasing one large bar. Cost However, unlike gold bars that don’t possess any additional numismatic value and simply sell for their weight in gold, coins...
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