Articles Categorized in: Blog
After an IRA account holder passes, beneficiaries have many choices available to them when dealing with their estate. One option could include rolling over assets into a new IRA under their own name. This strategy offers tax-deferred growth while avoiding early withdrawal penalties of 10%. Before choosing this path, however, it’s advisable to consult a financial professional first. Rollover Beneficiaries can transfer an inherited IRA into their own account and follow all applicable contributions/distributions rules and RMD requirements, with any...
Read More
If you want to store physical gold in an IRA, a special account called a Gold IRA should be created. These work similarly to standard IRAs while offering tax advantages. However, these investments only allow you to purchase precious metals that meet IRS standards, and their fees tend to be higher than traditional IRAs. Benefits Gold IRAs provide investors with a way to diversify their retirement savings with physical precious metals, offering both inflation protection and portfolio diversification. But these...
Read More
Gold is an intangible asset that does not pay dividends, making it more expensive to buy and sell than stocks or bonds. Furthermore, in order to comply with IRS rules regarding IRAs containing gold holdings, an institution-to-institution transfer must take place to create them. Physical precious metal investments offer many advantages over more conventional assets in an Individual Retirement Account (IRA). These benefits include: Tax-free growth Gold and other precious metals can help provide your retirement investment portfolio with some...
Read More
IRA approved gold refers to precious metals that comply with IRS standards for inclusion in an IRA account. They must be stored at an IRS-approved depository. A gold IRA company will facilitate selection of an account custodian and depository, and ensure your investments comply with all IRS regulations. What is an IRA? An Individual Retirement Account, or IRA, is a tax-deferred savings vehicle that enables individuals to save for their future and take advantage of certain tax benefits. A Roth,...
Read More
Gold IRAs present both advantages and drawbacks; before investing, consult with both your tax and financial advisor for advice. Gold IRAs entail various fees, such as an initial account setup cost, annual account maintenance fees, seller’s commissions (payable to the depository), storage fees (paid directly), insurance premiums and shipping expenses. They are a hedge against inflation Gold IRAs provide several benefits, including protection from inflation and diversifying a retirement portfolio. Furthermore, they may provide tax advantages; to know for certain...
Read More
Gold can add diversification to a portfolio, but it is essential to understand its risks. Most advisors recommend keeping exposure below 10% of assets. Investors can buy physical bullion from coin dealers, jewelry stores or pawn shops; however, it can be expensive to store and insure. More sophisticated investors may trade gold futures or options contracts but these investments can be more speculative. Buying Gold Gold has long been considered an appealing investment option among some investors. Rare and accepted...
Read More
Answers depend on how you plan on using metals. Gold can serve as a great diversifier and protect against inflation; however, physical precious metals come with significant fees that could erode returns. The IRS considers precious metals to be collectibles and, thus, cannot allow IRAs to own them. To circumvent this issue, you will need a custodian who can purchase and store your precious metals in an approved depository. Tax-deferred growth Gold IRAs are special accounts that allow investors to...
Read More
Your custodian of an Individual Retirement Account can have a dramatic effect on your investment options. Look out for providers that limit you to stocks, bonds, ETFs and mutual funds as possible investments for your IRA. An IRA custodian should offer FDIC-insured investments and money market accounts as well as actively traded assets. Brokerage firms or insurance companies could also serve as potential IRA custodians. Self-directed IRAs Self-directed IRAs (SDIRAs) allow investors to invest in alternative assets like real estate...
Read More
Transferring a 457(b) into an IRA involves several steps and requires an in-depth knowledge of rollover rules and tax implications, but also allows you to consolidate retirement savings while expanding investment options. Nongovernmental 457(b) accounts can typically be converted to most types of IRAs; however, you cannot convert a governmental account. Tax-deferred growth A 457(b) retirement account provides savers with an effective and tax-efficient means to build their nest egg for retirement. Similar to Roth IRAs, 457(b)s provide tax-deferred growth...
Read More
Establishing a gold IRA requires selecting an IRS-approved metals dealer, an IRA custodian and depository institution. It’s wise to research potential gold IRA providers carefully by comparing transparent fee structures and customer service, before selecting your provider. The top gold IRA providers do not impose unnecessary setup or transfer fees, provide competitive pricing plans and run promotions that waive storage fees. Investing in gold Gold IRAs allow investors to hold physical precious metals as investments within their retirement account, much...
Read More
