How to Select a Gold IRA

With today’s uncertain economy and still-volatile stock market, many investors have chosen to include alternative investments such as gold and other precious metals in their retirement savings accounts.

Yet, while this particular financial vehicle can offer nice growth opportunity, along with a hedge against inflation, it will be necessary to set up a special type of IRA account in order to hold these physical assets.

Research Potential Gold IRA Companies

Prior to setting up a gold IRA account, investors should thoroughly research several different companies in the marketplace. In doing so, it will likely become clear that some gold IRA companies may be a better fit than others in terms of products that are offered and the customer service aspect.

When conducting a search online, it is important to keep in mind that while there may be a large number of companies that offer gold IRA accounts, all of these companies are not set up to be IRA custodians.

This means that in some cases, the company in question may not have actual storage facilities for the physical gold and other metals assets. With this in mind, it may be best to go with a gold IRA company that also serves as an IRA custodian.

Study the Company Reviews

It is also a good idea to research and read all of the company reviews. By reading all of the customer testimonials – both good and bad – it will help to get a better feel for how the company treats its customers and invests its customers IRA funds.

As more companies enter into the gold IRA market, it may seem that there is an overwhelming amount of information to digest. Yet, by sticking with those firms that only have high ratings and primarily positive reviews, it will easier to pare down the list.

Companies such as Regal Assets, for example, have consistently come up with positive reviews from the various ratings agencies such as , as well as from the . In addition, the bulk of the customer feedback regarding Regal Assets is positive – which is also a very good sign.

Determine How Much You Will Invest

When making deposits into any type of IRA account, investors must abide by the maximum contribution limits that are set forth by the . Each year, the IRS stipulates how much new money may be contributed into IRA accounts – and, for investors who have more than one IRA, this maximum is a total amount, not an amount per IRA account.

In 2013, this maximum contribution limit is set at $5,500. However, for those who are age 50 and older, an additional $1,000 “catch up” contribution is also allowed, making the total for those investors $6,500.

There is also another way to fund a gold IRA. This is with money from either another IRA account, a former employer-sponsored retirement account such as a 401(k), or both. Therefore, if these monies are just sitting dormant – or, if an investor simply wants to move the funds over to a gold IRA – a rollover contribution can be made.

Taking the Next Step

When ready to move forward with opening a gold IRA account, the metals company should be contacted either via phone or online in order to obtain all of the necessary paperwork. Once all documents have been completed and returned, the metals company will process the information and the initial gold IRA contribution may be made.

If a contribution is being made via an IRA or 401(k) rollover, the plan administrator from the current account will be contacted and arrangements will be made to transfer or rollover the appropriate amount of funds.

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