For Millennia, Gold has been a very reliable store of value since it hardly loses its worth in terms of what goods and services it’s value can be exchanged for. Gold is the basis of few countries’ wealth, hence, its demand keeps on rising regardless of the prevailing economic conditions. Since 1997 when the Tax Payer Relief Act was enacted, individuals have been allowed to hold various precious metals including gold, silver, platinum and palladium in the form of bars and coins in their Individuals Retirement Accounts (IRA). Gold is considered a much safer store of wealth than real estate or the stock market, both of which are vulnerable to losses due to unfavorable market conditions. In today’s world, demand for Gold has been pushed higher by investors in emerging markets, particularly in China and Russia. Many people today consider having physical Gold in there IRA, which is a wise decision, and it is becoming a more popular option.
The US is experiencing an increasing number of seniors with many being able to utilize their Gold IRA and other benefits attributed to it to make the secure the financial stability of their golden years.
What is a Gold IRA?
An IRA originally is an Individual Retirement Account while a Gold IRA is an Individual Retirement Account which allows Investors (Individuals) to own physical gold, silver and platinum for investment purposes. Retirement investment is an important decision in one’s life because it provides you with the opportunity to obtain and use the wealth that you have accumulated all your life.
Why is Gold an important asset?
As mentioned earlier, gold is a very reliable store of wealth since its monetary value is not affected by external factors. Gold is nature’s hard asset and it has been civilization’s store of value for thousands of years because it is a tangible, highly liquid asset.
Gold isn’t subject to the sorts of dilution and devaluations of other paper investments like stocks, bond and mutual funds, neither is the value of gold at the mercy of Governments or Financial institutions. It can’t be printed like money. In fact, gold historically moves counter to the direction of the stock market. Billionaires invest in Gold because they know that gold is an excellent way to reduce the volatility and vulnerability in their portfolios.
What is a Gold IRA Rollover?
A Gold IRA is an account where you store your assets in term of bullion coins and bars and not in terms of paper money. The rollover process is when you take your existing 401k, for example, and convert it’s investment holdings to physical gold and other precious metals. To start the process of doing a gold IRA rollover, you need to use a company that will do all the work for you, as there are processes that must be completed in order to avoid paying tax penalties. The Gold IRA rollover process should be TAX FREE. It’s advisable to work with a company of huge prestige and reputation.
Dealing with reputable Gold IRA Companies
There are many highly rated companies that offer precious metal backed IRAs, but you need to do your research to find the best ones. Be sure to check their Better Business Bureau ratings as well as any complaints received in the last few years. Do not risk your IRA with companies that do not have a good record with the BBB. Also make sure to check out the ripoffreport.com for documented complaints about each company. Imagine if the current fiat monetary systems fail…a Gold backed IRA is an ideal way to protect yourself from any devaluation of the currency, which can lower the purchasing power of your IRA if held in dollars.
There are many options available to invest in Gold and other precious metals and if you already own an IRA, then it can be a smart option to rollover into a gold IRA…it’s TAX FREE.
If you own an IRA in the United States, it would be a good idea to consider switching into a Gold backed IRA. Click here to learn more about the best Gold IRA companies in the US and get protected from devaluation of currencies and hyperinflation.