Many investors are looking for ways to diversify their retirement portfolios and reduce their exposure to stocks. Gold is one of the oldest and most stable investments in the world. However, if you want to invest in gold through an IRA, there are certain rules and regulations you must follow.
Let’s see how to rollover IRA funds into a gold IRA account, how to invest in gold with an IRA and what kinds of gold investments are available with an IRA.
What is a Gold IRA?
A gold IRA is a self-directed individual retirement account that allows you to hold physical gold bullion as part of your retirement portfolio. Unlike other IRAs, which allow you to invest only in stocks, mutual funds or bonds, a gold IRA allows you to invest in precious metals like silver and gold bullion coins or bars.
How Do I Rollover My Traditional IRA Into A Gold IRA?
Rolling over your existing traditional IRA into a new self-directed account is easy — all it takes is a phone call or letter from your current custodian confirming that they will be liquidating your account (including all assets) within 60 days of receiving written notification from you requesting it be done so via certified mail.
Once you have your new gold IRA account set up, you can then transfer funds from the sale of your existing traditional IRA into it. This is done by completing a check or wire transfer to the new custodian and sending them a copy of the check or wire confirmation as proof that the funds were received.
How To Choose The Right Gold IRA Company?
When you are choosing a gold IRA company, there are several things to consider. First, you will want to make sure that they are registered and licensed with the U.S. government. Second, they should offer competitive pricing on their products — particularly if you plan on investing a considerable amount of money. Third, make sure that their customer service is top notch.
GoldCo IRA has all of these qualities. They are a registered and licensed company that offers competitive pricing on their gold and silver products, have an excellent customer service team, and can make the process of opening up your gold IRA account fast and easy.