Gold IRA Rollover Guide: Step By Step

A gold IRA rollover is easier than it once was, but maximizing returns still requires taking the right approach. This gold IRA rollover guide will set you on the path towards a financially stable future. Once you understand this process, you will be ready to move forward with confidence.

Why Invest in Gold for Your Retirement?

Dedicating a portion of your retirement investments to gold can serve you well for a variety of reasons. Recent economic turmoil has clearly shown that when wealth preservation is at stake, traditional investments are not necessarily dependable. By contrast, gold tends to remain stable or even rise in value when currency value drops. You can safeguard your funds and even profit by diversifying your portfolio with precious metals.

What Are the Benefits of a Gold IRA Rollover?

A gold IRA rollover lets you turn some of your existing retirement assets into gold, eliminating the need to start over with a new account. By rolling over some of these assets into precious metals, you may avoid the financial losses that accompany economic downturns when accounts are based solely on currency-backed stocks. If you are nearing retirement, such a loss could be devastating.

What Are the Disadvantages of Gold IRA Rollovers?

One potential disadvantage of gold IRA rollovers depends on your retirement timeline. Whereas a gold IRA rollover is virtually guaranteed to be profitable when retirement is several decades away, it should be chosen with care when retirement is near. In some of the latter cases, depending on economic predictions, investors may be advised to roll over a smaller percentage of their total IRA to gold.

Gold IRA/401k Rollover: Step by Step

In the below guide to gold IRA rollover setup, you will find five basic steps. First, you should check with your employer to confirm that you can perform a rollover with your existing retirement account. Second, you will need to find a trustworthy custodian for your gold IRA. Third, you should choose a reputable gold dealer from which to buy your gold. Fourth, you will have to decide how much of your retirement funds to convert to gold. Finally, you will be ready to execute your gold IRA rollover.

1. Check with Your Employer.

It is not uncommon for employees to use a gold IRA rollover to streamline the transfer of retirement funds from a retirement account at one employer to that at another. However, depending on restrictions at your present employer, you may or may not be able to perform a rollover of your retirement account there. With some employers, employees cannot rollover their retirement accounts to gold without first quitting their job. In certain cases, employees may only be able to roll over their retirement plan if they are older than 59 1/2 years old with an employer plan that allows in-service distributions. Also called an in-service withdrawal, this refers to the ability to roll over funds from an account at an employer for which one is still working. Many employers do not allow this. If your own employer does not, you should discuss your plan with them to find out if there is an alternative solution that works for both of you.

2. Find a Trustworthy Custodian.

A key point in this 401k to Gold IRA Rollover guide is that you must find a custodian that you trust. To begin, you should carefully research custodians and the experiences that other investors have had with them. All custodians must meet IRS regulations regarding storage and handling of precious metals. As you look into storage fees, you should consider the fee system and account for whether those charges might change in the future according to your plans. Everything you need to perform a gold IRA rollover, including IRS paperwork and disclosures of any transfer fees, should be included.

The Custodian We Recommend.

Among custodians, Regal Assets has continued to stand out for its high ratings at the Better Business Bureau, the Business Consumer Alliance and TrustLink. According to investors, service representatives at the company help investors through all steps of the rollover process. Forbes Magazine also included Regal Assets in its investment guide for 2013, illustrating the rightful place of the company in this gold IRA rollover guide. Why do we recommend Regal Assets?

3. Find a Reputable Gold Dealer.

Your custodian may be able to direct you to reputable dealers that offer the precious metals you want in the forms you seek. Ultimately, you should ensure that the metals you include in your gold IRA meet standards set by the IRS. Gold, platinum and palladium must be 0.995 percent pure or higher while silver must be 0.999 or higher. Coins are less stable in value compared to bullion because coin value partly depends on the collecting market. If you do include coins in your gold IRA, you can count on American Eagle bullion coins to meet IRS specifications.

4. Decide How Much Gold to Buy for Your IRA.

How much of your retirement account should you allocate to precious metals? This will vary based on your goals and economic predictions. If you feel that the economy will remain afloat in the future, you may feel satisfied with only one-tenth of your IRA as gold. If you want a more balanced portfolio, you might be more comfortable rolling over twice that percentage into gold. Maximum protection from economic turbulence may be had in a portfolio that is about half precious metals.

5. Execute Your Gold IRA Rollover.

You are nearing the end of this guide to gold IRA rollover setup and are ready to secure your financial future. If you have a custodian in place and know the type of precious metals you want to buy, it is time to make this happen.

Gold IRA Transfer Vs Gold IRA Rollover

A gold IRA transfer is different from a rollover in that the funds involved are moved without the retirement account holder ever coming into contact with the funds. During a rollover, the money is paid out to the account holder for deposit into the new account.

If you choose a gold IRA rollover, you will only be able to perform one rollover for a single collection of funds in a year without incurring taxes. This IRS rule is new for 2015. In addition, the rollover must be finished within a 60-day period.

This 401k to Gold IRA Rollover guide outlines the steps involved in rolling over your existing retirement funds to precious metals. Before beginning this process, you should check with your employer to confirm that this is an option. Next, you will need to locate a gold custodian and a gold dealer with a good reputation and the services you need. Finally, you will be ready to decide how much of your assets to roll over and which precious metals will constitute your gold IRA. With services like those offered by Regal Assets, preparing and executing a gold IRA rollover is simpler than ever before.

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