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The Golden IRA

Although it may have seemed like an investment fad this spring, gold investing in your IRA is now a serious strategy. This is a great move for retirement accounts that want stability and security for the coming years. The fear of inflation is a major concern for economists as we hear the term “Second Stimulus” being loosely used to the general public. In this situation, the economic lesson is clear: if you print too much money it devalues and tangible assets like real property and gold will increase in value. You can see Rosland Capital for more information.

There are many ways that gold can be kept in IRAs and retirement accounts. Here are the most popular ways you can hold Gold.

o Bullion and Gold Bar
o Certificates in Gold
o Money of Gold
Gold Mutual Funds

A Self-Directed IRA allows you to easily own gold bars. The IRA owner holds complete control over their investments. Usually the IRA owner directs the administrator to purchase the Gold through a prearrangement with the dealer the client selects. The depository, a large company holding the gold, is typically where it is kept. The security of your gold is guaranteed by the depository. There are many large depositories all over the United States. There will be a charge to store your gold. However, most depositories won’t commingle it. It is easy to sell gold. Your depository will buy the gold and then transfer it back to your IRA. Entrust is one of the top administrators of Gold IRAs.

Common argument is that gold should be held in mutual funds. This is a great way to buy silver and gold, but it is not the best. Fund managers can make decisions about fees and expenses, so the investor has no control over what they charge. It is important to keep costs low and preserve your principle. However, this is not true for a gold mutual fund.

While we will be using the Gold throughout the article, any precious metal can also be stored in an IRA. The most commonly held are silver, platinum, and palladium. Each has its risks and can be subject to certain guidelines. Holding actual gold is easy and common, but holding silver outright is difficult due to its heavy weight and inconvenience. This statement is supported by the author.