Precious Metals, especially gold and silver, are great for portfolio diversification and can be used to hedge against market volatility as well. The popular method of rolling over a 401k to a gold IRA is a great way to both invest and plan for a safer retirement. Now the question is, how do you establish an IRA-gold investment? Visit this site top gold IRA companies.
The Tax Payer Relief Act of 1977 created the option of adding physical precious metals in an IRA. Gold, silver, platinum and palladium are the permissible materials in a IRA that is gold. The gold IRA does not allow for rare coins or collectable silver and gold coins. Your precious metals broker will help you choose the right metals for your portfolio.
It is a smart idea to establish an IRA first before making a decision regarding which metals to purchase. It is a good idea to contact your current custodian for information about adding physical metals to an existing IRA. You may not be able to invest in precious metals if your current account has specific guidelines or IRA plans. Next, you will need to begin the process of a 401k transfer into a gold IRA account.
Your broker will assist you in selecting a custodian specializing in handling gold IRA’s. Once your broker has chosen a custodian, you will need some paper work. This will include information such as the amount you plan to roll into the new account and the names of any beneficiaries.