A Gold IRA Rollover is a popular way for retirees to invest some of their retirement portfolio in gold bullion.
It is possible to use funds from an existing IRA or retirement plan and roll them over (a “rollover”) to a self-directed IRA which has been set up to invest in physical gold.
However, before you get into all of that it is best to understand some of the terms and the steps you can expect to take.
Let’s get started …
Some Terms You Need to Know
We thought we’d cover just a few of the terms to help you understand the rollover process.
|Rollover||This is the process of moving funds from a retirement plan custodian to another custodian. Rollovers are often completed when an employee leaves a 401(k) plan and has organized a traditional or Roth IRA to receive the rollover.|
|Transfer||A direct transfer involves directly moving the assets from one retirement plan to another. An indirect transfer occurs when assets are liquidated and a new retirement plan started and funded with the proceeds.|
|Custodian||As an individual you are not permitted to have direct title to the gold in your Gold IRA. A "Custodian" must be set up for your Gold IRA so that your gold is held safely and separately within a gold depository.|
Who Do You Need to Talk To?
You should always get professional financial advice from a certified financial planner. This way, you can weigh up all your options.
We cannot give you financial advice and only provide this website for information purposes. We hope it is useful in giving you some ideas you may not have thought about before.
If you have spoken with your financial planner and see the benefits of diversifying your retirement portfolio with gold bullion via a gold IRA, then you need to take the next step.
You should contact a gold bullion dealer who can setup your Gold IRA, buy your gold bullion or coins and arrange delivery to a nominated, secure bullion depository.
If you are not sure which gold company to choose, we would recommend you order a free gold investment guide to learn more about a Gold IRA.
The Simple 3 Steps to a Gold IRA Rollover
Moving funds between retirement plans is less complicated than you might think.
With the help of experienced staff you should be able to rollover funds from an existing retirement plan to a gold IRA in a matter of weeks.
We think the main thing to consider is a single point of contact through the process.
You don’t want to have to deal with lots of different companies.
|Step||Title||What You need To Do|
|1||Fund Your Rollover||Select an existing retirement plan to rollover to the gold IRA.|
|2||Setup Your Gold IRA||Establish a Gold IRA and custodian and then rollover your funds into your Gold IRA.|
|3||Buy & Store Your Gold||Use the funds in your Gold IRA to buy gold bullion and arrange for delivery to a secure gold depository e.g.; Brinks.|
What are the Advantages of a Rollover?
One of the main advantages of a rollover is you do not need to find extra funds to invest in gold bullion for your retirement. You are simply diversifying some of your existing retirement plan investments into gold bullion.
However, there are no issues in adding further funds to your Gold IRA – as long as it is within the IRS guidelines.
A Gold IRA rollover, as long as it takes place within 60 days from funds being released from your current plan, is tax-free.
An IRA has protection in law from general creditors. This gives your gold bullion an extra level of protection that you would not receive if you held the gold in your own name. This aspect alone makes a Gold IRA an excellent way to protect your retirement wealth.
Where is My Gold Stored?
When you buy gold as part of an IRA rollover transaction your gold IRA company should organize segregated storage for your gold at an IRS approved storage depository.
Our recommended gold company organizes gold to be delivered to Brinks storage facilities.
Brinks were established in 1859 and have an annual turnover of over $3 billion. They are one of the world’s leading precious metal storage companies.
Gold IRA Distributions
The advantage of a Gold IRA is that when it comes time to take distributions as part of your retirement planning, you can take the distribution as physical gold or you can convert the gold to cash.
Gold is traded on the COMEX exchange and there is always demand for the metal. So selling gold as part of your retirement plan is no issue at all.
Your gold dealer (who helped you setup the Gold IRA) will be able to sell your gold at a competitive rate when the time comes.
The Next Steps to your Gold IRA
The first step is to understand how to proceed with your rollover.
We suggest you order a free gold investment guide to learn more about the process. Click here to find out how to receive your free copy and bonus DVD.
If you’re ready to start the rollover process today, click here to visit our recommended gold company and call them to get started right away.