When you choose to invest precious metal in an individual retirement account, the typical path you take is to have a supply of that metal stored somewhere where it is kept track of and maintained by a custodian. Because it will be in that group’s ownership, it is paramount that you choose the right gold and silver IRA custodians. Gold IRA custodians are the most commonly found among all the keepers of precious metals, and it is important that you find someone you trust. You need the best gold IRA custodian. You need Regal Assets.
You may be wondering why you would want to invest your retirement money into precious metals in the first place. The following facts will give you an idea of why an investment in precious metal is one of the best things you can do with your IRA.
Gold and the U.S. Dollar: A Brief History
Did you know that the U.S. dollar was backed by gold up until 1971? That’s right, every dollar used to be worth its weight in gold as a measure to protect U.S. citizens from the tyranny of central banks controlling the currency and thus the wealth of citizens. One of the main reasons the founding fathers took this measure in the Constitution was because Great Britain had devised a central banking system that American colonists did not agree with.
Central banks monopolize a national currency, being able to print it however much they please. This means that inflation is actually a result of central banks printing more and more money, causing the value of dollars to decrease. When backed by a precious metal like gold, dollars maintain a fixed value, so that even if more money is printed, there has to be an equivalent amount of that metal in circulation to correspond to the value of this paper representation as a backup. There is no checking and balancing system in place to control central banks, so when the Federal Reserve (the U.S. central bank) caught on in 1913, it was only a matter of time before it would move to eliminate the Gold Standard and take control of our entire currency.
What Does This Mean for Your Dollars?
In 1835, Andrew Jackson was able to use the gold backed dollar to not only clear all of America’s national debt, but bring it up to a $444,000 surplus. That seems a lot better than the trillions of dollars of debt the U.S. faces today. The dollar nowadays continues to depreciate in value. You can see by studying the economic histories of other countries how hyperinflation sometimes occurs. In the Weimar Republic of Germany after World War I, people famously had to carry wheelbarrows full of money just to purchase their basic food needs for a day. This happened because their central bank had been printing millions of marcs, causing the currency to decline at an incredible rate.
Could you imagine carrying a whole bin filled with dollars to the grocery store and only having enough to get your basic needs met? While we don’t see that happening today, the fact is that with the current currency that is basically backed by nothing, it is a possible scenario. Realistically, the Federal Reserve would not print that much money, but they certainly could if for some reason they decided to. If you invest in gold, you won’t even have to worry about such a nightmare. Putting your money in the hands of a gold IRA custodian is a way of keeping your money safe, because no matter how much the dollar inflates, gold will stay the same, fluctuating in value only as its demand and uses shift. This is true of other precious metals as well.
True Financial Independence
Investing in gold is not a lengthy or unusual process. In fact, 40 percent of gold produced in the world goes into investments like the kind of IRA you will be able to set up with Regal Assets. Governments and banks have complete control over currency, but gold is a finite resource—there is only the amount of gold that can be mined from the earth—no more, no less. That is in fact why central banks removed the gold standard that was supposed to be guaranteed by your constitutional rights. They want to be able to control all of the wealth in the world. The smartest investors and wealthiest people choose gold and other precious metals for their IRA savings. You don’t even have to be rich to invest your retirement savings in precious metals. You can set up a rollover plan so that your 401k transfers into a gold or other precious metal IRA instead of a standard IRA.
Securing Your Money in a Gold IRA
Among gold IRA custodians, the trend is to keep people’s investments safe and protected. The following are some measures that your custodial fee and storage fee will be paying for.
The option to liquidate your IRA metals for cash or to take physical possession of your metals at any time. This transaction is treated like taking an IRA distribution and, as stated in law, will be taxed.
The ability to rollover from your 401k into your precious metals IRA or to rollover between different IRA’s. This can also be performed via direct transfer.
An insurance policy large enough to cover the value of all of your assets. Custodians can have insurance policies as large as $1 billion.
Your precious metals will be secured in the most tightly guarded facilities. A typical storage facility utilizes timed locks, automated re-locking features, motion, sound, and vibration detectors that will ensure not even a mouse sneaks into your vault, and monitoring by elite guards 24 hours a day, 7 days a week.
It is of course important for anybody’s money to be kept safe and managed carefully by the best gold IRA custodian. The biggest advantage you get when you choose Regal Assets from your options of gold IRA custodians is the knowledge that you are putting you retirement money into an investment that will last, and will not be tarnished (no pun intended) no matter how much the value of the currency it was bought with changes. Among gold and silver IRA custodians, Regal Assets can’t be beat. Check out their website today.