How to Use Your IRA Approved Gold and Silver to Create a Retirement Fund

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If you’re looking to establish a sufficient retirement fund to support yourself as you settle into your post-working life, consider transferring your gold and silver assets into a secure Individual Retirement Account (IRA). More and more people looking to invest in their retirement are opening an IRA with a gold IRA company, rather than with a traditional bank.  Collecting your IRA approved assets and starting an account is usually a simple and straightforward process that can be accomplished online.

IRA approved gold and silver

Gather Together Your Precious Assets to Determine Their True Value

Bullion, gold coins, silver coins and proof coins can all be rolled over into retirement savings that just might prove to be more profitable than traditional stocks, bonds, mutual accounts and monetary retirement funds. This is because the worth of U.S. and international currency depends on inflation – as the cost of prices and goods increases, each dollar in your account is worth less. Gold assets, however, have an intrinsic value that does not depreciate over time.

So what does this mean for your retirement fund? Reselling your gold assets can reap you a handsome reward, unlike some monetary-based investments. In the past, investors have purchased $33,000 in gold assets and sold those assets 13 years later for $175,155.64.

Purchasing just a few gold, silver, platinum and palladium assets for about the price of a car can therefore end up sustaining you throughout retirement. It is easy to see why this option is starting to trump traditional retirement saving options. IRA approved precious metals are available from almost every country in the world and tend to increase in worth even during times of economic trouble. They include:

Rare gold – gold that is no longer minted or minted very occasionally

90% silver coins – U.S. dimes, quarters and half dollars with a high amount of silver minted before 1964

Proof coins – early samples of coins created for historical purposes and to test the color and durability of the coin dies

Although these IRA approved assets are the most common, they are by no means your only options for investment. Those who do not have precious metals, or desire more metals in order to reap a bigger retirement award, are often excited at how wide and varied the world of coin collecting can be.

Purchase IRA Approved Gold for Your Retirement

You don’t have to be an expert in precious metals to make smart investing decisions. Searching for and purchasing IRA approved assets simply involves browsing reputable websites for available commodities. A gold IRA company interested in the financial security of its customers often has an online store and possibly price charts and reading resources available.

Saving for your future takes careful consideration. Investing in gold and silver is still very much a niche market, thus if you have any questions it is recommended that you reach out to a knowledgeable financial advisor. A trusted representative can provide you with important information about the current state of the gold market, the possible risks of your investment, how it can benefit your future and which precious metals are truly the most likely to increase in value.

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Start Your Online IRA Safely and Securely

Once you have gathered together your assets or purchased the assets that you desire, you can begin to create an online retirement fund. In addition, if you have an existing 401(k) or other monetary retirement account, you can rollover your IRA approved gold assets into that existing account.

Most investors have to do the latter. The process often involves annual fees for the insurance, management and proper storage of the metals that can add up to as much as $225 per year.  To offset these costs, rollover your assets only when you are sure that your metals have a high value and the current contributions to your existing IRA are large enough to make the transfer cost-effective. Again, a quality IRA gold company can make this potentially confusing process a lot easier by helping you make intelligent decisions every step of the way.

Opening a new IRA involves completing an online application with an established IRA gold company that can maximize the benefits of your IRA approved assets rather than riddle you with distracting offers of side investments. A reputable IRA gold company should have:

A good rating with the BBB

Little to no customer complaints

An experienced track record – the best companies have been open between 10 and 15 years

Patient and honest customer service – if representatives offer you a syrupy sales pitch, the company is not the real deal

Opening a new account for your IRA approved gold and silver can provide a workaround solution if you have an existing IRA with a traditional bank institution. These traditional accounts may not be willing to accommodate the responsibilities that come with your gold ownership, such as the more expensive insurance, or extra cleaning and maintenance needs. If this situation applies to you, start a more self-directive IRA with an independent company. It is possible to transfer your existing funds to a new account and then proceed with the rollover process. 

Whichever of the three options you need to do, it shouldn’t take longer than a few weeks to finish. Once you have opened an IRA account, you are free to purchase and add assets to it until you are ready to cash it all in for that dream vacation 30 years down the road.

Increase Your Retirement Funds by Becoming an IRA Approved Gold Seller

Perhaps the most exciting aspect about starting a gold-based retirement fund is that it provides you with the freedom to withdraw or sell your assets before you reach retirement age. While traditional IRA accounts bind the investor into a forceful withdrawal, gold-based IRAs give him the freedom to start retirement early if the accrued value of gold exceeds his expectations, or withdraw his precious metals to sell to an interested buyer.

Whether you’re looking to purchase IRA approved gold bars or wheel and deal on the international gold market, it is all possible with a gold-based retirement fund. With a simple application process and the potential for massive value accumulation, investing in an IRA just might provide you and your loved ones with the financial security they need.