When you are planning for retirement, it’s important to understand all of your options regarding Individual Retirement Accounts. With an IRA, you can put some money aside for your future, and save on the taxes now. There are several different ways you can utilize an IRA to ensure you receive the best profitability for your retirement. One of these is by investing in gold IRA companies.
What is a Gold IRA?
A gold IRA account is sometimes referred to as a precious metals IRA and is a form of retirement savings that utilizes actual gold currency instead of paper money. It functions largely the same way that a typical IRA does, except that it needs to be managed by a trustee or custodian company, and have approved gold or other precious metals held in a secure depository.
With a gold IRA, you can fill your investment portfolio with physical assets like bullion coins or bars, instead of cash, stocks and bonds. It’s a good way to create a diversified portfolio that is protected against inflation and smooth out the riskier assets, especially over the long term. In fact, with a world market that is increasingly unstable, more and more investors are turning to gold IRA’s as a better way to secure their financial future. Some additional benefits include:
While an unstable market may decrease the value of paper stocks and other investments, it actually helps to raise the value of gold, because demand begins increasing for precious metals. Since gold cannot be reproduced, it is constantly becoming scarcer and therefore more valuable.
Gold is an investment that is tax-deferred, meaning investors only have to pay taxes on it when they are ready to withdraw. This allows you the opportunity to accumulate wealth with your gold for many years without ever having to worry about paying taxes on it.
Perhaps one of the most important reasons to consider Gold IRA companies is the diversification it provides to your retirement portfolio. Precious metals allow you to protect against volatility and declining markets. It’s important for all investors to diversify their retirement accounts. While mutual funds and stocks and bonds have a place in a portfolio, they shouldn’t completely dominate it. Since gold won’t have a large fluctuation, it protects investors from total loss.
Protection Against Inflation
Paper money isn’t very valuable without a form of international currency to back it up. While governments continue to print more paper money, smart investors know that the feds can’t simply create more gold when the demand for it rises. This protects gold assets against inflation. Gold is a precious commodity that will remain strong, even if paper currencies fail.
Comparing the Best IRA Companies for Gold
While it may seem tempting to purchase bars of gold and stash them under your bed for a retirement savings account, there’s actually a more secure and trusted way to access and manage your gold IRA account. The first step is to work with brokers or IRA companies that can help you purchase your gold. Once you’ve done that, as mentioned previously, you will need to work with a custodian for your gold IRA’s. A custodian is typically a bank, credit union, trust company or brokerage firm.
There are many different gold IRA companies that can help you create and administer your account. One of the most trusted names in the industry is Regal Assets, an official gold IRA company that offers expertise to investors. Before you begin your search, keep the following in mind:
Make sure you understand all of the associated costs up front, so you can avoid any hidden surprises later on. The best IRA companies won’t have any hidden fees.
Your retirement investment needs are going to be different than your neighbor’s. Choose one of the best IRA companies that can provide you with exactly what you need, rather than a one-size-fits-all option.
Proven Track Record
Try to find IRA companies that have a proven track record, preferably with objective third-party companies, such as the Better Business Bureau or the Business Consumer Alliance. Find a company that offers educational opportunities to learn about the investment potential with gold, rather than simply a hard sell.
Make sure whichever company you choose has the appropriate and required insurance, registrations and licenses to manage your accounts. Ask to see proof of these documents in order to protect your investment.
The Importance of a Well-Balanced Portfolio
The goal of any retirement portfolio is profitability. Balance is the key to ensuring your portfolio will pay off in the long run. Not only does it help control the risk factors, but it also helps you create a plan for the future. Nothing is completely guaranteed in finance, but a well-diversified portfolio from IRA companies helps ensure you get paid.
You may have seen stocks that have hit rock bottom before, or bonds that have defaulted. Gold has thousands of years of experience in being a worldwide valuable currency. Its worth can never hit zero, but it can be subject to some price decreases. To protect yourself against your gold IRA losing a little value, make sure your portfolio is well-balanced and diverse. If the price of gold dips a little, it likely means your paper assets are doing better. The same can be said for the opposite effect as well.
The financial crisis that occurred in 2008, and the resulting recession that lasted several years, created a huge demand for gold IRA’s. The interest in gold products has continued to increase over the past few years as investor’s have seen the potential for inflation with the Federal Reserve’s stimulus programs and the increase in risk with other investments. The price of gold has also surged in the past several years, proving to investors that it may be a good reward when it comes time for retirement.
Contact Regal Assets Today
To ensure that your retirement portfolio is diverse and well-rounded, contact one of the best IRA companies for gold. Not only can the team at Regal Assets help you with retirement savings, but they can also recommend the right gold options to ensure a safe, secure approach to investing. Call today at (877) 962-1133.