A Gold IRA is actually a colloquial term for a Self-Directed IRA. A Self-Directed IRA is an individual retirement account (IRA) that allows the account holder to legally invest in gold and other precious metals, as well as other alternative investments such as real estate.
Why a Gold IRA is a good idea
Many folks have seen their retirement assets get destroyed by the volatility of stocks, mutual funds, bonds, and securities during virtually every recession we’ve lived through. Even supposed “low-risk” investments during these times saw losses.
Each person has their own unique financial situations and goals for their retirements. As such, each person must follow a path towards accomplishing those unique objectives, contingent upon several factors likewise unique to each investor. One such path you may wish to follow, that has proven time and time again to be a safe-haven during times of economic turmoil, is gold.
What kind of retirement accounts you can change into a Gold IRA
If you’d like to open a Gold IRA you can roll over assets from any existing Traditional, Roth, or SEP IRA you may have. You can also roll over 401(k) or 403(b) assets into a Gold IRA, and you can actually do this roll over without contracting any penalties or fees.
How gold protects your portfolio
A Gold IRA permits you as an investor to safeguard your retirement. A gold IRA is genuine physical gold – it can’t be hacked, it can’t be controlled by world events or international relations. It is genuine, you can touch it, hold it, and you can claim it as a major aspect of your retirement portfolio.
Why Gold IRAs are safer than Gold ETFs
Physical gold conveys no counter-party hazard; it can’t be printed voluntarily by any national bank, it’s physical property that can’t be weakened. One of the essential motivations to utilize gold as a retirement asset is that it diversifies your portfolio in a way that is contrarily matched up with the stock market.
Gold can protect your portfolio when the economy crashes or hits a recession. On the other hand, Gold ETFs (Electronic Transferred Funds) invalidate the safety advantage of gold since it profoundly coincides with the banking system.