Are Gold IRAs Safe

Today, many individuals want to invest more in hard goods and less in stocks based on real estate and technology. Investing in gold can be a good hedge against stock market declines but gold prices lose value when the stock market rises again. Gold also tends to increase in value when the dollar value declines. Experts recommend that investors should have gold as part of a diversified portfolio that includes other investments in commodities and hard assets.

There are many advantages to rolling-over a portion of an IRA to invest in gold. In 1997, the Tax Payer Relief Act was passed which made it possible for precious metals such as silver, platinum and gold, to be added to IRA accounts. Physical gold is the oldest and it remains a strong wealth securing advantage. Many people are stuck with IRAs that are not performing. Investors are choosing to convert both Roth and traditional IRAs into Gold IRAs by way of gold coins and bars. Funds in an existing IRA can be moved to a precious metals IRA by transfer or rollover without reporting the action to the IRS. Along with this nice tax advantage, no restrictions apply and you can transfer as many times as you want. If you want to know more about IRA, read this gold ira rollover site.

You can get a Gold IRA by three different methods.

1. If your current IRA is appropriate for holding gold bullion, you can direct your IRA to add gold to your portfolio.
2. You can ask your IRA custodian to buy gold bullion and deposit them into your existing or new IRA account. Your custodian will be able to help you decide what to buy and how much.
3. Purchase gold yourself and deposit it with an IRS-approved custodian who will establish your new IRA.
Before choosing a Gold IRA custodian, every investor should determine that potential custodians:
• Are properly licensed by the IRS. This information is publicly available.
• Have FDIC insurance for uninvested funds. Generally you cannot be licensed by the IRS without this insurance but not always.
• Are willing to offer the investor most investments. Some custodians like to limit the investments they offer.
• Charge fees that are competitive with other custodians.
• Have been in business for several years.
• Provide documentation of turn-around time for investment approval and payment requests. Avoid dealing with a custodian that requires long waiting periods.
• Provide ongoing updates for investment effectiveness.
• Provide a current client list
If you are not happy with the performance of your current IRA or worry about the economy, consider checking into the advantages of a Gold IRA. The process is not difficult and a trusted IRA custodian can offer valuable advice that will ultimately strengthen and diversify your portfolio.