Does a 401k to Gold IRA Rollover Make Sense For You?
Assuming that you own a 401k like countless other American employees, you are actually saving money for your retirement plan. A 401k makes setting funds away for the long term as easy as can be. Your company plans it and typically, provided that you still work for that company, you are going to constantly contribute into the account. Of course there are additional methods to save for your retirement plan, however if you do not have something better set up than a 401k) is most likely the most effective solution .
It enables you to save money in a tax efficient manner.
You set aside a small amount of funds monthly.
The cash is taken directly from your paychecks.
Your workplace may match your contributions.
All of the management is handled for you.
In the long term, you ought to get decent gains on your investments .
A 401k is a fantastic way to begin saving money for your retirement plan. It is a simple strategy that does the job effectively for lot of people, the majority of the time. Nevertheless, several of these particular details can indicate there can be a period when a 401K) wouldn’t be the most effective savings program for you anymore.
Investment choices/decisions are done for you.
The accounts you are put into could be more unpredictable than you are accustomed to.
Your portfolio may not be appropriately diversified.
You may not be able to augment your program.
Another disadvantage of most 401k accounts is that they are generally US dollar denominated paper investments. If the stock market crashes or the fiat currency US dollar fails, what happens to your life savings? Many astute investors are turning to physical precious metals to protect their life savings from incompetent government policy and financial collapse. But you may not hold physical gold and silver in a normal 401k.
Solution: A 401(k) Rollover into Precious Metals
There is an excellent option that allows to convert your existing retirement plan into one that allows you to include physical gold in your retirement portfolio. The process, called a ‘rollover’, essentially facilitates moving your money from your 401k into a Self Directed IRA. The IRS allows you to own physical precious metals in this type of account, hedging your life savings against disaster.
The rollover process involves asking your current plan’s administrator to transfer the cash value of your savings to the new provider’s plan. To prevent being liable for taxes and penalties on the money withdrawn you would need to re-deposit the funds into the new retirement plan account within 60 days. You are allowed to roll over the same funds only 1 time every twelve months to maintain the tax-deferred status of your account.
Note: There are ZERO tax penalties for moving an existing retirement plan into physical precious metals.
The experts at our top rated Gold IRA company, Regal Assets, can answer any question you may have (at no charge) about the rollover process. Their retirement account team will work with your current custodian in transferring over the appropriate funds into your new precious metals IRA quickly and easily. Visit their website now or give them a call toll free at 1-888-745-7957.