If your goal is to use a 401k to Gold IRA Rollover to protect your retirement assets, you are among the many of other savvy investors choosing to put their trust in precious metals. As you well know, gold has been the go to investment in times of economic uncertainty and inflation.
Backing a portion of your portfolio with gold or silver can provide you comfort in knowing that you possess “real” money in addition to your fiat dollar based paper investments. A Gold IRA can also reduce the volatility of your retirement portfolio. Historically, gold has moved counter to the direction of stocks, bonds and mutual funds. Below is an example of the performance from 2004 of a Gold IRA.
401k Rollover Basics
Basically 401k rollover involves moving funds from an existing retirement plan into a “self directed” IRA that holds precious metals. The distinction when comparing a standard IRA and the self directed type is that in the latter, you choose what investments to position in your account
if you have an old 401k, one from a previous employer, it is very easy to roll over into physical precious metals. If you have an existing 401k with a current employer, it may be more difficult to roll over your plan into physical precious metals. You’ll nee to speak with a Gold IRA expert to determine if your account is eligible be rolled over.
When you rollover into a Gold IRA you own the precious metals in your retirement account, they are stored on your behalf and you can take possession at any time. For your retirement account you’ll want storage that is completely segregated with all metals are allocated. Allocated storage is the best way to store your gold, silver, platinum and palladium because you are the direct owner of the precious metals.
Currently the Internal Revenue Service allows certain gold, silver, platinum and palladium bullion in a gold 401k retirement account. Authorized Gold coins consist of the American Eagle Australian Kangaroo/Nugget, Austrian Philharmonic, Canadian Maple Leaf, U.S. Buffalo Gold (non circulated) in addition to the Credit Suisse gold & PAMP Suisse gold Bars (.999). Mexican Libertad coins are permitted in silver whereas Australian Koala and Isle of Man Noble coins are OK for platinum. Certain rounds and bars may be included in a precious metals 401k also.
Based on IRS guidelines, you have 60 days to move (aka rollover) your distribution to your new gold IRA custodial account prior to sustaining taxes and penalties. You have the ability to move your funds once every 12 months whilst preserving the tax-deferred condition of the assets. There are absolutely no tax ramifications or penalties for taking an existing retirement plan and moving it into physical precious metals.
The IRS sees precious metals as cash since they can be liquidated anywhere in the world with ease and requires that all precious metal retirement accounts are held in a private depository. The precious metals that are being stored for your retirement account are safe and fully insured. You may take possession of your assets at any time but it is important to know that if you cash out before the age of 59 ½ you would incur additional penalties.
For more information on gold IRA rollovers, outside the extent of this website, we recommend getting one of the top Gold IRA Rollover Kits offered on the internet. This particular guide, from Regal Assets, clarifies the details of 401k to Gold IRA Rollover investments along with the ability to ask questions from a qualified representative all for free. High pressure sales people are not involved in the query process, only the ability to inform yourself prior to arriving at a very important decision.
We do highly recommend Regal Assets to our readers when they need to facilitate a Gold IRA or 401k. Regal is a leader in the gold market and they focus on handling precious metals retirement accounts for investors like you. The two main reasons that most of our readers choose Regal Assets is their A+ Better Business Bureau score (the highest possible ) and page after page (570+) of favorable client testimonials on consumer websites like Trustlink.com. The combined excellent rating from the Better Business Bureau, hundreds of enthusiastic, positive remarks from real clients and low fees was more enough for us to highly recommend Regal without hesitation.
If you have at least $10,000 for a 401k to Gold IRA Rollover, you should certainly take advantage of Regal’s complementary Gold IRA Rollover Guide or call them directly toll free at 1-888-745-7957. You’ll be glad you did.