I Have an IRA. How Can I Invest in Gold and Silver? | Deviant Investor | How to invest in gold

I Have an IRA. How Can I <b>Invest in Gold</b> and Silver? | Deviant Investor | How to invest in gold

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I Have an IRA. How Can I <b>Invest in Gold</b> and Silver? | Deviant Investor Posted: 19 Sep 2012 11:05 PM PDT Read the Latest News About: Gold    Silver    Economy    Central Banking (September 2012) It is quite easy! Yes, I am talking about actual physical gold and silver, not "paper" gold, or certificates, or paper promises. Question: Why gold and silver in an IRA? Answer: The simplest explanation is that gold and silver will protect your purchasing power. There are many other reasons including safety in the event of another economic melt-down such as what happened in 2008. Question: Why not buy ETFs (Exchange Traded Funds) that invest in gold and silver, such as GLD, SLV, PSLV, and PHYS? Answer: You certainly can. They are more convenient to buy and sell, and the annual fees are less. But, if you are looking for maximum safety, purchase metals in your IRA and have them stored in a secure, insured, private vault. New eBook Survival Investing with Gold & Silver by GE Christenson – aka Deviant Investor Kindle      All Formats Want to be an Affiliate? Question: Why can't I store them in my personal safe deposit box instead of a private vault? Answer: Per the IRS code, you can't take delivery until you pay taxes. Don't fight the IRS. Question: How do I open an account? Answer: Find a self-directed IRA custodian who will allow precious metals in your account, complete the paperwork, send it and the initial fee to the IRA custodian, and they will open the account. Question: How do I find a self-directed IRA custodian? Answer: Go to your favorite metals dealer – there are many – and look at their recommendations. My preference is Apmex.com but there are many fine choices for metals dealers, and they can recommend IRA custodians. Apmex currently suggests seven IRA custodians on their website. Question: Once I get the account, how do I fund the account? Answer: You can fund it with a non-taxable (partial or total) roll-over from an existing IRA, 401k, or 403(b) account, or by contributions under the current IRA rules. Question: Then what? Answer: The IRA is open, the money arrives from the rollover or contributions, and the IRA custodian asks you what you want to purchase with the funds and what dealer (such as Apmex) you wish to use. You tell the dealer what combination of silver and gold coins and bars (there are a few restrictions regarding what coins and bars are acceptable in IRAs) that you wish to purchase. Question: Then what? Answer: The metals are purchased and shipped to a bonded, insured, private storage facility in Delaware (or wherever) and stored. They are not in a bank. The IRA custodian sends periodic statements showing transactions and estimated fair market value of your gold and silver holdings. Question: What does this cost? Answer: It depends on the custodian, the size of your IRA, and the storage facility. Assume $200 – $400 per year as an estimate. Question: Why so much? Answer: Fees, IRS regulations, accounting, profit, and expenses. Gold and silver have increased 15% to 20% per year for the past decade. How has your money market account performed in that time? How have your brokerage accounts and mutual funds performed in that time? Did you feel safe or vulnerable during the crash of 2008? Would you feel safer if your IRA funds were not held in the banking or financial system? After considering these questions, the fees may seem quite reasonable. If not, then stay with what has been working for you. Conclusion An IRA that invests in physical gold and silver is NOT for everyone, but it may be appropriate for a portion of your retirement funds. It will probably be safer in the event of another financial meltdown, but it will be more expensive than a traditional IRA, and it is less convenient and flexible. Choose what works for you. GE Christenson aka Deviant Investor If you would like to be updated on new blog posts, please subscribe to my RSS Feed or e-mail. Promote, Share, or Save This Article If you like this article, please consider bookmarking or helping us promote it! from your own site.

Great Advice For Making Money In The <b>Gold</b> Market <b>...</b> Posted: 19 Jun 2014 05:18 PM PDT Learning how to invest in gold is a key strategy for any investor. Investing is safer when you diversify and gold can be a part of that. But, where to start? You have a lot of choices, and that can be too much. Continue on with this article if you'd like to learn what goes into investing in gold. TIP! Consider a fair return policy as an absolute necessity when you're purchasing gold jewelry, especially if you intend to make a gift out of it. It's almost impossible to determine the value of your gold jewelry just by looking at it. Bullion bars are an excellent gold investment. They come in weights that vary. They can be as small as half an ounce or as large as 400 ounces. If 400 ounce bars interest you, know it will be hard to find them. When you sell gold, deal with a reliable buyer. You are able to find out more about their reputations with the local BBB and through online reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Do this to protect yourself and your gold investment. TIP! If selling gold using a mail service, find out how much shipping will be. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Research a gold buyer before selling your gold. Read online reviews, check with the BBB, and see how the dealers resolve complaints. A variety of bids will ensure that you receive the best price. Consider delivery time when buying gold. If you don't get delivery immediately, get something in writing which confirms delivery of your pieces. The expected date must be listed. Don't proceed with the order until you have this information. TIP! Don't let others know you invest in physical gold. You don't know who to trust or who is listening. You might balk at the high cost of gold, causing you to select gold-filled or gold-plated items. Before settling for a gold plated piece, understand that there are great deals out there on solid gold jewelry. Pawn shops can offer many good deals and there are also many online buying options. Don't have much money? Invest in scrap gold. This can be done bit by bit. For example, you might invest a bit each payday to amass an impressive collection of gold as time passes. Be sure to stash your gold safely away until you decide to sell it. TIP! Be certain to review the sales contract carefully. If you are selling gold by mail, this is even more important. Selling gold depends on what sort of piece it is, be it a coin, bar or piece of jewelry. Most buyers will offer you just the melt value for your gold. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually. When you decide on buying gold the first thing to do is look at the spot price. You can find this on a variety of websites, and it can change daily. Paying for gold that is any higher than an 8% markup is not a wise investment. Some sellers try charging more, but that's overcharging, which is generally unethical. TIP! Have jewelry appraised prior to selling it to anyone as scrap gold. You should do this for special pieces. Think about GoldMoney and other such services when you want to buy gold. It's akin to opening up a bank account but with gold instead. All you do is set up the account, deposit funds, and then you are assigned gold to your account. Although you own the gold, it remains stored securely in the company's vaults. You can sell it, portion it out, or even (given the right conditions) arrange to take deliver of it yourself. Understand what you really have. Pieces that appear to be gold may not be worth gold's weight. A lot of times, metals are combined with gold to make the piece stronger. The price will be affected by this, often lowering it. Gold plated items may also be deceiving. When you don't know what you've got, have it appraised ahead of selling it. Comparison Shop Comparison shop prior to selecting your gold buyer. You might be amazed by the variety of offers received. If you stick with your first buyer, you could get a terrible deal. Get the most money for your gold by spending time to comparison shop. TIP! While gold may be a great investment, it may also be volatile. If you do not have the stomach for quick jumps up and down, stay away. You can use a magnet to determine the authenticity of gold. Gold and other precious metal will not be affected by a magnet, which means that they won't stick to it at all. Sometimes, the only thing real about a piece of gold jewelry is the clasp. That's a great way to make sure. You must know what investments to make before you actually start investing in gold. Some people will claim to be experts in the field. However, you have to be aware of unfounded promises regarding quick riches. You will certainly avoid the getting rich quick way of thinking if you have realistic expectations. TIP! Research each buyer carefully to ensure a good deal. Particularly if you are sending your gold via mail, it is crucial that you know the person is reputable. Those costume earrings you're holding in your hand may have real gold backs or hoops. Quite often, necklace clasps and ring bands are real too. Because these pieces do not weigh a lot, try selling them as a "lot." Selling lightweight gold in a lot will increase your chances of selling them. Gold is usually a safe investment but this precious metal can also be volatile. If the thought of volatility and constant changes is a turn-off, perhaps the gold market is not for you. Even if you are okay with taking the risk, you need to prevent downside risks. Never put more than just a fraction of your total investments into gold. A good limit is five percent. Karat Value When selling gold, separate it into different karat value groups. Gold values vary based on karat weight, so lumping different weights together will result in a reduction in the price received. The higher the karat value, the higher the value of your gold. TIP! If you are interested in purchasing gold, keep an eye out for gold coins made in the United States prior to the 30s. Gold coins were prevalent until President Roosevelt put a stop to their circulation. During the last decade, the value of gold has risen by four-hundred percent. This is good news for people who want to sell their gold. The value of the dollar directly correlates the value of gold. Weaker paper currency equates to a stronger gold market. If selling gold online is attractive, check the prices several times before making a decision. Many times there is a local dealer in your area that offers a much better price. Sure, doing it by mail is super convenient, but it could also be super costly. TIP! Sell your gold when the market price is high. Stock market values change every day. Understanding how you can invest in gold is key to diversification of your portfolio. Reading the above article has helped get you educated and make good gold investment choices. Be ever mindful of what this article taught you, and get going. .

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