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The Best Gold IRA Companies For Your 401k to Gold IRA Rollover
On this website you will learn about the best rated gold IRA companies for 2021. Start with other satisfied investors reviews now!
The 4 Top Gold IRA Companies 2021
Are you frustrated with all the turmoil surrounding your retirement investments? Do you get a headache from just thinking about market fluctuations and political turmoil that impacts stocks? Are you ready to throw in the towel and just start stashing money under your bed?
I feel your pain.
Since the Great Recession in 2008, the markets have been volatile at best. They may go up considerably on some days and drop drastically on others. You are never sure what to invest in anymore because public opinion sways the market more than economics.
So how do you make sure that your retirement savings are protected? There is no way that you can guarantee your investments 100 percent, but there is a way you can add some security to your retirement accounts.
Investing in gold and precious metals is one way that you can add some security to your investments. Owning physical gold gives your IRA added protection. Gold and precious metals also perform better during economic downturns and political crises, so if your other stocks are suffering, your gold investments should increase.
401k to Gold IRA Rollover Guide: How To Move 401k to Gold Without Penalty
A gold IRA is a special type of individual retirement account that allows you to invest in physical gold and other precious metals and hold it physically as part of your retirement savings. These accounts were first authorized by the IRS in 1977 and have steadily increased in popularity.
Gold IRAs are self-directed IRAs meaning that you control what investments are held in the account as opposed to someone else maintaining the account on your behalf. Establishing these accounts is fairly simple, especially if you work with a gold brokerage.
Gold IRAs are the name for any account where you hold gold, silver, palladium, or platinum as part of the investments. Most people stick to gold for their investments because the price fluctuations are not as drastic as those seen with the other precious metals. However, there is nothing wrong with diversification between multiple metals in your account.
A gold IRA can be started on its own, or you can roll over funds from your current IRA, 401k, or 403b to fund the account. As with any retirement account, you can contribute to the account on a regular basis.
When you establish a gold IRA, the next thing you will need to do is determine what types of gold you are going to invest in. You will have a choice of gold coins, bars, or bullion.
The IRS mandates that any gold or precious metals that you invest in with your IRA must meet purity standards. Coins must be pure gold and come from approved mints. Gold bars and gold bullion must be pure metal, and gold bars must come from an approved mint.
Some of the more common coins that are approved by the IRS for gold IRAs include:
• American Gold Eagle
• Australian Kangaroo
• Canadian Gold Maple Leaf
There are other types of gold coins that will meet the standards set by the IRS.
You can invest in newly minted gold coins or purchase older coins that are no longer in production. What is great about investing in gold coins is that many of these coins have an increased value because of the rarity of the coin.
Gold coins can also present you with an opportunity if you are looking for gold investments that you wish to hold in your own possession. Gold coins never drop in value because of their numismatic value.
Gold bars and bullion are available in different sizes. You can purchase as small as 1/10 of an ounce or as large as bricks. Most people start with the small bars because it is much easier to accumulate these over time.
If you are going to invest in bullion or bars that are part of your gold IRA, you will need to purchase purity levels that 99% or higher. These bars must come from approved mints and must be helped in a depository with other precious metal items that are part of your investment.
The IRS requires that you keep all gold and precious metals that are part of an IRA kept in an IRS-approved depository. If you are working with a reputable gold broker, they can make arrangements for you to have your gold shipped and stored at an IRS-approved depository.
There are depositories located all over the country. These depositories charge a yearly fee to store your gold. However, most of these depositories include an insurance policy on your gold as part of the store price.
Convert 401k to Precious Metals Like Gold and Silver - What to Know
We fully believe that a gold IRA is a necessity. Diversification of your investment portfolio is something that will protect you during market fluctuations and financial downturns. Gold and other precious metals have proven time and again to be a solid investment during difficult times.
As with any investment type, you should only allocate a portion of your IRA to gold and other precious metals. Most financial experts recommend that you only dedicate 10 percent of your portfolio to holding physical gold and precious metals.
Why only 10 percent? Because you never want to dedicate any portion of your portfolio to more than 10 percent. When you are purchasing stocks, bonds, ETFs, or futures, you will not dedicate 100 percent of your portfolio to a single stock; that is too risky.
So, to balance out your portfolio, you dedicate 10 percent to gold and precious metals so that you have a secure base for your retirement. Gold generally performs better during market downturns, and if your other stocks are dropping, you know you will have gold to rely on.
Who Sets The Price For Gold?
The base price for gold is set twice a day by the London Bullion Market Association. This group meets twice daily to determine the price of gold bars. These gold bars are made available to member banks for purchase.
Banks invest in gold to secure their deposits. The Central Banks of Russia and China have been aggressively purchasing gold bullion for the last few years to secure their assets. It is one of the driving factors of increasing gold prices and is expected to continue for the foreseeable future.
The London Bullion Market Association values bullion based on demand. If demand increases, so does the price. However, at the same time, gold is being traded on the markets, and this can also impact price.
Gold remains an in-demand product. Over 58 percent of all available gold is used for the creation of jewelry. Nearly 40 percent of all mined gold is used for high-end electronics because of its high conductivity rate. The remaining two percent is used for other reasons.
Since gold is traded as a commodity, the price can fluctuate dramatically on the market based on the demand for available gold on the market. As demand increases, the price will rise. You must remember, not all available gold is on the market because the central banks are storing bullion.
Since there is a limited amount of gold available for consumers to purchase, the price of gold significantly increases and is valued at the ounce weight. This is what drives the market and where you generate the most profit from your purchases.
In recent years the demand for gold has significantly increased because of its conductivity. Gold is the perfect metal to use in ultra-high-speed computer systems or in systems where multiple functions are occurring at once. Many of the supercomputers, military aircraft, and spacecraft have electronics made with gold wiring.
Gold continues to perform well during high and low points in the market. It is the one constant that you can rely on when it comes to your investments. Additionally, if you are investing in rare gold coins, you are also leveraging your investments with numismatic demand and values.
Little Known Benefits of a Self-Directed IRA
When you decide to invest in a self-directed gold IRA, most people think that they will have gold and precious metals invested along with their other standard stocks. What they do not realize is that many of these gold IRAs also allow you to add additional types of stocks to your account, not allowed in other types of IRAs.
With the right self-directed gold IRA, you have the ability to also invest in the following alternative investments:
• Cryptocurrency
• Real Estate
• Promissory Notes
• Water Rights
• Mineral Rights
• Oil and Gas
Gold IRAs allow you to focus on gold investments, but you can also find alternative investments to add to the mix.
IRA Diversification Is Necessary For A Secure Retirement Account
Investors of every level need to understand that diversification of your retirement account is the safest way to protect your investments in the event of a market crash. When you have a broad range of investments, including precious metals, you will have a safety net in place should one or more parts of your investment face hard times.
It is encouraged that investors devote around 10 percent of their retirement investments to precious metals. This will give them a very secure base should the market fluctuations cause their accounts to bounce around in value.
As for the rest of your accounts, diversifying them across stocks, bonds, and other investments will always provide you the most protection. If you are unsure how to diversify your account to get a good balance of investments, consult with a financial specialist.
Other Ways To Invest Into Gold
Many people who are ready to invest in gold ask themselves if they really want to invest in [physical gold in their IRA or if they want to take advantage of other ways you can invest in the precious metals market.
Some of the other ways that you can invest in gold include:
• Investing Into Gold Mining Companies You can buy stock in gold mining companies as part of your investment portfolio. These companies are often multi-national companies that have mines in every area of the world. The values of these stocks are based on the performance of the companies, not necessarily the value of gold. As with any company investment, there is always a risk when you buy shares in a company.
• Gold ETFs
Exchange-Traded Funds are available for the gold market. This can be a higher risk investment because you are buying into shares of physical gold that may or may not really exist. Many ETFs invest in futures which means that there may not be any physical gold to back up the investment in the time of a market drop. This can lead to large losses if you have a lot invested in this market.
There are other areas of the stock market that also deals with gold transactions, but none of these investments actually hold physical gold, but rather gold-backed transactions. All of these investments need to be approached carefully due to the volatility of the markets.
Before You Start Investing In A Gold IRA
The last thing that you should consider before investing in a gold IRA is that while gold is considered by most a safe and stable investment, like with stocks, it is not guaranteed to increase in price.
Your gold investments may have small fluctuations in them, but they should never be as drastic as come of the fluctuations you may experience with regular paper stocks.
Investing in gold probably will not make you ultra-wealthy, but it will give you financial security in a way that stocks never can.
Make sure that you work with a gold brokerage firm that provides you with the information you need to make informed choices about your gold purchases, has a good selection of investment gold available, and is easy to access for questions and concerns.
Top Four Gold IRA Companies Reviews
When you are ready to start investing in physical gold and start a gold IRA, you will want to work with an experienced gold company. Working with a company that can help you establish a gold IRA, offers IRS-compliant gold coins or bars, and has an established relationship with an IRS-approved depository are a few of the things you want from a company.
It has been our experience that the following four companies provide the best resources and products when investing in a gold IRA.
1. Augusta Precious Metals
5.0 Overall Rating
Augusta Precious Metals has been a leading gold brokerage for helping individuals establish gold IRAs for many years. What sets Augusta Precious Metals apart is that they strictly offer gold and silver coins for investment purposes.
Staff members at Augusta Precious Metals are certified coin appraisers and are members of several numismatic societies. They are the “go-to” company for finding values on precious metal coins.
With this distinction of being a coin appraiser in addition to a gold and silver brokerage firm, clients of Augusta Precious Metals can feel comfortable that they will have access to the best collector coins on the market.
Augusta works with three different gold IRA custodian companies so that their customers can select a representative that meets their own specific needs. They can also help their clients arrange for storage at the Delaware Depository, the largest depository in the United States.
In addition to selling premium gold and silver coins for IRA investments, Augusta Precious Metals also sells gold and silver coins directly to the public to hold as part of their own investments or collections.
Has continually ranked as one of the leading gold investing companies
Has several high-ranking awards for their services from companies like the Better Business Bureau
Works with three different gold IRA custodian companies
The companies that Augusta works with to manage gold IRAs require a minimum of $100,000 to start a self-directed gold IRA. This may be a little high for some investors.
Expert Conclusion:
Augusta Precious Metals has continually ranked as one of the leading companies for providing superior customer service for gold investing. The company also has several high-ranking awards for their services from companies like the Better Business Bureau.
2. Goldco
5.0 Overall Rating
Goldco will work with you to create a new self-directed gold IRA. You can then fund this IRA by rolling over money from your current IRA, 401k, or 403(b) plan. Through Goldco you can purchase gold coins, gold bars, silver, palladium, and platinum for your investments.
Goldco can help you establish your gold IRA with either Equity Institutional as the custodial management company for your IRA, or a self directed Ira. Equity Institutional is a leading provider of custodial services for gold IRAs and manages over $12 billion in assets. They're a large firm with extensive accounts they manage and over 40 years of experience in managing gold IRAs, and they service individuals or small businesses.
In addition to offering gold coins and bars as well as other precious metals for your gold IRA, Goldco also offers gold coin and bar purchases to individuals to hold outside of their IRA accounts. You can purchase any precious metal coins or bars and keep them in your personal possession if they are not attached to your IRA.
Will help you through every step of establishing a gold IRA
Provide superior educational materials for investors
Through Goldco, you can purchase gold coins, gold bars, silver, palladium, and platinum for your investments
Need a minimum of $25k-$50k in assets, retirements or savings accounts
Expert Conclusion:
Goldco is a precious metal brokerage firm that will help you through every step of establishing a gold IRA. They provide superior educational materials for investors to use so that they feel secure with the knowledge they have about investing in precious metals.
3. Birch Gold Group / BitIRA
5.0 Overall Rating
Birch Gold Group stresses the importance of understanding gold investments and has an incredible amount of resources available on their website to learn about investing in gold IRAs. Even if you do not use their service, their educational material is amazingly helpful.
Birch Gold Group continually ranks as one of the best gold brokerages for customer service support. Their superior customer support services are available to all of their customers from the time they are curious about investing as well as when they become seasoned investors.
Birch Gold Group can help you establish a new gold IRA as well as rollover money from your current IRA, 401k, or 503(b) to fund the purchase of the precious metal. Birch Gold Group works with two depositories in the U.S., where you can store your IRA gold purchases.
Birch Gold Group also offers gold and other precious metal coins and bars for sale to collectors who wish to hold their own valuables in their homes. Birch will ship these items directly to you as long as they are not part of your IRA.
Has been a leading gold brokerage firm for almost two decades
Focuses on selling gold coins and bars for gold IRAs or for personal collections
Stresses the importance of understanding gold investments and has an incredible amount of resources available on their website to learn about investing in gold IRAs
Precious metal IRAs do not pay out interest or dividends, so they are not for those looking to generate income from their investment.
To qualify for a gold home-storage IRA, you must meet strict requirements, including you must have a specific type of LLC, you must have a reputable financial background to manage the IRA, you must have detailed audits performed by a CPA annually, and more to ensure regulatory compliance with the IRS.
Expert Conclusion:
Birch Gold Group has been a leading gold brokerage firm for almost two decades. The company focuses on selling gold coins and bars for gold IRAs or for personal collections. Birch Gold Group also sells silver, palladium, and platinum coins and bars.
4. Regal Assets Wealth Partners
5.0 Overall Rating
Regal Assets acts as the management company for all of their gold IRAs. They have partnered with several depositories in the US for gold storage as well as one location in Singapore. Regal Assets established a depository in Singapore because of its status as the most financially stable country in the world.
Regal Assets sells gold coins and bullion as well as silver coins and bullion for investments in your gold IRA. They will also sell gold and silver coins and gold and silver bars for personal holdings.
Regal Assets offers its clients access to a lot of educational materials so that they can invest wisely in alternative markets. In addition to precious metals and cryptocurrency, Regal Assets can also arrange for investors to access Franck Muller watches, some of the rarest watches in the world.
Has been ranked as one of the leading investment firms for alternative IRAs in the US by Forbes
Not only a brokerage company but also an investment firm
Offers its clients access to a lot of educational materials so that they can invest wisely in alternative markets.
Cryptocurrencies are still considered high-risk investments, so experts recommend not investing any sum of money you can't afford to lose.
You also have to have a net worth of at least $250,000, as well as also meet other strict IRS requirements, to store your precious metals at your home. So in some cases, a custodial account may be your only option.
Expert Conclusion:
Regal Assets has been ranked as one of the leading investment firms for alternative IRAs in the US by Forbes. They are not only a brokerage company but are also an investment firm. Regal Assets not only offers gold and silver for investments into a gold IRA, but they also offer cryptocurrency investments for their clients.
Gold IRA FAQs
Are Gold IRAs Approved by the Government?
The government approved using precious metals in retirement accounts in 1977. The government set standards for these investments that include:
• Precious metals must meet 99 percent purity levels
• Coins and bars must come from approved mints
• Metals must be held in an IRS approved depository
• Yearly contributions cannot exceed yearly allowances
Is it Expensive to use a Depository?
The costs to store your gold will vary by the depository. We recommend going with a depository that also offers an insurance policy as part of the yearly storage fee. This offers you the best protection.
Am I Limited to Only Owning Gold in my Gold IRA?
Absolutely not. Your gold IRA is a self-directed IRA which means that you can invest in gold, approved precious metals, stocks, bonds, and some other alternative investments like oil and gas, cryptocurrency, and promissory notes if your management company allows these alternative investments.
Are There Penalties if I Roll Over My IRA to a Gold IRA?
No. You can rollover your IRA into a gold IRA just like any other investment account without penalty. You are simply changing the custodians of your account.
How Much Can I Contribute to My Gold IRA Annually?
As of 2021, you can contribute up to $5,000 annually to your IRA. If you are age 50 or above, you can contribute up to $6,500 per year as makeup investments.
When Can I Start Withdrawing From My Gold IRA?
As of 2021, you can begin to make withdrawals from your IRA at age 59 ½. For traditional Gold IRAs, you must begin taking withdrawals from your account at 70 ½. If you have a Roth Gold IRA, you can begin withdrawing precious metals after having the account for five years. Additionally, with a Roth IRA, you are not required to begin taking disbursements at age 70 ½.
What is the Minimum I Can Invest To Start a Gold IRA?
Depending on the company you set up your gold IRA with, you may be able to start an account with as little as $10,000.
How Long Does It Take to Set Up A Gold IRA?
In most cases, a new gold IRA can be set up and ready for investing in about 48 hours. It may take up to two weeks for rollovers to take place, depending on the company that is rolling over your account.
In-Depth Look at Our Two Favorite Gold IRA Investment Companies
Everyone wants to have a secure retirement. That is why you make an effort to create investments to protect yourself in your golden years. However, market fluctuations, global crises, and political turmoil can have negative impacts on your investment accounts.
This is enough to give anyone a headache. You are doing your best to provide for yourself in the future. Is it really too much to ask for some stability in the investments you make?
The answer is no. It is not too much to ask. That is why seasoned investors turn to gold and other precious metals to add stability to their retirement accounts. Gold, especially in chaotic times, is a stable investment. It is a good choice to add to your investment portfolio.
We encourage you to learn as much as possible about investing in gold and other precious metals as well as the companies offering these services.
