Given the dire state of the economy at the present time and general nervousness of the stock market, it should come as no real surprise that investors all over the globe are looking for stable investment alternatives to the more traditional assets classes. These investors are quite rightly concerned that their current wealth portfolio is in very real danger of being devalued.
In times of economic uncertainty, including precious metals in an investment portfolio has been a tried and true method of maintaining some fiscal stability. Precious metals act as a hedge against the negative effects of inflation as a result of governments printing excessive amounts of money.
As always however, it’s important that any investor contemplating converting some of their funds into something like gold or silver knows the full facts and has considered all the options available before making the final decision to invest in these precious metals.
So what options are available for retirees or anyone else wanting to invest in precious metals?
And what are some of things they need to know?
Many retirees will go with the popular route of using some of the funds in their Individual Retirement Account to buy physical gold, or will simply rollover their IRA into a gold-backed IRA.
For example, if an investor has a Roth Individual Retirement Account, it’s highly advisable that they confirm with the current manager of that account whether or not they offer the option of rolling-over their investment into precious metals. If the management responds back with their unwillingness to offer such an option, then it may be time to call time on your relationship with them and move to an investment fund management company who does!
One thing to keep in mind though is that rollovers such as these usually need to be reported to the IRS. Transfer rollovers however, typically have the benefit of a bit more freedom from these reporting restrictions. These rollovers can in most cases be completed within two months are probably the best options for investors in terms of hassle. Even so, the IRS has very strict rules which outline how the entire rollover process should be performed, so unless you have professional expertise in this field, it’s highly recommended that you let a professional supervise this process for you. You could be up for severe penalties and related taxes if you don’t.
Finding A Gold IRA Specialist
Investors need to be extremely careful about handing over the responsibility of rolling over their existing IRA to a gold IRA backed by physical gold or other precious metal like silver, platinum or palladium. There are many potentially financially damaging pitfalls along the way so it’s vitally important you choose the right one to do the work for you.
Always do extensive research into any company before you do business with them. Read all the customer testimonials and industry reviews you can, and if possible, contact the companies themselves and ask the pertinent questions and see if they can answer you without hesitation.
By far the simplest and easiest way to sort out the good from the bad is to visit a reputable review website like http://thegoldirareviewer.com. The site is owned and managed by Reeves Jameson, a precious metals investor who has years of personal experience in dealing with precious metals investment companies and setting up IRAs. His website has extensive gold IRA reviews of all the top precious metal investment companies and is popular amongst retirees looking for a company they can trust to do their IRA rollover for them.