Top Gold IRA Rollover Companies (Updated 2020)
|IRA Annual Fee
|Flat Fee $250
(First Year Free)
Here is a list of other Gold IRA Rollover Companies we have reviewed:
- Blanchard Gold
- Broad Financial
- Capital Gold Group
- Checkbook IRA LLC
- Fidelity Investments
- Goldco Direct
- Goldstar Trust Company
- Rosland Capital
- Patriot Gold Group
- Noble Gold
- American Hartford Gold Group
- Advantage Gold
- Oxford Gold Group
- Lear Capital
- Augusta Precious Metals
Why Choose a Gold IRA?
The Gold IRA account is designed for those looking forward to reaping a secured amount in their retirement years, with a primary advantage on being provided with tax breaks.
Instead of just leaning on Social Security, a special Gold retirement account can help provide for you for the rest of your retirement years. You can use the Gold IRA as part of your actual investment portfolio, as well as in addition to a 401(k). Choosing the type of IRA dependent on individual factors and mostly on your needs.
What are the types of IRA?
Traditional and Roth IRA
These two are quite the same, with the individual creating and controlling the make-up of the scheme. Financial institutions, banks, and “custodians” often hold the Traditional and Roth IRAs. The “custodians” are caretakers who offer advice on how to have good investments. They take charge of the account, keeping track of the investment, statements, tax records, and other important documents.
Both of these IRAs provide good tax breaks, with slight differences from the other. Traditional provide tax breaks from the gains and interest generated by the IRA account. However, you will be taxed if you withdraw money from the IRA. For the Roth IRA, since your investment money has already been taxed, you can withdraw money from the IRA account without being taxed.
SEP and Simple IRAs
Accounts set-up and made by the employer are the SEP and Simple IRAs. These accounts are created for employees, so they can prepare for their retirement through the contributions that they provide. SEP IRAs are adopted by business owners so they can provide retirement benefits for themselves (and their employees). Simple IRAs on the other hand are mainly employer-sponsored plans to help the employees set aside amounts and make investment for their retirement.
For Self-Directed IRA accounts, they’re pretty much the same like the other IRA options; such as they also allow tax breaks under certain conditions and that they are also handled by banks, financial institutions and “custodians”. However, for these Self-Directed IRAs, the individual can choose to invest his retirement plans in many other vehicles like real estate, private equity and stocks. Precious metals (like gold, silver, platinum and palladium) in which we’re going to discuss in detail, is also a form of Self-Directed IRA.
Gold IRA Rollover
Being able to direct and rollover your IRA account to precious metals has been around for some time, though most people are not familiar with this scheme as an option. Obviously, you’re not familiar with these terms too, unless someone tells you about it in detail or you happen to tell yourself one day that you wanted to know more about a Gold IRA Rollover.
This type of account generally works by simply asking and directing your “custodian” – to “rollover” certain amount in your other IRA account into Gold IRAs. All you need to do is write checks (to a precious metal custodian) as proof that you want to buy gold as an investment for your IRA.
What risks are involved when investing in Gold?
With any investment, there is always an element of risk and with gold, there are a few things you will need to be aware of first.
Investing in Physical Gold?
If you are investing directly into gold and precious metals like coins and bullion etc and taking possession yourself your gold could be stolen.
I always recommend to people taking possession of there own gold to keep it secure and to keep it to yourself, don’t go around telling people what you have locked up in your house.
What are the Market Risks?
As a long term investment gold can only become more valuable, as it’s a voluble material and demand for it rises.
With gold prices currently at an all-time high, there is always the chance that it could drop, if you are looking at gold and precious metals as a short term investment it could be a risk.
Questions You Need to Ask Gold IRA Companies?
It is always good to be prepared and have a little knowledge before you call a gold company, we have put together three important questions for you ask to help set up your Gold IRA.
1) Can you let me know about all the fees you charge?
Really you want to avoid Scaled Fees as the more you invest the more you will have to pay, we recommend you look for a company that gives you a Flat Fee as it will save you money.
2) Which types of Gold and Precious Metals are approved by the IRS?
It is important that you buy the right type of precious metal that can be legally invested into your IRA account, some types of gold like rare/collector gold coins cannot be used with a Gold IRA.
3) What type of storage do you offer?
The best storage you want is segregated storage, this means your precious metals will not be co-mingled with other peoples and will be secured in there own isolated space.
4) Do you offer a buyback program on my investment?
When investing you want to make sure the company you are buying from is happy to let you sell back to them at a fair market price.