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GOLD/SILVER IRAs
Investopedia/Mary Hall
“Have you thought about rolling your traditional IRAs from one financial institution to another? Maybe you’re looking for higher returns, more investment selections or better service. If you roll over your traditional IRA, there are some common mistakes you should avoid. ‘IRA rules can be tricky and some have even changed over the years, so you need to be careful, otherwise you could pay income tax and penalties,’ says Dan Stewart, CFA, president, Revere Asset Management, Inc., in Dallas, Texas. In this article, we’ll give you an overview of IRA rollover rules and discuss how to avoid breaking them.”
USAGOLD note 1: We have a steady stream of new clients who come to us for help with rollovers from existing retirement plans into gold and silver inclusive IRAs. The rules can be confusing and somewhat cumbersome, but they are not difficult to manage. The link above will guide you through the most common, out-of-the-gate stumbling blocks.
USAGOLD note 2: Beyond the mistakes investors make with the mechanics, we continue to receive inquiries from investors who have included graded modern gold and silver bullion coins, modern proof gold and silver coins and modern commemorative coins in their plans at hefty premiums wanting to know if we can help them with what turned out to be a bad situation. At about the time that these investors receive their first evaluation from a trust company, they discover too late that they paid far more for their gold and/or silver than they should have. Don’t let that happen to you. For the best results, we continue to strongly advise IRA investors to stick with the ungraded, ordinary gold and silver bullion coins (pictured above) that sell at standard market prices. You will be glad that you did.
We are happy to help with your questions and get you started on the right track.
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