A Gold IRA company will guide you in opening your self-directed IRA account. Some, but not all, allow you to open an account online. This has, of course, prompted many investors to search for gold investment companies with the best deals for investing in gold. A self-managed IRA offers the same tax benefits as a traditional IRA, but allows you to hold precious metals and other alternative assets in accordance with IRS regulations.
Others say they don’t, but be aware that the price they pay you when they buy back gold is likely lower than the price they set for gold they’re selling. A gold IRA company will help you set up your account and sell you the gold (or silver) coins or bars that fund it. Gold is a source of steady and stable growth compared to the more volatile stock market, which is why more and more retirement investors are turning to gold IRAs. A gold IRA is a specialized, self-managed individual retirement account designed to store precious metals.
Augusta Precious Metals is now known as a Gold IRA provider with extensive experience and dedicated service to customers. We’ve researched 18 reputable companies that offer Gold IRA services and searched them for the highest consumer ratings from the Business Consumer Alliance (BCA). Many people who open gold IRAs use funds from another IRA to do so, but it’s not a good idea to convert your entire nest egg into a gold IRA. Your chosen Gold IRA company will help you get started by reaching out to your plan administrator with a request to transfer funds to your new Gold IRA.
Most gold IRA companies recommend or require that you work with a specific custodian and custodian, although some give you a choice of two or more. When choosing a Gold IRA company, it’s important to find one that has a long history of good customer service and offers competitive rates and fees. Surprisingly, a gold IRA doesn’t just have to hold gold, you don’t have to hold any gold in one at all. Experienced investors generally agree that your gold IRA should account for between 5 and 10% of your total IRA portfolio.