The gold IRA is a popular asset class for retirement investors because it provides a hedge against inflation. In order to use a gold IRA, you must find a reputable gold IRA company. Gold IRA companies can help you get started, and many offer services that can make the process easier. These providers can purchase physical gold for you, and they will also handle the rollover of funds to your new account.
Some gold IRA companies, such as Noble Investments, prefer to use industry jargon rather than high-pressure tactics to sell their products. Their customer service representatives will provide expert advice and help you set up your account. They will also have resources for you to learn more about investing in precious metals.
One of the most important steps in the gold IRA rollover process is transferring funds to your new custodian. When you do so, you will be removing the chance of any early withdrawal penalties. If you do not do so, you will be considered to have withdrawn your money and will pay taxes on the amount. You can either do an indirect transfer, which requires you to send your funds to a gold IRA company, or a direct rollover, which will transfer your money directly from your previous retirement account to your new one.
Direct IRA rollover is the most straightforward of the two options. However, it is also more expensive. This is because the IRS can charge you a penalty if you do not complete the rollover within 60 days of making the change. Plus, you will need to find an account administrator to help you.
An indirect rollover is a more complicated process. It involves sending your check to a gold IRA company and then forwarding your funds to the account holder within a 60-day period. After completing the rollover, you can then buy or sell the gold. A coin is easier to transport and you can get a better deal on the sale of coins than bars. On the other hand, you will have to pay the depository for storage. Also, the price you receive for your gold will be lower than the actual value.
When you choose a gold IRA company, it is essential that you are aware of the fees. Be sure that the provider will be open and honest about the fees that they charge. Whether you choose a company that charges a monthly fee, an annual fee, or a buyback fee, be sure that you are aware of these costs.
Augusta Precious Metals is one of the best gold IRA companies in the business. The company’s website offers videos and educational articles, and their customers can connect to subject matter experts via a live chat tool. Customers can also buy and sell silver, platinum, and palladium. At Augusta, customers have access to low-cost and efficient services.
Regal Assets is another great option. They can help you invest in physical gold and silver bullion, and their customer service representatives will help you determine your level of risk. Depending on the company, you may even get free storage for a year.