Why are Smart Retirees Choosing to Invest in a Gold IRA Rollover?
One word? Hedge. A hedge against economic uncertainty,
plus a tremendous opportunity for gain.
A hedge against inflation, against economic downturn, against portfolio volatility – and against struggling governments whose “solution” to skyrocketing national debt is to simply print more paper money which devalues your money.
For individuals who are planning their retirement, whether you are contemplating an IRA gold investment as a rainy day nest egg or a considerably larger long-term investment, rolling over a sensible portion of your retirement portfolio into a self-directed gold-backed IRA can give you an extra cushion of wealth protection and can boost your risk-adjusted returns. Keeping a reasonable amount of gold in a well-balanced retirement investment portfolio can potentially lessen your portfolio’s overall risk factors, helping to shield it against stock market crashes and other bear markets.
Gold has opened up as an investment vehicle to retirement investors, due to the introduction of a diversity of investment products, such as the Gold IRA, that investors can add to their retirement savings portfolio.
The variety of retirement investment plans that may contains precious metal products (such as gold, palladium, platinum, and silver) that are approved by the IRS means that you can use gold and other approved precious metals to create individual investment strategies perfectly tailored to your risk tolerances and financial goals.
We believe that having a self-directed IRA backed by IRS approved gold bullion, bars and coins as well as other precious metal products that the IRS approves of represents excellent diversification of your retirement portfolio and a major reason why you should seriously consider investing in gold as one of your retirement planning strategies.
Gold IRA Rollover Overview
What is an Individual Retirement Account?
An IRA, or individual retirement account, is the foundation on which many people’s retirement planning is built. This retirement-specific investment vehicle allows you to contribute a portion of your income on a tax-deferred basis every year. Your contribution allowance is up to $5,500-$6,500 yearly depending on factors such as your income, tax-filing status, and other considerations.
However, all contributions (whether initially tax deductible or not) can reap returns on a tax-deferred basis until retirement and withdrawal.
Withdrawing Money from Your IRA
1. You Can Do So at Any Time
Money can be withdrawn from an IRA at any time – however, if a withdrawal is taken prior to reaching age 59 ½, a 10% Federal penalty applies.
2. Indirect Rollovers
Indirect rollovers are a tax-free, penalty-free withdrawal if completed within 60 days. With this option, the money must move from 1 IRA custodian to another. You can make as many transfers as you want. With rollovers, “you” are going to receive the distributions from your current retirement account. You will then move that distribution into a different retirement plan custodial account. With this approach to retirement planning, you must have these funds placed in the new retirement plan custodial account within sixty days. You can only perform one of these rollovers once every twelve months. This applies to your self-directed gold IRA rollover, where your Goldco® Gold Silver IRA Specialist will be with you every step of the way.
Gold IRA Rollover Eligible Retirement Plans
If you see your plan below, you could qualify for a gold IRA rollover from your current plan. Click the tabs below to learn more about them.
Allows individual investors to contribute pre-tax income toward investments that can grow tax-deferred (no capital gains/dividend income is taxed). Allowed to contribute up to $5,500-$6,500 depending on taxpayer’s income, tax-filing status, and other factors. Contributions are tax-deductible. Money is taxed upon withdrawal. May withdraw money at any time – however, if you are not over 59 ½ years old, federal penalty will apply.
Allows individual investors to contribute post-tax income toward investments that grow on a tax-deferred basis. Allowed to contribute up to $5,500-$6,500 depending on taxpayer’s income, tax-filing status, and other factors. Contributions are NOT tax deductible. Since money is taxed before being contributed to Roth account, it does NOT get taxed upon withdrawal. Completely free withdrawal, as long as individual is over 59 ½ years old. If money is withdrawn before they reach age 59 ½ years old and the ROTH account is less than 5 years vested, federal penalty applies.
Simplified Employee Pension
A retirement plan that an employer or self-employed individual can establish for themselves and their employees. Contributions are tax deductible – very similar in nature to Traditional IRA. Individual must be the owner of the business/President/CEO/self-employed in order to establish a SEP IRA. SEP IRA’s can be transferred/rolled over into a Traditional IRA or a new SEP IRA. In a SEP IRA you are allowed to contribute up to 25% of your income, up to $55,000 per year.
Savings Incentive Match Plan for Employees of Small Employers
A retirement plan that may be established by employers/self employed individual. Contributions are tax-deductible. These accounts can only be transferred to Traditional IRA’s or SIMPLE IRA’s after they have been established for at least 2 years. If the account is less than 2 years old it may not be moved.
Employer-sponsored retirement plan for a “for profit” company. 401(k)s are the most common kind of defined contribution retirement plan. These plans can generally only be rolled over if the individual is over 59 ½ years old or separated from service (no longer working for employer).
Similar to a private sector “for-profit” company 401(k), this is an employer-sponsored retirement plan for “non-profit” companies. Generally can only be rolled over if the individual is over 59 ½ years old or separated from service (no longer working for employer)
If you’re an employee of a city, county, township, park board, water district or similar entity, your employer may offer a tax-exempt savings benefit known as a government 457(b) deferred compensation plan. This retirement plan allows employees to make pre-tax salary deferrals. An advantage of the 457(b) plan is that it is not subject to the IRS age 59 ½ rule and there is no 10% penalty for withdrawing your funds before that age, although the withdrawal is subject to ordinary income taxation.
Tax Sheltered Annuity
Commonly found in many 403b plans, tax sheltered annuities allow an employee to make contributions from his or her income into a retirement plan. The contributions are deducted from the employee’s income and, as a result, the contributions and related benefits are not taxed until the employee withdraws them from the plan. Because the employer can also make direct contributions to the plan, the employee gains the benefit of having additional tax-free funds accruing.
Thrift Savings Plan
Retirement plan for Federal government employees. Employee’s are either “civilian” or “uniformed.” Must be either 59 ½ years old and/or separated from service from Federal Government in order to rollover funds. TSP has their own set of forms to be used for any rollovers.