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The process of rolling over your 401k tax free to a gold IRA is easy to do when working with professionals.
Gold And Silver 401(k) Rollover Guide
A gold IRA transfer is different from a rollover in that the funds involved are moved without the retirement account holder ever coming into contact with the funds. During a rollover, the money is paid out to the account holder for deposit into the new account.
Gold Rollover is where assets in one of your retirement accounts are rolled over to you and then into another account (commonly a gold account). When the rollover takes place, you will be able to invest in gold and other precious metals.
A gold or silver IRA rollover is simply the transferring, or “rolling over” of a 401(k) account from a former employer into a precious metals IRA account. There are several issues worth noting and exploring about this possible option:
It’s important to do your due diligence and research the top rated companies for a precious metals IRA, before making your final decision – you can read more in our review of the best companies and why we recommend Regal Assets.
Are you thinking of a better place to put your retirement savings? It is good decision to think of IRA (individual retirement account) that is very safe and without fear of lose its value. To be on the silver side you should consider of gold rollover.
Many people go to the internet to start looking for dealers that they can buy their gold from and want to use the recommended custodian on the dealer website. This is not a good idea. These websites tend to make backroom deals with these custodians and there are plenty of issues that pop up during the transfer process. Reliable custodians have lists of precious metal dealers that they work with regularly and would recommend.
401k to Gold IRA Rollover guide
This 401k to Gold IRA Rollover guide outlines the steps involved in rolling over your existing retirement funds to precious metals. Before beginning this process, you should check with your employer to confirm that this is an option. Next, you will need to locate a gold custodian and a gold dealer with a good reputation and the services you need. Finally, you will be ready to decide how much of your assets to roll over and which precious metals will constitute your gold IRA. With services like those offered by Regal Assets, preparing and executing a gold IRA rollover is simpler than ever before.
There are plenty of lower quality financial institutions and dealers out there. They lure you in with low upfront fees and then tack on a large variety of fees. There are other shady practices that you can find so make sure that you go for a well-known institution to store your gold IRA.
Rolling over your existing account can be a daunting task, but when done correctly, is very cost and tax effective. If you decide to work with Regal Assets (the company we can give our stamp of approval), here is the process:
PS. If you are looking for more information about gold IRA rollovers and a comprehensive step-by-step guide, we highly recommend you to fill out the form below to receive the free gold ira investment kit from Regal Assets as long as it’s available.
401(k) Custodian guide
Your custodian may be able to direct you to reputable dealers that offer the precious metals you want in the forms you seek. Ultimately, you should ensure that the metals you include in your gold IRA meet standards set by the IRS. Gold, platinum and palladium must be 0.995 percent pure or higher while silver must be 0.999 or higher. Coins are less stable in value compared to bullion because coin value partly depends on the collecting market. If you do include coins in your gold IRA, you can count on American Eagle bullion coins to meet IRS specifications.
A lot of things in life can be done quick, making an investment is not one of them. There will be a lot of times where you will want to cut corners to making things quicker. Don’t do it. A very small amount of corners won’t hurt you or your investments but you never know when a corner might cost you a large amount of money. If an offer looks good, consider it but research it.
One has the ability to borrow funds from his or her 401(k) account under many plans and under certain circumstances. These circumstances may include purchasing a home, education or medical expenses or economic hardship. These loans must generally be paid back within five years, and the interest that you pay on the loan goes right back into your account. It is important to note, however, that should one leave the company with a 401(k) loan outstanding, he or she will have a limited amount of time to repay the loan. If this does not occur, they may be liable for taxes on the funds, as well as early withdrawal penalties if under the age of 59 ½.
One of the best gold IRA Company to consider is Regal Assets; they are the right company that provides you with everything you need when it comes to investing in gold and silver. They have been in existence for long and well known in the United States.
Why you need this Gold & Silver IRA rollover Guide
Experts are still predicting another crash in the offing thus making a gold IRA plan increasingly attractive. Continued warnings regarding the recent bullish markets point towards an end in the offing and that investors should start seeking other vehicles, including precious metals including 401k and gold IRA rollovers. This is especially relevant to the people near retirement who would be devastated by a large drop in the value of their portfolio.
A key point in this 401k to Gold IRA Rollover guide is that you must find a custodian that you trust. To begin, you should carefully research custodians and the experiences that other investors have had with them. All custodians must meet IRS regulations regarding storage and handling of precious metals. As you look into storage fees, you should consider the fee system and account for whether those charges might change in the future according to your plans. Everything you need to perform a gold IRA rollover, including IRS paperwork and disclosures of any transfer fees, should be included.
The internet is full of a lot of scams, a lot of gold dealers you can find on the internet are scams. People’s websites can look very confusing. Even some of the legitimate websites have issues. Orders can easily go missing and there can be delays. Some people report receiving the wrong gold from online buyers who otherwise have okay reviews. It is always best to deal with a custodian not the dealer and to deal with them in person. A custodian is motivated to get the gold or else they will have nothing for you to pay storage fees on.
A lot of people look into a gold IRA then decide that they would be better off investing in a jewelry because they can store it themselves and there aren’t any fees. Jewelry often has imperfections and it doesn’t come in uniform amounts of gold. Gold coins and bullion has a much higher return on investment, especially when played right.
It is not uncommon for employees to use a gold IRA rollover to streamline the transfer of retirement funds from a retirement account at one employer to that at another. However, depending on restrictions at your present employer, you may or may not be able to perform a rollover of your retirement account there. With some employers, employees cannot rollover their retirement accounts to gold without first quitting their job. In certain cases, employees may only be able to roll over their retirement plan if they are older than 59 1/2 years old with an employer plan that allows in-service distributions. Also called an in-service withdrawal, this refers to the ability to roll over funds from an account at an employer for which one is still working. Many employers do not allow this. If your own employer does not, you should discuss your plan with them to find out if there is an alternative solution that works for both of you.