Due to current market conditions, market fluctuations, uncertainty regarding future forecasts, and recent drops of various retirement accounts’ values, it is no surprise that investors in precious metals are flocked to these investments to protect their retirement savings. Gold and other precious materials have been able to weather economic downturns much better than traditional stocks, or similar investments. Rollovers into precious metals are a great option for those with risky retirement accounts. However, it is something that all investors should think about carefully before making this investment. Before opening a gold IRA, it’s important to research and compare gold ira storage fees to ensure that you’re getting the best deal and maximizing your investment returns.
Many people choose to use a gold backed IRA as a backup measure to protect their investment assets. Although other investments could be adversely affected by inflation via the printing and circulation of paper currency, precious materials act as an inflation hedge. For one simple reason, one cannot create gold or other precious materials. Due to the limited supply of gold, it should always have at least a minimal value, regardless how the economy is doing. These self-directed IRAs also have a lower chance of being affected by market downturns.
It is easy to rollover your gold IRA. First, check with the current investment company if your Roth IRA allows for rollovers into precious-metal investments. To find out if the investment company is experienced in self-directed Roth IRAs, do some more research. The company you are currently using may not offer gold-backed IRAs. You should consider switching your investment portfolio over to a company more qualified and equipped to manage these types of investments. This is called a “transfer rollover” because the assets are being transferred into a new company. However, most of the work is done directly by the new firm by contacting old companies on behalf individual investors.
It is important to remember that a general rollover must usually be reported and disclosed the Internal Revenue Service. Transfer rollovers, however, can fly under radar. Transfer rollovers can be closed usually within 60 days, and are often very painless for the investor in terms both of time and difficulty.