Preserve Your Retirement Wealth With A Gold IRA

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Rescue Your Retirement Savings

By Rolling Over a Portion of Your Dollar-Thin 401(k) to a Rock Solid Gold IRA

It's Quicker And Easier Than It Sounds... Here's How

Why Even Do This?

Gold IRA Rollovers provide an opportunity to diversify your investment portfolio and protect a portion of your retirement savings from market swings.

The tax benefits associated with traditional gold investments are very attractive, as they allow you to defer taxes on gains until the funds are withdrawn. 

The "Do-It-Yourself" Steps To Rolling Over To A Self-Directed Gold IRA

STEP 1:  Select a Self-Directed IRA Trustee or Custodian

 Any financial institution approved by the IRS (for example banks and trust companies) may specialize in administering a gold or precious metals self-directed IRA. Custodians and trustees are one and the same.

Trustees enable folks to invest in alternative assets, in this case gold, silver or other precious metals.

Custodians and trustees are responsible for the independent management and disposition of an IRA's investment assets. They must maintain custody of those assets. 

(The IRS absolutely does not allow you to be the custodian of your self-directed IRA precious metals assets. That is, you can't keep your "IRA gold" at home.)

The trustee also keeps detailed records and processes all transactions that involve your "Gold IRA" assets.

STEP 2:  Open and Fund a New Gold IRA with Your Chosen Custodian

Once you've chosen your Custodian, open then fund your new precious metals IRA with them.

You can obviously fund your IRA from any source, but the focus of this tutorial is our personal experience rolling over portions of our 401(k) and 403(b) to fund the IRA.... tax-free. 

You'll need to instruct your 401(k) administrator to transfer funds to your new gold IRA.  The custodian will provide you with the specific forms and details to make sure the transfer is done properly.

And most importantly, the transfer should be a "direct rollover" from your 401(k) to the new IRA so that you don't trigger any taxes or penalties.

STEP 3:  Choose a Precious Metals Dealer

It's more than likely your chosen Custodian has relationships with a variety of dealers.  We don't recommend any particular dealer, but here's what to look for when shopping for one:

It's obviously important the dealer has both a good reputation and carries products from reputable mints.

Many dealers also offer “buy back” options:  very valuable if you ever want to liquidate your metals.

STEP 4:  Determine Which Precious Metals to Hold in Your IRA

The rollover process continues by directing your Custodian to send money to the dealer.

You'll need to specify which types of precious metals you want to invest in.

The IRS allows gold, silver, platinum and palladium to be held in an individual retirement account. As long as they they are in the form of IRS-approved coin or bar products, you'll be fine.

Just remember to select products that are easy to buy and sell, have low premiums over the "spot price", and are eligible for storage in an IRA-approved Depository. 

Before purchasing, research the product's purity, size, and brand (as dictated by the IRS!)... and also the dealer's markup. Confirm whether or not the firm offers insured shipping. Most do.

(As of 2023, you cannot hold rare or collectible coins in your new gold IRA.) 

STEP 5:  Choose a Depository

You’ve made your selections and you've purchased your investment metals. 

Your next step is to select a secure Storage Depository. You may select from several companies that are IRS-approved to hold gold IRA assets on your behalf.

Again, your Custodian should have working relationships with approved Depositories.

So, you now have a Custodian, a Dealer and a Depository. You can now complete the Gold IRA Rollover process with your gold and precious metals securely stored in a Depository.

Your Custodian will provide you with periodic statements of your holdings. Use this document to monitor your assets.

My wife and I have two gold IRAs:  one from my 401(k) and one from her 403(b).

But we went the "Done-For-You" rollover route.

The "Done-For-You" By Experts Rollover Options


Updates March 2023