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Frequently Asked Question (FAQ)

>> What is an IRA?

An IRA is an Individual Retirement Account that offers certain tax advantages. There are two basic IRAs:

– Traditional IRA: saves investors from paying taxes up front

– Roth IRA: allows investors to avoid taxes when money is taken out.

Typically, the contributions to a traditional IRA account are allowed to grow without taxes being assessed until funds are withdrawn from the account. With a traditional IRA, contributions are also tax deductible, which is an attractive feature. A bank, credit union, or savings and loan institution is usually the custodian of an IRA account.

>> What can I invest in an IRA?

Employer sponsored plans like 401Ks offer limited investment choices; however, IRA owners can choose their own investments. Investments in IRA accounts may include stocks, bonds, mutual funds, certificates of deposit, securities and mutual funds. Investing in precious metals is also a better way of diversifying a retirement portfolio.

>> Is it Difficult to Invest in a Precious Metals IRA?

It used to be difficult in the past. It takes some research to locate a trustee when setting up a gold or other metal IRA. This is because funds need to be transferred to a precious metals dealer and then the metals must be stored in a safe physical location. Traditional trustees such as banks and credit unions do not handle this type of investment.

To prevent all these hassles, we have listed down the top gold IRA companies who can do all these for you without charging additional fees.

>> What Precious Metals are Allowed?

IRS rules permit IRAs to own certain precious metals—gold, silver, platinum and palladium. To qualify, metals must meet prescribed fineness standards.

>> Who Has Physical Ownership of Metals in an IRA?

The IRA owner does not have physical ownership or access to precious metals, until he/she reaches 59½. By then, the metals are housed with a brokerage firm or custodian.

>> How Do I Find a Custodian to Handle a Precious Metals IRA?

There are a few firms that will handle these transactions. Generally, the investor is responsible for finding the metals dealer, and the trustee pays the dealer from money that the investor’s IRA balance. It is best to discuss these options with a qualified financial adviser.

>> What Fees are Involved with this Type of Investment?

Fees vary depending on the trustee. It is wise to choose those that charge with a flat annual fees. When your account grows big in future, you don’t have to pay more.

>> Can I Transfer or Rollover My Existing IRA to Precious Metals Backed IRA?

Yes, you can do in such way without penalties and taxes. Also, you can choose to rollover the entire existing IRA or only partial of it.