How Precious Metal Assets IRA Can Help You Retire Faster
What is a Precious Metal IRA?
A precious metal IRA is a type of self-directed individual retirement account that focuses on precious metals. Self-directed IRAs offer you the freedom to invest in a wide range of unique assets, such as real estate, precious metals, and even crypto-currencies nowadays. These go beyond the standard IRA alternatives, but they have similar characteristics outside of that, such as the same contribution limitations.
How can IRAs Help You Retire Faster?
There are significant and well-documented advantages to including gold or other IRA-approved precious metals in your retirement plans.
Diversification
By diversifying a retirement portfolio, investors can protect their money from market fluctuations. Gold IRAs are one approach to diversify a retirement portfolio that would otherwise be overly reliant on typical paper assets. Other precious metals like silver, platinum, and palladium are also good options. These precious metals are a good fit for a retirement portfolio since they’re part of a long-term, well-balanced investing strategy.
Stability
Gold serves as a measure of stability when compared to other assets. Many investors feel that gold has an inexhaustible value. Humans have always prized and sought gold throughout the history of civilization. Keeping gold, or silver, as a part of your retirement portfolio gives your savings a sense of solidity and permanence.
Balance
Gold has historically performed well during times of economic or political crisis. The value of gold tends to be inversely proportional to the value of paper assets. Gold performs better when standard assets are failing. Similarly, when the market is thriving, the value of gold suffers. This equilibrium, paired with gold’s stable value, ensures that a retirement portfolio is well-balanced.
Tax Benefits
Contributions to ordinary self-directed IRAs are tax-deductible, and precious metal IRAs give some unique tax benefits as normal IRAs. In addition, eligible Roth account withdrawals are tax-free.
The above listed are some ways precious metal IRAs can help you retire faster. If you’re looking to invest in gold, silver, platinum, or palladium, Orion Metal Exchange in Los Angeles should be your go-to choice for purchasing these pure metals. Not only do we offer these pure gold and silver coins and bullions, but we also offer IRA services for gold and silver as well. Contact us now to learn more.
