A Self-Directed Gold IRA – Here’s What You Should Know
The following article is created by Orion Metal Exchange for the benefit of our investors and perspective investors alike. We seek to provide relevant content concerning precious metals and the impact caused by economic and geopolitical trends that will most likely impact your financial future. If you are interested in learning about precious metal investing, call 1-800-559-0088, for a FREE investor kit.
Why choose a gold IRA?
Purchasing physical gold is a secure way to ensure your investment dollars are not encumbered in debt. When you own gold, no one is borrowing or loaning against your physical assets.
Paper assets such as stocks or bonds, generally offer a dividend or percentage return due to their inherent risk. The annual proceeds received from a bond or stock are due to the inherent risk associated with investments encumbered in debt. In finance, debt is associated with a higher level of risk.
A precious metal IRA account is a way to properly diversify your portfolio through a tax deferred program. Offering the ability to own and store physical precious metal in an IRS approved retirement storage account.
What is the added benefit of a gold IRA?
A gold IRA will offer all the same benefits as a paper investment retirement account. The same IRS rules and guidelines apply. The only difference is the precious metal investment held in the IRA is in physical form, not on paper. With a precious metal IRA, distributions can be received in physical gold as well as dollars.
How do I establish a gold IRA?
Simply contact Orion Metal Exchange. Our in-house and full-service IRA department can help you right over the phone. They can help you locate a custodian and depository that will best suit your personal needs. They will help you establish a precious metal retirement account within minutes. Then, our IRA department will contact your current retirement account custodian to request the transfer of your retirement account funds. Once your funds are transferred, you will be able to buy, sell, or exchange gold, silver, platinum, or palladium with a phone call. Our IRA department will then insure and ship the precious metals to your insured IRA depository account. A precious metal IRA account allows you the flexibility to buy, sell, and exchange precious metals within your retirement account as a non-taxable event. Unlike our competitor’s, Orion Metal Exchange offers access to every legitimate precious metal IRA custodian and depository option in the nation. Every IRA commercial depository we work with is insured by Lloyd’s of London for the value of the precious metal holdings.
Do the same tax rules apply in a gold IRA?
Orion Metal Exchange’s Gold IRA accounts fall under the same tax laws that other IRA accounts do. All contributions to a traditional gold IRA account can be taxed deferred and federal income taxes are only applicable if you choose to withdraw value from your account.
As is the case with all IRAs, you cannot withdraw any proceeds or precious metals from your IRA account until you reach 59.5 years of age. If you withdraw before that, you will be obligated to pay a 10% penalty due to early withdrawal.
Moreover, if you were born before 12/01/2022, you are required to make regular withdrawals after 72.5 years of age. If a withdrawal is made from a pre-tax IRA program, a tax consequence will apply. If a withdrawal is made from a post-tax retirement account, the withdrawal will be tax-free, as is the case in a Roth IRA account.
Who helps me locate the gold IRA custodian that will best suit my needs?
Orion Metal Exchange works with every IRS approved precious metal IRA custodian and depository in the nation. Annual costs will vary from one custodian to another, and we will help you locate a cost-effective custodian and depository program that best suits your needs.
FAQ: Your Key to Understanding!
What is a self-directed gold IRA?
A self-directed gold IRA is a retirement account that allows individuals to invest in physical gold and other precious metals. Unlike managed and discretionary IRAs, self-directed retirement accounts offer more flexibility and control over their investment choices, enabling account owners to make their own decisions and diversify their portfolios with tangible assets.
Is it better to buy gold or a gold IRA?
Buying physical gold provides ownership and actual possession, but a gold IRA offers tax advantages and retirement savings benefits while owning physical precious metals. A gold IRA may be preferable for those seeking long-term wealth preservation within a retirement account, while direct gold ownership suits those prioritizing physical possession.
Why diversify with a gold IRA?
Deciding to convert your IRA to gold hinges on your investment strategy, risk tolerance, and long-term financial goals. A gold IRA can offer potential protection against economic volatility and inflation. A properly diversified portfolio will include a percentage of physical precious metals to hedge against geo-economic uncertainty.
Considering a Self-Directed Gold IRA? Orion Metal Exchange can help you. Take the first step today. Call us at 1-800-559-0088. Our team is here to help you.
