Can You Hold Gold in Your IRA?
Gold is often called “a safe haven for investors.” Whether the stock market’s crashing or the economy’s collapsing, your gold investment is never really affected. Gold also holds a historical storage value and it has been a coveted metal for centuries.
These reasons successfully persuade more & more people to choose gold as an investment. But did you that you can also hold this precious metal in your IRA account?
In today’s blog,we’ll discuss how that’s possible and all the factors governing it. Investing gold in your IRA gives you an enormous protection against volatile market conditions and inflation.
Continue reading to know how and why you should think about putting in some golden effort in your retirement investments.
Why You Should Hold Gold in Your IRA?
Now that you know that you can hold gold in your IRA, here’re some major benefits of doing so:
- It protects you from the declining value of the dollar.
- As inflation soars, gold holds its inherent value and isn’t affected.
- It will always act as a hedge against inflation and offer protection against deflation.
- It diversifies your portfolio; putting all your eggs in one basket isn’t recommended.
- You don’t have to learn any expert knowledge to buy & sell gold.
- Gold has low carrying & maintenance costs.
- Like traditional IRAs, a gold IRA also offers tax benefits.
- A gold IRA provides you full control over your account. You can choose anything from IRA-approved precious metals as a contribution.
The Growing Trend of Gold IRAs
The gold bullion was approved as an IRA investment in 1998. Since then, it has been the center of attention for IRA investors. A recent survey report said that 12% of Americans hold gold in their IRA accounts.
The current trend in the US shows that people have become more risk-averse than presumed, and have started investing in gold IRAs to safeguard their financial stability.
Gold and other precious metals are getting special attention in the current state of the economy. Investors tend to gravitate toward gold to diversify their portfolios and reduce risks.
Gold funds generated $2.8 bn in March 2020, which was pushed to $6 bn in the next quarter. Therefore, it’s an equally great choice to open a self-directed gold IRA account.
Associated Costs
Mentioned below are some special but minimal costs attached to holding gold in your IRA:
- The seller’s markup
- Custodian’s fee
- Account setup, gold storage, and cash-out fees.
Contact Orion Metal Exchange as the Custodian for Your Gold IRA
If you intend to buy gold or silver bullions or invest in a gold IRA, you’ve come to the right place. We also help keep your precious metal investments safe with our secure private vault storage rentals.
Reach out to us to learn more
