A self-directed IRA allows you to invest in non-traditional assets such as real estate and precious metals. Since gold and silver are the most reliable store of value, you can benefit significantly from investing in these.

The freedom to choose an investment to your liking also gives you more autonomy over your retirement plans. You can put your expertise to work and select an asset to protect your hard-earned savings.

Here’s all you need to know about diversifying your self-directed IRA by investing in gold:

History of IRA investing and precious metal

The Internal Revenue Service allows self-directed IRA and 401(k) to invest in specific types of gold coins and bullions. Before the Tax Relief Act was introduced, physical gold was considered collectibles, and people weren’t allowed to invest in the precious metal as part of their retirement plan. However, after the act was put in motion, Roth IRAs were formed, allowing people to invest in gold and silver.

Working with an IRA custodian Vs. the checkbook control advantage

While researching about precious metal investments through IRA accounts, you’ll come across many specialized self-directed IRA custodians.

While these custodians take the responsibility of storing your gold and silver at a registered depository, their services can be quite complicated for retirement investors. You may have to pay a transaction fee for any investment that you’d want to make and provide storage charges.

Conversely, the checkbook control advantage allows you to have direct control over your IRA finances. If you find an investment that you’d like to make, you can deal directly with your liking’s metal dealer without paying any additional fees.

The ability to make direct transactions also eliminates the 2–5 days of the waiting period that most self-directed custodians take, allowing you to make transactions directly.

Ownership and storage

While the checkbook IRA allows you to save additional storage and transaction charges, it comes with its limitations; you can only invest in the US minted gold, silver, platinum, and palladium Eagle coins.

Being the sole owner of the self-directed IRA, it’s also your responsibility to keep the IRA precious metals in a safe and document storage vault. If you’re looking for secure private vault storage rentals, reach out to us at Orion Metal Exchange.

We are one of the best IRA companies and offer the US minted gold and silver coins at fantastic rates online. So diversify your IRA portfolio by investing in precious metals.