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Important Questions to Ask Yourself Before You Open a Precious Metals IRA

gold coins

You’ve been told time and again that precious metals are a great risk diversifier. They are an inflation-proof means to save money for retirement. There are chances you’re not the right investor for a precious metals IRA. Before you’re simply lured into the heard profitability of the asset class, ask these questions to gauge if the investment channel is worth your time.

What Kind of Assets Do You Want to Invest In?

Tyler Gallagher wants you to assess the risks of precious metals investment and decide whether you want to own physical precious metals or paper-backed assets. Some risks associated with physical bullion include:

Liquidity Risks: You will have a hard time selling and purchasing physical gold in the international market because they aren’t legal to trade in the physical form everywhere.

Storage Risks: You will have to find a third-party storage company or private vault storage to deposit your physical bullion.

This is not exactly how you need to store gold ETFs. Some investors find ETFs to be more secure than physical bullion. They can’t be exchanged and do not grant any ownership of the precious metal.

If you’re one of those investors that want physical forms of precious metal to invest in, a precious metal IRA account is suitable for you. Connect with us to find reliable vault storage companies to deposit your precious metals.

How Do You Plan on Storing Your Precious Metals?

This concern is not from a safety point of view only; for tax-advantaged accounts, you need to meet certain IRS guidelines. As per IRS guidelines, you can’t store your precious metals at home. You need to look for IRS-approved gold and silver storage accounts to avoid any taxation triggers. We can help you with it!

gold and silver bars

Which Precious Metal Do You Want to Invest In?

Before you approach a financial advisor about investing in precious metals, do your research. Estimate how distant is your retirement plan and gauge the amount of money you need post-retirement. These steps will help you choose the right precious metal.

Rule of Thumb: Gold for currency hedging, silver for capital appreciation.

Orion Metal Exchange is The Right Option for You!

From assisting our clients in purchasing precious metal products to opening their IRAs, we’re there at each step of our clients’ precious metal investment journey. To open your precious metal IRA, call us at 1-800-559-0088.

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