Precious Metals IRAs: A Rundown
The best place to put your money given the economic uncertainties in America and abroad due to the pandemic might just be in precious metals IRAs. But what exactly are they and how do they work? The information in this guide will answer all of these questions and more so you can decide if investing in precious metals through an IRA makes sense for you.
Precious Metals IRA 101
An IRA is a retirement savings plan that provides several tax advantages. Investing in IRAs allows your money to compound over time and grows with tax savings until retirement age.
With precious metals IRAs, you can hold real, physical precious metals inside of an IRA account. Precious metals IRAs are linked to the prices of gold, silver, platinum, and palladium. These assets have a successful track record and thrive in uncertainties. With having a precious metal IRA you can rest assured that your retirement money will continue to grow so that you can enjoy your retirement in style.
Benefits of Precious Metals IRAs
Gold and silver will appreciate over time, but you won’t pay any taxes on these gains (at least not until you start withdrawing money from your account). Plus, your initial investment is fully tax-deductible. These are especially useful for investors looking to maximize their current contributions—the more money you sock away now, the bigger your tax savings. For setting up a precious metals IRA the minimum purchase amount needs to be $5,000.
Where Are They Stored?
They are to be stored in a safe and approved depository. The depository will store your assets in one or more secured vaults and will be responsible for their safety. The type of vault they use depends on what type of metals they hold.
Invest in Precious Metals IRA Today
If you are looking to set up your retirement fund, then we highly recommend opening up a precious metals IRA account with us. At Orion Metal Exchange we have helped investors to take care of their retirement savings for many years. We provide them with high-quality precious metals and exceptional customer service so that they can have the peace of mind they richly deserve. Our product portfolio includes gold, silver, platinum bullion bars, palladium bars as well as gold and silver IRA. Email us today at support@orionmetalexchange.com to inquire about our services!
