IRAs are subject to federal laws and restrictions that govern their investments in precious metals. Fidelity Investments is one of the largest investment firms in the United States. They offer a wide variety of investment products, including a gold-backed IRA. So how does a Fidelity Goldback IRA work?
Yes, Fidelity customers can buy certain precious metals in an IRA. Fidelity offers a custodial service for Gold IRA accounts. This is a type of IRA that allows investors to hold and invest in gold and other precious metals. The Gold IRA that you open with Fidelity is not self-directed as they don’t offer such retirement accounts. The fact that it takes a long time to find out whether Fidelity even offers a Gold IRA should let you know their priorities.
In this overview of Fidelity’s gold IRAs, we’ll discuss everything you need to know about the giant financial services firm’s IRA options for precious metals. If you’re interested in Gold IRA for investment purposes, Fidelity Gold IRA may be a good option. For those looking to add gold to their retirement portfolio, a Fidelity Gold-Backed IRA can be a great option. Fidelity offers a Gold IRA that controls itself, giving you the flexibility to choose the types of investments you want to keep in your account.
The Gold IRA you open with Fidelity is going to be different than any other Gold IRA you’ve come across, and that’s not necessarily a good thing. A Fidelity Gold IRA may look good on paper, but what you actually get is a much lower quality product due to its brand strength. Once your account is opened, you can contact a Fidelity representative to discuss investing in a gold-backed IRA. There is a lot of confusion when it comes to Fidelity Gold IRAs, which we now believe are primarily due to the structure of the Gold IRA.
A Fidelity Gold IRA works just like a traditional IRA, but instead of holding paper assets, it allows you to hold physical gold bars. All of these factors come into play in deciding whether or not a Fidelity Gold-Backed IRA is right for you. Presumably, just as he’s designing countless plans, Fidelity has developed a proprietary version of a Gold IRA that is the best fit for the company.
