A key selling point for gold IRAs is that you own the physical gold yourself. If that doesn’t matter to you, there are other ways to add exposure to precious metals to your retirement portfolio, such as buying stocks in gold mining companies. We’ve researched 18 reputable companies that offer Gold IRA services and searched them for the highest consumer ratings from the Business Consumer Alliance (BCA). Because of Noble Gold’s extensive network of partners and suppliers, customers receive competitive prices for gold purchases.
Unfortunately, most Gold IRA companies don’t have a good record of fee transparency on their websites, so finding out the details may require a phone call or two. In practical terms, this means that the minimum account accounts with many gold IRA companies would require to invest much more than the 5% or less that financial advisors generally recommend investing in precious metals, which could put your nest egg at too high risk. Or, if you have a traditional retirement savings account and want to increase your exposure to gold, read here how you can buy a gold ETF, an exchange-traded fund that tracks the performance of gold. One important rule to know about storing physical gold in an IRA is that your precious metals MUST be stored at an approved depository institution such as the Delaware Depository Service Company or Brink’s Global Services, not in your home or in a safe.
With an education team, a dedicated agent, and a library of video resources, the company is doing everything it can to help its customers understand the steps to open a Gold IRA. They sell gold coins, gold bars, and the like, but they don’t offer IRA investment advice (regardless of what their websites or other marketing materials might suggest). Once you reach 72 years of age, you’ll be required to accept the required minimum distributions (RMDs) from a traditional gold IRA (but not from a Roth IRA). Gold IRA companies can vary widely, and choosing the best company for your investment goals is critical if you want to ensure a comfortable and hassle-free retirement.
It would be less of a problem and perhaps more desirable if their gold IRA was just part of their overall retirement portfolio. A good Gold IRA representative will help you figure out how much you should think about investing and which metals will serve you best. Gold IRAs can contain all 4 precious metals that the IRS allows for gold, silver, platinum, and palladium. Annual fees are generally charged by the account custodian, and storage and insurance fees are more often owed to the custody account than to the Gold IRA company.
A first-class IRA Gold company only works with carefully vetted, reputable external storage companies or secured depositories. Self-directed IRAs can be either traditional IRAs or Roth IRAs, and the difference is how you want to tax your money.
