Gold, silver, and other precious metals are unique assets due to their reliable value. While the price of gold is still subject to some fluctuation, it has a long history of maintaining value rather than depreciating. Paper currencies and stocks are subject to plummet without help, whereas gold will never become worthless.
Not only is gold a limited resource, but it also has uses in technology, medicine, and culture across time. Many people trust owning precious metals as a physical entity to protect themselves against inflation and to diversify their portfolios.
After you purchase a quantity of gold in the form of common bullion, bars, or approved coins these items can stay protected in a storage facility while they appreciate and provide your IRA account with even more value.
It is wise to be aware of the additional costs that are likely attached to a service such as these gold IRA companies. While many might say that the security of owning precious metals outweighs the extra fees, it is best to be aware of every cost.
Since you are working with a third party to set up your gold IRA, you may encounter fees to launch your account ($50-$100), annual maintenance fees ($75-$300), seller fees in addition to the market price ($40), insurance fees ($100-$300), and storage fees (proportional to the gold you own).
Types of Gold IRAs Offered
Gold IRAs work much the same way as traditional retirement savings accounts do. After forming a gold IRA, you must wait until you pass age 59 ½ to withdraw assets without incurring a 10% penalty plus taxes. Roth IRAs also function similarly when self-directed to enable customers to invest money after taxes and therefore avoid paying taxes on distributed assets.
Additionally, owners of a traditional gold IRA are still expected to withdraw a minimum yearly amount once they pass the age of 70 ½.
Each of these companies are highly accredited and all have received thousands of positive reviews. While you can’t go wrong with any of these options, looking for elements where they go the extra mile can make this experience even easier for you. Here is what makes these companies stand out as the best:
Noble Gold is the top choice if you are looking for a company that wants to prepare you for the hardest times to come, making sure you have everything you need to stay in control.
Goldco brings its impressive reputation to work for each customer. You can rest assured that you are in good company with many satisfied customers in their hands.
Augusta Precious Metals is the right choice if you want to know all the details about your investment: before, during, and after the sale.
Birch Gold puts their business know-how to work for you. With them, you can be certain you are getting the smartest advice.
American Hartford shows they care about you. If customer service is important to you, you can know that you will be an important customer to them.