Gold IRA Rollover Options
There are a few options that may fall under the guise of a ‘gold IRA rollover’. In essence you are moving funds from an existing retirement account to a gold IRA.
If you are just looking this up, without any idea what it entails, there are a few ways to invest in gold, and in occasional cases, you may not even need to rollover or transfer funds. There are also a number of different sorts of gold investments you can opt for.
Some of the gold options available include exchange traded funds or ETFs, gold mutual funds, stocks, options and futures, and these are worth looking into in case your already existing plan allows this, for it would be rather simple to perform. The other gold investment available to you is physical gold coins and bars, and only way to do this is through a self-directed IRA.
If you currently have an IRA, that’s where to check first before starting a gold IRA rollover process. If you do not have this option, the process is very simple to set up. Typically the two most common ways to go about this are through an existing IRA or a 401k. These aren’t the only ways, though the process is similar with other plans you may have, such as a 403B.
Essentially, from IRA to IRA this would be a transfer of funds, and is really easy to set up. You’ll speak with your current custodian to learn what this entails, and find whom you select as your gold IRA custodian, and the transfer will go on between them, and it’s as simple as that, without an annual limit.
As far as an IRA rollover from a 401k, there are more considerations. You’ll need to be qualified for distribution. Then in this case you receive the funds and are responsible for depositing them in the new IRA account within 60 days to avoid penalties. You will keep your tax deferment status intact in this way as well.
You likely are aware of the distribution requirements, and if there is any uncertainty, be sure to speak with your 401k plan manager first to find out what is needed from their end, decide on where you want to invest in gold through an IRA, then begin the process to allow ample time to avoid penalties or taxes.
And of course speak with your financial consultant to assure you’ve covered everything, and from there you can move towards enjoying having investments in gold, whether you select a new IRA, an existing transfer or happen to have that existing option in your 401k.
With a self-directed IRA, you’ll not be limited to physical precious metals either, so that is another consideration, as certainly diversification is a factor you’d be wise to consider.
If this is something you’ve already decided on and are seeking companies that are experienced with the gold IRA rollover process, I do have one company I encourage you to consider as they do have experience with this along with other stand out aspects, as far as their retirement account department devoted to this type of situation, excellent services both with customer service and their capability to provide physical delivery in a very timely manner for those also considering that.
You can look further here where I describe some of my personal experience with this firm, and about the gold investment kit that is, for lack of better words, well worth it’s weight in gold, and of course it is free. It changed the way I view this commodity and has some helpful information related to why many opt for this commodity for their own investments.