Choose Physical Gold to Protect Your Retirement Savings
When you first began investing for retirement, you may have thought that traditional assets, such as stocks, mutual funds and bonds, would provide you with sufficient security and reliability. However, you may also have quickly found out that such assets can succumb to economic factors, such as inflation and recessions.
You want to avoid devastating losses in your investment portfolio and know how much wealth you are building for retirement. Rather than invest in paper assets like stocks and bonds, you can protect your savings when you invest in gold.
Gold provides you with a tangible asset that offers universal value. It is a solid form of global currency and historically retains its value better than paper assets, such as bonds and mutual funds. For centuries, investors throughout the world have relied on gold to protect their retirement savings.
When you are ready to add gold to your portfolio, you can get started by reaching out to us at Sedona Bullion. Our mission is to educate serious investors like you about the advantages of diversifying your investment portfolio with gold. We offer gold in IRS-approved forms like coins and bars for your convenience.
Reasons to Invest in Physical Gold for Your IRA
Gold remains one of your most appealing investment choices for several key reasons. To start, it has a centuries’ old reputation for value and reliability. For thousands of years, investors across the globe have relied on gold to provide them with a high level of financial security and predictability.
Further, gold typically survives economic downturns far better than paper assets. When the economy devolves into a recession, for example, you avoid the worry of whether or not your gold investments will lose value. Because gold is not tied to any single economy, industry or government, it can withstand economic factors that devastate other types of investments like stocks and bonds.
Finally, gold provides you with an actual physical asset that you can store and safeguard for your future financial needs. When you invest in actual physical gold, you have the reasonable assurance of being able to rely on it when you retire. While past performance of gold’s value does not necessarily guarantee future results, you can look historically at how well gold has retained its value throughout the last few decades and have confidence in your gold investment retaining as much as, if not more than, the price at which you purchased it.
The Process of Converting Your IRA to Physical Gold
The actual process of converting your current individual retirement account to physical gold is relatively straightforward. At Sedona Bullion, we can advise you on how to start and complete this process as quickly and easily as possible. Follow these tips to convert your IRA to physical gold today.
Step 1: Choose a Reputable Gold IRA Company
The first step in the process of converting your IRA to gold involves selecting a gold IRA company. You want to select one that has a good reputation for providing top-notch customer service. You also want one with a proven track record of trustworthiness, price transparency and versatility.
At Sedona Bullion, we maintain an A+ rating from the Better Business Bureau. We also are proud to receive a five-star rating from our customers.
Step 2: Open a Self-directed IRA
Your next step involves opening a self-directed gold IRA with an IRS-approved custodian. We at Sedona Bullion can provide you with referrals to custodians who satisfy IRS regulations.
Your custodian will guide you through the application process of opening this type of IRA and also obtain proof of your identity. The custodian will also retain any documentation for it.
When you open your self-directed IRA, it is important that you let your custodian know that you intend to fund it with gold. Your custodian can ensure you comply with the IRS rules for adding gold to this type of account.
Step 3: Fund Your New Self-directed Gold IRA
After you open your new self-directed gold IRA, you can then fund it using either cash or transfers from existing accounts you have. Many people prefer to roll over funds from existing retirement savings accounts.
You can transfer funds from accounts like your 401(k) that you may have at work. You may also transfer funds from a Roth IRA, simple IRA, traditional IRA or TSP account.
You can also use cash to fund your self-directed gold IRA. You should learn how much you can contribute to it and how long fund transfers take to complete. Some transfers from existing accounts like Roth IRAs can take up to three weeks.
Step 4: Purchase Your Gold
After you fund your new self-directed IRA, you can go ahead and purchase the gold you want for it. In reality, you will give approval for your IRA’s custodian to purchase the gold on your behalf.
You cannot actually buy the gold yourself, according to IRS regulations. However, you can select from where you would like to have the gold purchased and in what quantity and request your custodian abide by those preferences.
You can also select in what form you would like to purchase the gold for your self-directed IRA. At Sedona Bullion, we offer gold in forms like coins and bars. All of the gold we make available meets IRS regulations, such as being at least 99.5 percent pure.
Securely Store Your Gold
Along with purchasing gold for your self-directed IRA, you also must choose where to have it stored. The IRS does not allow you to store it yourself, even if you keep it in a safe deposit box at the bank. You must contract with a depository at which to keep your gold.
You can ask your custodian to refer you to a depository that satisfies IRS regulations. You can also select one yourself if you prefer. You can find customer reviews and Better Business Bureau ratings for depositories online.
You want to choose a depository that has a reputation for trustworthiness and security. You also want to choose one that offers a reasonable amount of insurance in case you need to recover the loss of any gold you have stored there.
Once you select the depository that you want to contract with, your custodian will send the gold you purchase from Sedona Bullion to it. The depository will safeguard your gold purchases for you until you decide to add more to your account or sell the gold you currently own. Your gold will also be stored under the account name for your self-directed IRA.
Grow Your Retirement Savings with Gold
Finally, once you are confident of your gold being stored safely at the depository of your choosing, you can then monitor your self-directed IRA and grow your retirement savings with gold. As with any investment, you want to monitor it regularly to ensure it is growing in line with your retirement saving goals.
You can also leverage costs of your self-directed IRA by contributing to it regularly. Your custodian can advise you on how much you can contribute without incurring IRS penalties, if you do not already have this information.
You can also watch market trends to decide if and when to add gold to your self-directed IRA. Gold typically performs well even when other assets like stocks and bonds lose value. Still, you should monitor the market trends to decide if you should add more to your self-directed IRA to build up your savings or meet your retirement monetary goals.
When you are ready to take distributions from your self-directed IRA, you can also ask your custodian how much you can take without incurring IRS penalties. Gold can provide you with a steady and secure way to add to your retirement income without having to rely on paper assets like mutual funds or bonds.
Trust Sedona Bullion for Gold IRA Guidance
At Sedona Bullion, we know the time and consideration you put into deciding if and when to convert your retirement savings to gold. We want you to enjoy the peace of mind and stability that can come from adding gold to your portfolio. We prioritize offering the highest level of customer service and the transparency of information you need to make the soundest financial decisions when investing in gold.
We also offer customized services for all of our customers. Our experienced team tailors the gold investment experience to your specific needs and preferences.
We can advise you on investing in popular forms of gold, such as coins and bars, to help you grow your retirement wealth. Reach out to us at Sedona Bullion to learn more about converting your retirement savings into a gold IRA today.
