What is Palladium?
Palladium is arguably the least known of all of the precious metals available to investors today. The top producers of palladium include countries like Russia, the U.S. and Canada. It is also mined in countries like Zimbabwe and South Africa.
As a precious metal, it has numerous industrial uses. For example, manufacturers use it in the production of automotive parts, such as spark plugs. It is also a common element used in the making of dental and medical products, as well as watches, electrical contacts and surgical instruments.
Because of its relative obscurity and rareness, palladium remains one of the most highly prized precious metals among investors. The demand for it keeps the prices for it relatively high, which can translate into large returns for people who invest in and then sell it.
You can also buy palladium in a variety of forms. Contact Sedona Bullion to learn how to buy palladium in coins, bars and bullion to add to your investment portfolio.
Why Invest in Palladium?
Palladium can be a valuable asset to invest in when you are serious about building wealth for retirement. As a precious metal, it has the promise of increasing in value and withstanding factors that can devalue other assets, such as stocks, bonds and mutual funds, in your portfolio.
In fact, palladium, like other precious metals, is not tied to any single economy or government across the globe. This fact means that it can retain its value, even when economic or political factors, such as a recession or election, sink the value of stocks, bonds, mutual funds and other paper assets.
Further, when you invest in palladium, you have the reasonable assurance of having solid purchasing power in the future when you retire. You want to know that you can make your house payments and afford to buy groceries without worrying about if or when you might have money available to you. With palladium, you can predict with relative confidence of how much it may be worth when you retire and how much you can liquidate it for in exchange for cash, if or when needed.
What is a Self-directed Palladium IRA
As its name implies, a self-directed palladium IRA is a type of retirement account that you are in charge of and direct in terms of how much palladium to add to it. You also get to decide in what forms you want to add palladium to the account.
The IRS has specific rules that you must follow when opening and funding a self-directed palladium IRA, however. For example, you must purchase palladium that meets certain purity standards. Your palladium must be at least 99.95 percent pure to ensure the integrity and value of your IRA.
Further, the IRS requires you to use the services of a custodian for your self-directed palladium IRA. This custodian must also obtain IRS approval. Many investors choose banks, credit unions or other financial institutions to serve as custodians for their self-directed IRAs.
Even so, a self-directed palladium IRA can offer you the high performance, value and reliability you want when you build wealth for retirement. You can learn more about the benefits of one of these IRAs and how to add palladium to it by reaching out to us at Sedona Bullion.
How to Open and Fund a Self-directed Palladium IRA
Opening and funding a self-directed palladium IRA is a relatively straightforward process. To start, you need to select a custodian for it. You can find a custodian for this type of IRA at most banks and credit unions.
Once you open the account, you can then fund it using transfers from existing accounts like a traditional or simple IRA, TSP or 403(b) account, your 401(k) or a Roth IRA. You can also use cash to fund your new self-directed IRA.
With the funds in place, you can then direct your custodian to buy palladium in whatever form you choose on your behalf. The custodian will then send the palladium for safekeeping at the depository you choose for your self-directed IRA. You cannot legally keep the palladium yourself, according to the IRS’s rules.
You can then monitor and adjust your account as needed to ensure it builds wealth according to your retirement plans. Find out how to invest in palladium and add it to your self-directed IRA by contacting Sedona Bullion today.
