Gold-backed IRAs are a great way to diversify your retirement portfolio. They provide a unique way to hedge against inflation and market fluctuations while also providing tax-deferred growth and withdrawal benefits.
The process of transferring an existing IRA or 401(k) into a gold-backed IRA can be done in two ways: directly transferring the funds or rolling over your account. In this article, we’re going to go over both methods so you know exactly how it works and what you need to do in order to get started today.
The most common method for transferring an existing IRA or 401(k) into a gold-backed IRA is to directly transfer the funds from your current account into your new account. This process requires you to fill out a form and send it to your financial institution along with an authorization form signed by both parties.
Once you’ve completed these steps, your account will be transferred and the funds will be liquidated into the new account. Once they are, they’ll be considered “gold-backed” IRAs and can be used to purchase gold coins or bars.
Gold IRA Rollover
If you’d prefer not to transfer your funds directly into a gold-backed IRA, you can also opt for a gold IRA rollover. This option allows you to move funds from an existing retirement account into a new one without liquidating them first. The process is similar to the direct transfer method in that it requires filling out paperwork and sending it back to your current financial institution. However, instead of signing an authorization form that authorizes the transfer of funds, you’ll need to fill out an application for a new account. After that, your current IRA custodian will send your funds directly to the new institution.
Find A Good Gold IRA Rollover Company
Once you’ve decided to roll over your IRA, it’s time to find a good gold IRA rollover company. This is where many investors run into problems because there are so many companies out there that claim to offer this service.
Before you start looking for a gold IRA rollover company, make sure that you do some research on your own first. This will help you narrow down the list of potential providers and make it easier for you to find one that’s right for you.
GoldCo in is one of the best gold IRA rollover companies in the business as you can see from numerous GoldCo reviews. They’ve been around for years and have helped thousands of investors take advantage of their retirement accounts by investing in physical gold. GoldCo offers a wide range of investment options for your IRA, including coins, bars and even collectibles like art work and jewelry.