Precious Metals Roth IRA: Fast Facts

As economic climates and stock markets constantly shift and fluctuate, it is no wonder that Americans today are looking for ways to stabilize their retirement funds and secure their financial futures. One of the ways you can do this is by creating precious metals Roth IRA. When you own actual precious metals, such as gold, silver, palladium, or platinum, you create a portfolio for your retirement that is well-diversified, ensuring better financial security than other methods. This might sound more complicated than a traditional gold IRA, but the process is just as easy.

Fast Facts About a Precious Metals Roth IRA

-As a refresher, a Roth IRA is an IRA that enables you to withdraw your funds tax-free, when you are eligible to do so. With a traditional IRA, you will be taxed on monetary withdrawals, but the contributions you make are tax deductible. To find out if a precious metals Roth IRA (tax-free withdrawals) option is best for you, make sure to consult an experienced investment professional.

-Selecting this new retirement account means that you have a self-directed precious metal Roth IRA. Self-directed doesn’t mean that you are suddenly expected to be the expert investor, but it does mean that you are in control of your investing decisions. A custodian, or company who stores your funds, will take care of the transactions and maintain a secure state for your funds.

-You may be in a position to convert the funds of an eligible retirement account, like a 401k from a previous employer, into a gold-backed IRA. When you opt for this route, it allows you to keep certain tax benefits that come with a government-approved retirement account, while adding the perks that are unique to precious metals investing. You may also fund your new precious metals Roth IRA portfolio with an already existing IRA, in an IRA-to-IRA transfer.

-Roth IRA Gold Types: There are a number of different assets which are approved for placement when dealing with gold Roth IRA. These types include gold bullion bars or coins, as well as gold proof coins.

-When you choose a gold-backed Roth IRA, you have the opportunity to invest in additional precious metals like silver, palladium, platinum, and further commodities like mutual funds, real estate, and stocks.

-Any precious metals used in your precious metals Roth IRA need to meet appropriate fineness requirements, and must have been produced by a refiner who is both approved and accredited.

Perhaps the most important aspect of creating precious metals Roth IRA is selecting a financial advisor who understands your vision and goals for retirement, and has expert knowledge about precious metals investing. Professionals like those at McAlvany ICA have the experience, documented record of success, and connections to help you create a portfolio that meets your specific goals for a secure financial future. Their knowledgeable advisors can provide all of the necessary counsel you need to make the best decision for your financial future, from explaining investment options to finding secure storage for your precious metals. Contact us today, and let us help you make the dream of a secure financial future a reality.