Physical precious metals assets have a track record of offering performance and diversification benefits[1]. To help maximize their effect on your savings efforts[2], you may wish to take certain considerations into account.
For example, choosing to include precious metals in an individual retirement account (IRA) instead of purchasing them to keep at home may present some tax benefits. Gold coin and bullion contributions are made on a pre-tax basis, and taxes are generally deferred until you take distributions. If gold assets are held in a Roth IRA, contributions are made on a post-tax basis, which can essentially equate to tax-free withdrawals.
Only specific types of precious metal coins, rounds, and bars can be included in self-directed IRAs. Items must generally possess a particular purity level, per Internal Revenue Service regulations. With few exceptions, gold assets must have a fineness of at least 0.995, and silver items need to have a fineness level of 0.999 or greater.
To prepare to purchase physical precious metals assets, you’ll need to first set up a self-directed IRA (if you haven’t already). Self-directed IRAs are similar to traditional IRAs, but in addition to assets such as stocks and bonds, these accounts can include a wider variety of assets, including real estate, gold coins, and other eligible precious metals.
Establishing a self-directed IRA can be fairly easy, particularly if you have guidance from an organization like the U.S. Money Reserve. The company’s Account Executives are available to help walk portfolio holders through the application and purchasing process.
Portfolio holder Lisa F[3] ., in one of the U.S. Money Reserve reviews Google has published, says she wasn’t even sure who was managing her retirement fund from a previous employer when she reached out to U.S. Money Reserve.
“They not only found the account but [were] able to get all of my funds transferred into my bank account,” she explains. “Then they helped me understand and [set] up my IRA. I feel very happy and confident with their assistance.”
Lawrence L., another portfolio holder who has worked with the U.S. Money Reserve, says he saw ads for the company’s services several times before calling.
“I’m glad I did,” he points out in one of the U.S. Money Reserve reviews on Google[4]. “Transferring my IRA was easy, and the company continued checking to make sure I was satisfied.”
Funding and Utilizing a Precious Metals–Backed IRA
Once your new self-directed IRA is set up, you can either fund it directly with money from a checking or savings account or ask a U.S. Money Reserve Account Executive to coordinate a rollover or transfer from another qualified account, such as a Roth, SEP, or SIMPLE IRA; 401(k), 403(b), 457(b), or pension plan; or Thrift Savings Plan.
To avoid incurring tax penalties when you move funds from an existing retirement account into a new self-directed IRA, you have two options: You can utilize a direct trustee-to-trustee rollover, where money is moved from your current IRA provider to your new precious metals IRA provider, or utilize a transfer, in which your current IRA account custodian mails a check directly to you. You won’t be subject to tax implications or fines if you deposit the money into your precious metals–backed IRA within 60 days.
Your U.S. Money Reserve Account Executive can then help you select an inventory of precious metals coins, bars, or rounds.
The coins Ron K. obtained through the company[5] were, he says, “even better than described.”
“The price was amazing, and I would recommend U. S. Money Reserve to anyone,” he says in one of Google’s U.S. Money Reserve reviews.
You can’t immediately retain physical possession of gold purchased through your retirement account; the IRS requires precious metals assets that are part of a self-directed IRA to be kept at an IRS-approved depository. A U.S. Money Reserve Account Executive can also help arrange for your assets to be sent to a secure storage facility.
Once the time comes to take distributions, however, you have the option to either liquidate some of your metals and take a cash distribution or have your gold coins or other physical precious metals securely shipped to your door as a distribution in kind.
Robert E., a portfolio holder who has worked with the company in the past, praises the assistance U.S. Money Reserve offered in one of the U.S. Money Reserve reviews posted on the Better Business Bureau website[6].
“Having someone watch over what is going on and helping me to diversify my portfolio is priceless,” he says. “The help I received in…setting up my precious metals [IRA] was handled well and makes me sleep comfortably knowing I was able to lock in my life savings.”
Could Precious Metals Have a Place in Your Savings Plans?
Consumers choose to include gold and other coins in their portfolios for a variety of reasons. Some[7] are drawn to gold and other precious metals because of their established long-term protective and growth benefits, which can make physical precious metals assets favourable inclusions in a retirement account.
As a portable asset that is bought and sold around the world, gold is considered to be relatively liquid because it can quickly and easily be exchanged for other forms of currency.
Portfolio holders who purchase items through U.S. Money Reserve can take advantage of the company’s buyback commitment, which allows customers to return qualifying certified coin purchases within 30 days or potentially sell them back to U.S. Money Reserve at a later date.
When a personal matter put Richard F. in a position of hardship after acquiring coins from the company, he was pleased that he was able to leverage his recent precious metals purchase, according to one of the U.S. Money Reserve reviews posted on Google.
“I reached out, and after a little back and forth, [my Account Executive] resolved the issue of returning my purchase,” he says. “I wish every company had a problem solver like [him]. We’d be so much better off in this country if there were.”
U.S. Money Reserve offers a wide variety of resources for portfolio holders who currently own precious metals assets or are considering purchasing some, ranging from market-related news alerts, reports, and precious metals price charts — which are available on its website — to a team of experienced Account Executives who are available to answer questions about precious metals purchases.
For more information about establishing and funding a self-directed precious–metals-backed IRA, call 1-888-356-7074.
