5 Things to Know Before You Invest –
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Gold has long been prized for its durability as a store of value. As an investment, it is considered a reliable hedge against inflation and market risk. For many investors, this has been one of its most attractive features. The reliability of gold makes it a great option for retirement investors in particular. For retirement investors interested in precious metals, setting up a Gold IRA might be the way to go.
Gold IRAs are retirement investment accounts that hold some amount of physical gold (bullion, coins, bars). They can be a great option for retirement investors seeking a diverse, low-risk portfolio, but before diving headfirst into the world of precious metals, there are a few things you should know.
- Know the rules and regulations.
- Gold IRAs are self-directed, which puts you in the driver’s seat. This can be an exciting position for investors seeking greater independence in their investments, but it also places increased responsibility on the investor. It’s up to you to know the regulations and make sure your investments are compliant.
- One of the most important regulations to know in this space is that only certain precious metals and coins are approved for investment. Before setting your heart on a specific investment, make sure it’s legal to include in your IRA.
- The IRS does not mess around with the rules and regulations, and neither should you. Many people have tried to outsmart them before, and many have ended up behind iron bars (when they should have been behind gold bars). The IRS will throw the book at those who dare to defy their regulations. Cross your t’s and dot your i’s.
- Never skimp on security.
- One of the only pirates known to have buried his gold – Captain William Kidd – most likely regretted the decision after his treasure was quickly found and dug up by the authorities. It seems that burying your precious metals is not exactly the foolproof plan it’s purported to be. If you’re looking to own gold coins and bars, you’ll need a more secure long-term solution.
- Owning precious metals entails several necessary expenses. One of the primary costs associated with precious metals is storage and security. Fortunately, you don’t have to store and secure your own gold (in fact, it’s not recommended).
- When you purchase precious metals, you can pay to have them transported to a depository, where they will be stored in a high-security vault. Storage costs owners a recurring fee which can be quite high, but with physical stores of value such as gold bullion, it’s absolutely necessary.
- Don’t forget to do your due diligence at every stage of the process. Take time to research and choose a reputable, trustworthy depository for your gold.
- Trust is key.
- Verifying the legitimacy and reputability of every party involved in the process is critical to ensuring the security of your investment.
- As this is a self-directed investment, the responsibility for finding and choosing trustworthy custodians, dealers, and depositories is on the buyer.
- You should always do your due diligence before proceeding with any investment – this is especially important in the precious metals space.
- Gold IRAs are tax-deferred.
- As tax-deferred investment accounts, contributions and gains to your Gold IRA will not be taxed.
- You will only be taxed on withdrawals, not contributions. For the most part, they are tax-deductible as well.
- Gold IRAs are also not subjected to the 28% collectible tax rate, but rather a marginal tax rate dependent on the investor’s income bracket. These are some of the unique benefits of Gold IRAs that make them so attractive to investors.
If you’re looking to take advantage of all the benefits that a Gold IRA has to offer, consult with a trusted Gold IRA provider such as Regal Assets. They can guide investors through every step of the process and ensure that you’re maximizing your investment potential while keeping in compliance with IRS regulations. Regal Assets aims to help retirement investors get the most out of their precious metals.
Learn more about IRAs (including Bitcoin IRAs and Silver IRAs) from Regal Assets. Find out if a Gold IRA is right for your investment strategy on the official Regal Assets website.
Click here for your FREE investment kit. For more info call Regal Assets on 1-877-962-1133.