The prevailing conditions of a global economic slowdown have harmed almost every type of market-related investment. However, precious metals have been an exception to the rule. While the growth in stocks, bonds, mutual funds, and real estate has been negative in recent years, precious metals such as gold and silver have experienced an unprecedented boom in growth.
People with retirement savings linked to investments in precious metals have been enjoying significant growth in their investments, and the momentum seems to be continuing unabated. In such conditions, a Gold IRA rollover appears to be a sound investment strategy for those who are keen to plan their retirement savings wisely. An increasing number of Americans are seeking to take advantage of the gold IRA rollover today.
WHAT IS GOLD IRA ROLLOVER
The gold IRA rollover guide refers to a simple process that enables you to diversify any part of your retirement savings portfolio, including existing IRAs, or previous 401Ks from an ex-employer. It allows you to own gold and other precious metals as a part of your retirement plan. A gold IRA rollover is a process approved by the IRS. It involves the least amount of hassle and is completely free of taxes.
A gold IRA performs in a similar capacity as your existing traditional IRA account, with the basic exception that instead of making investments in stocks, bonds, or other forms of investment, you will hold your investments in actual gold coins or bars. You will not receive the physical possession of your gold, but it will be retained in a safe, IRS-approved depository until you reach your retirement. Thereafter, you are free to receive the physical possession of your gold. Alternatively, you are free to sell it off for cash at any point in time.
WHICH TYPE OF ACCOUNTS ARE ELIGIBLE
A gold IRA rollover is ideal for people who at present own a traditional, SEP, Roth, or Simple IRA account. However, several other types of retirement accounts may also be eligible for the gold IRA rollover. These may include 401K, 403B, and 457 deferred compensation plans, thrift savings plans, pension plans, Non-prototype IRA, TIAA CREF, and Beneficiary IRA.
OTHER CONSIDERATIONS
To have practical applicability of a Gold IRA Rollover, it may be important to execute a separation from a 401K rollover, such as leaving existing employment. However, several exceptions to the rule exist, which you may be entitled to. In any case, IRA transfers may be carried out through a gold IRA rollover. The IRA transfer occurs when an existing IRA is transferred from one custodian to another.
When the transfer takes place directly from one custodian to another, it makes the whole process straightforward. The failure of a rollover process may happen if the cash is not transferred within the stipulated period of 60 days. In such a situation, the IRS will view the transfer as a new, taxable income. It may also incur extra fees on your investment. Regal Assets is a highly reputed gold deal with a team of top professionals to help you with your gold IRA rollover.