Common Retirement Investment Options
Many people are not quite sure what to do with their 401K retirement plan money in the event they change jobs or retire. It would therefore be wise to come up with a strategy in good time so that you do not end up spending your hard saved money unwisely and loose on great investment opportunities. If you are changing jobs, you may consider doing a 401K Rollover with the funds from your previous employer to your current employer’s 401K plan. Another alternative would be to roll over your assets to an Individual Retirement Account. This way you can continue saving for future needs.
Gold IRA Rules
There are some rules that apply if you want to back your IRA with gold. In the year 2002, an extra contribution of $500 per year was allowed for IRA owners, and by 2006 it was raised to $1000. In case you are doing a transfer from one IRA to the other the IRS does not impose any taxes on you. However, if you do a roll over and you receive your contributions from your IRA, the transaction will be regarded as a withdrawal and the IRS will inadvertently tax you. This is because it will be regarded as a source of income.
Gold IRA for Retirement
At a time when the global economy is not doing so well, many people are worried about their retirement funds being depleted as a result of inflation, political unrest and government policies. A wise move would be to add precious metals such as gold to your investment portfolio because they are not adversely affected by economic, political and financial factors. You can invest in gold in your IRA through paper such as ETFs and stocks or actual gold such as coins and bullion. You can never go wrong with gold because its value goes up any time the dollar depreciates.
What is Gold IRA
Gold Individual Retirement Account is one of the investment options that is backed by gold. For the purposes of retirement, the US government allows you to invest in gold for retirement and other valuable metals such as silver, platinum and platinum in your IRA. One advantage in doing so is that you get tax exemptions. Another is that your money grows as a result of gold appreciating every time there is conflict of war and even gas and oil prices increase. This guarantees you a safe and secure future for you and your family.
How to Pick Gold IRA Companies
Once you have decided to invest in gold for your IRA, the next step is to settle on a reputable Gold IRA company. You need a company that has a good record and is capable of understanding and meeting your needs. The company should be in charge of procuring the IRS approved gold, set up the gold IRA and store the gold in a secure location. A good company should be accredited with the Better Business Bureau (BBB), and should also have a good rating with the Business Consumer Alliance (BCA)