You can purchase gold in a Gold IRA account. But why would you do that?
Here’s a good reason to do it:
In 2001, a pound of gold was worth $271. It was almost 700% higher ten years later at $1,896 This period was also one that saw the worst economic conditions in recent times. Currency crashed and banks collapsed. These events devastated other markets, but gold flourished. Although the market suffered from credit default swaps and subprime lending, as well as derivatives that even experts aren’t familiar with, gold shone through. Google “gold”, you’ll find plenty about gold’s fame as the symbol of wealth, original money, and refuge from economic crisis. Visit this site top 10 gold IRA companies.
Since thousands upon thousands of centuries, gold has been the store of wealth for kings throughout history. It will protect your purchasing ability – unlike money that can be printed and debased, gold or silver cannot be printed. It is nature’s only true hard asset.
Should a member cash in their IRA and purchase gold?
If you are looking to have stability and security in your retirement funds, then yes.
You can buy silver or gold coins and bullion in a self-directed Roth IRA or 401(k). Retirement plans usually offer traditional IRAs (or 401(k),s) that have stocks, mutual funds, or other assets. Investors often have little or no control over the investments made. A self-directed plan gives the holder the ability to make decisions about investments and to, if needed, increase their investment options. Precious Metals are an option.
The investor first transfers their traditional IRA. Current law permits both transfers of IRAs or rollovers from qualified retirement plans.
How can I buy physical silver and gold in an IRA
IRA investors can invest in gold and silver as easily as they would with any paper investments. The transaction is simple and the precious metals are an excellent investment. Self-Directed Gold IRA purchases are one of most tax efficient methods to finance your Gold/Silver acquisition.