Because of the flexibility it offers in terms of investment options, IRAs are a great tool to prepare for retirement. Employer-based accounts restrict 401K investments to stocks, bonds, mutual funds, which makes them easy for administrators. IRAs don’t have restrictions on the types of investments they can hold. The only restrictions are life insurance and collectibles. See Oxford Gold Group to get more info.
With the current economic stability, retirement account holders have begun to seriously consider gold investing in IRAs. Because gold is a stable investment, many account holders have turned to it, especially after the recent stock-market crash. Because they have seen how volatile the stock exchange can be, they now want tangible assets. They are making investments for their future.
It’s very easy to invest in gold through IRAs. You only need to create a self directed IRA. This would require you to either transfer funds from an existing retirement fund or make direct deposits. All IRAs require a custodian, trustee or administrator. Make sure you find one that allows gold in your IRA. IRS rules stipulate that account custodians should only be appointed to execute investment transactions. However, the IRS does allow him to impose additional prohibitions.
Once you have created your self-directed account you are ready to start searching for your gold IRA investments. There are two options available for investing your gold in an IRA. Another option is to invest in stocks of reputable mining companies. Another option is to hold physical gold in your account. When it comes to investing in gold for IRAs, you have the option of choosing between both. If you want to keep physical gold assets in your IRA account, however, you must open an account with an IRS accredited storage facility. Account owners, as well as custodians, are forbidden from handling any physical gold assets.
Consider other factors when you are considering investing in gold in IRAs. Keep in mind that certain standards have been set by the IRS regarding the fineness and purity of the gold assets you can keep within your IRA. These standards limit your options, so you should consider buying gold bullion currency coins. This includes the American Gold Eagle, Canadian Gold Maple Leaf Coins, and the Australian Kangaroo Nuggets.