There is no more of an important decision that when choosing the Best Gold IRA Company to open your account with. Choosing the right company that will assist you in safely rolling over part of your funds into gold, silver or other precious metals. On this page you will find some of the companies we have researched and recommend as well as some tips and things you should be looking for in a Gold IRA Account.

Things to Consider when Choosing an IRA Company

If you already have a functioning, well invested IRA then you are already on the right track for building stable retirement financial resource. The next step is to take your investment one step further in order to receive the highest payout possible for use your golden years—and many people believe that the best investment out there for use during those precious years is a Gold IRA. With this IRA subtype you are basically investing in the highly desired market of gold.

Choosing any investment opportunity can be stressful enough, even when you do not have to fret about the devaluation of the dollar, or the status of the economy, and the prospect of others buying the limited gold out there. These are all very real and serious concerns that many people will have when rolling over a 401k or an existing IRA into a Gold IRA. And all of these worries can be put to rest by possessing the right information and ensuring you have all the knowledge necessary for your decision.

The best way to ease your worries is to find a reliable company that can answer your questions and provide you with the best quality care possible. It is rather frustrating to locate an exceptional IRA company, as not all of them are loyal nor trustworthy. Later we will discuss some of the most reputable companies with excellent online reviews and success stories; however, for now we will first see what kinds of things you should judge these companies on.

What makes a great Gold IRA Company

It is important to know as much about the IRA systems as you can before going ahead with any contracts and commitments. Below you will find four  things to educate yourself on so you are prepared for your discussion with a representative from prospective IRA companies.

Beware of Hidden Service and Storage Fees

The representative will try everything they can to get you to sign on with them, their job is to sell and so many will do anything to get the best sale they can achieve. This can cause dishonesty and embellishment of costs and terms. It is important to be cautious and for you to ask direct questions about if there is a flat storage fee or if the storage fee changes based on an increase in the account balance. Know that many of the Gold IRA companies have an administration fee that will grow as your money grows. Make sure you know exactly what to expect from each and every company so that you can make your decision based on facts and not the embellishments of Gold IRA salesmen.

Know Your Precious Metals

Gold is not the only type of metal that can be used in an IRA, other precious metals like silver and platinum can also be invested in for IRA. It is vital that you educate yourself on the different metals and how they will be used in IRA, you will also need to watch for which types of metals can used when rolling over your original IRA. Figure things out for yourself first, like the benefits and disadvantages of both Gold Bullion (rare) and Gold Coins (collectables).

Learn all you can so you know which investments fits you the best. The types of metals you choose will also affect the storage facilities your need so ensure the company you are working with will provide you with the highest quality security features in their storage facilities. Also, be aware that the accountant representative that you deal with is receiving some sort of commission based on profit margins, so some of these representatives will try to convince you to invest in a particular metal. For example, one representative might try to sell you some rare coins to invest in as a way to get more money for themselves. Be aware of this and also make sure you read all of the online reviews and resources on each company you are considering.

The Best from your Investment

Remember that what you decide now may not meet your needs ten, twenty, or thirty years from now. Down the road you may wish to unload some of these precious metals or liquidate your assets. Check to see if there is a buyback program for the Gold or Silver you want to invest in. You should make sure you will get a fair value when you want your money. A good Gold IRA company will be reliable and helpful when helping you set up your investment as well as when you are ready to deplete your investment and receive your cash.

Making your Choice

It can be very angering to go through with a company only to be bombarded with additional fees and poor customer service. It is important to find the best suited company on your first try, to save you any unnecessary headache. Know that it can take 30 days to 90 days for your precious metals to deliver and so this long, tedious process does not need to be more stressful because you choose the wrong company. Since you will need assistance with rolling your funds into a Gold IRA account and dealing with any tax issues, it is always best to seek assistance from an IRA professional who can guide an assist you with all your needs and questions.

Three common complaints of Gold IRA Companies and how to avoid them:

Complaint Number One

Sales representatives who only care about their own commission from your transaction and so the customers feel taken advantaged of and less likely to proceed with rolling their IRA into a Gold Ira…It is vital to learn the difference between a cunning salesman and a helpful representative. A cunning salesman will keep trying to pressure you to buy something you obviously do not want and most likely do not need, a helpful representative will ask you questions about what you are looking for and offer suggestions to find the best IRA plan for your and your needs.

Complaint Number Two

Another complaint about the techniques of the salesmen is that their tactics are too aggressive; i.e. calling clients all the time and pestering them to make their decisions as quickly as they can…you should know that even the good representative are really in this to earn commission, but that does not mean they should annoy and pester you. A good representative will take the time to answer your questions and provide you with all the need information. They should wait for you to make your choice and not attempt to hustle you into a poor investing choices. You should be assertive and not let yourself be intimidated by representatives who appear knowledgeable about all things IRA—you most definitely should conduct your own research.

Complaint Number Three

The last most common complaint is that an account representative will try to get you to buy a precious metal that has a bigger profit margin for the company then that will benefit you, the client….this comes from, again, the salesman trying to get the best deal for them and so they will not provide you with the most accurate information. It is best to get most of your advice and information from neutral and third party sources. This way you will be able to ensure you have the most reliable information and can use that when talking with your account representative. Also, ensure that the company you are considering actually has a buyback programs and gives you the option of selling or liquidating your assets so you can make good on your investment.

Can my IRA hold anything other than gold?

Yes. Your new precious metals IRA is self-directed, and you have the authority to invest into any assets that you want. You don’t have to just allocate your funds to gold and other precious metals, you can also put them into stocks, cash accounts, mutual funds, and more. There are also other gold related investment products that you can invest your funds into.

Can my existing IRA be rolled over?

Yes, funds from an existing IRA can be rolled over to a precious metals IRA and you can do this as often as you want without having to pay penalties or taxes. You will simply need to set up the new IRA and then authorize the transfer of funds. Typically, the custodian of your new IRA will handle this and will work with your existing custodian to work out the transfer of the funds. IRA rollovers are subject to time limits and other restrictions and you may have to report it to the IRS. In order to avoid complications, be sure to get tax advice before you start the rollover process. Also, you can invest in gold with your 401(k).

What is the difference between a traditional a self-directed IRA?

A traditional IRA is controlled by a custodian or trustee. You must allow them to direct your funds into investments that they deem to be worthy. A self-directed IRA is where you get to choose where your funds are invested. You don’t have to follow the decisions of a custodian or trustee. The main benefit of the self-directed IRA is that you get to choose from stocks, bonds, precious metals, mutual funds, CDs, or other IRA-compliant investments.

How can I invest my IRAs into precious metals?

As long as your IRA is self-directed, you can simply direct some of your funds into precious metals. Most commonly, you can invest in palladium, platinum, silver, or gold. However, you must know that any precious metal, whether it be in coin or bullion form, must meet certain requirements of purity and refinement.

Can my existing IRAs be used to invest in precious metals?

Typically, yes. However, the final decision is left to your current custodian or trustee.

Is it OK to have more than one IRA?

Yes. There is no limit on how many IRAs you can have at once, but there are limitations on the total amount you can invest annually into IRAs. In December 2011, if you were under 50, you can contribute up to $5,000 per year in all IRAs. If you were over 50, you can invest up to $6,000 per year.

What is an IRA?

An IRA, or Individual Retirement Account, is a savings plan for your retirement that has been designed specifically to provide tax advantages to individual investors such as tax-free or at least tax-deferred growth of earnings. There are several different types or IRA accounts- all of which have different rules that govern the mimimum withdrawal age, annual limits on contributions, and others. Most commonly, IRAs are used to supplement an employer’s 401(k) account and typically will be the majority of your investment portfolio.

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