A gold IRA rollover is a tax-advantaged way to transfer your 401(k) or other retirement plan into a self-directed IRA. You can use this type of account to invest in gold and other precious metals, as well as collectibles, real estate, private placements, and more.
Gold IRA Rollover Benefits
One of the biggest benefits of a precious metals IRA is that you don’t pay taxes until you sell your assets. This means you won’t have to pay taxes on any gains until you liquidate your holdings.
You’ll also be able to defer capital gains taxes on your other investments when you rollover your existing 401(k) or other retirement plan into an IRA account with precious metals as one of its investment options.
Gold IRA Rollover Requirements
Your income level will determine whether you can open an account with precious metals as an option for investing your retirement funds. This is because of the IRS’s IRA contribution limits. You can’t contribute more than $5,000 annually to an IRA if you’re under 50 years old or $6,000 if you’re 50 or older. However, there are ways around this restriction through various rollover strategies that allow investors to maximize their tax savings.
Gold IRA Rollover Companies
There are many gold IRA rollover companies that offer precious metals as an investment option. These companies typically provide a custodial service for your IRA, and they will store any precious metals you purchase through them. They also offer other investment options such as stocks, bonds and mutual funds in addition to precious metals. One of the most popular gold IRA companies is Gold Co as you can see from all Gold Co reviews found online. They have a great reputation. They also offer some of the best gold IRA rollover rates in the industry, which is why many investors choose them over other companies.