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Why You Would Want To Hold Gold In An IRA
Gold has been a sought-after commodity throughout the history of the world. It is believed that it has always been worth more than its weight in any other metal, and for this reason, it has been used as currency since the dawn of civilization.
Its high value and relatively unchanged value over thousands of years has resulted in the practice of using it as a store of wealth, and as such, gold has been an ideal investment.
This is the number 1 reason we highly recommend this particular precious metal when people ask ‘can gold be held in an ira?‘
What Is An Individual retirement account (IRA)
Gold is a good investment for retirement accounts, but not all retirement accounts are eligible to hold gold. Individual retirement accounts (IRAs) are for people who have their own business or work for an employer that does not offer retirement benefits.
A standard IRA is used by individuals as a tax beneficial way of saving money for use during retirement. Simply put, a Gold IRA is the same but with the hard metal as the investment.
Although you can have both a traditional retirement account alongside a separate GOLD IRA, you must open the latter with a custodian or broker-dealer. You can research the best Gold IRA companies here.
Bill’s QUICK GOLD IRA TIP
A Gold Ira is a self-directed IRA when the funds are invested in precious metals, in this case, Gold.
True self-directed IRA
An IRA is a retirement account that gives you a lot of options for what you can invest in. The IRS has certain restrictions on what you can buy, but there are two exceptions: gold and silver coins. An individual retirement account can buy gold and silver bullion. However, not all types of coins are allowed to be held in a traditional IRA.
Control your IRA
A self-directed IRA is a type of IRA account that offers the account holder more flexibility when it comes to investing their retirement savings. One popular option for IRA account holders is to invest in gold, which may not otherwise have been available as an investment option under traditional retirement accounts.
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