When you select a qualified trustee to oversee your plan, you can rest assured that the investments will be safe. Keeping your investments in other forms leaves you at the mercy of rampant inflation, which has already begun.
DollarThe US dollar has significantly lost value compared to gold, as have other currencies. The reason for this is the difference between gold and fiat money.
The former is something real that retains value throughout the centuries. The latter is just a piece of paper that increasingly unbelievable governments assert to have value.
Gold is also an excellent way to obey the diversification rule of investments. Just as it is inherently dangerous to put all your money into a single stock or a single sector of the market, it does not make sense to keep all your money in financial instruments.
Every investment portfolio, even those designed for retirement, should carry some alternative investments. While some alternative investments have been classified as risky, the declining value of the dollar should demonstrate that it is the other investments that are in danger. Gold just seems to maintain its high value no matter what.
George SorosThe profit potential of buying gold is immense. It is an attractive investment for people of all ages, regardless of their market strategies. In fact, it is so attractive that massive funds operated by genius billionaires such as George Soros have even begun picking up gold. If it has drawn the attention of someone as successful as him, then it should not be considered inappropriate for your IRA.
What Happens Now?
If you want to make the change through a gold IRA rollover, you will need to find a trustee that will participate in gold investments. Not all companies will try their hand at this. Numerous other companies are willing, though, so you can rest easy about the transition process once you give the green light.
Austrian PhilharmonicsYou will not be able to hold the gold yourself. Tax laws prohibit that. Instead, your selected IRA custodian will hold the gold through a depository.
Whether you own physical quantities of gold coins or have the account invest in gold ETFs, this will all have to be under the control of the trustee. The IRS must approve of the depository in which it is held.
The unique thing about retirement with a gold IRA rollover is the result when you officially retire. Most pensioners simply begin to collect payments from their retirement accounts.
If your IRA held investments are in physical gold, coins or bars, those quantities will be shipped to you after you retire. You will be able to hold the gold in your hands and make decisions about what to do with it yourself.
You can sell it for cash, store it away or put it back into the market. Whether you hold it in your hands or keep it in a vault, the gold will continue to grow in value as the dollar weakens.