In this post we will discuss how easy it can be to convert IRA to Gold and Silver. It is interesting to note that putting your individual retirement arrangement into gold and silver can be very easy and straightforward.
For example if your IRA allows you the options to choose which stocks, bonds and funds to acquire, you can then choose that specific investment you wish to own which is similar to physical gold and silver.
There is also a complete guide how you can roll over your IRA into physical gold and silver, though that is a little more complicated but we tried our best to make it as easy as possible. You can check out that when necessary.
Here are the Four Ways you can Convert IRA to Gold and Silver
Opening an account in an IRA that lets you choose your own stocks makes it very simple to convert your holdings into cash which is equivalent to precious metals. Click here to see which IRA we do recommend.
However, you can buy acquire an interest in silver and gold simply by buying stock in mining companies whose prices can easily fluctuate with the values of metals.
In a more different manner, you can also purchase an exchange-traded fund (ETF) that owns mainly gold and silver which makes a share of the fund equivalent to the piece of their precious metals.
You can Read = How Much Gold Should I Have In My Portfolio
For you to get a real, physical gold and silver in your IRA, you will need to set up a special self-directed IRA account. We also recommend you check out our recommended IRA account.
The self-directed IRAs are special IRA accounts which enables you to have more options when you want to own more precious metals than a traditional account.
This allows for so many physical metals like gold, silver, platinum and palladium, all this in your self-directed IRA. This is very possible and also you just have to follow the IRS rules. The IRS rule is a straightforward guideline which you do not have to worry about.
Rolling Over Funds
Having your money in any traditional IRA is not the best, because for you to roll over funds, you will need to roll over the funds into your self-directed IRA. After this has been done, you simply can more the money from your self-directed IRA into physical gold and silver.
You should note that the IRS lets you roll over funds once in a year (12 month period). Once your money is transferred from the first IRA account to the second IRA account within 60 days, you do not have to worry about paying taxes or penalties on this transfer.
Buying Your Bullion
When you have funded your self-directed IRA account, you easily can purchase gold and silver with it. You then contact a reputable dealer “preferably Regal Assets” and let them know you are in need of buying precious metals using your IRA Account.
Your IRA custodian will send the money to them and they will ship your bullion directly to your custodian’s depository. You also can buy pure bullion or a limited amount of bullion coins, including American Eagles.
Need a quick guide on gold investment? Read this Gold IRA Reviews.