by Precious metals such as gold and silver can provide portfolio diversification and a hedge against market volatility, inflation, or both. A popular way to plan for a secure retirement is to roll over a 401k. It is now a question of how to establish an IRA that invests in gold. Read more now on top gold IRA companies.
The Tax Payer Relief Act of 1997 created an alternative to traditional 401k’s when it was possible to add physical precious metals to an IRA. The permissible metals for a gold IRA are gold, silver, palladium and platinum. All must be bullion bars or coins and of a specified fineness. In a gold IRA, rare coins and other collectible silver and gold coins are not permitted. Your precious metals broker is able to help you determine which metals are best for your portfolio.
Before you decide on the metals that you want to buy for your Self Directed IRA it is wise to begin the process of establishing a IRA. Your precious metals broker can contact your current custodian and ask if physical metals are possible to be added to your IRA. Many cases won’t allow precious metals investment due to specific IRA plans. You will then need to start the process for a 401k rollover to a new, gold IRA.
Your broker will help you find a custodian who specializes on gold IRAs. Once the custodian has been chosen, paperwork will need to completed. These documents will include the amount to be rolled into your new gold IRA account, the beneficiaries, and additional information.