Convert your IRA to Gold - Satori Traders
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If you have a Traditional IRA holding stocks and bonds and you want to transfer money out of that IRA and into physical Precious metals, this quick video will show you how to convert your IRA to Gold
Converting IRA to Gold
There are two ways to convert your IRA to Gold:
The first method involves these simple steps:
1. You take a distribution from your Traditional IRA
2. You pay the early withdrawal penalty of 10% (for investors under the age of 59 1/2)
3. You pay income taxes on the distribution at your existing tax rate
4. You use the money to purchase Gold Bullion bars and Coins at your local Coin shop
The second method for converting your IRA to Gold is to rollover or transfer funds from the Traditional IRA into a Precious metals IRA where physical Gold is held on your behalf
Benefits of Gold IRA
There are three key benefits of a Gold IRA
First, being able to purchase physical Precious metals inside a tax-advantaged savings account
Second, providing diversification for a Portfolio of stocks and bonds
And third, creating a hedge against Inflation
Investors are usually attracted to Precious metals when they feel some insecurity or anxiety about their existing financial situation.
Many investors diversify their retirement funds into Gold and Silver after becoming uncomfortable with the over-inflated stock markets and the financial shenanigans played on Wall Street.
Paper investments like stocks and bonds all have counterparty risk which means that other parties can default on their contractual obligations, causing the investor to lose all or part of their Investment
Gold Roth IRA
Precious metals IRAs can be established with either before-tax or after-tax money
An IRA established with after-tax money is known as a Gold Roth IRA
How to move 401k to Gold without penalty
The simplest way to convert all or part of your existing 401(k) to Gold is to set up a self-directed IRA using a Precious metals broker-dealer as the Trustee
Then you request a Trustee-to-Trustee transfer from your current 401(k) to the self-directed account
This rollover can be performed without any risk of triggering taxes or penalties
The big caveat on moving a 401K to Gold without penalty is that the move is only possible if you are no longer working for the company that provided the 401K. Currently active 401K accounts are not eligible for a Gold IRA rollover
Home storage Gold IRA
In a home storage Gold IRA the investor creates an LLC to act as Custodian
the Custodian stores the Precious metals in a safe in the investor’s home
this is a high-risk strategy – be very careful using it
Gold IRA reviews
If you do a Google search looking for reviews of “best Gold IRA companies” you will find numerous results
At first glance it may appear that these review sites are providing value by helping you narrow down the large field of Gold IRAs to just the best 5 or 6 companies
After looking at a few review sites, however, you may notice that they all look pretty much the same
That’s because they are all either affiliate marketers or lead generators and they are all trying to separate you from your hard-earned money
As always, caveat emptor, especially on the internet
Convert your IRA to physical Gold today
~
FTC Disclosure: Satori Traders is a fee-only California-registered Investment Advisor. We provide Precious metals information for free to help consumers educate themselves. The contents of this video do not constitute financial advice. Satori Traders provides financial advice exclusively to clients with assets under management as detailed in our Investment Management Agreement. Always perform your own analysis and due diligence when putting your hard-earned money at risk. Before making any Investment decision consult your own Investment, Financial, Tax, and Legal advisors. These professionals will make recommendations appropriate for your personal circumstances and tolerance for risk. We receive compensation from external companies when you do business with them.
Converting IRA to Gold
There are two ways to convert your IRA to Gold:
The first method involves these simple steps:
1. You take a distribution from your Traditional IRA
2. You pay the early withdrawal penalty of 10% (for investors under the age of 59 1/2)
3. You pay income taxes on the distribution at your existing tax rate
4. You use the money to purchase Gold Bullion bars and Coins at your local Coin shop
The second method for converting your IRA to Gold is to rollover or transfer funds from the Traditional IRA into a Precious metals IRA where physical Gold is held on your behalf
Benefits of Gold IRA
There are three key benefits of a Gold IRA
First, being able to purchase physical Precious metals inside a tax-advantaged savings account
Second, providing diversification for a Portfolio of stocks and bonds
And third, creating a hedge against Inflation
Investors are usually attracted to Precious metals when they feel some insecurity or anxiety about their existing financial situation.
Many investors diversify their retirement funds into Gold and Silver after becoming uncomfortable with the over-inflated stock markets and the financial shenanigans played on Wall Street.
Paper investments like stocks and bonds all have counterparty risk which means that other parties can default on their contractual obligations, causing the investor to lose all or part of their Investment
Gold Roth IRA
Precious metals IRAs can be established with either before-tax or after-tax money
An IRA established with after-tax money is known as a Gold Roth IRA
How to move 401k to Gold without penalty
The simplest way to convert all or part of your existing 401(k) to Gold is to set up a self-directed IRA using a Precious metals broker-dealer as the Trustee
Then you request a Trustee-to-Trustee transfer from your current 401(k) to the self-directed account
This rollover can be performed without any risk of triggering taxes or penalties
The big caveat on moving a 401K to Gold without penalty is that the move is only possible if you are no longer working for the company that provided the 401K. Currently active 401K accounts are not eligible for a Gold IRA rollover
Home storage Gold IRA
In a home storage Gold IRA the investor creates an LLC to act as Custodian
the Custodian stores the Precious metals in a safe in the investor’s home
this is a high-risk strategy – be very careful using it
Gold IRA reviews
If you do a Google search looking for reviews of “best Gold IRA companies” you will find numerous results
At first glance it may appear that these review sites are providing value by helping you narrow down the large field of Gold IRAs to just the best 5 or 6 companies
After looking at a few review sites, however, you may notice that they all look pretty much the same
That’s because they are all either affiliate marketers or lead generators and they are all trying to separate you from your hard-earned money
As always, caveat emptor, especially on the internet
Convert your IRA to physical Gold today
~
FTC Disclosure: Satori Traders is a fee-only California-registered Investment Advisor. We provide Precious metals information for free to help consumers educate themselves. The contents of this video do not constitute financial advice. Satori Traders provides financial advice exclusively to clients with assets under management as detailed in our Investment Management Agreement. Always perform your own analysis and due diligence when putting your hard-earned money at risk. Before making any Investment decision consult your own Investment, Financial, Tax, and Legal advisors. These professionals will make recommendations appropriate for your personal circumstances and tolerance for risk. We receive compensation from external companies when you do business with them.