Because I live in South Africa, I'm not familiar with the term but many of my American partners are and if you’re like most people, you might not have a clear idea of exactly what these terms mean or of just how valuable gold IRA investing can be.
“IRA,” stands for “individual retirement account,” and you can think of an IRA as a savings account. The only thing that makes it different from a normal savings account is that it comes with a variety of tax credits and/or tax breaks that enable you to save even more money than you would with a traditional bank account.
The money, goods or assets that you put into it are to be used toward your retirement. When people refer to gold IRA investments or to “retirement gold,” what they're referring to is gold as an asset in their IRA.
Just about anyone can open an IRA, but not everyone will be able to open the same IRA or the same type of IRA.
There are three things you need to do choosing a gold IRA company.
But the gold, and make sure you get the right kinds that are approved by the IRS. Store the gold in a vault somewhere because storing hundreds of thousands or tens of thousands of dollars in gold in your house isn’t a good idea.
Think of those movies where the baddies comes in and does a heist on the bank, and they might just decide to do it on your house if they know there’s gold in there because most burglaries happen when people that know the family and know the whereabouts of the valuables.
You'll want to choose a company that offers experience, especially in something as important as an IRA backed by real gold. You want to work with people who know the place to get the gold and who know how deal with the transition safely and securely.
One of the best ways you can learn about the different companies is to learn about them through the Better Business Bureau. There are ratings for each company, and there are also complaints listed for each company.
One of the best companies with the best BBB ratings is Regal Assets, and you can find out just what others think of them on their site by clicking here.
