Given the current economic situation, market fluctuations and uncertainty in future forecasting, as well as recent falls in the value of retirement accounts, it’s no surprise that many people are looking to invest in precious metals to help protect their retirement assets. Historical records show that gold and other precious metallics have fared better in economic downturns than traditional stocks or similar investment options. Anybody with a retirement account at high risk can benefit from a rollover to precious metals. But, that decision is one that every investor should carefully consider and research thoroughly before making. See best gold IRA company to get more info.
People often choose to invest in a gold-backed IRA for protection of their investment portfolios. Precious metals are a hedge against inflation and can negatively affect other investments. This is because one cannot print precious metals or gold. The supply of gold is very limited so it should have a minimum value, regardless of what happens in the rest of the world. These self-directed IRAs are also less vulnerable to market declines.
These steps will help you to consider a rollover of your gold IRA. First, check with your current investment management company if they offer rollovers to precious metal investments. You can then research the investment company to see if they offer self-directed IRAs. You might consider moving the investment portfolio to a better-qualified company that can offer you gold-backed IRA options. This is known as a transfer rollover. The assets are being transferred into a new company but the bulk of the work is done by the company directly, contacting the old firm on behalf of the investor.
Remember that general rollovers must be reported to the Internal Revenue Service, while transfer rollovers can fly under the radar. These transfer rollovers usually close in sixty days and are very easy for investors to complete.