Gold IRA Rollover: Protect Your Retirement!
Can you feel it? There is uneasiness in the air. Seen the news lately? See all those protests? It is REAL folks! Could a gold ira rollover help?
I hope for your own sake, your financial adviser has mentioned it to you. Or was it a friend, a family member?
Here is the thing:
If you have been living in the USA over the periods of 2001 and 2008 you sure know of someone, a friend, a neighbor, a colleague that lost most of their retirement savings and thus couldn’t retire?
Now: wouldn’t this be a good reason to be concerned about the scary state of the economy and the devaluation of the US dollar?
I thought so! A damn good one you may add, right?
Are you worried about becoming a burden to your children in retirement? You sure are not alone! It is time for an IRA investment backed by gold.
A recent survey of the top precious metals companies has revealed that most citizens are seriously concerned about the state of the economy.
Now: regardless of who you would have heard about a gold IRA from it is especially important that you have actively begun to do something about it. You have arrived at the right site today.
Here at RollOverGoldIra.net we take this subject of gold IRA rollovers seriously enough to actively have our finger on the pulse and share whatever information of importance with you.
You are probably worried you will not be able to retire peacefully?You should be!
Precious metals companies have reported a staggering amount of calls recently from citizens who are taking steps to safeguard their retirement portfolios.
The 401k and IRA plans were created by the US congress to assist citizens to privately plan for their financial needs post retirement.
Most employees in the US entirely relied on the benefits given to them by the social security fund once they had retired.
This all changed in 1974 however, with the introduction of the ERISA Law, effectively changing retirement plans from DB (Direct Benefit) to DC (Direct Contribution) plans.
Read more about ERISA and its implications here.
When Should I Consider A 401k to Gold IRA Rollover?A gold IRA rollover can effectively be carried out by those that already have some type of retirement plan set up, like the 401k that already has some funds in it.
Later, we will look at why anyone with these type of plans should consider a gold IRA rollover.
For now though: let us look at a subject that is bothering millions and millions of Americans, seventy-million Americans to be exact.
It is the problem of the 401 K, why we need to retire it and why it is not working for millions of Americans any more.
The Original Intention of The 401K And Why It Is Not Good For You!
The 401K was originally created by congress as a tax dodge for executives, some thirty odd years ago. It was never meant to be the primary vehicle of retirement for Americans and over the last twenty years it has become so.
Workers weren’t even eligible for it when it first started, but it was the executives who were trying to shield some of their income from regular tax in real time so they could put it away where it wasn’t going to be taxed.
Isn’t a 401K Supposed to Be About What You Have When you Retire?
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Originally, the 401 K was meant to be a supplement to the kind of retirement that one would have, traditionally a pension plus social security.
But as so many companies got rid of their pensions over the years subsequent to the introduction of ERISA, people became dependent on the 401K.
Most of these people have lost out big time and only realized their losses upon retiring.
The Problem With How The 401K Works And What To Do About It
What’s been a disaster for many people going into the recession and now having come out of it slightly, is that the way the 401 K works is: the closer you are to retirement, the less choice you have and the more money you are likely to lose.
What has become apparent over the last few years is that if you had a hundred thousand dollars in your 401K ten years ago and you had the standard alignment of investment, you most probably have less than that now.
So: people who are retiring are going into their retirement with hardly anything in their 401K. Time and time again the people are having to work past the retirement age of 65 yrs.
Some even working into their seventies because their life savings were blown over the past couple of years on 401Ks.
In fact: there is a quirk in the 401k which is, the closer you are to retirement the more likely you are to lose money if the stock market goes down. This happens because you are putting less money into your 401k.
That is what happened to a lot of people in 2001 and again in 2008.
The Biggest Stock Market Crash Is Looming: Best Way To Protect Your Retirement
Now: with 2001 and 2008 in hindsight, what would you do if another stock market crash was to happen just before you retire? Would you let the lessons learned in 2001 & 2008 work for you or would you do nothing about it?
There is no doubt that there is an impeding stock market crash, simply because almost the entire generation of baby-boomers is about to retire. When they do, they are legally obliged to pull their money from their 401Ks, most of which is invested in the stock market.
This will be like a bank rush, where a lot of people go in and make withdrawals in a panic, except this won’t be a panic, it will be normal retirement. When that happens, the stock market will crash, repeating the 2001 – 2008 cycle for most retirees.
Winning The Battle: How To Make Hindsight Work For You
If you have been contributing to your 401K over the last 5 to 30 years it is highly advisable that you hedge your bets. How do you do this? By simply rolling over your 401K into a precious metals backed IRA.
We recommend a gold backed IRA.
How to Convert Your 401(k) into Gold & Silver Bullion
It is quite possible to easily convert your current 401K to a precious metals backed 401K. We recommend either a silver 401(k) or a gold 401(k).
Remember, this method gives you exposure to these precious metals without having to put any money down.
How you convert your 401K entirely depends on what situation you are in right now.
Gold IRA Rollover Situation 1: 401K Is With Former Employer
If you have a 401k with your ex-employer, the best route to take is to “rollover” those funds into a self directed IRA, commonly referred to as a traditional IRA.
A self directed IRA allows you to purchase precious metals like gold and silver with the money deposited (within 60 days) into it.
Steps To Follow In This Situation Are:
- Setup a Gold and Silver IRA account with a trusted broker/custodian.
- Fund your account (rollover funds from 401K)
- Execute a trade (buy precious metals)
This Is Our #1 Top Recommend Precious Metals Company Gold IRA Rollover Situation 2: 401K Is With Current Employer
In-Service Distribution Option Available
You may be able to rollover your 401k funds with your current employer if it has an “in-service distribution” option available.
This option allows your to do a gold IRA rollover within 60 days of money being freed up from your 401k in order to stay within the applicable Tax provisions.
Simply ask your current employer about the availability of the “in-service distribution” option. If it is available, your human resources people are likely to be in a position to guide you through the process.
In-Service Distribution Option Unavailable
If the “in-service distribution” option is not available, you can
1. make a formal request through your HR department that it be included as this will benefit everyone that works for the company.
2. If this fails, simply contact your Gold IRA company of choice and open an IRA account into which you can move (rollover) your funds. With this option, referred to as a “rollover”, you will:
1. set up an IRA account with a new custodian. Click here to do this safely and hassle-free.
2. apply for your funds to be released from your current retirement account by your current retirement fund custodian
3. receive a distribution check from your retirement account
and deposit that check into the new retirement custodial account within 60 days
4. execute a trade
Important: The same money can only be rolled over once every 12 months to preserve its “tax-deferred” status. Should you not deposit this amount within the 60 day period, it will be deemed taxable income by the IRS.
This makes you liable for a 10% early withdrawal penalty on the amount plus Tax as applicable to your income bracket.
Situation 4 – Gold IRA Transfer: If You Already Have A Traditional IRA Without Precious Metals
Your first option here is to do what is referred to as a “transfer”. A transfer can be done at any time provided it takes place between two custodians. That is to say, the funds simply flow from one custodian’s account (current/old custodian) into another custodian’s account (where new IRA account has been setup).
Because this provition needs to happen between two custodians, all you will need to do is fill out some forms with the new custodian, granting them the necessary permissions and they will then liase with your current custodian to complete the whole process.
* Start that process today, simply follow this link: http://rollovergoldira.net/setup-ira-account
Important: deal only with a custodian that has a long history of effecting similar transactions.
Our Recommended Gold IRA Custodian has effected many such transactions.
04/04/15 – Thank You Christian Howard!
After doing a lot of due diligence into Gold IRA Companies, Regal Assets came up on top. And, after contacting them Christian got right back to me and sent me a package to review…no pressure. I talked with him again on several occasions and he was very informative and seemed very knowledgeable about Gold and Silver, I sent my monies and am very happy that I did as the whole crew at Regal was very nice, informative and were not pushy.
– Bob B.
5/26/2015 – Collin Plume makes this so easy!!!
I called Regal Assets and they put me in touch with Collin. Collin explained how the process worked and went thru each step to help me understand what was involved. Rolling over my 401K was a lot easier than I thought. I am very impressed with Collin and Regal Assets. Would recommend them to friends and family!! – Deborah P.
10/17/2014 – Collin Plume is great!
After checking on the internet,I found Regal Assets was recommended. I called. Collin Plume sent me a kit. He gave me all informations without any pressure.I quickly made up my mind, sent the money. When there was a little delay for my order’s shipment, Collin or one of his associates kept in touch with me. I was confident Regal Assets could be trusted. Collin Plume did an outstanding job. – Jacqueline G.
Why Consider A Gold IRA Rollover?
The average employee in a 9 to 5 job has some kind or equivalent of a retirement plan. Most companies and governments around the world encourage the taxpayers to set up some sort of pension plan to lean on, in their old age.
Notice, while this is very commendable, the employer/government rarely discusses with the employee/civil servant about the viability of such savings in the future.
90% of these employees have been sculptured either by lifestyle or misplaced financial ideologies, to invest their lifetime savings in a traditional 401K IRA (Individual Retirement Account) plan.
Such a plan is typically paper-backed and revolves around investments in the form of mutual funds, bonds, real estate Capital, LLC, and blue-chip companies’ stocks.
The employee, after toiling hard through the years, looks forward to retiring wealthy, only to find out that his stash is not as sizable as he had expected.
Why? We are faced with the reality of the devaluing of the US dollar every waking moment. Thanks to inflation, prices of commodities have shot through the roof, and we’re in the midst of a threatening an economic meltdown.
The culmination of such and similarly related crisis is the considerably decreased purchasing power of his retirement nest-egg. Stocks, on the other hand, are not any more secure.
As a company expands, more shares are created, and the consequence is the plummeting of the value of the original stock. Even worse, a single hefty recession could wipe out the entire life savings.
Gold IRA Account – The benefits
See this case study here to have an illustrated understanding. Gold has over the years maintained a steady and upward trend as far as its market value goes. This is mainly because its not possible to overproduce this precious metal, in spite of the growing demand.
So to speak, backing your retirement funds with gold, not only hedges your investment against the fluctuating economic forces, but also leaves you at a better position of accruing enormous returns should you sell the gold in future.
This further implies that the value of your retirement package keeps on appreciating as the demand and prices of gold skyrocket. A gold IRA account furthermore provides the investor with the much-needed tax relief unlikely to be enjoyed with other traditional forms of investments.
Diversifying your investments, by using some of the funds in your 401K account to purchase IRS approved IRA gold coins is a smart way of creating a strong retirement portfolio.
Setting Up A Self Directed IRA
This implies that he can invest in number of viable investment options without many restrictions imposed.
The beauty of it is that anyone is eligible to set up such as an account.
IRAs are managed by custodians, which arrays from financial institutions to insurance companies and brokerage firms.
Since the IRS allows the custodians to impose any rules above the usual ones, it’s important to consult widely on the limitations of an IRA opened within a particular establishment.
The profits attached to such a venture are however quite numerous. In such a scenario, your investments are better protected against bankruptcy and creditors.
Most countries and states have outlawed the seizure of personally managed IRA assets.
The owner of the account, in addition, can invest in fields that he feels he is well versed in. The investments strategies and other crucial decisions are often left at his disposal.
A self directed IRA typically forms the first step in setting up a gold IRA account.
Acquiring a Gold IRA Account
With your new self-directed IRA in place, it is now easier to add gold to your retirement funds. Your custodian through IRS Account Executive will help you purchase the IRS approved IRA gold coins.
The Account Executive is usually an IRS authorized gold and precious metal dealer. The custodian is responsible for all the paperwork filed and the transfer of funds to the gem broker.
Hence, it’s wise to conduct due diligence when choosing a suitable custodian in the first place.The coins are then stored safe depository, and you proceed to earn interests each time the price of gold rises, just as trading in forex.
The gold IRA account enjoys the same privileges as any other self-directed IRA.
How Would You Like To Proceed? Click Below:
- Request a Free gold kit to Learn more
- Compare the top Gold Ira companies
- Read our review of our Top Choice
Avoid the looming stock market wipe out, protect your retirement nest and enjoy a peace of mind today!
What rules apply to Gold IRA Rollovers?
The rules were recently updated at the beginning of this year, 2015. The significant bits are as outlined below:
1. One is not allowed to make IRA to IRA transactions twice in a year (not calender year). You are only limited to one rollover per year. This implies that if for instance you have done your first transaction, then subsequent transactions in the same year period will not be considered as rollovers but as part of your gross income. This obviously impacts on your Tax liabilities.
2. Once you report an amount as gross income, it will be considered an early withdrawal from your retirement savings plan and hence attract a 10% withdrawal penalty.
Despite the implementation of all the above rules, there were exceptions given for transactions made in the year 2014.
This implies that if you made a transaction in April 2014, you can still make another transaction before April 2015 but only once. Thereafter, the new rules will be fully effective.
What things must you look out for and avoid while doing a Gold IRA rollover?
From the rules given above, it becomes obviously important to plan for your rollovers and the best way to plan is have the confidence of a competent gold ira advisory.
Gold IRA rollovers are the most profitable kind of rollovers. This is because they do not get affected by financial crises.
But given that the new rules are soon going to be effective, you should be able to plan well before doing any transaction.
It is important to know that multiple transactions will only eat into your income if you fail to calculate well and avoid them.
You should look for the most reputable institution to handle your gold ira rollovers. This will minimize the risks associated with investments in general.
A good institution will significantly help you in making rollover decisions in line with the expectation of the markets and the economy at large.
What Precious Metals Can I Hold In A Retirement Account?
At present the US government allows for Platinum, Palladium, Gold and Silver to be held in a retirement account.
Bars, coins and rounds are permissible but only when produced by accredited manufacturers.
A National Mint
Minimum Fineness Requirements
The precious metals held in your IRA have minimum fineness stipulations. These are:
.9995+ for Platinum and Palladium
.999+ for Silver and
.995+ for Gold
This requirement basically rules out coins like the Krugerrand from being held in any retirement account, be it a gold 401K or IRA.
Physical Gold And Silver IRA Types Allowed
American Gold Eagle 1 oz Coins
- American Gold Eagle Coin 1 oz – 2015
- American Gold Eagle Coin 1 oz – 2014
- American Gold Eagle Coin 1 oz – Random Year
American Buffalo Gold 1 oz Coins
- American Gold Eagle Coin 1/2 oz
- American Gold Eagle Coin 1/4 oz
- American Gold Eagle Coin 1/10 oz
Austrian Gold Philharmonic 1 oz Coin
Canadian Gold Maple Leaf Coin 1 oz – Random Year
Credit Suisse Gold Bar 1 oz
Credit Suisse Gold Bar 10 oz
2015 American Silver Eagle Coin 1 oz
- 2014 American Silver Eagle Coin 1 oz
- American Silver Eagle Coin 1 oz
- American Silver Eagle Coin 1 oz – Random Year
- 2014 American Silver Eagle Sealed Mint Case – 500 oz
- 2015 American Silver Eagle Sealed Mint Case – 500 oz
Chinese Silver Panda 1 oz
Canadian Silver Maple Leaf Coin 1 oz – Random Year
Austrian Silver Philharmonic 500 oz Case
Austrian Silver Philharmonic Coin 1 oz
This list covers most of what you are likely to hold in your precious metals backed IRA account.
Click here for an regularly updated list.What Companies can Help You Rollover your Gold IRA?
Basically, there are various specialized companies that will offer you expert services. Some of these companies include Regal Assets and SBC Gold. Regal Assets have the most reputation, the lowest (no-)fees and no customer complaints that we could find.
401K to Gold IRA Rollover: 3 Simple Steps
Rolling over your existing 401K account into new, gold IRA account is just as simple. The first step is having your IRS approved precious metal dealer contact your custodian and inquire about the possibility of adding physical gems to your portfolio.
In the case in which the custodians regulations do not permit such a transaction, your gem dealer can help you find keepers who specialize in gold IRA accounts.
Having done this and filling out the necessary paperwork, you may choose to roll over part or whole of your retirement funds to your new gold IRA account.
With the funds in place, it is now possible to purchase gold coins into the new IRA account.
This transformative process may require around 3 to 6 business days for all the necessary transactions to be completed. There is another, simpler way however, which you can read more about in the gold ira investing article.
It also takes a similar span of time for an entire traditional life-savings investment to devalue by half in the face of an economic meltdown. Take action today and safeguard your future with a gold IRA rollover.
Be sure to read these articles for more info: