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Gold And Silver IRA: Precious Metals Self-Directed IRA Investing

Dec 17

Investing in precious metals with a self-directed IRA is a great strategy to help in diversifying your retirement portfolio. Whether you are taking a short-term or long-term retirement planning approach, gold and silver ira or precious metals IRA will give you the capability of holding an asset class that goes beyond the traditional financial markets. You can move just a portion of your retirement portfolio or all of your retirement dollars into a self-directed IRA to take advantage of investing in gold and silver as well as other precious metals like platinum or palladium. 

A gold and silver IRA is a self-directed IRA that invests in physical gold, silver, and other precious metals. Investors are not allowed to take physical possession of the precious metals in their IRA but these are stored with an approved depository. You need to find a trustee or custodian for your precious metals IRA and then buy the precious metals that need to be transferred to the depository in a way that your custodian can account for. Your self-directed IRA will attract higher fees than a traditional IRA or Roth IRA, so it is important to choose the right gold IRA company that will not charge any hidden or unnecessary fees.

Most investors like to diversify their retirement portfolios with precious metals because the asset class is part of tangible assets or alternative investments that offer a hedge against economic uncertainties. A self-directed IRA offers the control and flexibility that allows an investor to take advantage of investing in precious metals for an opportunity to diversify with these tangible assets, unlike traditional IRA or Roth IRA that will only limit you to invest in the financial markets for stocks, bonds and mutual funds. However, self-directed IRAs like gold and silver IRAs are recommended for savvy investors because the investor has to be in control to choose and make their investment decisions.