Precious Metals, like real estate, can be a viable option for a self-directed retirement plan.
The Tax Payer relief act of 1997 made it possible for precious metals to be held in a self-directed IRA.
As with every investment strategy, there is a reason our clients choose precious metals as part of their portfolio.
Those who buy gold, silver or platinum/palladium are betting on the market declining and on the economy both in the U.S and globally.
The bet is that, eventually, everything will go up which could cause inflation. Precious metals are considered a hedge against inflation and many believe that the safest investment in uncertain times is gold.
Some investors believe that gold or silver may be the only currency option available to spend in the future. They think that the dollar and other currencies will become worthless. Whatever you believe is up to you. That is the beauty of true self-direction. Your vote on your money is the one that counts. That being said, performing due diligence, when and how you buy your precious metals, is up to you as the IRA owner. We at IRA Innovations strictly facilitate your transactions so you can add precious metals as a part of your diversification plan.
The process for buying precious metals with your self-directed IRA is simple:
1. Establish an account with a self-directed administrator; that’s what we do at IRA Innovations.
2. Buy gold or precious metals (make sure it is the right kind of metal approved by the IRS. If in doubt, contact us or visit www.irs.gov). IRA Innovations will work with your precious metals dealer.
3. Store the metal in a Vault or depository. Note that there are separate depository fees for storing precious metals. The IRA holder chooses the depository where they wish to have their metals held. We do not store the physical metal.
We at IRA Innovations make no investment decisions or give investment advice. At times, I repeat this phrase for a reason. A truly self-directed IRA is guided and invested in by you. We follow your wishes. We are a third party administrator who is disqualified by the IRS from giving out any investment advice. We always suggest that, when in doubt, seek advice from an attorney, CPA or financial advisor of your choosing.
The gold rush continues. Are you on board? Contact us at [email protected] for more information.