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3 Things to Know About Your Gold IRA Rollover

An IRA rollover is a great way to diversify your investments, but there are a few things you should know about rolling over a portion of your IRA.

As you consider which IRA is best for you, a self-directed IRA should be on your radar. A self-directed IRA allows you to invest in assets that standard IRAs don’t allow, including physical gold.

Here are a few things to know if you are creating a financial strategy with a Gold IRA rollover.

1. You’ll need an IRA custodian

Every IRA is required by law to be administered by a custodian. An IRA custodian is a financial institution that holds your investments — under your name — in order to ensure that all IRS and government regulations are adhered to.

At Gold Alliance, we work only with IRA custodians who specialize in self-directed IRAs, which are the only type of retirement account you can hold precious metals with. To ensure the highest security and the best experience, we have chosen to recommend STRATA Trust, Equity Trust, and Goldstar Trust as custodians. We are convinced that working with these custodians will give you peace of mind because they administer your IRA correctly to comply 100% with the law.

2. Choose secure storage for the Gold in your IRA

If you have a Gold IRA, the IRS requires you to store your gold in a regulated depository, like the Delaware Depository

When you open your Gold IRA, your gold must be stored at an IRS-approved depository. The IRS has created this rule in order to ensure that your precious metals are accounted for because you’ll be receiving tax benefits from your IRA, either when you take distributions or make contributions.

What are the benefits of storing gold in a depository? These depositories are insured and highly secure. If anything happens to your investment while in the depository, the depository itself is responsible for your loss. This gives you an added layer of security on your investment.

Additionally, depositories offer an optimal environment for gold and other precious metals. They are climate- and moisture-controlled.

Find out more about storing your precious metals in a trusted depository here.

3. How to find the best gold dealer for your Gold IRA

When it comes to finding the best gold dealer for your Gold IRA, it’s essential to read online reviews. Finding third-party portals like BBB and Google Business reviews will give you a more accurate sense of how the gold dealer runs their business and how they take care of their clients.

In addition to reviews, it’s also important that your gold dealer can answer all of your questions without giving you the runaround, especially before you’re even a client.

Never hesitate to ask questions like “Do you (the dealer) invest in your own products?” “How do I insure my precious metals?” and “How much of my portfolio should I roll over into a Gold IRA?”

The last question is one of the most important ones you can ask. While you can technically roll your entire portfolio over, a reputable dealer who cares about your investments will typically recommend you rollover around 30% of your portfolio into gold. Going too aggressive on gold puts you in the same position with your investments as going too much into dollar-denominated assets like stocks and bonds. A strong portfolio is diversified, and a reputable and trustworthy gold dealer will tell you that.

Here, at Gold Alliance, we work to help our clients achieve their investment goals. We know there is value in other asset classes, and the true way to protect your financial future is a well-diversified portfolio with gold.

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