How to Transition from a Traditional IRA to a Precious Metals IRA
Plus, Why Transitioning is Such a Good Thing to Do Today!
The first thing you need to understand when it comes to transitioning from a traditional paper-based IRA to a traditional precious metals IRA is that in most cases it is a quick, easy, seamless transition.
One thing that you may notice right away when you have a precious metals IRA is that you now have a tangible asset or a physical currency in your retirement account instead of a piece of paper or a promise to pay.
There are also no transfer fees or other tax consequences that come from transitioning from a traditional IRA to a precious metals IRA.
In other words, transitioning from a traditional IRA to a precious metals IRA offers a number of positives and no real negatives.
So Why Would Someone Want to Transition from a Traditional IRA to a Gold and Silver IRA?
There are a number of reasons actually.
The Wall Street Journal recently reported that “The average person age 60-62 with a 401k account has less than one quarter of what is needed to maintain their standard of living.”
In many cases it’s not the individual’s fault – many saw years of saving wiped out by the 2008 financial crisis.
Diversification into gold and other precious metals now could help protect you against similar crises in the future.
These Are Difficult Financial Times …
We’re living at a time when the U.S. dollar has lost value for 40 years and now has just 20% of the purchasing power it had in the 1970s.
At the same time the value of the dollar is declining, the real estate market is also down, stock and currency investing is turbulent and experts are saying that we can no longer rely on Social Security or the government to take care of us when we retire.
Meanwhile, while all the above negatives continue to pile up and paint a bleak financial picture, the price of gold (and many other precious metals) continues to stay strong and countries like China and India are stockpiling gold with an eye toward the future.
Here Are Some Benefits of Investing in Gold:
- Gold prices have trended upward for the past 10 years and experts expect them to continue rising – in fact, many experts now believe gold could reach as much as $5,000 or even $10,000 an ounce at some point!
- The value of gold has remained steady over time – for example, gold 100 years ago would have bought the same amount of goods as gold today … this makes gold a safe haven against inflation and financial crises!
And Here Are Some Benefits of Investing in Silver:
- Following a recent consolidation period, experts are now saying that silver is poised to rise quickly in price. Many are predicting its price could reach as much as $50 an ounce.
- Silver that is used in industrial applications cannot be recovered.
- Silver supplies are dwindling. In fact, Scientific American has predicted that should production levels remain the same, all the silver in the world will be used up by 2029.
Whatever Precious Metals You Choose to Invest in, You Will Also Enjoy These Benefits:
- You’ll get to maintain physical possession of your coins
- You get to avoid all those costly brokerage fees that commonly accompany stock investments
- You diversify yourself against the risks of investing solely in stocks, bonds and mutual funds
In light of all of this, it’s no wonder that many experts say that investors should put at least 10% to 30% of their retirement funds into precious metals like gold and silver.
To learn more about the transition process and the differences between traditional paper-based IRAs and traditional precious metals IRAs, please contact RC Bullion at 213-465-4835
