Imagine yourself sitting on an IRA that is backed by gold, and instead of the usual coins you would find in it, there’s peace of your mind. What a gold backed IRA has to offer is peace ofmind. This is like getting your cake AND eating it – both financial security and precious metal. Trustworthy gold backed IRA reviews can help you choose the best investment company.
What are the benefits of a gold backed IRA first? Simple. Diversification. Stocks seem great until you don’t. Property is great until the crash. Gold? The ancients traded silk and spices for gold. Since ancient times, it has offered stability and security when other investment options have been in flux.
Diving into the golden pool online isn’t quite as easy as it used to be. What you’ll need to do is know how to get started and where to go.
**Reputation Matters**
If you were to buy sushi, it would not be at the gas station. You shouldn’t choose just any gold-backed IRA company. Choose firms with excellent reputations. Review online reviews, post in discussion forums, and even ask your uncle, who is always well-informed about finances, for his opinion.
Augusta Precious Metals (or Goldco) have built up a good reputation. These companies have solid track records, and positive customer feedback speaks louder to their success than the best rock concert.
The silent Wallet Stainers – Fees
Talk money. Specifically, fees. It’s easy to be caught by surprise. Some companies charge set-up fees, storage charges, management costs… You get the idea.
Check all costs up front. Do you want to know the cost of your membership? Ask like a detective in a crime thriller: “What are the fees?” There are hidden charges? It’s best to leave the room if you notice that they are stammering and giving vague responses.
**Storage Solutions**
Where is your gold hiding? The answer is not under your mattress. (Although, it may make for a fun conversation starter). The IRS has approved safe depositaries where you can store precious metals.
Think Brinks Depository or Delaware Depository. Both are Fort Knox levels of security, without having to be Fort Knox. There are segregated facilities that keep your gold separate from other metals.
**Buyback Programs**
Sometimes cash is more important than shiny bar of metal. The buyback program comes into play. The best companies offer reasonable prices for gold if and when you decide to sell it back.
Check their return policies before signing any documents that are more restrictive than grandmother’s knitting.
**Customer Service**
How about trying to contact someone via an automated system? This is frustrating to say the least! It’s important to have a human touch when you are dealing with something that is as vital as real retirement savings.
You should choose companies who provide excellent customer care. Real people will answer the phones or emails without making it seem like you’re speaking to a Karen.
*Flexibility Is Key**
It is like trying on jeans. No two investors will be alike. Some prefer gold bullion and others favor coins for their collector value as well as pure investment reasons.
Consider firms with a wide range of services so that you may tailor the package to suit your needs rather than be forced into a pre-set plan which could leave more behind.
We’re done! Investing into gold-backed IRAs is not rocket science. Just remember to stay vigilant and follow the above-mentioned key points. You will be rewarded with a journey filled with glittering opportunities.