subject: How to Invest in Precious Metals with a Self Directed IRA [print this page] Did you know that your self directed IRA offers tax-deferred or tax-free profits, compound interest, and large tax deductions? The chances are that you probably did. These benefits are the cornerstone to a good retirement plan.
Secure Future Wealth and Invest in Precious Metals
You can diversify your portfolio with a wide-ranging list of assets such as oil and gas, livestock, structured settlements, real estate, tax liens, and much more. You can even invest in precious metals that include:
Gold Bullion
Platinum Bullion
Silver Bullion
Palladium Bullion
Some Coins
7 Steps to Investing in Precious Metals
1. Find a custodian that specializes in self directed precious metals
2. Transfer or roll over if necessary
3. Pay fees for storage of precious metals
4. Purchase from a broker or dealer of your choice that deals in minimum fineness requirements as established by the IRS
5. Carefully review the broker's invoice before signing
6. Ask your passive custodian if you have any questions
7. Forward the paperwork to your custodian
It really is that simple. With the right administrator, you should not have to be overly concerned that the account is being administered correctly; however, there are some things to look out for when you decide on your custodian, though.
Things to Look Out for When You Decide to Invest in Precious Metals with a Self Directed IRA
With some SDIRAs, you may be lured by low maintenance or transaction fees only to be sideswiped with an onset of hidden fees. Make sure your account has an all-inclusive annual fee. This will prevent any unexpected expenses if you decide to buy or sell.
If you are investing in precious metals, look for a flat fee for the storage. (It's important to note here that this type of investment must not be in your physical possession according to IRS rules.) In addition, check on the credentials of your depository service. It should be nationally recognized.
Do they have a comprehensive "all risk" storage and shipping address covered by insurance?
Are coins segregated and securely stored according to type and year for accurate reporting?
Is there any personal information included in the depository or has your privacy been protected?
It's also an additional benefit when you can manage your account online with quarterly statements that you can actually decipher and make sense of.
With an Equity Trust Self Directed IRA you're able to invest in precious metals and you'll receive knowledgeable support for the unique requirements of this investment type.
How to Invest in Precious Metals with a Self Directed IRA
