Should You Be Buying More Gold For Your Gold IRA Portfolio In 2014?
With your gold IRA investment, you have made the right choice. This market is full of uncertainty and the US dollar is soft, even though it may experience occasional periods of strength. Anyone looking at the long term, like you, wants to possess assets that are known to defend their value against such widespread economic weakness.
However, you should ask yourself right now if your gold retirement plan is adequate. Every investor chooses how much of his or her portfolio to devote to gold. If you read some gold IRA reviews and talk to certain gold IRA custodians, you will hear that you cannot put enough gold in your account at this point. They are the people most deeply concerned about the path of the present economy.
Most importantly for their long-term plans, they do not see how the currency of this economy can recover. One way to survive any truly difficult and world-changing events with your finances intact is with a gold IRA investment. Any assets presently in your portfolio that will not stand the kinds of economic currents potentially coming our way might as well go overboard and be replaced by gold.
Advantages That Come with Gold Investing
There are a lot of potential benefits in a gold IRA account that is heavy with this precious metal. The greatest advantage is well-known to everyone. Gold is an excellent hedge against inflation. With a lot of gold in your gold IRA account, you can rest assured that your wealth will, at the very least, keep up with inflation.
If you want to see evidence of this, look at the way that gold has performed since 2001. It has almost quintupled its value. While inflation has certainly occurred since then, it has not cut the US dollar’s whole value by so much. People who were strongly invested in gold and were wise enough to hold on to it are now very pleased with their patience.
A Gold IRA Portfolio in a Foundering Economy
There is more to gold than just hedging your money against inflation. This precious metal, along with all the others, is also in demand both commercially and in industry. Bits of gold are critical components in variety of computers and in most mobile devices. Since these items are just gaining popularity by the day, you can easily imagine that there is a need for gold that will continue to support the present high prices.
The Best Gold IRA Custodians
Even if you are moderately pleased with your gold IRA account, you should consider whether or not you have a good custodian. If you created your account a long time ago, you may now be aware that there are numerous gold IRA companies now.
In the past, when an IRA had very limited opportunities in precious metals, even so-called gold IRA custodians did not differ very much from any run-of-the-mill custodian. Now, however the top gold IRA custodians can offer you a wide variety of gold products. These include stock funds based on gold as well as actual funds invested in physical gold bullion.
Among the top gold RA companies are names such as Regal Assets, American Bullion and Lexi Capital. You can find many others when you look for these terms on the Internet. Compare and contrast them using sites such as the Better Business Bureau and Trustlink.
The Gold IRA Rules
If you review other custodians and feel like you would be better served with another gold IRA company in charge of your account, then you should not be afraid to make a gold IRA rollover. Some people are under the mistaken impression that they cannot get out of their present IRA without an incredible amount of effort tor without paying heavily in the form of taxes and fines.
Actually, the best gold IRA custodians can help you make the gold IRA rollover without suffering any penalties or losing any of your accumulated wealth. They can make sure that your money is transferred smoothly from your old account into the new account. Hopefully, after the transfer, you can begin investing in gold the way that you want. You can do much more with your gold IRA than you could years ago.
Adding Gold to Your Gold IRA Account
If you choose to add some more gold to your account now, you have a lot of selections. The best gold IRA companies will let you know that investing in gold bullion is probably the best way to go right now. There is such variety in gold bullion products that you can create a very diverse portfolio just investing in this area.
To begin with, there are numerous American gold coins. The American Gold Eagle is sold in multiple sizes. This coin has a fineness level beneath that of many gold coins produced by major mints around the world. However, the copper and silver added to the alloy make the coins very resistant to defects and other forms of wear and tear.
The US Mint also produces the American Gold Buffalo. This coin was designed to emulate the high-fineness coin minted in Canada. It has a .9999 fineness level, which means that it is entirely pure and essentially contains no base metals.
Another new option in gold IRA investing is the opportunity to buy foreign coins. Now you can invest your retirement funds in Canadian Gold Maple Leafs and Austrian Gold Philharmonics. You can also buy gold bars from the top gold IRA companies.
Teaming Up for Gold IRA Investing
Another way to take advantage of the new opportunities in gold IRA investing is by teaming up with your spouse. If he or she does not have a gold IRA, you can arrange for a gold IRA rollover. In fact, you can even do this if your spouse has a 401k. This can compound the saving power and potential for increased returns in both of your accounts.
Gold investing with your retirement funds is smart. This solid asset is the best item in a portfolio made to ensure hard times.