Whether you’re 25 or 55, retirement should be at the forefront of your thoughts when it comes to getting your finances in order. With the days of steady pensions over and Social Security likely only to fund a portion of most people’s golden years, the burden of funding retirement is largely on the individual. Below are some basic questions about saving for retirement and information on how you can save for retirement with a Precious Metals IRA.
How much should I save?
When it comes to determining how much to save for retirement, there really is no, “one size fits all” plan that fits everyone. Generally, an individual should aim to put away at least 10 to 15 percent of income for a basic retirement. However, if the plan is to live a more lavish lifestyle, individuals should be aiming for closer to 20 percent or more. For a more specific idea of how much you should be saving for retirement, check out this Retirement Calculator from MSN.
Where should I save?
There are numerous ways to save for retirement and, again, different individuals will have different strategies. However, employer-sponsored retirement plans like 401(k)s or 403(b)s are a good place to start. If an individual doesn’t have access to these plans or the investment options are limited, a Precious Metals IRA Individual Retirement Account may be the perfect option.
Why a Precious Metals IRA?
Since they typically move independently of stocks and bonds, precious metals in an IRA can help minimize risk by increasing diversification, thereby improving performance. The forces that determine gold prices, for example, usually differ from and may even counter the forces that determine the value of many other financial assets.
Can any existing IRA account be transferred into metals?
Precious Metals IRAs are available in qualified Traditional, Roth, SEP, or SIMPLE plans, which enable account holders to contribute or transfer eligible retirement funds from existing qualified accounts, in whole or in part, into direct ownership of allowable physical metals to be held within the new Precious Metals IRA.
What other kinds of accounts are eligible?
Funds held in employer sponsored plans such as 401(k), 403(b), TSP, 457, pension, profit sharing, and other retirement accounts become eligible for rollover into a Traditional IRA in accordance with the rules that govern each plan, usually after service with that employer has ended or the account holder turns 59 ½. IRA Annuities and tax deferred annuities are also eligible.
Since direct transfers and rollovers from compatible, qualified plans are non-taxable events, protecting retirement funds in precious metals is simple and allowable under IRS code.
What metals are eligible for a Precious Metals IRA?
Let a Precious Metals IRA Specialist answer all of your questions with no obligation. We are passionate about safeguarding the funds that you have earmarked for your retirement. We know you recognize the importance of diversifying your investments to mitigate risk, and physical gold and silver are essential to that goal.
Call Capital Gold Group today and remember to ask about our $500 Cash Back offer with qualifying Precious Metals IRA purchases.