New Gold IRA
Individual Retirement Accounts are one of the most traditional ways in which Americans have saved for their retirement. Prior to the 2010 crash, IRAs were regularly contributed to by people, generally to the tune of up to $5500/year out of one’s own income as a way to help save against retirement, along with other savings plans and governmental aid. IRAs were not the only way to save for retirement of course, but they were an easy way to do it and since the traditional ones are tax deductible, the Roth IRAs are tax-free on withdrawals and you can do things like set up a spousal IRA or as an employer set them up on behalf of yourself and your employees, they were popular to use.
However, the crash of 2010 greatly diminished IRAs and also made it more imperative for people to find other ways, more concrete ways of funding their savings besides currency and paper and that’s where precious metals such as silver and gold come into play. Gold and silver, platinum and palladium have always been able to be added to investment portfolios, but with so much uncertainty swirling about currencies, economies and savings, they have taken on a new importance, as has diversifying one’s portfolio in any event. So how can you add Gold to your IRA and help strengthen it in the process?
Adding gold to your retirement savings plan is pretty easy and very beneficial. The simplest way to do it is to go through an IRA custodian who can purchase gold on your behalf and then convert it to cash, keep it in certificates or deliver your gold coins upon your retirement. You could purchase your own gold and store it yourself if you like, but then it won’t be considered to be a part of your IRA. If you want gold in your retirement account, then you have to go about it in just the right way.
Only certain coins and gold products are allowed to be used in your New Gold IRA.