Investing in a precious metal IRA is a great way to diversify your retirement portfolio and protect your savings from inflation. While IRAs were once limited to holding American Eagle gold and silver coins, today they can invest in gold, silver, palladium and platinum ingots and coins allowed by the IRS. You can buy gold coins and ingots made of gold, silver, palladium and other precious metals that meet certain fineness requirements with your IRA.A precious metals IRA is simply a traditional, ROTH, SEP, SIMPLE, cumulative, or inherited IRA that holds precious metals and can include gold, silver, platinum, or palladium. When you choose an accredited custodian and storage, you can be sure of the safety of your IRA's precious metals.
Opening a self-directed IRA and investing in precious metals is a little more complicated than opening a traditional IRA or a Roth IRA.If you have a precious metals IRA, your IRA directly owns ingots or physical coins that you select and apply for directly. Depending on your financial situation, most experts recommend that you invest no more than 5 to 10% of your retirement funds in precious metals. If you are not satisfied with your storage facility or with the fees charged, you can move your precious metals to another storage facility.Those who have their entire portfolio based on precious metals, such as physical gold, run a small risk of losing part of their investment in the future. However, there are specially designed precious metal IRAs that allow you to invest for retirement using gold, palladium, silver, and other valuable metals.
If your goal is to increase your retirement funds, you should also consider purchasing other assets besides precious metals.This is a family-owned investment company that offers many investment opportunities to investors, including physical precious metals and IRAs. Also, remember that precious metals such as gold, silver, platinum, and palladium may not work as fast as stocks, for example.