I’m sure by now you do not need any more convincing on why you should own physical gold in your IRA account.
And by gold we do mean real gold bullion & coins that you can actually touch. So let’s get right into what you may not know and the best way to get going...
Monetary (paper) Gold vs. Physical (real) Gold
Purchasing gold funds, gold SPDR ETFs, gold related stocks or even buying gold through the foreign exchange markets are not recommended ways of investing in gold, simply due to the fact that these are monetary forms of investing. This means they are all tied to “paper” money, which is what you NEED to avoid.
There’s a world of a difference when comparing this to owning real physical gold that you can hold in your hands and put in your safe.
Reasons for investing in gold in the first place, are to get away from the risks involved with global economic unrest, the impending dollar devaluation or other currencies collapsing, as well as the stock markets vulnerability. In other words, the monetary system. Basically, anything that’s printed on paper, whether it be actual money or stock certificates, is at risk and can wind up being practically worthless in severe cases, and cannot be ruled out as a possibility because this has happened in the past.
A Real Life Example
Let’s walk through a hypothetical situation and say you buy gold related assets through a gold index fund or a gold related stock. This might be something like a gold mining company for example.
If and when the stock market crashes, the value of your gold related investment will also decline rapidly because the stock market as a whole will be in a free-fall. In this scenario however, actual gold (in it’s pure physical form) will be heading the opposite direction, going straight up gaining in value throughout this same crisis, because gold is a safe haven asset and whenever there is fear in financial markets everyone seeks gold as protection.
Gold has always been a safe haven hard asset and highly sought after commodity all around the world since the beginning of civilization no matter what the financial situation has been.
When there is economic instability historically people buy gold because it is a true asset that holds its value in weight. Increasing demand and the scarcity of supply continues to make gold the most attractive long-term investment in the new world, and even more so since the 2008 financial recession.
So how do I start a Gold IRA the right way?
You will first need to open a self-directed IRA with a trustworthy custodian. In some cases, the gold broker or dealer not only sells you the gold at the best market price but also serves as your gold IRA custodian. One such gold IRA company that provides all of these services under one roof is Regal Assets.
We are also continuing to recommend them again in 2014 due to their highest customer service ranking and quality of service. By offering everything you need in one place makes it very easy and reliable.
They’ll be providing you with the self-directed IRA paperwork and handle the necessary processing for you. They also provide storage services if you do not want to take custody of the precious metals yourself.
YOU MUST MAKE SURE YOU ARE PURCHASING ONLY IRS APPROVED PRECIOUS METALS.
Here are 3 other questions that you should ask when selecting a company to handle your gold IRA.
We’ve also done a full review of Regal Assets here.
For the following reasons below we suggest you give them a try and direct all of your questions to them. They’re known for going above and beyond with educating you and making you feel comfortable before investing. There is no pressure selling with them, another reason they get our praise.
So who are we recommending once again in 2014?