- 25 Apr 2023
- Precious Metals
- Comments: 0
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As a highly respected precious metals dealer, Endeavor Metals Group has built a reputation for providing exceptional customer service and expertise in the industry. With a wide range of investment options, including gold, silver, platinum and palladium, Endeavor Metals Group offers a diverse portfolio to meet the unique needs of every investor.
But don't just take our word for it – read on for our in-depth Endeavor Metals Group review, where we'll dive into the company's history, products and customer satisfaction ratings to see if it's the right fit for your investment goals.
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About Endeavor Metals Group
Endeavor Metals Group is a company that specializes in dealing with precious metals and IRAs. It was established in 2013 in West Palm Beach, Florida and has since grown to become a reputable player in the industry. The company offers a range of services to its clients, including precious metal investments, IRA rollovers and bullion purchases.
One thing that sets Endeavor Metals Group apart from its competitors is its management team. The company is led by experienced and knowledgeable professionals who deeply understand the precious metals market. This team comprises individuals who have worked in the industry for many years and have a proven track record of success.
In addition to its management team, Endeavor Metals Group is known for its customer service commitment. The company prides itself on providing its clients personalized attention and guidance throughout the investment process. This includes educating clients on the benefits of investing in precious metals and helping them make informed investment decisions.
Why Invest with Endeavor Metals Group?
Investing in precious metals is essential to diversifying one's investment portfolio. However, it is crucial to invest with a trustworthy and reputable company. That is where Endeavor Metals Group comes in.
Endeavor Metals Group is a member of leading industry organizations such as the Numismatic Guaranty Corporation (NGC), Professional Coin Grading Service (PCGS), American Numismatic Association Certification Service (ANAC) and Industry Council for Tangible Assets (ICTA).
Being a member of these organizations indicates that the company values ethical and professional standards. It also shows that they deeply understand the precious metals market and the latest trends and developments in the industry.
In addition, Endeavor Metals Group is BBB accredited and has an A+ rating, the highest possible rating from the Better Business Bureau. This accreditation indicates that the company is committed to resolving customer complaints and has a proven track record of customer satisfaction.
Moreover, Endeavor Metals Group has a 5-star rating on Google, with many customers praising the company for its excellent customer service, competitive pricing and high-quality products. The company offers a wide range of precious metal products, including gold, silver, platinum and palladium, of exceptional quality.
What is a Gold-Backed IRA?
A gold-backed IRA is a type of IRA that allows investors to hold physical gold or other precious metals as a form of investment for their retirement portfolio. In a gold-backed IRA, the investments are backed by actual physical gold or other precious metals, which means that the value of the investment is directly tied to the value of the precious metal itself.
This makes it a unique investment option not subject to the same risks as other investments such as stocks, bonds or mutual funds.
Setting up a gold-backed IRA involves opening an account with a company specializing in precious metals investments. The investor then purchases gold or other precious metals through the company, which are then delivered to a secure storage facility that the IRS approves.
Investor still has complete control over their investments. Still, they have the added security of knowing that their investments are backed by physical assets that can be liquidated.
Main Features of Self-Directed IRAs
Self-directed IRAs are a specialized form of retirement account that allows investors to direct their investments rather than relying on a broker or financial advisor to make choices for them. These accounts may be structured as either Roth IRA or traditional IRA, depending on the type of contributions and tax benefits desired.
One of the main features of a self-directed IRA is its flexibility in terms of investment choices. With a self-directed IRA, investors have many options for where to put their money, including alternative investments like real estate, private equity and precious metals.
This allows investors to design a portfolio that reflects their individual risk tolerance and investment goals rather than being limited to a menu of pre-selected options.
With a self-directed Roth IRA, investors make contributions with after-tax dollars, meaning that retirement withdrawals are tax-free. This can be a significant advantage for investors who anticipate being in a higher tax bracket in retirement than they are now.
Types of investments commonly used in self-directed Roth IRAs include stocks, bonds, mutual funds, ETFs and alternative investments like rental properties, private equity and crowdfunding ventures.
Traditional self-directed IRAs are structured differently, with contributions being made with pre-tax dollars. This means that investors get a tax deduction for their contributions but will owe taxes on withdrawals in retirement.
Common investment options for traditional self-directed IRAs include stocks, bonds, mutual funds, ETFs and alternative investments like real estate, private equity and tax liens.
Advantages of Owning a Precious Metals IRA
There are many reasons why owning a precious metals IRA can be beneficial for investors.
🟩 Control Over Your Investments
Traditional IRAs often limit your investment choices to stocks, bonds and mutual funds. But with a precious metals IRA, you can invest in physical assets such as gold, silver, platinum and palladium.
Having control over your investment means you can make informed decisions about where to allocate your funds based on your investment goals and risk tolerance. Unlike stocks and bonds, precious metals have an intrinsic value not influenced by market fluctuations or geopolitical events. This makes them valuable for diversifying your portfolio and protecting your wealth.
🟩 Tax Advantages
A precious metals IRA offers tax-deferred growth, meaning that investment gains are not taxed until the account holder withdraws the funds. This tax-deferred growth allows the investment to grow faster and accumulate wealth over time.
In contrast, investments in other assets like stocks and bonds are subject to annual taxes, which can eat the returns.
Also, a precious metals IRA offers tax diversification, essential in retirement planning. Individuals can diversify their retirement portfolio by investing in precious metals and spreading the tax burden across different asset classes.
For example, if an individual has a traditional IRA or 401(k) account invested in stocks and bonds, they can diversify their holdings by investing in a precious metals IRA. Tax diversification can protect individuals from tax changes and potential future tax rate increases.
🟩 Inflation Hedge
Inflation is a term used to describe the gradual increase in the prices of goods and services over time, resulting in a decline in currency's purchasing power. Inflation can have a significant impact on investments, especially those that are not capable of keeping up with rising inflation rates.
Inflation is a significant concern for investors who want to protect their wealth and maintain their purchasing power in the long term. Precious metals such as gold, silver, platinum and palladium are known for maintaining their value over time and have been used as a store of value for centuries.
When you invest in a precious metals IRA, you essentially invest in physical assets with intrinsic value. The value of precious metals is not directly tied to the performance of the stock market or the economy, which makes them an excellent hedge against inflation.
🟩 Profit Potential
Precious metals have a long history of retaining their value and, in some cases, even increasing in value over time. This makes them an excellent investment option for diversifying their portfolio and protecting their assets against inflation and economic uncertainty.
When investing in a precious metals IRA, the profit potential comes from appreciating the metals' value. For example, if the price of gold increases, the value of your IRA invested in gold will increase as well. This means that you have the potential to earn a profit by buying low and selling high, just like with any other investment.
🟩 Protection Against Market Crash
During economic uncertainty and instability, people flock toward safe-haven assets such as precious metals. This is because precious metals have a long history of retaining their value even during market volatility.
For example, during the 2008 financial crisis, the price of gold increased by over 25%, while the stock market dropped by over 50%. This shows that precious metals have the potential to act as a hedge against market downturns.
Investing in a precious metals IRA can diversify your portfolio beyond traditional assets such as stocks, bonds and mutual funds. This is because precious metals have a low correlation with other asset classes, meaning their prices do not typically move in the same direction as these other assets. For example, during a stock market crash, the price of gold may rise as investors seek safe-haven assets while the stock prices fall.
🟩 Estate Planning
When you set up a precious metals IRA, you can name your heirs and beneficiaries as the beneficiaries of your account. This means that when you pass away, your heirs will inherit the assets in your account. Because the assets in a precious metals IRA are held in a tax-advantaged account, your heirs can inherit the account without paying income taxes on the assets.
Precious metals have historically been a store of value and they can help protect your wealth from the fluctuations of the stock market and other investments. This can be especially useful if you are concerned about leaving your heirs with assets that may lose value over time.
Gold IRA Rollover
Gold IRA rollover is a process that allows individuals to transfer their retirement savings from a traditional IRA or a 401(k) plan to a self-directed individual retirement account (IRA) that allows investing in gold and other precious metals.
The process involves several steps and requires careful consideration of various factors such as the tax implications, fees and risks associated with investing in gold.
The first step in a gold IRA rollover is to open a self-directed IRA account with a custodian that specializes in precious metals investing. This requires choosing a reputable custodian authorized by the IRS to hold and manage IRA assets. The custodian will assist in completing the necessary paperwork and guide the types of gold and other precious metals that can be held in an IRA.
Once the self-directed IRA account is established, the next step is transferring the funds from the existing retirement account to the new one. This can be done through a direct transfer or a rollover, depending on the type of retirement account being transferred.
A direct transfer involves moving the funds directly from one custodian to another, while a rollover involves withdrawing the funds from the existing account and depositing them into the new account within 60 days.
After the funds have been transferred to the self-directed IRA account, the account holder can start investing in gold and other precious metals. This can be done by purchasing physical gold coins or bars from a reputable dealer or by investing in gold ETFs or mutual funds that track the price of gold.
It is important to note that investing in gold carries risks such as fluctuations in the price of gold and the potential for fraud, so it is vital to do thorough research and consult with a financial advisor before making any investment decisions.
In addition to the risks associated with investing in gold, there are tax implications to consider when doing a gold IRA rollover. Depending on the type of retirement account being transferred, taxes and penalties may be associated with the transfer or withdrawal of funds.
It is essential to consult with a tax professional to understand the tax implications of a gold IRA rollover and to ensure that all necessary paperwork is filed correctly to avoid penalties or fees.
What Types of Precious Metals Are IRA-Approved?
The IRS allows investment in four types of precious metals: gold, silver, platinum and palladium. However, not all forms of these metals are acceptable. For instance, only American Eagle and American Buffalo gold coins are approved, while Canadian Maple Leaf coins are not.
Similarly, only specific silver coins and bars such as American Eagle and Canadian Maple Leaf, are acceptable. The same applies to platinum and palladium, where the IRS only accepts specific forms.
In addition to the type of metal, the IRS also has specific purity requirements. For instance, gold coins must be at least 24 karats, while gold bars must be at least 99.5% pure. Silver coins must be at least 99.9% pure, while silver bars must be at least 99.99% pure. The minimum requirements are the same for platinum and palladium.
It's important to note that not all IRA custodians allow precious metals investments and those that do may charge additional fees for storing the metals. Furthermore, investors cannot take physical possession of the metals and must be held in a depository approved by the IRS.
When Can You Withdraw from Gold IRA?
One of the primary rules regarding withdrawals from a gold IRA is that the investor must be at least 59½ years old to withdraw funds without penalty. If an investor withdraws funds from their gold IRA before this age, they will be subject to a 10% early withdrawal penalty in addition to regular income taxes.
Another essential rule is that withdrawals from a gold IRA must be reported as income on an individual's tax return. Any funds withdrawn from a gold IRA will be subject to regular income tax rates, which vary based on an individual's income level.
It's also important to note that with a traditional IRA, investors are required to take minimum distributions (RMDs) once they reach the age of 72. However, with a gold IRA, there are no RMDs as long as the account holder is alive.
Endeavor Metals Group is a legitimate company with a good reputation among its customers. The company has high ratings and positive reviews on several platforms, including the BBB. However, better options might be available if one is looking for direct purchase of precious metals or IRA investments.
While Endeavor Metals Group offers precious metals for purchase, other firms specialize specifically in precious metals and provide better services. These firms offer more options for precious metals such as rare metals and have a better understanding of market conditions.
Our recommended companies are known for their expertise in precious metals investments and have been rated the best in the industry.
Similarly, for IRA investments, many other firms provide better services than Endeavor Metals Group. Our recommended IRA providers have a proven track record of delivering excellent investment services.
These companies offer a more comprehensive range of precious metals and investment options and more personalized support, which can help investors make more informed decisions.
If you are looking to invest, don't forget to checkout our highest recommended companies!
>> Click Here To See Our Top 5 Recommended Precious Metals Investment Companies <<
Currently our #1 recommendation is offering up to $10,000 in free silver!