Are you ready to open a Gold IRA and start growing your wealth? Gold IRAs offer the ideal opportunity to diversify your portfolio and protect yourself against stock market volatility. Goldco is one of the most-trusted names in the precious metals industry and is a top choice if you're looking to rollover an existing retirement account.
However, you may still have a few questions about working with Goldco before you decide whether they're the right company for you. One question that may be weighing on your mind is what type of fees Goldco charges for IRA customers. Well, if you're looking to learn more about Goldco and the fees they charge, you're in the right place. Continue ready to find the answers you've been searching for so you can decide if you're ready to start working with Goldco.
Goldco is one of the top precious metals providers, and choosing to work with them to open a Gold IRA would be a very wise decision. Trevor Gerszt started Goldco in 2006 to work with each client and help them learn more about the potential precious metals hold. He wanted to share valuable information to educate each client and empower them to choose the best investments based on their financial goals.
Goldco employs a team of knowledgeable and helpful precious metals experts. If you have any questions, whether about how the whole IRA set up process works or which coins or bars are the right pick for you, just reach out to one of these team members. They're always available to answer questions and offer advice.
Goldco is highly respected in the industry. They have hundreds of positive reviews from past customers on review sites like Trustpilot and Google. Reading through reviews from past customers is one of the best ways to get a full picture of what it will be like to work with any given company. Take a peek at these reviews, and you should quickly realize that Goldco is committed to its customers and offers amazing customer service.
Beyond the high praise that past customs have to share about Goldco, the company has also been awarded an A+ rating from the Better Business Bureau, the highest rating possible. The Business Consumer Alliance also gave Goldco their highest rating of AAA.
Understanding the fees that Goldco charges will help make sure you're informed and prepared as a customer. The company charges a $50 account set up fee. This is just a one-time fee to cover the work that your precious metals expert must do to get your account up and running and to ensure that the precious metals you selected are properly accounted for.
Additionally, Goldco charges two annual fees. The first is an $80 administration and maintenance fee. This fee is in line with what other companies charge and is even a bit cheaper than some. Goldco clients will also have to pay an annual storage fee. Goldco offers both segregated and non-segregated (co-mingled) storage options. The annual fee for segregated storage is $150, and the annual fee for non-segregated storage is $100.
There is also a $30 wire transfer fee.
Goldco requires a $25,000 minimum investment. If you have $50,000 for more in your account, the company will waive all the fees for your first year.
Why Invest in Precious Metals
You're probably already familiar with Gold IRAs, but if not, they are a type of Self-Directed IRA. With a Gold IRA, you're able to hold precious metals, rather than the traditional stocks and bonds, in your retirement account.
There are several benefits associated with opening a Gold IRA with Goldco. The first is that you'll also get to enjoy the advantageous tax laws that relate to IRA holders. Compared to investments purchased outside of a retirement account, the tax rules are much more friendly for those who open an IRA, which can help you to maximize your investments.
Another benefit of setting up a Gold IRA with Goldco is that you'll be diversifying your portfolio. With the crazy stock market right now, it isn't necessarily the best choice to keep all of your money invested in stocks and bonds. When you invest a portion of it in precious metals, you're more protected against large dips and crashes.
Throughout history, and to this day, gold has been a highly coveted asset. Numerous countries have based their monetary system on gold, and people all over the world continue to view gold as an excellent investment. Because of this, it is logical to conclude that gold will only continue to stay popular and a highly sought-after precious metal. It also means that gold is easy to liquidate. When you decide you're ready to cash in your investment, finding a buyer should be very easy.
Every year it seems that more and more uses for gold and silver are discovered. Both of these precious metals have been used in many technological advancements, and it seems likely that more unique uses will be discovered in the coming years. These additional uses will only add to the value of these assets, helping your investment grow.
Setting Up a Gold IRA
Helping their customers open Gold IRAs, or Precious Metals IRAs, is an area Goldco specializes in. If you're interested in opening a new Gold IRA, Goldco has worked to make the process as smooth and painless as possible. They'll connect you with a Gold IRA custodian who can initiate the transfer of funds from your existing retirement account.
Most account types, including Roth IRAs, 401(k)s, 403(b)s, TSPs, and pension accounts are eligible for a rollover. However, if you're not certain about the eligibility of your specific account, don't hesitate to ask a member of the Goldco team.
After the funds from your existing retirement account have made their way to Goldco, you'll be able to purchase the gold and silver coins and bars you'd like to hold in your account. We'll share more about the specific coins and bars available through Goldco, but there are several options to choose from. If you need help deciding which precious metals will best help you attain your investment goals, you can always chat with your account representative for suggestions and insights.
IRA-Approved Coins and Bars
As we mentioned above, Goldco offers a large selection of IRA-approved coins and bars. Based on IRS regulations, one cannot simply add any gold or silver to an IRA. The coins and bars must meet a minimum purity level in order to be eligible for a retirement account. Gold coins and bars must be at least 99.5% pure, and silver coins and bars must be at least 99.9% pure.
Within these requirements, Goldco is still able to offer a wide assortment of gold and silver coins and bars for their customers to choose from. Below are several of these coins that you may choose to add to your Gold IRA.
Gold IRA Storage
As mentioned above, the IRS does not allow individuals to act as the custodian for their own precious metals for an IRA. This means that you are not allowed to store the precious metals for your Gold IRA in your own home, or even in a safety deposit box at a local bank. Goldco offer three exceptional storage options for their clients: the Delaware Depository, Brink's Global Services, and International Depository Services Group.
These three depositories are all approved options by the IRS and offer top-notch security measures to protect your investments. From world-class vaults to a full-coverage insurance policy, your precious metals will be secure at any of these locations.
As shared above, you can choose from segregated or non-segregated storage options. With segregated storage, your precious metals are stored away from those of other individuals and will not be co-mingled. This helps guarantee that the precious metals you add to your account will be the exact same as the ones you withdraw when you're ready to retire. Non-segregated or co-mingled storage is another option to consider. While your precious metals will be stored with those of other customers, you're still guaranteed to get the same coins and bars back (but maybe not the exact pieces). For example, if you start with a Gold American Eagle Coin, when you remove your holdings from the depository, there will be a Gold American Eagle Coin in your package.
Free Silver Promotion
Goldco customers can benefit from their amazing IRA promotion. When you open a Gold IRA and rollover an existing retirement account, you can receive free silver. With a qualifying IRA, you can earn up to 10% back in free silver. With this promotion, you'll be able to receive up to $10,000 in silver, which can really enhance the overall value and diversification of your portfolio.
Is Goldco Right for You?
After reading about Goldco, the products and services they offer, and the fees they charge IRA account holders, do you think you're ready to get started with the company? Opening a Gold IRA will bring a wide range of benefits, from diversifying your portfolio, investing in a tangible asset, and enjoying the tax benefits that IRA holders receive. Contact Goldco today to learn more and set up your new account.