Have you been starting to question leaving all of your money invested in the stock market? If anything is certain, it's that the stock market is known for its volatility. One day it seems like you're riding high, then the next the values of your stocks dip down or even take a drastic fall.
If you're tired of facing this uncertainty and are worried about leaving all of your money invested in stocks, it may be the perfect time to branch out and diversify your portfolio by investing gold and silver. When some of your money is held in precious metals, you'll be less impacted by a falling stock market, which should provide you with some peace of mind.
However, if you've thought about investing in precious metals before, you may have noticed that there are a ton of gold investment companies to choose from. Goldco is one of the top gold investment companies, and we'll share some information about the company and how investing in gold and silver or setting up a Precious Metals IRA works. Use this information to help you decide if Goldco is the right company to get you started on your precious metals investment journey
Goldco was founded in 2006 by Trevor Gerszt. Gerszt wanted to create a company that would help each client make sound financial decisions to set them up for retirement and future financial success. The company specializes in helping their customers rollover existing retirement savings accounts, set up new Precious Metals IRAs, or purchase gold and silver coins and bullion for personal collections or investments.
Goldco has earned an A+ rating from the Better Business Bureau and a Triple A rating from the Business Consumer Alliance. They also have very high ratings on various reviews sites like Trustpilot and Google. The company's high reviews and highly satisfied customers should help you feel comfortable choosing to give your business to Goldco and use them to help you invest in gold and silver.
Why Invest in Precious Metals with Goldco
There are a multitude of reasons to consider opening a Precious Metals IRA or rolling over an existing retirement account into one. If you have all of your money invested in the stock market, you are putting yourself at an increased risk of being heavily impacted by an economic downturn or a stock market crash. However, if some of your money is held in gold and silver, you will be less impacted by a falling stock market since you'll have your precious metals investment to turn to in a time of need.
Generally speaking, gold and silver are worth more when the stock market is not performing well. This makes them a logical choice to diversify a portfolio since you can be pretty confident that at least one aspect of your portfolio should be doing well at any given time.
Gold and silver also hold their value well over time. They are both popular precious metals that are in limited supply, making them very highly sought after. Gold and silver offer a variety of uses ranging from the obvious ones such as jewelry ones to less commonly known uses like for manufacturing new technology.
When you are ready to retire or need to cash in your investment, you won't have any trouble doing so with gold and silver. Because they are so highly sought after, you shouldn't have any trouble finding a buyer and receiving cash almost instantly. Consider how different this would be if you chose to invest in real estate or something else that was not so easy to liquidate right away.
The price of gold has grown at almost twice the rate of the stock market over the last 20 years. How big of an impact could growth like this have on your retirement?
Gold and Silver IRAs
Setting up Gold and Silver IRAs is one of Goldco's specialties. With a Precious Metals IRA, you can enjoy the tax benefits associated with a traditional IRA. These benefits include the ability to defer taxes, and the Retirement Savings Contribution's Credit (where you might be able to deduct part of your yearly contributions to your IRA). Some Precious Metals IRAs can also be passed down to beneficiaries without the need to pay inheritance taxes in the event of the account holder's death.
With a Gold or Silver IRA, you are able to hold your investments in precious metals, rather than in stocks and bonds as with traditional IRAs. This allows you to take advantage of all the benefits associated with diversifying your portfolio at the same time as you take advantage of the tax benefits of an IRA.
If you would like to set up a Precious Metals IRA with Goldco, you'll find that it is really quite simple. Start by visiting their website and completing the forms to open a new Gold or Silver IRA. Enter the information required by the form and set up funding for your account.
Once your account is funded, you can choose which gold or silver you want to purchase for your account. A member of Goldco's team will be available to walk you through the options and help you make the best investment decisions given your needs, situation, and goals.
Before finalizing which precious metals you want to hold in your account, determine whether you prefer coins, bars, or a mix of the two. Bars are a popular choice since they are solid gold and available in a variety of sizes. However, in some ways choosing gold or silver coins could be a better choice.
The value of a gold or silver bar will be based solely on the weight of the bar and the current price of gold or silver. Coins, on the other hand, could bring in more money that their value based on the price of gold. Some coins are often in greater demand or may be rarer, which could make their value increase.
Unfortunately, due to IRS regulations, there are some restrictions on the gold or silver coins and bars that can be held in an Ira. Gold coins or bars must have a purity level of at least 99.5% and silver coins and bars must have a purity level of at least 99.9%. Even with these restrictions, Goldco still offers a nice selection of gold and silver coins and bars that you can add to a Precious Metals IRA. Some of the available options include:
Silver IRA Coins
Goldco can also assist you in rolling over an existing IRA or retirement account into a Gold or Silver IRA. Since not all account types are eligible for a rollover, it may be a bit confusing trying to determine whether or not you can rollover your account.
If you have questions about your eligibility, visit Goldco's website to view the criteria for being able to rollover a retirement account into a Precious Metals IRA. If you still have further questions about whether you're eligible or how the rollover process works, reach out to a member of Goldco's team, and they can work with you.
If eligible, an IRA rollover allows you to hold precious metals rather than stocks or bonds in your retirement savings account. You'll continue to enjoy the same tax benefits as with your current account, but you can rest easier knowing that you're diversifying your portfolio by investing in precious metals.
Once the funds for Precious Metals IRA rollover are transferred, Goldco will help you select the right mix of gold and silver coins and bars for your account. They'll also work with you to get your precious metals stored in an IRS-approved depository.
Per IRS regulations, you must be at least 59 ½ years old to begin withdrawing funds from any IRA. If you need to make a withdrawal earlier than this, you will need to pay a 10% fee as well as income taxes on the money you take out.
You can continue making yearly contributions to your Gold or Silver IRA. Individuals under 50 years old can contribute up to $6,000 per year without being charged penalties, and individuals over 50 can contribute up to $7,000 each year without penalties. Keep in mind, however, that these numbers are the maximum combined total you can contribute to all of your retirement accounts, so if you hold other IRAs, you won't be able to invest $6,000 or $7,000 in each account each year.
Precious Metals IRA Storage
IRS regulations state that gold and silver held in Precious Metals IRAs must be stored in an IRS-approved storage facility. When you set up a Precious Metals IRA with Goldco, they help you set up secure storage at one of these IRS-approved facilities. They will also securely ship your precious metals to the depository, which means there will be one less thing you need to worry about.
Once you reach the age of retirement and are ready to begin taking disbursements from your account, you'll be able to do so. You can either choose to take disbursements in cash or have some of the physical coins or bars sent to you.
Other Investment Options
If you're looking to make a personal investment in gold or silver instead of or in addition to setting up a Precious Metals IRA, Goldco can also help you. They also sell precious metals directly to their customers. They offer a mix of gold and silver coins and bullion that you can purchase to hold at your home or set up another secure storage option.
If you are interested in learning more about the other gold and silver options offered by Goldco, complete the form under the 'Contact Us' page, and a member of the team will reach out to you to share more about the various investment options.
Resources for Investors
If you are trying to make the smartest investment decisions to benefit your retirement, Goldco's website offers a plethora of resources for investors. When you click on the 'Resources' tab at the top of the page, you'll see a list of the various sections that you can visit to learn more and prepare for retirement.
One of the pages offers the current precious metals prices. Using this page can help you keep track of trends in the prices to decide when you may want to begin investing. You can also use the information to see whether your investments are growing or decline based on the current prices compared to what you paid for your initial investment.
The website also includes various eBooks, videos, and FAQs designed to provide additional information to help each client understand how to be most successful with investing in gold and silver. Some of the eBook titles available for download include the American IRA & 401k Crisis, Retirees Guide to IRA & 401(k)s, How to Buy Gold and Silver, 10 Reasons You Should Start a Gold IRA, and 10 IRA & 401k Mistakes You are Making. A few of the video topics include How to Open a Gold IRA, Why Buy Gold, Stock Market Crashes, 5 Reasons to Roll Over Your IRA to Gold, and Can You Trust Mega Banks?
Request a Free Self-Directed IRA Guide
Goldco also offers a helpful Self-Directed IRA guide for potential investors. This guide shares some of the benefits of investing in precious metals. You'll also learn more about the various coins and bars you can hold in your account and what you should do when you're ready to get started and set up and IRA.
If you've been thinking about diversifying your portfolio by investing in gold and silver, why wait any longer? Goldco can help you prepare for a financially successful future by setting up or rolling over a Precious Metals IRA. Contact them today to get the process started!