Gold 401k – Why, What, And How To Do It
When looking at the fluctuations in the world markets, it is perfectly understandable why so many people retreat to gold as a way to ensure their future retirement funds. Perhaps you already have a retirement account. Did you know you could convert your retirement funds into a Gold 401k account and have that same reassurance?
There are many misconceptions when it comes to retirement plans. Some believe that they can only have one retirement account such as a 401k or a Roth IRA or even Gold IRA. The truth of the matter is that you can have a wide variety of these accounts and you are not limited by how much money can be in each one, you are however limited to how much you can contribute to each one per year.
Why Invest In A Gold 401k Account?
Even when things start looking bright for the Euro zone or even the United States, there is something that seems to drag the markets back down again. Yet despite this, Gold has remained relatively stable and only been going up for the past 10 or more years. Of course, gold has been experiencing some pull backs in price over short periods, those are to be expected, but the trend is clearly going up with no end in sight.
Now, you may think that if there is not much risk in buying gold, then, there could not be much of a return on this investment over time. In some cases, I would say you would be right. However, as you may also know, where there is risk of reward there is also equal risk to lose everything. So, if you should lose everything, would that risk be paid off? Most certainly not. Securing at least some of your retirement funds in a gold retirement account is truly the safest way to go.
How Much Are You Willing To Risk And Invest?
How much you wish to invest would be dependent upon the risk you are willing to have in your portfolio – the more risk you want the less gold you would buy and vice versa. At least you should know how much you could live on for so many years so you would be able to plan out these percentages. Relying on just a financial advisor may not be the way to go. Becoming financially literate would help you out tremendously as you can use that knowledge for just about every major decision.
Most of the time, those who are interested in gold IRA investing already have a 401k or other retirement funds. So then, the question comes up as to how to move the money from one fund to another. Well, this is where the folks at Regal Assets come into play. They are very experienced and know exactly what to do in this case. Plus, there is nothing stating that you cannot just start a Gold backed IRA and then transfer the funds over when you see fit.
Regarding Gold 401k Transfers And Rollovers
Gold 401k transfers, rollovers, and other forms of buying gold have different tax implications. It is important you seek out the advice of a good tax advisor or tax lawyer to make sure you are above board. The worst thing to happen is that you find you owe the IRS some money because you made a mistake in your desire to start an IRA. However, most of these mistakes can be prevented by those who are experienced in this so you really have very little to worry about.
Being clear about what you need to do and worry about is something that only someone who is experienced and trained in dealing with the laws and pitfalls in the IRS tax system can do. Those that are worth their weight in gold, excuse the pun, will charge a lot of money but they will in turn be able to save you a lot of money. Disregarding this one aspect is something that causes a lot of people to regret a financial move in the future, truly this one bit of advice could save you a bundle in the future.
The total amount of time to make a transfer or whatever is the time it would take for you to fill out the forms needed and either mail it back to the head office or fax them back. Clearly, when dealing with something as sensitive as your future retirement account, you want to rely on someone who has the experience to handle just about every situation.
Which Kind Of Gold Is It Best To Invest In?
But why go with physical gold 401k in the first place? Why not just use a gold ETF as they are the same, right? Actually, nothing could be farther from the truth. A gold ETF invests in gold mines, gold refineries, and other aspects of the whole gold buying and selling market. Those ETF’s then are subject to market whims, political instability, and even some corruption by the board and other members of the fund. Quite frankly, you are not going to be any better off with an ETF than if you would invest that money into a money market fund or something similar.
Physical gold is certain as it does not have any ties to fiat currencies; it has been used as a standard of payment since the founding of civilization. As well the amount of physical gold that is mined each year goes down as we keep finding and exhausting various gold mines.
But gold is not the only resource you can choose to invest in. Rather, you can also choose to invest in Silver, Platinum, and Palladium as those three resources are also used as valuable commodities around the world. To do this, you would need to go with a trusted source, such as Regal Assets, as they have been in business for a significant amount of time. Plus, they don’t just serve those who want to invest in gold – they specialize in serving retirees who want to have Gold 401k plans.
But what about Regal Assets’ reputation in the market? Currently, as of the time this article was written, they have an A+ rating from the BBB. While some may scoff at this to me, this does not understand how true customer service works and how much effort Regal Assets is putting into making sure each customer is satisfied with their retirement fund.