HlMicc

Shop BEST SELLERS For Current Inventory Selections / Get Free Shipping On All Orders Over $500

PROS & CONS OF PRECIOUS METAL IRA ACCOUNTS

Share

Self-directed precious metals IRA accounts give you the opportunity to invest in a variety of assets, reducing your risk. You protect your wealth in an IRS-approved secure facility while hedging against inflation.

When you add IRA-eligible precious metals to your portfolio, those coins will remain in a depository rather than coming to you directly. See our guide on IRA-Eligible Precious Metals.

Knowing some of the advantages and disadvantages of these accounts can help you make wiser investment decisions.

goldBars

Pros of Precious Metal IRA Accounts

Precious metal IRA accounts offer the following advantages:

  1. They help you hedge against inflation because you’re investing in a physical asset.
  2. They help you diversify your investment portfolio.
  3. Precious metal IRA accounts are an excellent, stable wealth-building vehicle for a long-term investor.
  4. Precious-metal IRAs are low-risk.
  5. Precious-metal IRAs offer tax protections.

Usually, we recommend adding a precious metal IRA account to your investment strategy rather than using it as your only vehicle for wealth-building or retirement funds.

Cons of Precious Metal IRA Accounts

Precious metal IRA accounts offer the following disadvantages:

  1. They will never grow as quickly as riskier investments might.
  2. The logistical challenges of storing and insuring a physical asset like gold can result in higher account fees.
  3. Precious metal IRAs can be less flexible than traditional IRAs.
  4. When you turn 73, the IRS will force you to start taking minimum distributions from your gold IRA.

In some respects, a precious metals IRA acts just like a regular IRA in that there are tax penalties for early withdrawals.

Can you move previously owned precious metals into an IRA?

No. You may only move precious metals into an IRA by working with a dealer and a custodian, and the custodian isn’t going to take charge of the physical gold or silver you may be storing yourself.

In reality, it’s often a good idea to invest in both physical gold and precious metal IRAs. One exists to grow and protect your wealth. The other is a highly liquid asset designed to help you hedge against inflation, putting money at your fingertips whenever you need it, regardless of how the world economy or banking system is doing. 

Get Help from US Precious Metals Today

We are a reputable dealer of IRA-approved gold and can help you open a precious metals IRA account. Contact one of our specialists to begin your free consultation today.

WANT MORE INFO? WE’VE GOT A RESOURCE FOR THAT.

Money
Investment Guide
Book
Glossary

Our site is currently undergoing maintenance. For purchasing or additional information please call