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Choosing the Right Company

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Originally Posted On: https://goldira.company/choosing-the-right-company

 

You should do some research in investigating the best IRA rollover investment company to fit your needs. A number of firms will offer to open your gold IRA rollover, but not all are created equal. Before making your decision, there are a few things to consider.

1. Read Customer Reviews

You want to look for a company that has experience in the gold IRA rollovers market and has the testimony of previous or current customers to back up their ability to invest wisely. Visit sites such as the Better Business Bureau, TrustLink, and the Business Consumer Alliance to evaluate the track record of a company. The firm you select should have a good rating among consumers and be in good standing with consumer protection agencies.

2. Contact the Company

Inquire about the firm’s policy regarding gold buy-back. They should be willing to offer you a fair market value for your gold assets if or when you decide to sell them. IRA companies are a business and exist to make money. Like all businesses, some are better than others are at looking out for their clients. Be sure that you are comfortable with their policy before committing your valuable retirement funds.

You are not required to withdraw money from your IRA in cash. If you so choose, you can request that your gold be shipped to you. It is important that the trustee you choose is forthcoming and has the ability to honor your request.

3. Gold Types Included

The company must be able to invest your money in the form of precious metal you prefer, whether it is bullion or coins. The IRS only approves certain types of bullion or coins for investing in tax-deferred or post-tax retirement accounts. The IRS approves gold, silver, platinum, and palladium bullion or coins. Some of the approved gold coins include the Chinese Gold Panda, Canadian Gold Maple Leaf, Austrian Gold Philharmonic, and American Gold Eagle.

 

Some salesmen will attempt to persuade you into buying collectible gold coins or other coins that they claim offer a higher return on investment. This is a huge red flag and is cause for you to search for another investment firm. You should never feel pressured into making investment decisions. Sometimes it is easy to spot these high-pressure tactics by viewing the firm’s customer comments. It is common for customers to complain about this type of approach.

4. Storing Your Gold

Your custodian of choice should be able to assist you with a facility to store your gold. Some have their own secure storage and others have contracts with reliable storage facilities. The way your gold is stored will require its own fees in regards to administration and insurance. Your gold should be stored “in custody” and not as a deposit subject to the creditors of the storage facility. This is to safeguard your investment in the event of negligence on the part of the facility’s staff or ownership.

You will want to find a company that charges a flat fee for the storage of your gold. Be sure to investigate hidden fees that grow because of the size or value of your assets. In this type of tiered system, you could easily find yourself paying thousands of dollars per year in higher percentage charges. It is best to shop around and secure a flat storage fee in a contract with a company that includes administration fees for the first year or two. Choose a firm that charges a reasonable flat fee regardless of the amount stored.

Facilities that only hold precious metals such as gold are not your average bank. They typically have high-tech security systems including 24-hour surveillance, timed locks, sound, motion, and vibration detection. These facilities are also heavily insured against fire, theft, floods, or other damage. Your facility should be IRS-approved for all types of precious metals. Such facilities include JP Morgan Chase Bank, HSBC Bank USA, Brink’s, CNT Depository Inc., and Delaware Depository Service LLC.

Utilizing a gold IRA rollover is a safe alternative to other investment vehicles. You can rest assured that you have made a wise investment. Just remember that it is important to choose a firm that is reliable and trustworthy in protecting your assets.

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