Even a financial advisor who only charges fees is likely to be between 1 and 3%, much lower than the fees associated with an employer-based 401(k) plan. A normal IRA contains paper assets, while a gold IRA holds physical precious metals in the form of coins, ingots, and bars. You own the physical gold and silver in an IRA, but the precious metal coins and bars can only be held by the IRA trustee and not by the owner of the precious metals IRA. In addition to protection from government seizure, physical gold such as bars is also much more secure than cash from seizure or confiscation by creditors. Although gold and silver coins, many of which feature iconic designs, are more attractive from an aesthetic point of view, they tend to be a less efficient investment in precious metals than gold and silver bars.
On the other hand, in a direct transfer from an IRA, funds are moved directly from one account to another. If you answered yes to any of these questions, you should consider transferring your 401(k) account to a gold IRA. You can buy physical precious metals such as gold and silver coins, bars, and ingots and store them securely in an IRS-approved depository. These gold IRA companies have earned excellent ratings and positive customer feedback, have transparent pricing policies, and want the best for their shareholders. Not only can someone research different gold or silver bar dealers, but they can also research and compare different IRA custodians or trust companies.
However, if you are still employed by the company that offers the 401k plan and you are 54 years old or younger, you may not be eligible for an “in-service retirement” without incurring a tax liability. The American Hartford Gold virtual catalog does not provide pricing information, which can be inconvenient as you will have to call their hotline individually. Then send the necessary documentation to the 401k plan administrator and the gold IRA provider of your choice. The term “gold IRA” is a generic term used to describe an IRA that contains any physical investment in precious metals. This family business is your best chance to invest in gold and silver in precious metal IRAs or outside of an IRA.
In addition, physical gold is a financial asset that is much less vulnerable to theft, possible government confiscation of funds, or possible seizure by creditors. The easiest way to transfer funds from your 401k account to your new gold IRA is through a direct transfer.
