Hello and welcome to Gold 401ks.org. Our goal here is simple – to inform people on how to convert their IRA or 401k to Gold. Another goal of that we have is to educate people on topics of gold, finance, and economics. Investors need to know that the value of paper assets such as those generally found in 401ks, Roth IRAs, or Traditional IRAs are vulnerable. When the United States was taken of the gold standard, the U.S. dollar has consistently depreciated over time. Doing this has caused the dollar to erode, which in turn erodes the value of our life and retirement savings.
Learn why you need to protect your retirement account from the volatile economy and stock market. If you have not already done so, complete the form for your FREE precious metals investment kit and the book Aftershock from Regal Assets.
Creating a gold 401k can be complicated for a person who is not familiar with the process. Those who are working for an employer may in fact not be able to roll over their funds into a gold 401k account until after having left work. However, what is important to realize is the fact that creating gold based IRA retirement account is easy to do. Regal Assets will do all of the heavy lifting! Following is some important information regarding investing in gold and creating (or rolling over to) a gold 401k.
Why Invest in a Gold 401k?
Many people do not realize that, over the last century, the dollar has lost more than 90% of its purchasing power. Gold, on the other hand, has continued to steadily rise in value over this time period. In fact, the price of gold is now six times higher than it was a decade ago. Needless to say, gold is a much more stable than the dollar or any other currency. It is also safer and has a higher chance of turning a profit than stocks, bonds, annuities and even real estate investments.
Gold, unlike paper money and investments, has intrinsic value. It has been around since the beginning of time and will be around long after paper currency has bit the dust. Many of the world’s wealthiest individuals have started to invest heavily in gold and many respected financial experts have gone on record stating that the value of gold will rise exponentially over the next couple of years.
Here is an article the outlines the numerous reasons why gold could hit $10,000 an ounce…
One reason why gold is so valuable is that there is only a limited amount of this precious metal. Paper investments can be created by one or more companies and paper currency can be printed at the government’s will but gold cannot be manufactured. This is why gold will always be valuable and the fact that more and more investors are choosing to buy gold will only serve to increase prices right now and in the foreseeable future.
How to Start a Gold 401k
A person who does not have a 401k account can easily start a gold 401k. The first step is to choose a good custodian, as an investor is not permitted to manage his or her own account. A good IRA custodian should have experience in managing gold and/or precious metals based accounts and should allow you to choose which storage facility to use and which forms of gold to purchase.
It should be noted that the gold in a gold backed IRA must be stored in an IRS approved facility. There are a number of these facilities to choose from and an investor, together with the custodian, should choose the facility that best meets his or her needs and budget.
It is also important to choose which gold dealer to work with. Make sure the dealer is bona fide and accredited with the Better Business Bureau, because there are a number of unscrupulous dealers online that have cost investors tens of thousands of dollars in losses. We at Regal Assets have a A+ rating with the BBB and abide buy highest of business ethics. We also have over fifty years of combined experience in the precious metals industry.
The gold dealer in question should also have the right type of gold, as not all forms of gold are allowed in an IRA gold account. Once you have chosen which dealer to buy gold from, you will need to turn your money over to the IRA custodian who will then purchase the gold of your choice and ensure that it is transported safely to your storage room.
Rolling Over a Gold 401k
Rolling over a gold 401k is not easy to do on your own, which is why it is a very good idea to work with gold IRA companies that have experience doing this type of work. A good gold IRA company is able to transfer the funds to a new account directly so that you do not incur any penalty fees for withdrawing money from your 401k account.
If you have have a 401k and are no longer employed by the company you set your 401k up with, the process of rolling over into a gold backed IRA is simple. If you choose to do so, you have the option of continuing to have your former employer and their custodian manage your retirement account. Off course If you do quit, your employed is no longer obligated to fund your 401k and you do have the option rolling over into your own IRA in gold account.