Gold IRA Rollover – Protecting Your Retirement Savings and Avoiding Tax Penalties
How often do you think about your retirement savings?
In today’s age it is easy to feel stressed and anxious concerning your future thanks to the shaky economy, volatile stock market, and the ever present threat of hyperinflation.
Having an IRA (Individual Retirement Account) that you know is safe and will never lose its value is just as important for your peace of mind as it is for your financial future.
What is a Gold IRA Rollover?
You probably know what a Gold IRA is; the name is pretty self-explanatory (It’s an IRA based on physical gold assets). But what does “rollover” mean?
And IRA rollover is when assets are “rolled over” from one IRA account, to you, then into another account.
Existing IRA –> You –> New IRA
This is different than a “transfer” which is when one account transfers assets directly to another, usually in the form of a check if physical assets aren’t involved.
What are the Advantages of a Gold IRA Rollover?
IRAs that are made up of physical gold bullion have several major advantages over other IRAs, especially ones that don’t have any physical assets.
Here are a few benefits of a Gold IRA:
- It isn’t government dependent
- Protects against hyperinflation
- Can’t be devalued by fluctuating currency values
- Has a much greater chance of gaining value rather than losing value
The rollover aspect is another major advantage as well.
You see, when you “rollover” your existing assets into a Gold IRA you’re able to do so without triggering any tax penalties.
There are a few stipulations however:
- Once started this must be completed in a 60 day time frame
- You can only do this with the same money once ever 12 months or you lose your tax deferred status for those assets
As you can tell, doing a rollover is much better than a transfer since you won’t lose your tax deferred status so long as you play by the rules.
Ultimately doing a rollover is the best method for converting assets in an existing IRA into a Gold IRA to ensure that your financial future is protected against hyperinflation, currency fluctuation, and more.
How to Do a Gold IRA Rollover
If you’re serious about protecting your assets for retirement then getting informed on how to do a Gold IRA rollover should be one of your top priorities.
The first thing you need to do is find a competent and trust worthy custodian.
A custodian is a company/organization that handles the following:
- Buying IRS approved gold on your behalf
- Setting up your self-directed IRA
- Stores the gold somewhere safe
- Helping you perform rollovers without having a tax penalty
There are many scammers and thieves out there when it comes to Gold IRA Rollovers…
…so it is very important that you find a custodian that has a good reputation and a history of faithfully serving their client’s individual needs.
If you’re ready to get gold level protection for your assets and secure your financial future my top recommendation is the custodian Regal Assets.
Regal Assets has been accredited by the Better Business Buaru since 2009 and scored a AAA, the highest rating from the Business Consumer Alliance consumer watchdog group.
Click Here for more information on how Regal Assets can help you rollover your 401k or other IRA into a safe and secure Gold IRA without receiving any penalty taxes.