How do I qualify for a Gold IRA?
In order to be authentically eligible for owning a gold and silver-backed IRA, there is a set of essential and specific criteria that need to be met. Your gold coins and/or bullions have to adhere to the finesse and standards of the IRS.
Moreover, your gold must be kept with an IRA trustee and not with the owner of the IRA.
Plus, the gold you purchase will have to be stored in a depository that is approved by the IRS. You cannot store or keep your gold bars, coins, and bullions at your home.
Gold-backed Individuals Retirement Accounts appeal to investors who wish to have a more diversified investment portfolio.
And that is primarily due to the fact that Roth IRAs and other traditional IRAs depend on mutual funds and stocks – which are and always will be subject to market volatility as well as inflation.
And because the price of gold travels in the opposite direction of the dollar or any other paper currency or currency-based assets – including gold to your retirement portfolio grants you a powerful hedge against short and long term inflation.
This calculative and balanced strategy for creating a valuable IRA streamlines the risks involved, especially when you talk about the long-term, which inadvertently makes gold-backed IRAs an increasingly wise option for individuals investing in their IRAs.