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Discover how American investors are safeguarding and securing their retirement savings with physical Precious metals
Watch the next video in the 401(k) series
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Inflation is rising in America just like it did in the 1970s
Even the US Fed is acknowledging that “transitory” Inflation is going to be more persistent than expected
Concerned investors are hedging their retirement savings with physical Precious metals
Gold price vs Inflation
From 1963 to 1980, the price of Gold increased by 1600% and Silver prices increased by 2700%
Smart investors today are seeking a hedge from Inflation and asking:
Can I buy Gold with my 401K?
Can I buy Silver with my 401K?
The answer is, “Yes!”
You CAN use 401K funds to safeguard and protect your retirement savings with physical Precious metals
Can I use my IRA to buy Gold?
An IRA or SEP-IRA can be used to buy Gold
In fact, all of these tax-advantaged retirement savings accounts can be transferred into a Precious metals IRA: IRA, SEP-IRA, 401K, 403b, 457, TSP, annuities, pension plans
Roll over 401k to Precious metals
The requirement for moving a 401K to Gold without penalty is that you no longer work for the employer who provided the 401K
401K accounts active with a current employer are not eligible for a Gold IRA rollover
There’s a simple 4-step process for opening a Precious metals IRA
1. Open a self-directed IRA account with an IRS-approved Trustee
2. Fund the account
3. Choose a Custodian to hold the physical Precious metals, and
4. Pick which metals to hold in the account
The account can be funded with either a Rollover or a Transfer
How to move 401k to Gold without penalty
There are two ways to move 401K funds into physical Gold without incurring any tax consequences or penalties
The best method is a Rollover since it involves zero risk
An account Transfer is another option but it involves a distribution of funds which could trigger tax penalties and consequences if the Transfer isn’t completed within 60 days
Gold IRA tax rules
~ Rollover ~
When a 401K account is rolled-over the funds are wired from the 401K Trustee to the Gold IRA Trustee
The investor never receives any money so no distribution occurs - that means there is no risk of penalties or other tax consequences
~ Transfer ~
During an account transfer funds are distributed from the 401K to the investor
The investor has 60 days to deposit the funds into the Gold IRA account
If the transfer is not completed within 60 days the IRS will do two things:
1. assess a 10% early withdrawal penalty on investors who are under 59 ½ years of age
2. treat the distribution as regular income for tax purposes
Benefits of Gold IRA
Investors seek the protection of Precious metals when they feel anxiety about their existing financial situation
Many Americans are becoming uncomfortable about overextended stock markets and transitory Inflation becoming permanent
They are diversifying their retirement funds into physical Gold and Silver as a way to hedge against both financial risk and Inflation
How to buy Gold
When we talk about “buying Gold” we have to differentiate between physical Gold and any derivative form of Gold
An American Gold Eagle Coin is clearly physical metal while shares in GLD are clearly NOT physical Gold (although this ETF claims to back all their shares with physical Gold)
Ideally an investor holds some physical Gold in their personal possession, or readily accessible
Another way to own physical Gold is through a third-party arrangement like a Gold IRA or Gold Ownership Certificate Program
Third-party arrangements are required for Gold IRAs and may be desirable for investors wanting to own more Gold than can be stored locally
Gold IRA reviews
Listed below are the best resources for finding Gold IRA reviews:
Better Business Bureau (BBB)
Consumer Affairs
Google Reviews
These websites gather customer reviews as a service to consumers
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Related topics
can I buy Silver with my 401k
roll over 401k to Precious metals
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FTC Disclosure: Satori Traders provides Precious metals information for free to help consumers educate themselves. The contents of this video do not constitute financial advice. Always perform your own analysis and due diligence when putting your hard-earned money at risk. Before making any Investment decision consult your own Investment, Financial, Tax, and Legal advisors. These professionals will make recommendations appropriate for your personal circumstances and tolerance for risk. We receive compensation from external companies when you do business with them.
