Published: Jun 01, 2023 4 min read
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Article Summary:

  • High inflation and an uncertain economy are leading many Americans to safeguard and diversify their retirement funds with a Gold IRA, also known as a Self-Directed IRA.
  • Gold can be purchased through “Self-Directed IRAs” funded by transferring assets from an existing retirement account.
  • To open a Self-Directed IRA, most people typically work with a precious metals provider such as Goldco.

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When it comes to planning for your retirement, the most important goal is to ensure that your hard-earned money is well-preserved and available to you when the time comes for you to stop working.

It’s no surprise that the current volatility of the stock market and the soaring national debt is causing many Americans born before 1968 to invest in potentially more stable long-term investments such as gold, as a way to safeguard and diversify their retirement funds.

Below we explore the benefits of investing in a Gold IRA and how to do it in three easy steps with a trusted precious metals provider such as Goldco.

Why are more people buying gold in an IRA?

High inflation and a massive national debt have resulted in unprecedented money printing by the Feds, and in turn, the rapid decline of the dollar’s purchasing power.

This means that even if your retirement funds are sitting in a bank or other interest-earning account, its purchasing power is declining every time the government prints more money.

For these reasons, investors continue to look to gold as a relatively safe investment option and protection against risk.

With their future in mind, many concerned Americans are protecting their retirement by storing physical gold in a tax-deferred account known as a “Self-Directed IRA” — a type of traditional or Roth IRA. This option presents a potential means to preserve your money’s purchasing power from economic downturns and currency devaluations in the long run.

How to Add Gold to a Self-Directed IRA in 3 Easy Steps

Step 1: Open Your Self-Directed IRA

To open a Self-Directed IRA, many people typically work with a precious metals provider such as Goldco. Their specialists walk you through every step of the process, including helping you fill out all of the necessary paperwork and making sure that your account is fully compliant with federal regulations.

Step 2: Fund Your Self-Directed IRA Account

You can fund your Self-Directed IRA account in the same way you would fund a typical savings or investment account — using cash, cheques, or wire transfers.

You can also roll over or transfer assets from your existing retirement accounts, such as a 401(k), 403(b), TSP, savings, or other IRA accounts. Those rollovers and transfers usually take place without tax consequences.

Step 3: Buy Gold as Part of your IRA

Once you’ve funded your account, you can go on to buy any of the IRA-approved metal(s) as part of your retirement account diversification strategy.

Get more information:

To learn more about how to buy gold through a Self-Directed IRA and preserve your wealth, visit our partner Goldco's website and receive a free 2023 investor's information kit today.

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The information provided on this page is for educational purposes only and is not intended as investment advice.