With plenty of opportunities in gold investments, not to mention the relative ease with which one can enter the gold investment market, everyone looking to post good profits from IRAs should consider making the leap from conventional IRAs to gold IRAs as soon as possible.
So let’s go ahead and examine how to convert IRA to gold:
- The first thing you need to look into is understanding the limitations of your current IRA. Given your current account, what investment options does it offer? Perhaps you can already make investments in gold ETF with what you currently have eliminating the need to convert IRA to gold. By doing a little poking, you might be able to eliminate the effort associated with looking into IRA conversion because you are already right where you need to be. So – Does your existing plan allow inventments in a gold ETF?
- Now, suppose you found out that your IRA does not cover investments in gold, you need to ask what types of gold investments you wish to pursue. This determines the conversion process that you may go through in order to get your IRA to hold gold assets. If you want to invest in gold ETFs, which are index investments that work much like conventional stocks and bonds, then you need an IRA that accepts stocks and bonds as investment options. If you want to invest in actual gold, you will need to go through a more rigorous process and we will talk about this in succeeding bullets. If we havent posted the updates yet then speak to our recommended partner – Regal Assets by filling in the details on the right hand side and they will give you a call right back.
- If you want to limit your gold investments to ETF form only, you can simply place a call with your IRA manager or investment broker and inquire about stock and bond investment options particularly those dealing with ETFs. Normally, this does not require any major work on your part. A few forms should allow you to hold gold assets in ETF form. Once done, you can quickly place a trade request with your broker detailing the amount and type of ETF that you want to acquire and you should be well on your way towards taking advantage of the strength and potential of gold investments.
- Acquiring actual gold is a more rigorous process and requires the creation of a new IRA account altogether. There are a select number of companies that allow these types of transactions and the options for actual gold normally boil down to Gold Eagles or bullion bars. Remember that the price difference between gold bars and gold coins are significant and being able to properly plan your investment strategy is crucial to turning a profit.
- Once you finalize the accounts that are designed to carry gold, you are well past learning how to convert IRA to gold. You only need to begin funding your IRA to begin with the transactions that you want to do. If you are new to these types of investment, work closely with your fund manager to analyze and determine the investments that bring the most return so you can put your money where it needs to be in order to post a profit.
It is a reasonably straightforward process to convert your IRA to gold if you have the right advice. In fact, the hardest part is deciding wether to begin investing in gold in the first place. Speak to our recommended partners Regal Assets to give you that advice – simply fill out the form on the right and they will call you back.