Today’s financial landscape looks a lot different than just ten years ago. In the past, having a retirement account like a 401k or IRA was enough to save for the future and ensure that you had enough money to live comfortably. However, the financial meltdown of 2008 left most retirement accounts barren and many people scrambling to figure out how they will be able to retire. Younger people are skeptical about putting their money into retirement savings accounts, leaving them ill-prepared for the challenges that their retirement years will throw at them. However, there is a solution that can help more people save for retirement and protect their investments from future financial loss: gold IRAs. In 1997, Bill Clinton signed the Tax Relief Act that allowed investors to invest in gold, which historically increases in value as the stock market decreases in value.
Getting a Gold Backed IRA is easier than you might think. By simply contacting an IRS approved precious metals dealer, you can complete the paperwork and open your new account in a matter of days. Here’s how it works:
HOW TO START A GOLD BACKED IRA
The precious metals dealers you choose will walk you through the necessary paperwork that you will need to open the account. They will then submit the necessary paperwork through the appropriate channels in order to start the process of opening the account. Then you will simply need to wait for a couple of days for your account to open and become available for funding.
Next, you will need to fund your account. You have a couple of options for funding your new IRA Gold. First, you can simply make a deposit into your gold IRA from any one of your existing bank accounts. Or, you can fund your account with no money out of your pocket by rolling over an existing IRA or 401k. This process will not result in early withdrawal penalties or have a negative impact on your taxes. It simply moves your retirement balance from one retirement account to another. The precious metals dealer you choose should be able to assist you in the rollover process.
After the account has been funded, you will then direct your precious metals dealer as to how you would like your money invested. Of course, if you are unsure, the account representative will be able to help guide your decision to ensure maximum return on your money and help you reach your retirement savings goals faster.
If you are ready to make the move to a retirement account that can grow like a traditional IRA or 401k when the markets are good, but have the power to protect the value of your portfolio when the markets aren’t so good, it’s time to start saving smarter for your retirement and start a gold IRA. For more information, please visit http://goldcopreciousmetals.com.