How To Move 401k Without Penalty

How To Move "401k" Without Penalty



Never pay extra for proof Coins and limited-edition Coins. It doesn't matter if it is a proof American Eagle Coin, or an old Krugerrand from the scratch and-dent bin - Gold is Gold. The same advice applies to Silver, Platinum, or Palladium. The IRS prohibits Collectible Coins in IRAs but many IRA companies get around this law by selling proof and special edition Coins. Coins with a “certificate of authenticity” are another way that mints and Gold IRA companies get investors to pay more than they should for an ounce of metal. These certificates add zero value to a Coin – the certificate is just a piece of paper – who cares?. Precious metals don’t need certificates of authenticity to prove that they are valuable. Gold, and the other metals, are valuable on their own and that’s why investors choose to store their hard-earned retirement savings in Precious metals. This recommendation applies especially to Gold IRAs, where physical Gold is stored at an IRS-approved repository. Many IRA investors will never see or hold the metal in their Gold IRA. They will protect their savings with a Precious metals IRA while they are working and then take cash distributions after retirement. For these investors it makes no sense to pay a premium for special edition Coins, they will never see the Coins so it doesn’t matter what they look like or whether the Coins have certificates of authenticity.

Gold Vs 401k —



Shady salespeople get uninformed investors to pay obscene premiums for special edition Coins by claiming that these Coins are more liquid when it comes time to sell. This claim is pure BS – Gold is one of the most liquid markets in the world. Again, one ounce of Gold is worth one ounce of Gold, period. It doesn’t matter what it looks like, whether it comes in a fancy box, or has some piece of paper saying it is authentic. If a salesman or saleswomen pushes special edition Coins they are looking out for themselves and not the investor. The markup on special edition Coins is substantial so the salesperson makes more money by selling them. They use fear as a sales tactic by implying that the investor won’t be able to sell their Coins when the time comes. It is actually more likely that the investor won’t be able to sell their special edition Coin because nobody wants to pay an outrageous premium for what is really just one ounce of Gold. The only time it makes sense to pay a premium for a Coin is if you plan to eventually hold that Coin in your hand and appreciate it as a beautiful piece of art. That means you are planning to take distributions from the IRA in metal and not in cash.

How To Move 401k To Gold Without Penalty



If you don't plan on taking possession of the Precious metals after your retirement, you will never see the Coins, so what they look like doesn’t matter. What does matter is getting the most metal possible for your retirement savings. That means you want to focus on purchasing Bullion Coins and bars instead of the special edition items. Premiums vary from one form of metal to another with Bullion bars and Coins having the lowest premiums and special edition Coins having the highest premium. When you are purchasing the metal to hold in your Precious metals IRA ask the sales representative which products have the lowest premiums – those are the products to purchase with the bulk of your money. It is OK if you want to purchase a few special edition Coins but don’t put all of your savings into these premium products. Right now American Eagle Coins carry very high premiums relative to Coins from non-US mints. Unless you are determined to hold only American Coins, purchase Canadian Maple Leafs, Austrian Philharmonics, or United Kingdom Britannias – again, whichever Coins have the lowest premium. Bullion bars are likely to have lower premiums than Coins so purchase bars first and Coins second.

How To Move 401k To Gold Without Penalty
How To Move 401k To Gold

How To Move 401k To Gold



While a Gold IRA may not be the best way of owning physical Precious metals, it is the only way you can purchase and keep physical Precious metals using your tax-advantaged retirement savings. There really are no alternatives unless you are willing to cash out your Retirement account, pay the early withdrawal penalty and income taxes, and then purchase Precious metals with the money that is left. For most investors the cost of cashing out their tax-advantaged accounts is prohibitive so their money is stuck inside an IRS-approved retirement plan until they reach age 59 ½ when they can start taking distributions without an early withdrawal penalty. That means the investors money – your money – needs to be in some kind of Investment while it sits in the IRS-approved account. You can let the money sit in cash, it doesn’t have to be invested 100% of the time but cash doesn’t appreciate in value over time. With the exception of Precious metals IRA, most Retirement accounts are limited to Stocks, Bonds, and Mutual funds and, unfortunately, all of those Investments are likely to lose significant value during periods of Inflation and Stagflation like we are currently experiencing.

Move 401k To Gold



Individuals looking to diversify their retirement Portfolios and protect against Inflation and a possible collapse of the Stock markets are likely to choose to invest in Gold. Gold is not like shares in a corporation! Gold Coins and Bullion are not subject to bankruptcy like corporations. Gold is always worth something regardless of which fiat currency the Gold is priced in. People have recognized Gold as the ideal form of money for several thousand years. It is only in the past 100 years that Precious metals have been pushed to the wayside by global central banks. The problem with Gold, from their perspective, is that they can’t create it on their printing presses. Instead, physical Gold has to be dug from the ground with a great deal of labor. That is why they tell the masses that Gold is a pet rock while they themselves accumulate as much of the yellow metal as they can. In the last ten years several central banks have more than tripled the amount of physical Gold they hold in their reserves. If Gold is just a pet rock then why are they keeping it in their reserves and seeking to buy more?

Move 401k To Gold

How Can I Transfer My 401k To Gold Without Penalty



One of the challenges for the average investor is that they don’t know how to purchase Gold or Silver or any other Precious metal. When they decide they want to protect and preserve their Wealth with physical Gold they don’t know where to begin. Fortunately, there is lots of information on the internet addressing the basics of Precious metals investing. A common question that investors try to answer is how they can convert an existing Retirement account to Gold without incurring any penalties or taxes. They are pleased to find that it is possible to accomplish this objective and the process is actually quite straightforward. The solution that investors discover is called a self-directed Precious metals IRA or, more commonly, a Gold IRA. The term “Gold IRA” is a little bit misleading because a Precious metals IRA can hold any of these metals: Gold, Silver, Platinum, and Palladium. Gold IRAs, Silver IRAs, and Precious metals IRAs are just different names for the same Investment vehicle. Once an investor understands that a Gold IRA is the solution they are looking for, the next step is to locate a reputable Precious metals IRA company and begin the process of converting their tax-advantaged retirement savings into physical Silver and Gold.

How To Move "401k" Without Penalty



Many Gold IRA companies offer assistance for converting your IRA or eligible 401(k) to Precious metals. The terms and fees vary from one company to the next, but they are all fairly similar. One of the ways that companies differ is in the type of incentives they offer to first-time investors. Some Gold IRA companies offer to waive setup fees or storage fees on qualifying accounts. There is at least one Precious metals IRA company that offers investors up to $10,000 worth of free Silver if they make an initial deposit of $100,000 or more in a Gold IRA. Before you open a new account with any of these companies, make sure to do your research and compare the incentives that a company offers. Other factors you can use to compare companies are years in business, BBB ratings, and online customer reviews. Reviews from existing customers are particularly valuable because these people either liked or disliked a company enough to go online and submit a review. In addition to the review itself, pay attention to how the Gold Ira company responds to negative reviews. Reputable companies will attempt to resolve any negative customer experiences and convert the unhappy customer into a satisfied client.

How To Move