There are several IRAs that are attractive for investment especially bonds, stocks, treasury bills, etc. However, not a lot is known about the good IRA market.
Gold IRA is similar to the traditional IRA, only instead of paper assets, physical gold or other approved precious and valuable metals are held in custody for the benefits of an IRA account owner.
The benefits of investing in gold IRA are:
TAX ADVANTAGES
Gold IRA just like traditional IRAs is subject to the same regulations. Gold IRA allows you to enjoy the benefits of owning physical gold while enjoying the same advantages as your existing retirement accounts. Hence you can move assets from your existing IRA account into your gold IRA without worrying about multiple taxing or red tape.
ROLLOVER EASE
You can easily find your gold IRA through your existing retirement assets. You can rollover those assets into a gold IRA from any of 401(k), 403(b), TSP, IRA, or similar retirement account without tax consequences.
Moving assets into your gold IRA is simple and straightforward. You simply need to sell assets in your existing accounts and move the funds to buy gold which will be held for you by your gold IRA company.
FINANCIAL STABILITY
Gold is one of the only few assets that never depreciates. Transnationals and countries store their reserves in gold as a way of preserving its value. The global increase in gold supply is small compared to the total supply of above-ground gold. Hence there can be no major inflation of the gold supply.
Compared to paper assets which can lose as much as 95% after purchase, gold is a better long-term option.
WEALTH APPRECIATION
For decades, good has seen steady growth and has recorded a healthy stock performance. With the ever-changing global economy, there’s probably an economic depression lurking around the corner. Hence it’s best that you save your IRA in an asset which value is unchanging and ever appreciating instead of betting on unstable and capricious assets such as stocks and bonds.
Investing in a gold IRA is the best way to protect your savings and give yourself a financially secured retirement.
DIVERSIFICATION
Diversification is a key strategy in investment as it is not smart to tie all your money on one the same asset.
Diversifying your assets by investing in physical gold or precious metals is a way to protect your Investment from risks such as inflation, financial crisis, unfavorably market regulations, currency risk, etc.
Since the turn of the century, gold has continued to appreciate and it continues to act as a hedge against inflation and financial crises.
At different points in history in times of economic meltdown, financial deterioration, and global financial crisis, investors, companies, and states run to gold as a way of protecting their assets. Before choosing a gold IRA company it is advisable that compare and contrasts the different packages and products offered by each bank to determine which is the best choice for you.
Below are the top three Gold IRA Investment Companies in the United States with a comparison of their best products and packages.
#1
GOLDCO
Best For Customer Support
Goldco is one of the foremost gold IRA company that offers what market expert regards as the best customer support. Goldco has customer-focused services that earned it stellar reviews from BBB, BCA, and Consumer Affairs, and Trustpilot.
Pros
Extensive educational resources: Goldco spares no cost in providing its customer with extensive and well-researched educational resources that they require in arriving at an informed decision.
Competitive pricing: In a highly competitive market, Goldco offers a competitive price with excellent customer service which is a combination that’s not easy to find.
10% back in free silver coins for new accounts. This is an incentive for first-timers as a way of ensuring that they stay long enough to reap the benefits of their investment.
Highest rating from multiple organizations for reliability and honesty. Goldco has been rated as one of the best gold IRA companies by multiple reliable organizations which is a testament to its high standards.
No penalties or additional investment required besides quoted price. You don’t have to bother about hidden charges when you choose Goldco.
Account setup is quick and easy, completed primarily online. Goldco also offers IRA and 401K rollovers to transfer in your existing retirement funds.
Seniority, with a history going back to 2006. Goldco is a market leader in gold IRA and it has many years of experience under its belt making it trustworthy and reliable.
Cons
Minimum investment applies: Gold is a highly valuable metal and it’s limited in supply to protect its value. Hence it’s quite an expensive investment. As a result, there’s a minimum investment which means you need to have up to a particular amount to invest in a gold IRA.
No direct sales: there’s no peer-to-peer purchase of gold IRA. You have to go through the good IRA company which will purchase the value of the gold you desire and also hold the gold for you.
You must call or email the company to get started: Goldco’s customer-centric approach can sometimes be cumbersome as you have to contact the company before signing up, unlike other companies where you can easily register online.
Goldco offers their customer a step by step guidance in assisting them to select the gold, silver, or precious metal that best suits their needs. Goldco also maintains a healthy relationship with mints around globally which gives them access to numerous IRA-eligible gold coins and bars, including many that are minted for Goldco.
#2
BIRCH GOLD GROUP
Best Customer Empowerment
Birch Gold Group believes in putting its clients first when it comes to business. They adopt a transparent and objective approach that is targeted at helping their clients arrive at the best decision.
Founded in 2017, Birch has maintained a stainless reputation that has seen them ranked high by organizations such as BBB, Google Business, and Customer Affairs. Their stellar services as also given them a large clientele that includes some famous names.
Pros
Birch offers an excellent one-on-one service, where experts explain gold investment. Clients will be able to access wide and well-researched information to help them arrive at the best decision for them.
Birch has a wide range of gold IRAs with valuable metals from around the world. You can purchase different types of valuable metal no Birch will help you find it no matter how rare. You can also customize your gold or metal to your satisfaction.
Birch offers a frequently updated analysis of the financial market that reflects the local and International changes in price. They also give a transparent explanation of all fees.
Cons
Birch charges averagely high setup costs and annual fees, which are not explained on the company’s website.
Birch company is based in the US and they don’t conduct business outside the US. This might not be convenient for some investors who reside outside the US or who have business interests outside the US.
You can visit Birch’s website where you will get the chance to speak with an expert who will give you expert information on the gold market. The in-depth analysis and market insight will help you to arrive at an informed decision and make the best decision for your retirement.
AUGUSTA PRECIOUS METALS
Best For Transparent Pricing
When it comes to gold IRA companies there are major similarities in products and services, and the major difference is in the price. This is where Augusta Precious Metals stands out. Aside from offering competitive prices, Their fee structure and pricing plan are straightforward and transparent.
Pros
Cost and transparent fee structure: Augusta Precious Metals’ price plan is straightforward and easy to understand. There’s a readily available breakdown of all the costs which makes it transparent and trustworthy.
Money-back guarantee: They’re one of the few companies who offer a money-back guarantee when they fail to deliver on a product or when clients find their service unsatisfactory.
Guaranteed fair-pricing on purchases: they offer a competitive price that allows clients to buy at an affordable rate and increase their profit margin.
Augusta offers phone and webchat for client education: there’s around-the-clock customer care service that caters to clients’ needs.
Company waives fees for the first year: they offer a waiver of some of their charges for the first year. This makes their service attractive.
Cons
Doesn’t offer platinum or palladium: there’s a limit to the type of metal clients can purchase.
No online purchases: this might not be convenient for persons not resident in the United States.
No online orders: this might not be convenient as clients would have to come to their office to physically sign the paperwork before purchase.
High minimum orders, $25,000 for cash purchases, and $100,000 for IRA. It’s quite expensive and may not be accessible to average income earners.
Augusta Precious Metals offers easy IRA rollovers with its transparent pricing scheme which makes it a top pick for gold IRA Investment. Augusta works with a highly reputable Delaware Depository for their customers’ storage needs, with vault locations throughout the U.S.
