You've come to a decision. You can no longer live with the ups and downs of the stock market, and you are hesitant to get into real estate, as you worry the housing market could see another decline, thanks to dismal unemployment numbers. For this reason, you've decided you need to diversify and open a gold backed IRA. You aren't alone, as many are now choosing this option with great results. Before you rush in and open an account with a company, you need to read a number of why invest in gold. There are three things to be looking for as you do so.
Which is better for my investment portfolio, coins or bullion? The first thing you must know here is that the IRS has specific items allowed for inclusion in a gold IRA. Make sure you know what these items are, as it is ultimately your responsibility. For example, most collectible coins are not allowed in your IRA, but certain companies push these coins, as they offer a better profit margin. You need to know this.
How do I go about liquidating my precious metals if the time comes when I want to sell? Some companies now offer a buyback program, and this may be the preferred option for you. Find out how much you will lose if you choose to participate in the buyback program, as you should be given the fair market value, if not more, depending on the items you wish to liquidate.
What fees do you charge? The fees vary by company and you need to understand exactly how much you will be charged by each provider. Some charge admin fees, which others charge storage fees at regular intervals throughout the year. Certain companies only set up the IRA account and have you use another provider for the storage of the metals. Be sure you know who you will be dealing with and determine all fees before choosing a provider so you don't have any surprises later on.
Turn to Major Money Entertainment for more information on a gold backed IRA and how an account of this type will be of benefit to you. While on the site, be sure to request a free gold investment kit and read about retirement options planning and gold investing 101. With the help of this site, you'll find it is easy to make an informed decision as to whether investing in precious metals is right for you. Many discover it is exactly what they need to complete their investment portfolio.