Investing in precious metals such as silver and gold is one way to protect your savings from inflated taxation. In fact, it presents many opportunities to park your cash safely and effectively, allowing you to make smart investment plans during an economic crisis.
However, looking for the right company can be quite taxing, so we’ve put together this guide to investing in Precious Metals IRAs (Individual Retirement Accounts). This article specifically gives a thorough explanation through making a Goldco review, a California-based precious metals wholesale company that specializes in gold and silver IRA.
The Basics In The Goldco Investing Journey
One of the most established precious metals firms, Goldco Precious Metals (commonly known as Goldco) provides self-directed Precious Metals IRAs funded by precious metals such as gold, silver, and other precious metal which may also take form in physical gold and silver coins. Goldco Gold IRA is known for being a reputable company that offers precious metal investments, as well for its positive customer reviews and astounding feedback from clients, among other Precious Metals IRA and Gold IRA companies.
Their target consumers are those who want their funds secured through a tangible item, and those who seek other options, particularly those who feel that the bond and stock market is too volatile. Doing so will help avoid stock market crashes by investing in physical metals rather than just paper assets and percentages in companies wherein instability is inevitable.
First things first: Before you begin investing, it’s important to gain a clear understanding of this kind of investment in order to know if it’s the right fit for you before you continue reading this Goldco review. All sorts of investments sometimes carry risk. Like any investment, the value of gold and silver also fluctuates on a daily basis, and that a past performance does not equate to good future performance results. Keeping that in mind, this Goldco review presents what the company offers, its fees, and steps to prepare you to invest in Goldco Precious Metals IRA.
A Quick Walkthrough Of Goldco Services
The firm is basically a precious metals broker that also works with Gold IRA custodians and specialists. It helps consumers in opening accounts by purchasing precious metals funded IRAs under IRS (Internal Revenue Service) Rules, which includes IRS-approved gold coins and IRS-approved silver coins.
Gold IRAs And Silver IRAs
Goldco assists customers in investing in Gold or Silver IRA and other precious metals IRA, and provides you with information on how to open Gold or Silver IRAs. They can also give you advice on which metals are good to invest your money in. They also offer tips for starters in investing in Goldco Gold and Silver IRAs.
They provide rollover services for those who wish to transfer their IRAs to self-directed IRA precious metals from financial institutions and other companies. The company also provides assistance with rolling over your existing retirement account into Gold IRA, Silver IRA and other Precious Metals IRA.
Knowledge On Traditional And Roth IRA Planning
The company is also best known for its vast knowledge on Goldco IRA planning on gold and silver, and Precious Metals IRAs. They specifically provide you a fundamental knowledge in comparing and contrasting Roth from Traditional IRA. They will also provide assistance to get those IRAs rolled into a Precious Metals IRA.
Trusted Service Providers
Although Goldco does not offer custodian and storage services, they will surely assist customers in settling with the help of their trusted service providers that have their own IRS-approved storage facility. They coordinate these purchases and accomplish all paperworks with a custodian and storage company. Learn why you can’t store Gold IRA at home.
Goldco also offers additional services such as SIMPLE IRAs (Savings Incentive Match Plan for Employees IRAs) which is a plan that enables both employees and employers to contribute to traditional IRAs set up for employees.
Moreover, the precious metals firm provides SEP IRAs (Simplified Employee Pension IRAs), which is also a type of plan given by financial institutions for business owners in order to provide retirement benefits for their employees and themselves. SEP IRA is a traditional IRA that is a tax-deferred retirement savings account for small businesses and the self-employed.
The Costs and Fees of Goldco’s services
In investing at Goldco Gold IRA, the recommended base purchase starts from $25,000. At this investment start-up level, the annual fees will cost $175, and its yearly fees will not increase unless the investment will rise up to $100,000 with the amount of $225. This investment level will make the company reimburse the fees of storage facilities for a year. Reimbursement comes in the form of silver, which is of the same value as storage fees, that will be shipped to the IRA account of the customer. It is to be emphasized however that silver is not considered to be part of the IRA holder’s account and with this, storage fees should be settled promptly. Additionally, the company will ship another silver with a value of a year worth of storage fees in every additional $25,000 investment.
Here’s a quick overview of Goldco’s fees for your easy reference:
Gold and Silver IRAs
Recommended base purchase
- Annual fee
$175, will increase to $225 if investment rises up to $100,000
- Storage fee
Prices vary according to the custodian
The company will ship another silver with a value of a year worth of storage fees in every additional $25,000 investment
- Custodian fee
Depends on the selected custodian company
How To Invest In Goldco
After reading through Goldco’s services and its fees, you can now proceed to making an informed decision. Investing in precious metals IRA is a big step, but rest assured that Goldco’s team of experts will walk you through the entire process. For further guidance on investing in gold IRA, you may view this gold IRA buyers’ guide. If you’re interested to securing your money through investing in physical precious metals, then follow these steps below:
- Contact Goldco
The easiest and fastest way to start your Goldco investing is to directly call them at 855-480-2488 online or by phone. An application fill-out form is also available online through their website where you may type in your concerns. You may also send them an email at email@example.com.
- Make sure to have personal identifiable information
Just like the usual processes in making financial accounts, make sure you have personal identifiable information such as a social security number, passport number, or driver’s license number before the establishment of an account.
- Review choices
A representative from Goldco will contact you to inform you that you are qualified. From there, the Goldco team will answer all your inquiries and orient you on what to do next. They will also send an email or mail which will contain a comprehensive guide that provides an explainer on precious metal IRAs options. The information will be able to help you review all available choices before deciding on what type of metals to put in your IRA.
- Choose your IRA
The next step will be choosing your IRA in which you can opt for a traditional self-directed IRA or a self-directed Roth IRA. Before deciding, it’s best to consider how you’ll be funding your account. It’s preferable to choose a self-directed Roth IRA if you’re planning to rollover funds from a Roth IRA.
- Determine your funding source
It’s very important to know how you’ll be funding your new account. You’ll be asked to roll over a portion or all of your funds into your new account.
- Choose your IRA custodian
You’ll be instructed to choose your gold IRA custodian. You’ll have to finish a couple of paperwork so you can establish your IRA account. Worry not, as you will be personally assisted by the Goldco’s team of silver and gold IRA experts in setting up an account with one of their recommended custodian companies.
- Fund your new account
For this next step, you’ll need to fund your new account. You can request the transfer of the assets from your old or existing IRA by contacting your current 401(k) or IRA holder. To make sure you’re following the IRS rules, you may consult a tax advisor to minimize unnecessary tax liabilities.
- Buy your metals
Once the transfer mentioned in the previous step is completed, Goldco’s team of gold and silver IRA experts will assist you in choosing the precious metals that are best fit for your financial goals. They will also help in the purchase, shipping, and storage of your investments for your convenience.
Note: Before investing in Goldco gold and silver or other precious metal, you also have to consider your own personal circumstances. Investing in physical precious metals such as gold or silver over the traditional retirement accounts and Roth IRAs may be the next good step for your investment plans, but you still need to consult financial professionals who can help you with making a decision. Once you’re all set, you can now begin your Goldco investing journey! When you complete and return your Goldco self-directed IRA application, you can get a free silver coin and IRS Loophole Guide.
What Goldco Is Known For
What makes Goldco distinguished among other precious metals IRA companies is that they know how to serve their customers well and carefully determine their needs.
Excellent customer service
Goldco continues to be a trustworthy company with exceptional customer service. Buying precious metals is made easy because they provide educational materials available for new and existing clients. Their considerable dedication in helping their customers is apparent as they provide free e-books, charts, and even videos for those who are audio-visual learners. It provides a hassle-free way to buy gold and investing in precious metals as a whole.
More than that, Goldco’s team of specialists are very experienced in investments and protecting their clients’ retirement savings. Not to mention, the company received an A+ rating from Better Business Bureau and has a Triple-A rating from Business Consumer Alliance based on dependability and ethical business practices.
Premium storage options
As mentioned before, you can only use accredited facilities for precious metal storage due to IRS regulations. With this, Goldco offers storage options with bank-vault level security through their trusted partner companies such as the Delaware Depository Service Company (DDSC) and Brinks – Precious Metals Logistics in New York, which are both well-known IRA depositories holding precious metals in the United States.
Summary of Reviews
The very few negative Goldco reviews addressed to Goldco seem to be just minor misunderstandings on how precious metals and their values revolve around the market. In addressing this Goldco review, it will thoroughly expound how it really works, after which, a negative remark will then be converted to a better Goldco review and ratings — maintaining their prestige and credibility.
Nevertheless, the majority of the Goldco reviews are overall positive, and even received a top-notch rating from Business Consumer Alliance and Better Business Bureau, which means customers are generally satisfied with the services provided by Goldco, deeming that it’s worth the investment. It can also be said that customers rarely complain about the way they handle all paperwork of the purchase and other fees. Goldco, being the leading precious metal firm worldwide, is very hands-on in preventing the contacting of several entities for a smoother and simplified transaction — the trait most mentioned by the positive reviews it earned.
In essence, Goldco’s services revolve around Precious Metals IRAs – Gold IRAs, Silver IRAs and other Precious Metal IRAs respectively. Remember that it only acts as a broker in buying and selling precious metals. In availing Goldco’s services, interested customers are expected to begin in precious metal investments with at least $25,000. Other companies that provide similar services include Augusta Precious Metals company the Regal Assets company, and Noble Gold investments.
It’s known for its speedy process in the completion of all paperworks with a custodian company. In addition, it also offers rollover services which aids customers who wish to transfer to a self-directed IRA and Precious Metals IRA from existing retirement accounts. Goldco ensures coordination with a strong team of companies which simplifies all logistical work from IRA custodians and IRS-approved storage facilities.
We hope that this Goldco review will make you consider and begin investing with Goldco to help you secure your financial future especially if you’re looking for a way to diversify your own investment portfolio. Goldco stands out in this industry among other gold IRA companies. It might be the best fit for you. Ready to invest and buy gold? Start getting your free kit now!
Frequently Asked Questions About Goldco
Below you can find some of the most common questions we get asked all the time.
Do my precious metals can be coins or do they have to be in the form of bars?
Not only gold and silver coins but even bars can be excluded in Precious Metal IRAs. There are only certain coins, specifically precious metal coins and bars that are IRS-approved since it maintains a list of acceptable precious metals forms.
Can my precious metals be stored at home?
It cannot be stored at home because it has to be kept by an approved non-bank trustee or an IRS-approved bank. Precious metals should have to be regulated in accordance with deposit and disbursement laws.
Do I have the freedom to choose any custodian or storage company or do I have to avail Goldco’s recommended companies?
Yes, you can choose your own custodian or storage company. Although Goldco has its own highly recommended partner companies wherein you can smoothly and avail their services, it doesn’t remove your freedom in picking your chosen custodian and storage companies.
How fast does a traditional IRA rollover into a gold IRA?
It takes about two weeks, but applications are treated differently from one another so it all boils down to a case-to-case basis.
How long does it take to be eligible for distributions?
According to the IRS, you are eligible to take distributions without penalties when you reach the age of 59 and a half.
Is the value of precious metals I bought via Goldco 100% guaranteed?
Clearly, not. Based on varying factors from market influences, its future value may rise or fall.
The owners of this website may be paid to recommend Birch Gold Group. The content on this website, including any positive reviews of Birch Gold Group and other reviews, may not be neutral or independent.
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