If you’re ready to convert part of your IRA to gold, here is how to get started in 3 Easy Steps:
#1 – Choose a Gold Investing Partner
The first step is to choose a gold investment firm that supports IRA rollovers and allows you to invest in different types of gold (e.g. bullion coins, bars, EFTs, mutual funds, etc…). If you are US based, we strongly recommend working with Regal Assets, a gold broker based in California and backed by many high net worth investors.
#2 – Choose the amount you want to invest
APMEX specialists recommend that no more than 20% of your retirement portfolio should go to precious metals such as gold or silver. Some other financial advisors have different opinions. Speak with a specialist to determine how much you should invest as a start.
#3 – Choose the type of gold
As we said in the 1st step, a good gold broker should offer you different options. The question you have to ask yourself at this point is: do you want to hold physical gold in your possession, or do you want to buy “virtual” gold, meaning that your gold will not be shipped to you. Holding your gold in your possession means additional costs (insurance, secure vaults, etc…) so it might be a wiser idea to think of gold EFTs or mutual funds. Again, speak with your financial adviser to determine the best option for you.