Investing in precious metals is one of the best ways to secure financial freedom. This tangible asset is not directly related to the stock market. When the prices of stocks, bonds, and other paper assets go down, the value of precious metals like gold generally goes up. Red more about the price drivers of gold on this page here.
However, there are a lot of complexities and pitfalls when it comes to any investment. This is where you should find a brokerage firm that can help you navigate the complicated terminologies and help you come up with strategies that will benefit you in the long run.
Most of these precious metal companies are helping investors set up an individual retirement account or self-directed IRA. This is where they can invest in alternative assets like precious metals, real estate, or art that align with the existing federal and state laws.
Some people can visit local exchanges in town to buy bullion and gold coins. Afterwards, they can hide their treasures at home. While this still applies nowadays, it’s still best to set up a self-directed IRA that’s compliant with the guidelines of the IRS to avoid penalties and additional taxes. It’s always better to work with experts in the precious metals industry, where companies like Monetary Metals Exchange can be helpful.
There are a lot of companies in the industry today. However, you should look for factors like how safe the company is, if their prices are competitive, if they have key features that make them different from others, or if there are red flags to know about.
What to Know about the Company?
The Monetary Metals Exchanges is based in Idaho, but it caters to many customers nationwide. They were listed as one of the best online dealers by various websites, and firms describe their website as user-friendly and have a customer-centric approach.
Since 2010, the company has been headed by Stefan Gleason, president. You can read the Monetary Metals Review in the link provided and see more about their performance, products, and services. Customers can have a wide selection of metals like gold, silver, platinum, and palladium that they can add to their retirement accounts or use for trading.
For in-depth reviews, it’s highly recommended to go to legitimate websites that do their due diligence on these precious metal companies. It’s always best to choose the companies that are transparent and with competitive prices. Some of the services that you can expect from this specific firm can include the following:
- 24/7 Live Chat Support
- Sales of Precious Metals
- Purchases or Buy Back
- Loan against Precious Metals
- Storage Services
- Educational Resources
Knowing More about Retirement Accounts
These companies generally cater to investors who want to do diversification with their wealth. They are ideal for setting up long-term strategies and retirement accounts. As mentioned, precious metals don’t follow the stock market trends, and they serve as a hedge against inflation, recession, and geopolitical uncertainties, so it’s always best to diversify your portfolio with them.
Most precious metal companies offer tax benefits, safe storage, expert support, and other services that can help decrease the risk of diversification. It’s worth noting that there’s no guarantee that the price of gold will rise after investing, and once an investor reaches the age of 72, the IRS requires that the required minimum distributions be taken from the account.
This means that an investor should have their bullion or gold coins sent to their address which means additional costs in insurance and shipping. Liquidating a portion of the portfolio can benefit the company has buyback programs. This is why you need to choose a company with excellent customer feedback and transparency. Aside from easily setting up your account with them, you can also avoid the higher fees when they have transparent pricing and advice.
What to Choose?
Companies with Asset Protection
If you have a long-term investment strategy, choose firms that are made for asset and wealth protection. This way, you can get some of your assets transferred to a self-directed IRA. With the right company, you’ll also get access to direct and legitimate gold and silver bullion.
These companies are often in the market offering gold bars, maple leaf, American Eagle, and Freedom & Hope coins. The experts in these firms generally make the entire process of opening an IRA with them an easy and hassle-free experience. They will help you understand the whole process, and a representative will walk you through the steps. Get more info about an SDIRA in this link: https://www.nerdwallet.com/article/investing/self-directed-ira.
The next thing to do is to fund the newly opened account by rolling over your existing IRA to the SDIRA. These rollovers can be processed without taxes and penalties, and you’ll have a brand-new retirement account that you can fill with gold bars and coins. Other options are buying the gold or silver coins from the company website and having them shipped to you directly. Investors who meet the minimum amount of investments required can also take advantage of the free storage and shipping options through the right company.
Experts in Rollover
Another factor to consider when choosing a precious metal company is its rollover expertise. Since they have been operating for decades in the industry, they have already built a great reputation that has garnered excellent ratings from the Better Business Bureau and other relevant sites.
Through these companies, you’ll have access to gold, silver, palladium, and platinum coins and bars. Investors generally start by opening an account with them. They fund the account by rolling over their existing 401k or traditional individual retirement account to the new one. The specialists can help facilitate the transfers, review the account, and answer the questions that an investor might have,
After the fund transfers are complete, the investors are ready to choose the precious metals they want to buy. Final confirmation and a specialist review are also available in most brokerages. If you don’t have a secure storage facility in mind, you can ask a representative to discuss your options with reputable depositories in your area. Most of the bigger companies work with the Delaware Depository or Brink’s Global Service, which has insurance coverage of up to a billion dollars making the investments safe.
After you’ve purchased the metals, reviewing your accounts with the company or making some changes is always possible. The best firms are very helpful if you want to make your investments more profitable. Another advantage of these companies is that they have plenty of resources like blogs, podcasts, videos, files, and charts that monitor the market. You can take advantage of their info kits and become knowledgeable in the world of precious metals with the help of the right experts.