Do you want to include precious metals such as gold in your IRA? Well, I am glad to hear that! A precious metals IRA is a type of self-directed IRA which consists of IRS approved coins and bars. Unlike paper currency, physical bullion is kept as an investment in such accounts. There are four types of precious metals that you can include in your self-directed precious metals IRA. They are Gold, Silver, Platinum, and Palladium. Gold is most famous among all the IRA-approved metals due to a vast majority of buyers.
There are numerous benefits of precious metals Investing. Some of them are:
Complete Diversity to the retirement portfolio. Diversity has become an important factor in calculating “CIBIL” for the account holder. It assures government institutions that the individual is more likely to get confirmed returns in the future.
Tax Benefits. 401k accounts are liable to federal taxes. Converting 401k into precious metal IRA allows the account holder to get a rebate in taxes.
Assured Returns. Unlike the stock market, these metals are not subject to market risks. One can sell these metals at the time of maturity to retrieve the paper money.
Huge Gains. The price of luxury metals such as Gold has risen exponentially in the past few years. If you invest now, it will provide huge returns shortly.
Easy to Trade. These IRA approved metals acts a symbol of recognition. People around the world may not have heard about your native currency. But the shiny metals like Gold, Silver, Platinum are known to every citizen in the world.