The Gold IRA Rollovers: An Update on the New Law

A recent article from Forbes.com discusses how gold IRAs are now available to those who have been investing in precious metals for at least five years. If you’ve been considering opening a gold IRA, this is an update that you cannot miss!

One of the biggest updates to this new law is that you do not have to own physical gold. With a Self-Directed IRA LLC, you can now use your retirement funds in order to purchase Exchange Traded Funds (ETFs). This will allow for securities backed by real estate or other precious metals without having any physical exposure. It’s a great way for those who have been considering investing in gold to get started, but want the security of having an IRA.

Anytime someone is looking into opening a Gold IRA they should be aware that there are some different options available when it comes to how you will store your metal. Some people choose to do a “self-directed gold IRA” which means they will need to invest in an actual safety deposit box or other safe keeping service that holds the legal title of the metals themselves. Others opt for what is called a “Gold Custodian Account,” which does not give you the legal title, but will allow you to store the metal on your behalf. When choosing a Gold Custodian Account it is important that they have an insurance policy so if anything was to happen to their precious metals, there would be coverage in place.

Is a gold IRA rollover still a good investment?

Yes, but don't forget that certain companies charge very high fees that could eat up a large amount of your savings. Make sure to do your due dilligence before contacting any precious metal broker.