Gold IRA Rollover By Gina RobertsGrey (Investopedia) Whether you’re just starting to open IRAs or wondering if it’s time to rethink your IRA investment strategy, a gold IRA is worth considering. Rolling over a portion of your IRA to gold can help you sidestep the volatile stock market. Of course, gold itself is volatile, but the rise of gold past $1,300 per ounce on May 2, 2016, the highest since January 2015, had many people taking a new look at the metal. “IRAs can invest in virtually any asset as an investment like stocks, bonds, real estate, private equity, etc. A gold IRA is just a fancy name for one that chose to invest in gold,” says Daniel Sentell, former director of communications at Broad Financial, a Monsey, N.Y.-based financial services company that offers gold IRAs. If you already have an IRA or 401(k), either regular or Roth, you have the option of rolling over some or all of your investment into a gold IRA. With 401(k)s, rollovers generally are permitted when you switch jobs (and have to decide what to do with retirement money at the employer you are leaving) or when you retire. With an IRA, you can switch to a different custodian more freely. Different rules and tax treatments apply, depending on whether your retirement money is funded with pre-tax dollars (traditional IRAs and 401(k)s) or after-tax dollars (Roth IRAs and 410(k)s). “Gold IRAs can be either Traditional or Roth options,” says Sentell. For more on the differences between Roth and regular retirement accounts – and rules about rollovers – read Should You Roll Over Your 401(k), Common IRA Rollover Mistakes and Know The Rules For Roth 401(k) Rollovers. The question at hand is, when you do decide to roll over some of your retirement money, should any of it go into gold?
Golden Rules A gold IRA can only be invested in actual gold, be it coins or bullion. Consider whether you want to have a physical investment in your portfolio rather than a stock, mutual fund or an exchange-traded fund that tracks a gold index, says Brett Gottlieb, an investment advisor representative and founder of Comprehensive Advisor in Carlsbad, Calif. With a physical asset, such as gold, you're actually purchasing the item itself – not a piece of paper that represents the item or a fund that holds the item. As when making any major purchase, it pays to shop around. “Although gold has a going rate, there are markups depending upon whether you want gold bullion, coins, proofs, etc.,” says Sentell. “Similarly, each form of gold presents its own set of requirements when an investor has to sell the gold. It pays to get educated so that you know what you're getting into.” That education includes knowing the fees are associated with this type of retirement account compared to another type of IRA or retirement vehicle.
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