Long Term Metals Investing – Self-Directed IRA

Many investors in precious minerals such as gold, silver, platinum or palladium purchase specific coins or bullion with those few extra dollars at the time. While many consider this a long-term investment, many bullion customers are simply looking for a way to save money and have a bartering tool if needed.

While this is certainly important, your long-term financial success is just as important… while retirement may be more than a few years away for you, it is important that you consider how you will have the funds to be able to stop working permanently.

An IRA, or individual retirement income account, is a way for many Americans to save for their retirement ?

What makes an IRA a preferred method is its tax advantage – for every dollar contributed to the account (…up to a certain amount) can be deducted from your taxable income.

You may have heard of IRA accounts for stocks, mutual funds and other financial instruments. As these accounts have grown in popularity, so have the variety of IRA investment options. One of these special accounts is what is known as a self-directed or precious metals IRA.

Rather than being limited to standard stocks and mutual funds, a self-directed IRA allows the account holder to invest in real estate, private stocks, LLCs and, yes, gold and silver bullion.

Other than that, the difference between a self-directed IRA and a traditional IRA is relatively minor. Both require a custodian to manage the account, and both allow you to deduct at least a portion of your investments from your taxable income.

For example, if you deposit $2,000 and fall into the 25% tax bracket, your tax bill may decrease by $500.

Bankruptcy protection is another benefit of any type of IRA account…up to $1 million in assets are protected by law. Many states also prohibit the use of IRA retirement funds to satisfy a legal judgment.

As for metals, you can choose from a wide variety of gold coins and other forms of bullion from the United States and around the world to include in your IRA. Some of these metals include:

  • U.S. Gold, Silver, Platinum and Palladium Eagle
  • Canadian Gold/Silver Maple Leaf
  • Austrian Gold Philharmonic
  • Swiss Pamp, Johnson Matthey or NTR gold bars

-… and much more

To get started, you must create a self-directed IRA account with the custodian of your choice. Funds must be deposited with your custodian before placing an order with your preferred bullion broker. Once your order is placed, it will be shipped to the custodian for storage.

Investing in Metals is a Good Idea?

It is important to remember that you do not take physical possession of your metals. They are held on your behalf by the depository of your choice.

The tax advantages, combined with the safety of storing your investments in a secure vault, make many people consider a self-directed IRA.

If you’ve built up a good stash of bullion to keep on hand, but want to continue investing in metals as part of your long-term financial goals, a self-directed or precious metals IRA may be the answer.

Of course, it’s important that you carefully consider all investments and do the appropriate research. If you want easy access to your metals, an account of this nature is not for you. But if you’re looking to save for the long term, a self-directed IRA can offer many advantages over buying directly.

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