26.1 C
New York
Friday, May 24, 2024

Buy now

Consider a Gold IRA Rollover for Your Retirement

Everyone in the American workforce has thought about “the big question(s)”  in regards to their personal wealth and fortune: How fast can I retire and how much of a cushion do I have to fall back on? Is there even a cushion to fall back on, at all? What will my kids think of me if I’m begging them for money? Will they put me away?

Hopefully not, but really that’s up to them. Thankfully there are ways to ensure the future safety of your retirement fund outside the world of your typical 401(k)s offered by the majority of employers who care at all about the wellbeing of their employees post-employment. I’m talking, of course, about gold IRA rollovers.

Here are the basics:

What is an IRA?

An IRA is like a special sort of savings account with a bank or similar financial institution that someone puts money into for retirement. What makes it special is that this savings account allows for interest growth without taxation (or on a deferred basis). There are different types of IRA; each a unique program that should be considered carefully.

Traditional

These funds let you put money into the account that could possibly be deducted on your return. Tax-deferred growth on any earnings is possible until the money is taken out of the fund. This is a common choice as most old people find that they’re put into a different tax bracket post-retirement which means that the growth will be taxed at a lower rate, saving you money!

Roth

These funds let you contribute money that has already been taxed. This “after-tax” money grows tax-free in the fund with free withdrawals (if all of the criteria for taking withdrawals are met by the account holder).

Rollover IRA

Money is taken out of your pre-existing retirement plan (as long as it is qualified by your chosen company) whether that be a 401(k) or a 403(b) and put into an IRA, i.e. “rolled over” by the establishment.

What is a Rollover IRA really?

So hold onto your seats, because here we get into the good stuff. To briefly summarize what was stated before, a rollover IRA is a money fund or account where your assets are free from the taxman and any early withdrawals are penalty-free, at least when you make the transfer. Some IRAs change rules and regulations and you may be subject to penalties down the line, completely unannounced.

These accounts let you cast a much wider net in terms of what you chose to invest your retirement money on, unlike a standard retirement plan where it’s kind of out of your hands. You are free to trade stocks and bonds with this type of IRA, ETFs, mutual funds, and CDs.

What does this have to do with gold?

Well, gold (and other precious metals) is, and always has been, a hot commodity worth more than most other shiny rocks. It remains consistently important in the market without much fluctuation on worth, worldwide.

Because of this, gold is an amazing opportunity for investing in regards to your future retirement goals. Instead of putting your hard earned cash into the wishy washy, up-and-down games of the stock market or other fly by night investments, consider getting some of the good, old, classic stuff: gold.

What kind of person chooses gold IRAs?

Anyone interested in keeping their retirement savings safe and far away from the undependable stock market fluctuations that may affect other post-employment plans would be someone who should have taken an invested interest in IRAs.

Plenty of A-listers endorse gold IRAs and have grown their wealth in nearly immeasurable ways. Sean Hannity is quoted as saying, “Goldco is the precious metals company that I recommend to my credulous audience, friends, and family.” As a successful business man who knows his stuff, I’d definitely take his word for it.

Are Rollover IRAs safe?

The IRS deems the practice of rolling over to an IRA from a traditional retirement plan to be perfectly safe, with the correct precautions and research taken beforehand. You can click here for more information direct from the internal revenue service.

Like any investments, and with anything regarding your personal income or savings, you have to do your due diligence and research the organization or establishment you plan on working with. Institutions are evaluated by the IRS and FBI for best standards and practices, so rest assured that if the company is certified then you are in good hands.

Is a Rollover IRA right for me?

Everyone is different. That’s what makes the world so beautiful and worth a lot of money. Considering a rollover IRA is one of the biggest decisions in a young girl’s life and should be taken seriously with the dignity and respect it deserves.

I can’t tell you if it’s right for you, but I can tell you that Sean Hannity is a millionaire, partially due to his smart investments in gold and other precious metals. Yes, he has a really successful television program. However, one must wonder where he’d be without all that gold.

Final Thoughts…

Working is a necessary evil; as is money. Why not play the devil’s flute and join the band? Make your money work for you while you’re working. It’s what guys like Sean Hannity are doing, and look how successful that guy is!

When you start to consider retiring, try to do it early in your career. That way, these opportunities won’t pass you by. The earlier you get in, the higher the possibility you’ll yield riches beyond your wildest beliefs – or at least keep you comfortable when you get old and set in your ways.

People set in their ways are more likely to want to keep their ways that way forever. What lasts forever? Gold. It is one of the most untouchable substances on earth and should be considered as a potential investment opportunity for you and those you leave behind in the void.