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Planning for retirement can be challenging, particularly in times of unstable economic conditions and a volatile stock market. Traditional retirement portfolios consist of stocks, bonds, and mutual funds.
Many people choose to diversify their retirement portfolios with investments in gold and other precious metals, which may help guard against high inflation and economic uncertainty.
Gold may be used to hedge against inflation. For the 20 years through June 30, 2019, gold outperformed the S&P 500, bonds, and oil, according to J.P. Morgan Asset Management.
Gold and other metals can also offer liquidity within your account, meaning they can readily be converted into cash should the need arise.
Individual Retirement Accounts (IRAs) offer tax-deferred or tax-free growth, which means that investments made using an IRA may grow to be larger than similar investments made outside an IRA.
To invest with a “gold IRA” or invest in other precious metals in an IRA, certain requirements must be met. Here are the answers to frequently asked questions about gold and other metals in an IRA.
Precious Metals in an IRA: What to Know
1. Why do people diversify their portfolios with precious metals?
Providing diversification and liquidity with no credit risk, gold can be especially attractive during periods of increased market volatility. Many investors choose to diversify retirement portfolios with alternative assets that are not correlated to the stock market.
2. Can I buy physical gold for my IRA?
You can buy gold coins and gold bullion bars, silver, palladium, and other precious metals that meet certain fineness requirements with your IRA.
3. What are the requirements for metals in a retirement account?
Metals must be produced by manufacturers accredited by NYMEX/COMEX, LME, BMA, NYSE/LIFFE/
CBOT, and ISO-9000, or a national mint to be held in a retirement account.
The minimum fineness requirement for bullion is:
- Gold .995+
- Silver .999+
- Platinum .9995+
- Palladium .9995+
Video: Precious Metals in an IRA
4. Can I keep my purchased metals at home?
Home storage is not permitted when your metals are held in an IRA. Your physical assets owned by an IRA must be held by a qualified custodian and stored in a secure, IRS-approved depository. Many depositories offer segregated or non-segregated storage. Segregated storage means that your personal metals are identified and stored under your name.
5. How do I find a precious metals investment for my self-directed IRA?
It’s easier than ever to locate a potential investment opportunity that suits you. Visit Investment District, our online marketplace, to browse investment options from precious metals, cryptocurrency, lending, private equity, and real estate asset providers.
6. What does the custodian do?
The IRS requires that any IRA be administered by a qualified custodian. Self-directed account custodians do not provide investment advice, but they do provide administrative and reporting services, and will purchase precious metals on your behalf per your direction through your IRA account.