If you are interested in exchanging a 401K or IRA with precious metals or acquiring a new IRA I can assist you in keeping your retirement savings in physical metals. Here are a few things you may wish to consider:
- You must relinquish control of the metals in order to keep the tax deferred status of your IRA. In other words, it works just the same as a traditional IRA using stocks, mutual funds, etc.
- Your metals are stored in a depository and are under the control of your IRA custodian.
- There are only a handful of custodians who allow physical metals in IRA's. I do not represent any custodian nor do I receive any compensation from any of them however if asked I can suggest my favorites. The decision to employ an IRA custodian is entirely your choice.
- You must establish an account at the company and fund it with cash in order for me to purchase metals for you. You may sell securities in order to get cash in your account, but I must have verifiable record of the value of your account when you call to place your order.
- Why Not GOLD will arrange for shipment of your order directly to the depository and the order will be stored in your name. After the metals are delivered to the depository your funds are released for payment. This is extra insurance for you that you will receive your metals!
- It is possible to visit your depository to see your actual metals and for a small fee you can receive your metals, you will pay for shipping and you are responsible for reporting taxable gains.
- I can buy and sell your metals but any physical metals or cash withdrawn will have to be done via the custodian, not through Why Not GOLD. All statements will be provided by the custodian you choose.
- Please call and we can discuss what your options are. I have ideas to cut your taxes and penalties to defer your taxes.
- When you are deciding which metals to purchase I strongly suggest that you decide your end purpose. Will you wish to sell for currency one day or physically take possession of your metals? At 59 ½ you may remove a portion of your metals yearly and pay taxes just on what is removed.
- You can purchase a little more ounce age when buying larger bullion however it is much harder to take possession of. Remember when you sell and re buy you are charged a fee each time. I have heard customers pay as much as 35% buying, selling and then re-buying. Don't let anyone talk you into buying 10 oz gold or 100 oz silver bullion your plans are to sell and receive currency.
- Remember if you allow me to purchase your metals there is no sales fee when you are ready to sell for currency.