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Do you fear that the value of your nest egg will decrease due to inflation once you retire? Gold IRAs (individual retirement accounts) could be a good option for you if this is the case. Opening a precious metals IRA may put tangible, valuable assets like gold and silver into your retirement account.
There are a lot of gold and precious metals retirement account providers to choose from, making it challenging to find the best one for your needs. We want to advise you on managing your financial resources best. Following, we discuss Goldco's IRA offerings and provide all the details you'll need about the company before deciding whether or not to open an IRA with Goldco.
Make Your Investment With The Right Company!
Make sure that you are making your investment with a trusted and proven company. Our team has spent hundreds of hours researching the top precious metals companies, see if Goldco made our list of the top companies for this year!
Is Goldco a Legit Gold IRA Company?
Many fraudulent businesses offer online substandard gold coins, gold bars and other counterfeit goods. Goldco, on the other hand, is an absolute precious metal IRA provider that allows you to buy investments risk-free. It is ranked #1 on our top 5 gold IRA companies list.
Goldco has received the highest possible rating from the Business Consumer Alliance and the highest possible rating from the Better Business Bureau. They have received thousands of five-star ratings from contented clients thanks to their excellent customer service, dependability and ethical business practices.
During the 19th Annual American Business Awards in 2021, Goldco was honored with the Stevie Award for Company of the Year. The company has appeared on the Inc. 5000 list of the nation's fastest-growing private companies five times in the past several years.
Much of Goldco's business is with customers who already have or are opening IRAs to invest in gold and silver coins. Customers are provided with a wealth of resources, including videos and e-books, to assist them in constructing the optimal precious metals investment portfolio.
Goldco claims that the success of their company and the strength of their relationships with clients rests entirely on the trust and mutual respect shared by their gold and silver specialists.
Background of Goldco Company
Founded in 2006, Goldco has since changed its name several times. Former names include "Goldco Direct" and "Goldco Precious Metals." Trevor Gerszt, the company's founder and Brenda Whitman, its current chief executive, have extensive backgrounds in the precious metals IRA field.
Trevor Gerszt, who had spent his infancy and early adulthood in South Africa, the world's second-largest gold miner, launched the corporation in Woodland Hills, California. He learned about the business from his family, who dealt with gold and other precious metals.
From her beginnings as the director of IRA services, Brenda Whitman eventually became the company's chief executive officer. Because of her time spent at Capital Gold Group and her work instructing financial experts in the National Affiliate Program, she is well-versed in the best ways to safeguard your finances.
The firm now offers retirement products like 401(k)s, precious metal IRAs, gold coins and other precious metals.
Goldco IRA Minimum Investment
A minimum initial contribution of $20,000 to $25,000 is required for all precious metals IRAs, 401(k) and other services (depending on the specific product). Consider other investment options such as coins if that sum exceeds your IRA's price range. To make investing in gold and silver coins more accessible to first-time buyers, Goldco sets its minimum purchase at $3,500.
Storage Options
Your precious metals holdings in a Precious Metals IRA will be kept in a safe and secure environment at an FDIC-insured depository. The Internal Revenue Service (IRS) mandates that a depository store and manage the precious metals that fund a Precious Metals IRA.
Goldco employs the business's most reliable and secure storage facilities to protect your precious metals. They use cutting-edge safety measures and technologies.
Goldco's go-to vault service is Delaware Depository. Delaware Depository has been in the precious metals business for nearly 200 years.
Each facility will use state-of-the-art vaults and other security measures to protect your precious metals investment from theft.
You may be tempted to keep your precious metals in the comfort of your own home, but the Internal Revenue Service requires that they be kept in a secure, insured and monitored IRA-approved storage facility.
How Are the Gold IRA Fees at Goldco?
Goldco, like the other providers of self-directed IRAs, charges a fee. You need to know about these costs to make smart financial decisions and keep more money. There are setup, annual and storage fees associated with a Goldco self-directed IRA.
Set Up Fees
Goldco's setup and wire fees are $50 and $30, respectively. This one-time fee of $80 is non-refundable. Additional costs may apply if you want to open a second account or make more than one wire transfer. Price breaks could be offered to those who are willing to spend more.
Storage Fees
All IRA products must be kept in a secure location approved by the IRS. It is possible to have coins delivered to your home and stored in any way you see fit. You must, however, pay for authorized storage of your 401(k) or IRA assets. The companies supply high-security vaults to protect your assets from robbery and natural disasters.
Goldco provides several choices for stowing your belongings at varying costs. With non-segregated storage, your precious metals will be kept in a vault with those of other investors. If you have a gold IRA, you can segregate your holdings by storing them in a private vault away from other investors' holdings.
The breakdown of the costs associated with using the various facilities is here:
All of these locations are compliant with IRS regulations. You can select from several delivery methods that all come with stealthy and secure packing for any things you buy that aren't eligible for an IRA. All shipments from Goldco are covered by insurance and their progress may be tracked in real-time online.
Annual Fees
Goldco's IRA clients must pay annual storage and maintenance costs. The yearly maintenance fee is $80, while the storage fee ranges between $100 and $150. Customers that invest more money receive special perks from the business. A maintenance fee waiver and 5% cash back in precious metals may be offered to new investors with a balance of more than $50,000 in their accounts within the first year.
Goldco Product Offerings
Goldco provides various investment opportunities to help you save for the future, including precious metals and classic IRA products. Your new retirement account can be funded entirely from the beginning or supplemented with money from an existing 401(k). Find out more about Goldco IRAs and bullion choices.
Gold Coins
You can profit from both the rising price of gold and the increased value of a rare gold coin. It's possible to find various gold coins, each with a unique value.
Goldco offers several different kinds of gold coins, like the Saltwater Crocodile from Australia and the Lunar Dog from Britain. The Perth Mint strikes the Gold Australia Saltwater Crocodile in that country. This quarter-ounce gold coin is made from 99.99% pure gold. Gold Australian Saltwater Crocodiles can be used as an IRA investment.
It's no secret that the Lunar Dog British Gold Coin from the Royal Mint is one of the most sought-after gold goods on the market. This coin is 99.9999% pure gold, making it suitable for an IRA and a good investment.
Other bullion products offered by Goldco include:
Silver Coins
Silver coins are available for a more manageable beginning fee. Because of its practical use in jewelry and industry, silver is a highly sought-after valuable metal. Among Goldco's silver coins, the Silver Australian Saltwater Croc and the Canadian Silver Lucky Dragon Coin are the most sought-after.
The Perth Mint furthermore produces silver Australian saltwater crocodile coins, which can be purchased with U.S. dollars or contributed to an Individual Retirement Account (IRA). The coin claims to be 99.99% pure at a weight of half an ounce.
The Royal Canadian Mint produces silver Canadian Lucky Dragon Coins. This silver product can be used in an individual retirement account (IRA) or on the domestic market of the United States. The purity of a one-ounce coin is 99.9999%.
Self-Directed Gold IRA
A typical Individual Retirement Account (IRA) is a tax-deferred savings plan for retirement. Your contributions may reduce your taxable income each year. Taxes will be due once you start taking withdrawals in retirement.
You can invest in a more valuable and physical asset with Goldco's self-directed gold IRAs, but you still get the same tax benefits. Gold maintains its status and gives long-term gains whereas paper currency depreciates over time owing to inflation. The value of gold will be fine with economic conditions.
Goldco allows customers to start fresh when opening an IRA or rollover existing retirement funds into a gold IRA. For instance, rolling over assets from a 401(k), 403(b), IRA or TSP to a gold IRA is tax-free. You can still start a gold IRA if you don't have any other retirement accounts, but you'll need to put in the minimum deposit of $25,000.
Self-Directed Silver IRA
While silver's value is currently perceived to be lower than gold's, many experts believe this will change soon due to silver's increasing demand in the industrial sector. Silver's price rises in tandem with its rising demand. If you buy silver for your IRA now, when prices are low, you could reap huge rewards later in life.
If you're looking for minimal risk, cheap initial investment and stability, look no further than the silver IRA alternatives Goldco provides. Silver is more cost-effective than gold for an initial investment of $25,000 due to its higher metal content. You can reap more retirement benefits by amassing a larger commodity holding.
How to Open a Goldco Gold IRA
Opening a precious metals IRA is as easy as picking up the phone and calling Goldco or filling out an online application. Like with any investing account, you'll need to supply personal details like your Social Security number.
Goldco will send you a manual on investing in precious metals via mail or electronically. After researching your alternatives, help is available to determine which type of gold or silver is appropriate for your IRA.
Step 1: Open an Account
You can start by agreeing to Goldco's terms of service and making a down payment on a precious metals IRA. At that point, a representative of the organization will assist you at every step.
Step 2: Fund the Account
Your current retirement accounts can be used to fund your new precious metals IRA. For instance, rollovers and transfers between 401(k), 403(b), TSP and IRA funds often incur no additional tax liability. There will be further discussion on this procedure.
Step 3: Buy Your Precious Metals
Once your precious metals IRA has been established and funded, you can select the metal(s) you wish to hold.
Goldco Buyback Program
At the time of your retirement, you should liquidate your precious metals holdings. Several businesses will buy your gold and silver, but they may offer you less than you're asking. Goldco recommends consumers sell their precious metals assets to the company to maximize returns.
When the time comes to cash in your gold IRA, all you need to do is contact Goldco and they'll give you a fair price for your gold and make the sale easy. This sale is mutually beneficial because the corporation intends to keep selling gold.
Customer Support
Access to helpful customer service is crucial when deciding on a gold IRA provider to trust with your money. You need a group of friendly and knowledgeable gold professionals to assist you with any inquiries or concerns. As your investment could reach over $25,000, you deserve excellent service.
The people who work in customer service at Goldco are wonderful. Having complete openness and responsibility in all interactions is guaranteed.
Investment firms that assist with establishing a gold IRA may pay lip service to your requirements but fail to meet them after the account is established. Only do business with companies who put on annual fees with your knowledge. With Goldco, you will never have to worry about sneaky charges or underhanded dealings.
401(k) to Gold IRA Rollover
Contrary to popular belief, investors can move money from their current 401(k) or a self-directed 401(k) into a gold IRA. But a few exceptions must be made before proceeding with this procedure.
There should be no problems transferring money from a previous employer's 401(k) to a new gold IRA. You can start the 401(k)-to-IRA rollover by selecting a new gold IRA custodian. But, converting an employer-sponsored 401(k) into a self-directed IRA can take more work.
If you want to transfer funds from your current employer's 401(k) to another one, be sure you understand the transfer process and any penalties that may be incurred. Some 401(k) plans employers offer may prohibit investing in gold while still working.
You should contact your employer to find out if you can roll over your current 401(k) into a Gold IRA. Through Goldco's IRA services, you can convert your 401(k) into a gold or silver IRA in either the traditional or Roth IRA structure.
Goldco's Tools Available for Investors?
Investing is a serious matter and Goldco's website contains the information you need to start learning and making smart choices. Just hit the "Request One" button to get your free kit. You can jump right into reading the various sections and getting ready for retirement.
The current prices for precious metals are listed on another page of our website. You can use this page to monitor the rise in price and make an informed decision about when to enter the market. Moreover, the pricing data will let you assess the growth of your investments from the time of your initial investment until the present.
Anyone interested in investing in precious metals can find supplementary information in eBooks, videos and a frequently asked questions (FAQ) section on the website. Books on gold and silver purchases, retirement account mistakes and other financial matters are available in electronic format.
How to Establish a Gold IRA, Why Purchase Gold, Stock Market Collapse, 5 Reasons to Roll Over Your IRA to Gold and Can You Trust Mega Banks are just a few informative films.
What Makes Goldco Exceptional?
One of Goldco's primary goals is to make it easy for investors of any experience level to open a self-directed IRA and begin buying precious metals.
Education Opportunities
Goldco provides more than excellent customer service; they also give prospective investors a wide range of possibilities to learn about all aspects of the financial world.
You may learn about the economy's future and how to invest in precious metals by watching films, reading research reports and perusing their blog postings. To achieve this purpose, Goldco is dedicated to educating its customers so that they may make well-informed financial decisions consistent with their long-term objectives.
Goldco's blog discusses various issues, not just metal IRAs and precious metal investments. Financial expertise on recessions and debt burdens are just two of the many themes covered on the Goldco blog, which Goldco's professionals maintain.
Simple Customer-to-Business Interaction
Even after a deal has been finalized, customers can access Goldco's representatives via phone and email for help, clarification and answers to any issues they may have. Goldco's representatives will handle all paperwork associated with the process, from gathering the necessary information to completing the form.
IRA Experts Are Always Available
Goldco's IRA experts are available around the clock, which is one of the company's many strong points. From the very first step of working with Goldco, each client is assigned a knowledgeable agent who will serve as their guide for the duration of the procedure.
Goldco's experts aren't only knowledgeable in their fields and happy to clarify anything consumers aren't clear on, answer any questions and walk them through the entire process. Remember that for Goldcos, the primary objective of the sales process is not to make a sale but to empower clients to make educated and secure purchases.
Final Thoughts
Goldco is one of our top investment recommendations after a thorough company evaluation. The company's 15 years in the industry provide them credibility with many different types of investors.
Services provided by Goldco have received glowing reviews on Trust Link, Consumer Affairs, TrustPilot and Google Reviews. The Business Consumer Alliance and the Better Business Bureau give Goldco high marks. In the past, Goldco has even had the support of Chuck Norris.
Goldco's primary focus is always on the consumer. The company's original concept was based on allowing individuals to open gold and silver IRAs, make direct purchases of physical assets and exercise investment control. Goldco has realized its vision by investing heavily in providing superior customer service, extensive educational materials and a team of highly skilled experts.
Customers are treated like family at Goldco and the company has an everlasting dedication to them. To a large extent attributable to this way of thinking, they have received several compliments and have seen an increase in the number of regular clients. Goldco is a top pick for many since they have established itself as a reliable broker and an industry leader in the precious metals investment space.
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