With the value of precious metals increasing all of the time, more people are looking into investing IRA gold. This retirement account allows an individual to secure the gold and have it accumulate in value, with each passing moment.
An IRA gold plan comes highly recommended, since it offers huge potentials for growth.
The number one reason that someone includes gold in their IRA is for protection against inflation and economic turmoil. Unlike money which looses its value in the event of inflation, gold however does not.
While the economy struggles and the dollar grows weaker, gold actually increases in its worth.
And with the current global economic struggle facing the world today, investing in gold would be a very wise decision for a person to make. It is a known fact that most retirement plans have fallen tremendously in value, while that of the gold plans are increasing year after year.
Another great factor to be considered is having no tax penalties or implications. If IRA gold is transferred into a different retirement or investment plan, there will be no penalties held against the individual. They simply transfer precious metals or a check from one account custodian to that of the gold account. And a person can make as many transfers as necessary, there are set limits on the account.
The other option that is available is called a rollover.
This is when proceeds from an existing account are withdrawn and sent directly to the individual for them to redeposit into another custodial account. But this has to be done within sixty days, in order to prevent any tax penalties or implications on the money that was withdrawn. This same money can only be withdrawn once every year for the preservation of the deferred status to remain.
Both transfers and rollovers can be made in either full or partial amounts.
The Internal Revenue Code requires gold to be at least 99.95 percent pure before it can be invested. Such as the U.S. Buffalo, U.S. Eagle and the Canadian Maple Leaf coins. Gold bullion bars are also approved for investing into the retirement plan.