Best IRA Investment Strategies
With an Individual Retirement Account, you can safely stock away money for the retirement of your dreams. IRA’s can be contributed to annually and are often tax-deductible while your investments are also tax-deferred, meaning you don’t have to pay taxes on your IRA investment until you begin to deduct from it. There are several different types of IRA investment strategies, and which one you choose will depend upon your personal financial goals.
One strategy that has recently risen in popularity is a gold IRA. It is one of the safest IRA investments you can make, as it diversifies your portfolio by investing in something other than paper currency. A gold investment plan will always be worth something, and the price of gold has continued to rise over the past several years, making great wealth for early investors. In fact, gold seems to balance paper currency well. When the value of one is high, the other is low, with the opposite also being true. It provides equality to your portfolio.
How to Invest in an IRA
Depending on which type of IRA you want to invest, you may need a little professional help. The team at Regal Assets can help you purchase and manage your gold IRA accounts, since gold IRA’s are a little unique in that you must use a broker to purchase the precious metals and a custodian to help manage the account. Here are some simple steps that show you how to invest in an IRA.
When you start early with investments, they tend to take a snowball effect, meaning they compound and your return can be reinvested. The more time that your investment has to compound tax-free, the more wealth you can accumulate. Start the habit of investing early, even if you can only afford a little at first. It sets you up for a solid routine the rest of your life.
Many people choose to contribute to their IRA on April 15th, which is tax day. While it is a great decision to invest each year, you might consider investing in your IRA at the beginning of the tax year, which allows it to compound for a longer period of time.
Specialize With a Gold IRA
There are a couple different ways you can specialize your IRA to give you the best return on your investment. One of them is with a gold IRA account. When you add a precious metals IRA into your retirement savings plan, you are banking on something that can never fully lose its value. Gold is a worldwide recognized currency, and one that is becoming scarcer each year. Governments cannot produce more gold, so all the gold remaining on the earth currently is available for smart investors like you. Speak with a professional to learn how you can add a gold IRA account into your long-term savings plan.
Find a Beneficiary
Although you will inevitably die someday, your IRA account will live on. Name a beneficiary so that your account proceeds won’t be subject to unnecessary probate fees and tax penalties.
The Safest IRA Investments
All investments carry some risk, especially those directly connected to the economy. When the economy is doing well, paper currency such as stocks and bonds tends to rise. However, the market has proven to be fickle many times and can quickly drop without anyone anticipating it. That’s bad news for investors who have put all of their money into investments with paper currency.
The smartest investors know that the safest IRA investments are those that are diversified. It’s a good idea to have a mix of different options in your retirement savings plan, including some paper currency as well as non-paper investments like precious metals. If you haven’t yet spoken with a professional about a gold IRA account, now is the time. Gold is a physical asset that can add diversity and balance to your investment options. Not only can it never completely lose its value, but it also balances your paper money investments.
How to Access a Gold IRA Account
You’ve probably realized the potential a gold IRA has to help you gain wealth in your retirement savings account. The value of gold has steadily risen over the past several years, and early investors have been able to see huge rewards for their contributions. Luckily, it isn’t too late, and likely never will be. Although the price of gold has risen, there is still gold available for purchase by savvy investors like you. Here are the steps to access it in your IRA:
Find a Good Broker
Unfortunately, you can’t purchase a few gold bars on the internet and stash them away under your mattress for retirement. The government has certain specifications that must be met in order for your gold to valuable. Fine a reliable broker who can help you find the right amount of gold that meets the government’s requirements.
Locate a Custodian
Since gold is an actual physical item, you will need a location to store it and manage it. This is where a custodian comes into play. Find a reputable custodian by searching through the Better Business Bureau website. Look for a company that has a great track-record and proven history of helping their investors.
Watch Your Wealth Grow
One of the best parts about investing in a gold IRA is that you can steadily watch your wealth climb. While the price of gold may fluctuate from day to day slightly, it has proven over time to continually rise. Hopefully that trend continues for a while. Since gold cannot be reproduced, it is a rare commodity that is likely to become more valuable as the supply diminishes.
Contact a Professional for Assistance
Are you ready to get started on a smart investment strategy? Speak with a professional about your own gold or precious metals IRA account. The team at Regal Assets is filled with experts in the industry who can help you get started. Remember, starting early is one of the best decisions you can make when it comes to your retirement savings. Call today to learn more.