Are you thinking about rolling over your 401(k) into a gold IRA? Right now, there’s never been a better time to open a gold IRA. The stock market is currently reaching epic bubble proportions that are about to burst. And this is reflected in the current gold price, which is roughly $1880 per ounce at the moment.
Why invest in gold for the long-term? A gold IRA rollover is essential to creating a well-balanced portfolio. I’m not telling you to stop investing in stocks, bonds, or mutual funds. I’m telling you to balance your portfolio with a proper gold investment.
This is especially true right now more than ever. Economic uncertainty is taking place all over the globe. And it doesn’t seem to want to slow down anytime soon. Gold investments thrive during inflationary environments and economic turmoil.
Will you initiate a gold IRA rollover to prepare for the economic downturn? It’s the smartest move you’d ever make to increase your chances of living comfortably in retirement.
Besides everything I’ve already shared, I’d like to mention a few other reasons why a gold IRA rollover is right for you. Keep reading to discover my beliefs about this critically important topic.
Transfer Your 401(k) to Your New Gold IRA for Free Without Penalties
Too many investors fear closing their existing 401(k) account or traditional IRA account because they anticipate incurring large penalties.
Don’t get me wrong? If you initiate the rollover process incorrectly, penalties could incur. But this isn’t guaranteed as long as you do things the right way according to the IRS.
The best part is this process is very simple to complete and your gold IRA account specialist will help you every step of the way. This all but guarantees that penalties will never be a problem.
To get started, just contact your 401(k) custodian and let them know that you intend to transfer funds into a new gold IRA. The custodian will handle everything if you give them permission to. They will send your funds directly to the new account on your behalf without your intervention.
On the other hand, unless you request it your former 401(k) manager will send the distribution check directly to your home. In this case, you’re given 60 days to deposit the funds to with new gold IRA rollover custodian.
If you send the funds within the allotted 60-day timeframe, you have nothing to worry about. If you follow the rules, you do not have to pay any fees or penalties.
Here’s where things could get tricky…
If you fail to send your distribution to the IRA custodian within 60 days, you’ll pay a 10% penalty. And you’ll also have to pay taxes on the distribution.
So, make sure you authorize your 401(k) custodian to transfer the funds directly to your new gold IRA account. This will end any and all confusion and virtually guarantee that you won’t pay penalties due to negligence.
Eliminate Losing Your Wealth Due to Inflation
Whether you realize it or not, inflation is one of the biggest wealth destroyers. And it’s obvious once you think about it in plain English.
As an example, it’s estimated that the cost of bread has gone up 2.75% per year since 1997. This equates to a $5 difference.
So, in 1997 you might have paid $1.50 for a loaf of bread. To buy that same loaf of bread in and 2021, you’ll have to pay $6.50 because of inflation.
Do you see how devastating inflation can be? You do not have to do anything at all and your money becomes less valuable over time.
But you can stop this dead in its tracks.
How so? Initiating a gold IRA rollover is the best way to combat inflation.
You see, as the value of the US dollar becomes inflated, the value of gold tends to rise in tandem.
This investment will make it possible to retain the full value of your money without losing any of its worth.
And it makes sense. Remember, the price of gold in December 2000 was around $400 an ounce. The price of gold today is around $1880 an ounce. That’s a 370% increase over roughly 20 years.
Not too shabby, right?
The best thing you can do to combat inflation is to invest in gold, silver, platinum, and palladium. And the right way to do it is through a gold IRA.
Read my review of the top 10 gold IRA companies in business right now to learn how to get started.
The Demand for Gold Is at an All-Time High
As an investor, it’s always wise to purchase investments that are in high demand. And when it comes to gold and other precious metals, they are in massive demand all around the globe.
In fact, many of the biggest and most powerful countries around the world have massive gold reserves. And these countries continue to further purchase gold by the metric tons each year.
And another thing…
There are currently 10 countries that have the biggest gold reserves throughout the world. Those countries include:
- United States – over 8000 metric tons
- Germany – nearly 3400 metric tons
- Italy – nearly 2500 metric tons
- France – nearly 2500 metric tons
- Russia – more than 2200 metric tons
- China – roughly 2000 metric tons
- Switzerland – over 1000 metric tons
- Japan – nearly 800 metric tons
- India – over 600 metric tons
- The Netherlands – over 600 metric tons
Believe it or not, these countries aren’t done adding to their gold reserves. In fact, Russia, China, and the US continue to buy more and more gold every year. They are stockpiling this hot commodity because it is so incredibly valuable.
Are you ready to begin investing in a gold IRA rollover? Read my review of the top 10 gold IRA companies in business right now. This valuable information will help you choose the proper company and custodian to meet your needs.
A Gold IRA Rollover Will Help You Achieve Bigger Returns
I also wanted to focus on the returns that you can achieve through a gold IRA rollover. As I mentioned earlier, long-term gold buyers in 2000 made a 370% return on their investment in the past 20 years.
How many other investors can make this claim? In my estimation, there aren’t too many who can say that they’ve earned this much money through an investment strategy.
Yet, investing in a gold IRA makes it more than possible for you to earn serious investment returns on a massive scale. But it’s only going to happen if you keep a long-term view because the price of gold does fluctuate every day.
Gold could go through a bad stretch where the value drops for six months. Short-term investors will end up losing money on this proposition. But gold investors for the long-term can wait out the storm and eventually recoup their investments and much more in the future.
That’s why it’s always important to take a long view as an investor. Buying high and selling at a loss in the short term will wreck your portfolio. And it will destroy your retirement future at the same time.
Become a wise gold IRA investor and hold on to your precious metals for the long-term. This all but guarantees that you make large returns and achieve bigger profits in the future.
Who knows? You may end up earning 500% on your gold investments over the next 20 years. The world economy is certainly shaping up in a way that the value of gold will rise precipitously in the future.
To find out more, please read my review of the top 10 gold companies currently working in the space.
A Gold IRA Provides Much-Needed Portfolio Protection
Investors needed major portfolio protection as recently as the first quarter of 2020. When the coronavirus first hit, many investors lost from 30%-50% of their portfolio in a couple of months.
Granted, if they held on to their investments they likely recovered and made a hefty return since then. But there was no guarantee that this was going to happen. The 2008 market crash didn’t fully recover for years after the market finally bottomed out in the early 2009.
Why invest in gold to protect your portfolio? During these difficult economic scenarios and market crashes, the value of gold tends to rise.
How do I know? Over the past year and a quarter, the price of gold rose from roughly $1500 an ounce to nearly $1900 an ounce. That’s nearly a 25% return in a little more than a year.
I don’t know about you, but I definitely prefer making big returns quickly. And this proves beyond the shadow of a doubt that gold gains value during difficult financial situations.
Bottom Line
At this point, you undoubtedly realize that a gold IRA rollover is right for you. With this investment, you’ll achieve greater returns, you’ll have portfolio protection in place, gold is in high demand, you’ll hedge your bets against inflation, and much more.
To get started investing in gold, please read my top 10 review of the best gold IRA companies in the industry. By gathering this knowledge, you can determine the right company to choose to perform your gold IRA rollover.
