Gold 401K – Using Brokers To Manage Gold 401k
The IRS introduced changes to the regulations governing retirement funds to make them more flexible, and to allow the owners of pension schemes the opportunity to invest funds in assets such as gold. When you read or hear about a gold 401k, this is a pension fund that has been fully or partially used to buy gold.
How does it work?
A gold 401k is quite simple to set up. All you have to do is use some or all of the accumulated funds in your retirement account to buy gold. You then need to arrange safekeeping for that gold. When it comes time to start drawing your pension, you sell the purchased gold, hopefully at a much higher price than you paid for it.
Most people will use a service like Regal Assets (their website is here: http://www.regalassets.com/a/2946/ ) to manage the transaction for them. Before you sign up for any given broker service, you will need to do your homework. As you can guess, no service like this is going to be free of charge, so you need to work out how much your investment is going to cost. If you click the Prices link at http://www.regalassets.com/a/2946/ , you
Services that are less than scrupulous have a variety of legal, but underhand, ways of getting you to pay more than you should. For example, some companies will try to encourage you to invest in gold coins, or other collectibles, rather than gold bullion, and then charge highly inflated prices for these products. That can mean paying a huge premium for the coins or collectibles. Gold 401k – Rollovers
Gold 401K – Online research
The Internet is a wonderful tool for checking out the offerings from various brokers, and also finding out what other people are saying about the companies. Before committing your gold 401k funds, you should go online and check with resources like the BBB, BCA and Trustlink to see what they have to say about any broker you are interested in.
You should also do direct searches on the broker names to see what comments people have made on public forums. Remember that people may be unhappy with a particular broker, but decide not to report the broker to the BBB, BCA or Trustlink. You should also keep in mind that brokerages who are recently established have not been in the business long enough to have a true picture of their quality and reliability available.
When you contact a brokerage, you will be talking to an executive who can outline the services provided by that brokerage. It is fine to ask questions about how the company operates, what services it provides, what its fees are, and so on. However, the company executive is unlikely to be a licensed investment advisor, and should therefore not offer you any investment advice.
If you need investment advice, you should contact qualified and regulated financial advisers. These professionals can give you impartial advice on various investment options, including gold 401k investments.
Gold 401K -Risks
Reputable companies will warn you about the risks. For example, on the page for Regal Assets here, http://www.regalassets.com/a/2946/ if you scroll to the end you will see a disclaimer. One of its most important parts explains that past performance is not a guarantee of future performance.
There is always a risk with any type of investment that the underlying asset will reduce in value, and that could have a negative impact on your final retirement fund.
If you click the Price Charts link at http://www.regalassets.com/a/2946/ , you can see the current price of gold and other precious metals, and can look at historical price data as well.
Finally, you should be aware that 401k retirement schemes are managed and controlled by employers rather than the future pension beneficiary. Therefore, there is the possibility that you will not be able to invest in gold, depending on the rules that the employer has in place.
401k Gold Rollover
401k Gold Investing
Physical Gold 401k
Fidelity Gold 401k
Convert 401k into Gold