Silver IRA

What is a Silver IRA?

What are you doing to save for retirement? It seems that many Americans are struggling to build their nest egg. However, there is a simple saving solution – opening a silver IRA. In 1974, the US Government passed a law called the Employment Retirement  Income Security Act (ERISA). This law allowed people without a traditional employer-sponsored retirement account like a 401(k) to begin leveraging the same tax benefits of traditional retirement accounts in the form of an Individual Retirement Account. In the 1990’s this program expanded to allow individuals to invest in non-tradtional investments such as real estate, bonds, private companies, and precious metals. Silver is a monetary metal and when included in a retirement savings portfolio, can help diversify your retirement portfolio. A long-term strategy for securing a financial safety net, a silver IRA can protect against the inevitable market downturns. Launching an account or rolling over your existing 401(k) into a silver IRA will enable you to maximize profits. Our experts are ready to help secure your financial future today. Just give us a call.

The Silver IRA Rules

Every individual retirement account has a particular set of rules, and a silver IRA is no exception. Nevertheless, the rules are pretty much the same as they are for a conventional IRA. The only real difference is the type of investment held inside the IRA. Standards set by the IRS are somewhat strict and must be adhered to if you are to invest legally. Once an application has been filled out, a custodian must be selected to manage and oversee the account. A depository will be chosen for the storage of the silver assets, of which must be on the list of pre-approved products.  To avoid potential problems, read the latest IRS Publication 590 information.

Examples of accepted silver coins include:

It is definitely worth exploring your options in regards to silver bar investments, too. Look for bars that are high in purity and are branded by the best. Our most popular choices include:

  • Britannia Lunar Year of the Rooster
  • Australian Saltwater Crocodiles
  • 20th Anniversary Britannia
  • Silver Eagles

See the full list at our IRA Approved Silver page.

Getting Started

Putting all of your retirement funds into stocks and bonds is a very risky thing to do. In fact, it is something that every experienced investor will avoid doing because, after all, putting all your eggs in one basket is never wise! Building a nest egg for a comfortable retirement requires a diversification strategy, so why not start a silver IRA? Even if you are already contributing to a savings plan, such as a 401(k), you can also have a silver IRA.. Otherwise known as a “self-directed IRA”, a silver IRA can be relied on as a shield from stock market threats. What’s more, you can diversify your portfolio with more than just shiny silver assets. Platinum, palladium and gold assets can be acquired to make a savings portfolio more balanced. Let’s learn more about how to start a silver IRA.

Follow the Rules to Start a Silver IRA

If you are already contributing to a conventional IRA, you won’t need to worry too much about learning a whole new set of rules, because the only real difference is that you can directly transfer your existing IRA funds into a silver IRA. However, precious metals in a silver IRA must be held by a legal custodian after you perform a silver IRA rollover. IRA contribution limits do apply. These limits vary depending on age, so seek financial advice to ensure you build your retirement nest egg correctly.

Open your silver IRA today with a helping hand from the financial experts at Goldco. Contact the team if you have questions about setting up an account and making contributions.

Looking to put gold into your IRA? Check out our Gold IRA page for more information