Start A Silver IRA
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.
Eligible Metals for a Silver IRA
The answer to this question is, “Yes, silver bars are a SMARToption for retirement investing because they tend to have low premiums.” An option for protecting your wealth for the future, silver bars come in varying weights, with the most popular weights being 1 oz, 10 oz, and 100 oz. Whichever weight you opt for, remember to inspect the bar for its stamp. Bars made by respected brands like Johnson Matthey and Royal Canadian Mint (RCM) must be stamped if they are to be approved when you start a silver IRA. You must make sure that the coins you choose when you start a silver IRA have a minimum fineness of .999, and that they are eligible. Check out our IRA Approved Silver page to learn more about which coins you can add.
The team of friendly financial experts at Goldco will not only help you to start a silver IRA but also, they will offer valuable advice about the best investments. Get in touch for more information.