Investing

Starting an IRA

IRA

Are you struggling with the decision to save money for retirement? If so, starting an IRA could be one useful tool to help you build up your retirement savings. Whether you have 10, 20, 30 or more years left until you plan on retiring and enjoying your golden years with loved ones, it is never too soon (or too late) to start contributing to an IRA.

An individual retirement account (IRA) can also act as somewhat of a safety net for people who are unable to access employer-sponsored plans such as a 401(k). Traditional IRAs are funded with pre-tax dollars, and you can start taking penalty-free distributions from your IRA at age 59 ½.

The strategy of investing in an IRA can be beneficial in numerous ways. From the new investment opportunities an IRA opens up to the peace of mind that comes from growing your retirement savings, starting an IRA can be a very good decision.

Moving Your Money When Starting an IRA

Before you can begin reaping the rewards of retirement savings, you need to figure out what type or IRA you want to open and how you’re going to fund it. You can roll over funds from a 401(k) or similar retirement account to fund an IRA, or you can start an IRA from scratch, although contribution limits apply.

Which investments should you choose for an IRA?

You may want to consult a financial advisor when deciding which IRA investments are best for you. But the number of investments in which you can invest is nearly limitless. From precious metals, stocks, and bonds, to CDs, mutual funds, and ETFs, both traditional and alternative investment assets can be part of your IRA. The expert financial team at Goldco strives to help people like you protect your retirement savings.

If you’re looking to start an IRA and invest in precious metals such as gold and silver, get in touch with the experts at Goldco today.

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