it’s important to determine whether including a gold IRA in your investment portfolio suits your specific circumstances.
Things to Think about Before Starting a Gold IRA Account
Considering adding gold to your retirement savings? A 401k to gold IRA rollover allows you to invest in precious metals like gold.
Choose between Roth and traditional self-directed gold IRA based on tax timing: Roth taxes before, traditional taxes upon withdrawal.
IRA gold investment limit varies by age: Under 50, max contribution is $6,000/year; after 50, it's $7,000/year in a self-directed IRA.
Store precious metals in approved facilities, not self-storage, in an IRA to avoid IRS penalties. Early withdrawal incurs a 10% penalty.
Self-directed gold IRAs charge setup, storage, and management fees ($250-$350 first year, $150-$250 annually). Regular IRAs have lower or no fees, no storage costs.