It is important to know if your metals will be stored with the metals of other investors. While many IRAs offer you the ability to keep your gold in separate storage, beware of any IRA that offers investors the option of storing it in their own home.
This is not an IRS-approved IRA investment method and will result in potential tax penalties. Avoid companies that offer “checkbook IRAs,” “collectibles,” or the possibility of “home storage” in a safe or bank deposit box.
There are dozens of gold IRAs available today, with many specifically geared toward retirees. Also, not all IRA needs are the same.
Five companies have entered the list of the most reliable and with the best overall investor satisfaction.
Oxford Gold Group is also a notable company to keep on your radar. Here’s what we did to come up with our best gold IRA options.
Many of the top companies are mentioned numerous times on TV, radio, and social media. These are the companies most likely to be used by consumers, so we start with them. We also refer to the lists of “top gold IRA” sites for startups you may not have heard of. Then we go a little deeper.
Credentials
In light of our expert-identified need for IRS approval, we checked to make sure our worksheet of companies was licensed to deal in gold and bullion services, as well as manage trading accounts. retirement approved by the IRS.
Starter Kits
Most companies allow you to call for a starter kit or more information. We wanted to narrow the list down to those who would answer your questions right away, either with a live chat representative, or an easy-to-use request form. Businesses that responded within a few days (or faster) stayed on our list.
Consult Clients
While you can’t trust everything you read online, it’s easy to see a trend among businesses in the reviews and comments left by customers. Negative reviews were investigated to see if the issues were resolved.
A company with a bad review that fixed the problem was more likely to be included than a company with all the good reviews (because no one is perfect).
Compare Costs
At the end of the day, your retirement plan is about having enough money to live – and prosper – in your later years. If your savings are depleted by high commissions or dodgy charges, it’s not for you.
That is why we looked at the initial costs and tried to find companies that would balance costs with benefits. In other words, the value is what matters.
Superior Service
Do you need a company that can ship your real gold (or cash equivalent) without additional fees or shipping charges and with a guarantee of punctuality?
Are you interested in a high-tech storage facility? These premium benefits are readily available, and the best companies excel at giving them to their customers at no additional cost.