Planning for retirement involves making critical financial decisions, and one of the options individuals often consider is the diversification of their retirement portfolio. While traditional investments like stocks and bonds are common choices within 401(k) plans, some individuals are intrigued by the idea of holding precious metals like gold within their retirement accounts. This leads to the question: Can you roll your 401(k) into a Gold IRA? In this article, we will explore the intricacies of this topic, delving into the pros and cons associated with such a move.

Understanding 401(k) and Gold IRAs

Before diving into the pros and cons, it’s important to understand what both a 401(k) and a Gold IRA are:

401(k): A 401(k) is a retirement savings plan sponsored by an employer. It allows employees to save and invest a portion of their paycheck before taxes are taken out. These contributions are often matched by the employer up to a certain percentage. The investments within a 401(k) are typically limited to a selection of mutual funds, stocks, and bonds chosen by the employer.

Gold IRA (Individual Retirement Account): A Gold IRA, also known as a Precious Metals IRA, is a self-directed retirement account that allows individuals to invest in physical precious metals, such as gold, silver, platinum, and palladium. This type of IRA offers more control over investment choices compared to traditional 401(k)s.

How to Roll Your 401(k) into a Gold IRA: Step-by-Step Guide

Rolling your 401(k) into a Gold IRA involves several steps and requires careful consideration of various factors. Here’s a step-by-step guide to help you navigate the process:

Step 1: Research and Understand Your Options

Before making any moves, educate yourself about the different types of IRAs and the regulations surrounding gold investments in retirement accounts. Traditional IRAs and Roth IRAs are the most common options. Traditional IRAs offer tax-deferred growth, while Roth IRAs provide tax-free withdrawals. Self-directed IRAs, including Gold IRAs, allow more flexibility in investment choices.

Step 2: Choose a Gold IRA Custodian

To establish a Gold IRA, you’ll need a custodian who specializes in precious metals. Research reputable custodians and compare their fees, services, and track record. Ensure that the custodian you choose is IRS-approved for handling precious metals within IRAs.

Step 3: Open the Gold IRA

Once you’ve selected a custodian, work with them to open your Gold IRA account. This involves completing paperwork, providing necessary identification, and designating beneficiaries.

Step 4: Fund Your Gold IRA

There are two primary ways to fund your Gold IRA:

1. Direct Rollover: If you’re leaving your job or retiring, you can directly roll over your 401(k) funds into your Gold IRA. This is a tax-free transaction as long as the funds move directly from your 401(k) plan to the custodian.
2. Indirect Rollover: If you receive a distribution from your 401(k), you have 60 days to complete an indirect rollover. However, this method requires you to deposit the distribution amount into your Gold IRA within the 60-day window to avoid taxes and penalties.

Step 5: Select Gold Investments

Consult with your chosen custodian to explore the various options for investing in gold. You can invest in physical gold coins or bars, but there are strict IRS regulations regarding the types of coins and bars allowed in IRAs. Ensure that your chosen gold products meet these criteria.

Step 6: Purchase Gold and Store It Securely

Once you’ve chosen your gold investments, work with your custodian to purchase the gold on your behalf. The custodian will arrange for the safe storage of the gold in an IRS-approved depository. Keep in mind that storage fees will apply.

Step 7: Monitor and Manage Your Gold IRA

Regularly review the performance of your Gold IRA and consider how it fits into your overall retirement strategy. While gold is a valuable diversification tool, remember that it’s just one part of your portfolio. Adjust your investments as needed to align with your goals and risk tolerance.

Step 8: Stay Informed and Seek Professional Advice

The world of retirement planning and precious metals investments can be complex. Stay informed about market trends, economic conditions, and changes in regulations that could impact your Gold IRA. Whenever you’re unsure, seek advice from financial advisors who specialize in retirement planning and precious metals.

Rolling your 401(k) into a Gold IRA can be a strategic move for diversifying your retirement portfolio and hedging against economic uncertainty. However, it’s not a decision to be taken lightly. Research, careful planning, and expert advice are essential components of successfully navigating this process. By understanding your investment goals, risk tolerance, and the mechanics of Gold IRAs, you can make an informed decision that aligns with your retirement aspirations.

Pros of Rolling a 401(k) into a Gold IRA:

1. Diversification: Precious metals like gold have historically acted as a hedge against economic downturns. Including gold in your retirement portfolio can potentially reduce overall risk by diversifying your investments beyond traditional assets.
2. Inflation Hedge: Gold has a reputation for preserving value during times of inflation. If the value of traditional currency declines due to inflation, the value of gold may rise, helping to maintain your purchasing power.
3. Portfolio Protection: During times of market volatility or geopolitical uncertainty, the price of gold often tends to rise. Having gold within your retirement portfolio could provide a measure of protection against sudden market fluctuations.
4. Tax Advantages: If you opt for a Gold IRA, you can potentially enjoy the same tax advantages as other retirement accounts. Traditional Gold IRAs offer tax-deferred growth, while Roth Gold IRAs provide tax-free withdrawals.

Cons of Rolling a 401(k) into a Gold IRA:

1. Lack of Income: Unlike stocks or bonds, gold does not generate income such as dividends or interest. This means that relying solely on gold for retirement may not provide a steady income stream during your retirement years.
2. Storage and Fees: Physical gold requires secure storage, which can come with associated costs. Additionally, setting up and maintaining a Gold IRA might involve administrative and storage fees.
3. Limited Growth Potential: While gold can act as a hedge against economic uncertainty, its long-term growth potential may not match that of other assets like stocks. Over the long term, the value of gold may not appreciate significantly.
4. Complexity and Risk: Managing a self-directed Gold IRA requires a good understanding of the precious metals market. Making the wrong investment decisions could lead to losses, and the value of gold itself can be volatile.

Considerations Before Making a Decision:

1. Investment Objectives: Consider your retirement goals and investment preferences. Are you seeking stability and wealth preservation, or are you aiming for aggressive growth?
2. Risk Tolerance: Evaluate your risk tolerance carefully. Gold can be volatile, and its value can fluctuate over shorter time frames.
3. Diversification: Remember that diversification is key to a balanced portfolio. Including a reasonable amount of gold could provide some benefits, but overreliance on it might not be ideal.
4. Expert Advice: Before making any decisions, consult with financial advisors who specialize in retirement planning and precious metals investments. They can provide tailored advice based on your individual circumstances.

In conclusion, while rolling a 401(k) into a Gold IRA has its merits, it’s essential to weigh the pros and cons carefully. A well-diversified retirement portfolio might include a mix of traditional assets and precious metals. Understanding your financial goals, risk tolerance, and seeking advice from professionals can help you make an informed decision that aligns with your retirement aspirations.

Understanding T. Rowe Price’s Investment Strategy: Does it Include Gold?

When it comes to investing, diversity in your portfolio is an integral part of ensuring stability and managing risk. A diversified portfolio includes a mix of different types of investments, such as stocks, bonds, and possibly commodities such as gold. One frequently asked question we’ve encountered pertains to the investment strategies of T. Rowe Price, a highly reputable global investment management firm: “Does T. Rowe Price invest in gold?” This blog post aims to provide some clarity on the topic.

Understanding T. Rowe Price

Firstly, let’s get a grasp on T. Rowe Price’s overall approach to investments. Since its inception in 1937, T. Rowe Price has been known for its strategic, disciplined approach to investing, focusing heavily on in-depth proprietary research. This diligent strategy helps the firm to navigate the complex terrain of global markets effectively and provide its clients with strong potential returns on investments.

T. Rowe Price’s Investment in Gold: An Overview

Coming back to the query, “Does T. Rowe Price invest in gold?” the answer is not a straightforward ‘yes’ or ‘no’. The firm itself, as a financial institution, does not directly invest in physical gold or other commodities. Instead, they offer a variety of funds that their clients can invest in, some of which may have exposure to gold and other commodities.

For instance, certain T. Rowe Price funds might invest in gold indirectly through gold mining stocks or Exchange Traded Funds (ETFs) that track the price of gold. The percentage of gold-related investments in these funds varies and depends on the fund’s specific investment strategy and objective.

Investing in Gold: Pros and Cons

Gold is often considered a “safe haven” investment due to its value preservation characteristic. It is traditionally believed to maintain its value over time and even potentially increase during economic downturns or periods of high inflation, thereby providing a hedge against market volatility.

However, investing in gold also has its downsides. Gold does not produce cash flows like stocks (in terms of dividends) or bonds (in terms of interest), which means investors primarily rely on price appreciation for returns. Furthermore, the price of gold can be quite volatile, and its performance is often inversely related to the stock market. Therefore, when stocks are performing well, gold investments might underperform.

It is important to note that while some funds from T. Rowe Price might have exposure to gold or gold-related investments, these typically form only a small part of the overall portfolio. The firm’s investment strategy focuses on diversification across various sectors and asset classes to manage risk and strive for consistent long-term performance.

Conclusion

To conclude, while T. Rowe Price does not directly invest in physical gold, some of its funds may have exposure to gold-related investments as part of a diversified portfolio strategy. As always, potential investors should consider their risk tolerance, investment goals, and timeframe before deciding to invest in gold or any other type of asset. It is also beneficial to consult with a financial advisor or investment professional to make informed investment decisions.

Remember, investing involves risks, including possible loss of principal, and there’s no guarantee that any investment strategy, including diversification and asset allocation, will be successful. Past performance cannot guarantee future results.

The Oxford Gold Group is a well-known name within the precious metal industry, making waves with its stated commitment to providing consumers a safe, secure, and efficient way to invest in gold, silver, platinum, and other precious metals. But how reputable is this company? As with any major investment, it’s crucial to do your homework before diving in. In this article, we’re going to explore the reputation of the Oxford Gold Group to help you make an informed decision.

The Company’s Background

Founded in 2017, the Oxford Gold Group has quickly established itself as a player in the precious metals market. Based in Los Angeles, California, the company offers a range of services to its clients, including the sale of physical gold and other precious metals, setting up precious metal Individual Retirement Accounts (IRAs), and providing resources for those looking to understand the complexities of the precious metals market.

Customer Reviews and Ratings

At the time of writing, the Oxford Gold Group maintains an A+ rating with the Better Business Bureau (BBB), a not-for-profit organization that focuses on advancing marketplace trust. It’s important to note that an A+ rating is the highest possible score given by the BBB, which factors in several aspects of a company’s business practices, including transparency, honesty in advertising, and customer complaint resolution.

Moreover, Oxford Gold Group boasts positive customer reviews across multiple platforms. These reviews often highlight the company’s knowledgeable and helpful customer service, secure and efficient shipping, and overall professionalism. The testimonials also underline that the company takes the time to educate its clients about their investments, an important factor for many who are new to the precious metals market.

Industry Memberships and Accreditations

In addition to its A+ BBB rating, the Oxford Gold Group is a member of notable industry organizations such as the American Numismatic Association (ANA) and the Industry Council for Tangible Assets (ICTA). These memberships reflect the company’s commitment to ethical business practices and professional standards.

Additionally, the Oxford Gold Group is Consumer Affairs accredited, a recognition reserved for businesses that meet the organization’s strict guidelines for transparency, customer service, and business integrity.

Policies and Practices

A company’s reputation extends beyond customer reviews and industry accreditations; it also involves their day-to-day business practices. The Oxford Gold Group’s practices, such as its price match guarantee and its commitment to delivering tangible assets securely and efficiently, have been commended by clients.

The company also prioritizes educating its customers. It offers a range of resources, including guides and expert consultations, to ensure that clients understand their investments. This dedication to consumer education demonstrates the Oxford Gold Group’s commitment to transparency and customer satisfaction.

In Conclusion

Based on the available evidence up to August 2023, the Oxford Gold Group appears to be a reputable company within the precious metal investment industry. The company has high ratings and positive reviews from customers, maintains memberships with respected industry organizations, is accredited by recognized entities, and is committed to transparency and customer satisfaction.

However, as with any investment, potential investors should always conduct their own due diligence. Check the most recent reviews and ratings, read the company’s policies carefully, and consider seeking advice from a financial advisor or other experts in the field before making a decision.

Goldco focuses specifically on IRAs for gold, silver, and other precious metals. They specialize in wealth and asset protection by helping investors rollover conventional individual retirement accounts into a specialized IRA that can hold physical precious metals. Goldco can also buy back your precious metals, or sell them on the open market when it comes time for the investor to take their required minimum disbursement.

About Goldco:

Based in California, Goldco was founded in 2006 by Trevor Gerszt. The focus of Goldco from the very beginning has been to help investors with self-directed IRA accounts that can hold precious metals, with gold being the most popular, followed by silver, platinum, and palladium.

The company has become known for making the process of rolling over a 401k or existing retirement accounts into tax-advantaged accounts that are allowed to hold precious metals. Goldco has an intense focus on customer service, and it shows. They are the highest-rated gold company on the internet. Whether you visit TrustPilot, the Beter Business Bureau, or Google, anywhere you find reviews online will show overwhelmingly positive reviews from clients of their experience with Goldco.

Goldco has been named to Inc.’s 5,000 list of fastest-growing private companies. They received this honor in 2015, 2016, 2017, 2018, and 2021.

Why You Should Consider Investing with Goldco:

Do you get worried that some of the world’s largest businesses Facebook and Amazon can drop 20-25% overnight? The volatility in the stock market is getting more and more intense, with dramatic swings both higher and lower. It seems that the stock and bond markets have become manic.

If you would like to protect a portion of your retirement savings from this volatility, a precious metals IRA may be a good fit for your needs. Gold and silver also appeal to investors that prefer to have real tangible assets, and not so a piece of paper that gives you partial ownership in a company that may not even exist 10 years down the road.

In general, gold and silver hold their value well, especially over long times frames. Not only are these precious metals in limited supply, you can’t just push a button and magically create trillions more of supply, but both gold and silver have actual real-world uses. This combination of factors means there will always be a steady demand for metals.

While any investment has risks, the gold market has been relatively stable, so if you are looking to minimize your downside, this can be a good option. Also, when gold goes into a bull market, it historically will last about a decade. Can your portfolio benefit from a sustained bull market?

Goldco is a brokerage that provides precious metals IRAs that follow IRS guidelines as published in the Taxpayer Relief Act of 1997, which made these types of accounts possible. While Goldco can help you create your account, and buy and sell precious metals, they do not store your precious metals because they are not a custodian. The IRS requires a custodian to administer and report the assets in an IRA. Goldco has relationships with several custodians that they can recommend for you.

Pros:

-They specialize primarily in precious metals IRAs

-They have been in business for more than 15 years, longer than most of the competition

-They have the most positive reviews of any of their competitors

Cons:

-Goldco is not a custodian so they cannot store your metals.

-Minimum of $25,000 investment

What is a Safe Haven Asset?

Anyone that remembers the Great Financial Crisis (GFC) of 2008 will remember how common it was for investors who had saved up for decades to experience shock as their 401k and IRAs dropped in value by half. Once this happened, investors had no options. Lessons were learned the hard way.

To protect your wealth against these catastrophic losses you need to have a percentage of your portfolio in safe haven assets. These are assets that retain their value, and sometimes even increase in value, as the rest of the market plummets.

Gold is a safe haven asset because it has always retained some value. There will always be a demand for gold because it is used as money, it is used in industrial applications, and of course, it’s used in jewelry. Gold has never gone to zero, and there is a huge global market for gold, which means you will always be able to get your money out, even if markets are tanking.

Goldco Products and Services:

Goldco offers two primary services which are Gold IRA and Silver IRAs and selling gold bars, and coins. Goldco is a broker, they can assist you with setting up IRAs and help you purchase and sell precious metals, but they are not a storage facility or a custodian of your metals. Goldco has custodians that they trust and can recommend for their clients.

There are various ways to fund an IRA account, one of the most popular ways is to rollover an existing retirement account like a 401k into a precious metals IRA. This can be a somewhat complicated maneuver and Goldco has developed expertise with this transaction to make it as safe and as simple as possible for clients.

Since Goldco’s specialty is IRAs, they focus on selling gold and silver coins that are IRA eligible. Not all gold and silver coins qualify to go into an IRA, and Goldco can help you avoid these mistakes. The IRS requires that gold coins and bars have to be at least 99.5% pure, and silver coins and bars have to be at least 99.9% pure, to be allowed in a precious metals IRA.

Here is just a small sample of the coins that Goldco sells that meet or exceed these requirements are:

Gold IRA Eligible Coins:

American Eagle – Type 1 – Producer: US Mint

American Eagle – Type 2 – Producer: US Mint

American Eagle Proof – Producer: US Mint

Australian Striped Marlin – Producer: Perth Mint

Maple Leaf – Producer: Royal Canadian Mint

American Gold Buffalo – Producer: US Mint

Freedom Coin – Producer: New Zealand Mint

Freedom and Hope – Producer: Royal Dutch Mint

American Bald Eagle – Producer: Perth Mint

Lucky Dragon – Producer: Royal Canadian Mint

Silver IRA Eligible Coins:

Chuck Norris 1 oz. silver coin – Producer: New Zealand Mint

American Eagle – Type 1 – Producer: US Mint

American Eagle – Type 2 – Producer: US Mint

American Eagle Proof – Producer: US Mint

American Bald Eagle – Producer: US Mint

Australian Spotted Eagle Ray – Producer: Perth Mint

Australian Striped Marlin – Producer: Perth Mint

Great Barrier Reef – Producer: Perth Mint

Liberty Coin – Producer: New Zealand Mint

Military Guinea – Producer: East India Company

IRA Rollovers:

A rollover is when an investor moves funds from an existing retirement account like a 401k, into a Traditional IRA, or a Roth IRA. Most investors will choose to do a direct rollover which is when you move funds directly into an IRA.

The other method is an indirect rollover where the investor takes possession of their retirement fund, then places it into an IRA. In general, Goldco does not recommend this method as there is too much that can go wrong, and the investor can end up with a substantial penalty from the IRS.

One of the most common situations that cause an investor to create a rollover is leaving a job in which they have an existing 401k, and they move their savings to an IRA so they can still enjoy the tax benefits of these retirement accounts.

To begin the rollover process, you simply need to instruct your current IRA custodian to cut a check and send it to your new IRA’s custodian. This is the direct method. If you instruct your current custodian to send the check to you, and you cash it, you have 60 days to deposit the funds in the new IRA account. If you don’t, you get excessive penalties from the IRS.

If you are not sure if a direct or indirect is best for you, it’s best to choose the more popular direct rollover. Goldco has representatives that are knowledgeable and can help you understand this process and make the choice that is best for you. They also have Free Information Kit that will help to educate you as well.

How to Start a Gold IRA with Goldco:

The first step you probably want to take is to get Goldco’s Free Information Kit. Next, a Goldco representative will follow up with you via a phone call to assess your needs and make sure that a precious metals IRA is compatible with your investment goals.

As with any account of this nature, you’ll be asked to provide identifiable information like a social security number, your mailing address, etc. If you don’t already have an IRA custodian that is eligible to hold precious metals, Goldco can help you create an account with the custodians that whom they have long-standing relationships.

Once you have an account set up, Goldco will work with you and explain all the different types of precious metal options that are available for investment in your IRA. While the process sounds a bit complicated, Goldco has guided thousands of clients through this process with great success.

Goldco Reviews:

Better Business Bureau (BBB): 4.9/5 from 211 Reviews

“Robert Morlock made the entire transaction seamless and explained every step along the way. Wonderful service and am very happy with this company!” – Janette N.

Google: 4.8/5 stars from 527 Reviews

“Everyone I’ve worked with has been very friendly, as well as very informative and helpful. I was impressed with their continual patience dealing with a person brand new to the thought of purchasing precious metal, and especially with all of my questions. I so appreciate how Rad also made sure to have me share my reasons in wanting to purchase precious metals, as well as addressing my concerns. Finding GoldCo is a blessing!” – Jill

Consumer Affairs: 4.8/5 stars from 575 Reviews

“All of the representatives at GoldCO were very informative, professional, and helped me through the process. I did a roll over IRA and it was easy to do and they were very streamlined. They were not pushy and sent me literature to read prior to deciding what I wanted to do. My experience so far has been very pleasant and I would recommend them for anyone looking into a precious metals IRA.” – Vicki from Utah

TrustPilot: 4.7 stars from 645 Reviews

“I can not express how the way Goldco from the first inquiry to the last made me feel as if I was in good hands. They were instructive and guided me through each step I made and were patient with each question I asked and made sure I understood. I do not believe I would have made the huge step toward securing my finances with out their assistance. Ever so grateful.” – Maggie

TrustLink: 5/5 stars from 253 Reviews

“I had a wonderful experience. The representatives were very helpful and knowledgeable. Excellent customer service and I would refer family and friends.” – Susan L.

Conclusion:

Your retirement nest egg is the result of your life’s hard work and diligent savings that must not only sustain you but provide a comfortable lifestyle for yourself and your family. Decisions on how you structure your investments, and who you choose to work with to protect your wealth should not be taken lightly.

This is why Goldco is our top recommendation for any investor looking to diversify their portfolio by adding physical precious metals to their retirement accounts. Out of all the companies we have worked with and researched, Goldco is the best due to their customer service and putting their clients’ needs first.

Goldco has the most positive reviews out of any of the competitors in the space for a reason. The trend is clear, governments will continue to recklessly spend and print more money eroding the value of the savings that generations of hard workers have saved for retirement. Protect your future now, by contacting a Free Information Kit from Goldco today.

Rolling over a 401k to an IRA is a common practice. People are always leaving their jobs or life changes and therefore your retirement account needs to change, this is normal, but it’s good to know how to do this correctly so you don’t pay any extra taxes.

Another reason that rollovers are used is to diversify the assets in your portfolio. If you want to add some precious metals to balance your portfolio with something that is not correlated to traditional stocks and bonds, you’ll have to set up a special type of IRA that allows this.

This is why it’s a good idea to consider a 401k to gold IRA rollover.

What is a Gold IRA?

That’s a great question. In 1997 Congress passed the Taxpayer Relief Act. Among other things this allowed savers to hold precious metals in a special IRA account that is handled by a custodian. This is commonly known as a gold IRA, but you are not limited to holding just gold. You are also allowed to hold silver, platinum, and palladium.

A feature of Gold IRAs is that they are self-directed. You are allowed to have gold (and other precious metals) in the form of bullion, bars, and coins, as long as the coins meet a strict purity standard.

These accounts are similar to other accounts in that there are contribution limits, and required minimum disbursements, just like traditional IRAs.

Are All Precious Metals Allowed in a Gold IRA?

No, there are strict requirements you must follow, otherwise, you can be hit with onerous tax penalties. The IRS mandates purity standards that must be met. Here are the purity requirements for eligible metals:

• Gold has to be .9950 pure
• Silver hast to be .9990 pure
• Both Platinum and Palladium must be .9995

You are not allowed to hold collectible coins in your account, and the coins you do hold must meet the purity standards above because the IRS wants the metals to be as close in value to the spot price of the metal as possible. This is because it is easier to assign a market value and also assign proper tax value as well.

How To Create A Gold IRA

First off, we will outline the steps to set up a gold IRA and the rollover process, but it is important to know, you are best off if you partner with a reputable precious metals company that has expertise with these types of accounts.

Onward.

First, you need to create a self-directed IRA. A self-directed IRA is an individual retirement account that gives you more control over what assets you invest in. This is why you can invest in precious metals with a self-directed account.

Next, you will need to find a custodian for your IRA. If you have partnered with a reputable gold company to create your account they will be able to recommend custodians that they have worked within the past, and are known to be safe and secure.

The reason you need a custodian is that you, as the investor, are not allowed to hold or take custody, of your precious metals. That is why there are companies designed specifically to do this.

Now that you have a self-directed account, and a proper custodian, now you’ll need to collaborate with a reputable precious metals dealer. Ideally, you start this process by connecting with a reputable precious metals dealer, because they can walk you through this process making it much easier.

Next, you instruct your precious metals dealer as to which metals you want to purchase. Once the purchases have been made the metals are transferred to your custodian.

When you reach your retirement, or by the time you turn 72 years old, whichever comes first, per IRS regulations, you have to start taking your required minimum distributions. You can either sell the metals on the open market, or you can take physical possession of them. In either case, the IRS treats both as a distribution and therefore a taxable event.

Why Should You Rollover a 401k to a Gold IRA?

When Congress first created these tax-advantaged individual retirement accounts, they thought they had done what the constituents wanted. While IRAs were a step in the right direction, they were incomplete.

The IRS would not allow you to hold physical precious metals. This was a huge mistake because the precious metals markets are some of the oldest markets in the world.

People have been using gold and other precious metals as a store of value for as long as we have recorded history. There needed to be a way to invest in physical gold in an IRA account because so many savers and investors demanded it.

Congress fixed this error in 1997 by allowing investors to add physical gold to specialized IRA accounts.

While traditional investments like stocks are popular to fill a 401k with, they are very volatile and a 401k does have a significant amount of risk that comes with it.

You flatten out your risk exposure, creating an IRA that can hold gold. Gold does not have the violent moves that equities do, and gold never goes to zero, it always has value.

Humans throughout history have admired and valued when they have held a gold bar or coin that is at least .9950 pure in their hands. The same cannot be said for holding a stock certificate or a bond from a company that no longer exists.

The 401k to Gold IRA Rollover Process

Now that you created a gold IRA it is time to fund it by rolling overall or a portion of your existing 401k. There are two steps to choose from when rolling over your 401k, an indirect rollover, or a direct rollover.

Indirect Rollover:

For an indirect rollover, you are responsible for removing the funds from your 401k account and then depositing them into your new IRA account. Indirect rollovers are more complicated. You also have a time constraint.

Once you receive your funds the clock starts ticking, you only have 60 days to get your money into the possession of either your IRA company or your custodian. If you do not move the money in the 60 days, the IRS considers the funds you withdrew to be a taxable event.

To make matter worse, if you are under the age of 59.5 years old, the IRS will add a 10% early withdrawal fee. The IRS is also notoriously unforgiving to errors or accidents or really anything that falls outside of these strict rules.

Direct Rollover:

With a direct rollover, you instruct your 401k to send the money directly to your new IRA account. In a direct rollover, you do not handle your funds at all.

Which is better Indirect or Direct Rollover:

For most investors, the most popular choice is a direct rollover. There are fewer moving parts and fewer things that can go wrong. With indirect rollovers, the chance of the investor making an error that causes the IRS to hand out a penalty is much greater.

Unless you have talked with a tax professional and have very specific well-defined reasons for doing an indirect rollover, avoid it and go with the nearly fool-proof direct method. If you are unsure which method is best for your situation, consult a tax specialist, or just don’t risk it and use the direct rollover.

Is a 401k to Gold IRA Rollover Right For You?

How diversified is your current portfolio? If it’s not diversified, would you like to fix that problem? Do you want to add some assets that are non-correlated, meaning their prices don’t move up and down in tandem with traditional investments like stocks and bonds? If you answered Yes, to one or both of these questions, then you should consider converting a 401k to gold IRA rollover.  

If you speak to a smart investment advisor, they will tell you that the advantage of precious metals is that they behave differently than all other asset classes. When stocks and bonds are shooting up in price because of low interests rates, precious metals often do not rise. Conversely, when the financial world is collapsing, precious metals often do not fall as far as stocks, bonds, and real estate.

You want a retirement portfolio to be well balanced. If everything in your portfolio goes up at the same time, then it is likely to all drop at the same time. This is not the way to have a relaxing retirement. By the time you have earned your retirement, you want your portfolio to be in the “Goldilocks zone”, not too hot, not too cold, but just right. Precious metals are great for providing this balance.

Of course, the price of gold and other precious metals does rise and fall like every other asset. Gold in particular just does not seem to fall as far once it has gone on a bull run. As of this writing, the all-time high gold price is $1,930 an ounce. For it to fall to $800 an ounce, and 50 percent decline, would be highly unlikely. Also, no matter what, the price of an ounce of gold will never go to $0 an ounce. There are many stocks and bonds that go to zero.

This is the power of precious metals, they are not exciting until the financial markets go haywire, then investors love them for their non-excitement and stability.

Making Your Rollover Decision

If you have decided that you would like more control over your investment options, and are tired of those same old high fee mutual funds that you are restricted to putting the money in your 401k into, then your next step is to find a reputable precious metals company to work with to get your 401k to gold IRA rollover process started.

We have researched nearly all the companies in the precious metals investing business and there are two that stand far above all the others.

Our top recommendation to help you with your rollover is Augusta Precious Metals. Some features of Augusta Precious Metals that make them our top recommendation are:

– $50,000 Minimum Investment

– Complimentary portfolio reviews for all clients

– Unique, free one-on-one educational web conference

– No management fees; up to 10 years of custodial/storage fees paid by Augusta for you

– Admits gold and silver are not for everyone and performance cannot be guaranteed

Our #2 recommendation to help you with your rollover is Goldco. Some benefits of choosing Goldco that make them our second highest recommendation are:

– Low minimum starting investment of just $25,000

– Full transparency

– Low transaction fees

– Great customer services

– Client reviews are the best in the business

Summary

There are many benefits of diversifying your retirement savings by rolling over all or a portion of your 401k into a Gold IRA. We recommend both Augusta Precious Metals and Goldco, both companies operate to the highest ethical standards and have the best reviews from their investors compared to all the other competitors.

If you want control over your investment options, protection from stock market volatility, and a trusted partner to help you reach your retirement goals, contact Augusta Precious Metals or Goldco today.

Located in the heart of Los Angeles, California, Oxford Gold Group is a gold and precious metals firm that assists its customers in purchasing and also selling gold and various other precious metals. They also offer other services like setting up gold and silver individual retirement accounts (IRAs), which allow their customers to invest in a variety of precious metals in a tax-sheltered account.

If you are considering spending money with Oxford Gold Group, keep reading this review to find out if they are a good fit for your particular investment goals.

Oxford Gold Group Products & Services

Oxford Gold has a lot of resources on their website from educational to “how-to” articles. Their primary services are physical precious metals, specialized individual retirement accounts (IRAs), and educational materials.

Gold, Silver, and Precious Metals IRAs

IRAs are a special type of account designed by the IRS to encourage folks to save and invest for retirement on their own. To encourage this behavior the money deposited into these accounts is not taxed until the money is required to be removed when the investor reaches retirement age.

While most investors are familiar with these types of savings accounts, the IRS puts certain restrictions on these, especially on precious metals IRAs that investors need to be aware of. Oxford Gold Group can create and manage these specialized IRAs for their clients, as well as offer IRA-approved physical precious metals to fill the account with.

They make the process simple enough. To open an IRA with them all you need to do is fund the account then direct Oxford as to which precious metals you want to be placed in your account. When it eventually becomes time to take your Required Minimum Disbursements (RMD), all you have to do is tell Oxford how much you want and they will mail your precious metals directly to you.

Physical Precious Metals

You don’t have to have an IRA to buy from Oxford Gold Group, they are happy to sell bullion, coins, etc. to investors that want to immediately take possession.

Oxford Gold Group has for sale in both bars and coin form:

Gold

Silver

Platinum

Palladium

These bars and coins come from mints all over the world such as Austria, Canada, the U.K., Australia, and the United States. If you want to purchase these products for home delivery, it is a bit complicated. You can not simply click to purchase like you would with an Amazon product.

You have to fill out a form and list the products you want to buy with your contact information and an Oxford Gold Group representative will reach out to you with the price and the shipping details.

How to Buy Precious Metals from Oxford Gold Group

As we mentioned above, it all starts with seeing something that interests you, maybe it’s a 10 oz. gold bar, or maybe it’s a 1 oz American Gold Eagle coin, and then filling out the contact form.

An Oxford Gold employee will reach out to you and inform you of the different classes of products they offer. During this discovery call, they will which products best match your desires based on your budget and your investment goals. Once you have settled on which products you want, the employee will lock in the prices on the call.

The next step will be for you to fund your account with Oxford Gold Group. Once your account is funded, if you choose to take delivery of your metals, the process of packaging and shipping your products begins. This is the slowest part of the entire process. Your metals are shipped via a carrier with sufficient insurance to cover losses, and you must physically sign for your package. It will not be left sitting on your front door.

If you want to set up a retirement account with Oxford Gold, the process is a bit different. If you want to transfer or rollover an existing account, your representative will walk you through creating a self-directed IRA. It is an easy three-step process.

Once Oxford receives your completed application and your account statement, they will reach out to your current custodian and ask them to wire the funds to your new self-directed account for the amount you specify. Once the funds hit your account, you simply choose which metals you want, and that is all you have to do.

Oxford Gold Group Fees

Due to the nature of precious metals, there are some fees that you should be aware of. If you roll over your 401k into a precious metals IRA, then Oxford Gold will waive some of the standard fees that they charge if you just start an IRA from scratch. Regardless, they also charge annual fees and “administrative charges”.

For setting up an IRA from scratch they charge an initial fee of $325 and then that price is lowered to an annual fee of $180 per year after that.

There are also substantial fees for purchasing physical gold and silver and having them delivered to your home. This is understandable because of the nature of the contents that are being shipped. Gold, silver, and other precious metals that Oxford Gold Group sells have substantial value, because of this, they have to take out insurance on every package shipped.

They also have special instructions with all the shippers to ensure the safe handling of your package. One of these extra measures is to never leave a package sitting on your doorstep. They make sure that it is the person living at the residence before leaving a package. These added safety measures for shipping are nice and there is a cost with this service.

Customer Ratings

Before investing with a company it’s always a good idea to do some research first. Online review sites are a great place to look and see what customers are saying, and these opinions can not be influenced, negatively or positively, by the company.

Trustpilot

On the review site Trustpilot, Oxford Gold Group has 155 reviews with an average rating of 4.8 out of 5.0. The chief complaints seem to be about lack of communication and slowness in delivering products.

“Was told I would receive a notification when my check arrived at Oxford. I was viewing my checking account online and noticed my check had cleared without any notification from Oxford.” – Jack D.

“I gave them 4 stars and not 5 was due to the exceptionally long delivery time.” – Salvatore S.

Overall, the reviews, when looked at as a whole on Trustpilot are not bad.

Better Business Bureau

Oxford Gold Group has only 43 reviews on the BBB, but the good news is the reviews are mostly positive, although there were a few more people that mentioned it took many months for them to receive their metals.

Where does Oxford Gold Group Store Your Precious Metals?

When you have a precious metals IRA, the IRS requires you to have them stored with a custodian, you cannot keep them at your home. Because of this, your gold and silver must be stored in a safe and secure location, and with reputable people.

Oxford uses the services of only two depositories, on opposite sides of the country. The first is the Delaware Depository which resides in Wilmington, Delaware. This depository services the needs of Oxford Gold’s East Coast customers.

The second depository they use is the Brinks Depository which resides in Salt Lake City, Utah. The Brinks Depository services the West Coast clients of Oxford Gold.

Having a depository on each side of the country also helps to keeps costs down when shipping metals to clients for distributions. Also, there is no need to worry about Oxford sending products to and from these locations. They use insured security carriers that discreetly move your precious metals.

Precious Metals Portfolio Performance Reports

Gold and precious metals investing are like any other type of investment in that over a short period, the prices and therefore the value of your investments will fluctuate significantly. So investing for short periods is usually not a good idea. But it is still important to track performance.

Oxford Gold Group has a portal on its website that lets you do this. Simply ask your self-directed IRA custodian to give you access to your account. This will let you see how your portfolio is performing at any time.

Even if you decide not to check on your account regularly, you will still have quarterly performance statements delivered electronically by your custodian. If you want to have paper quarterly statements mailed to you, this option is available, but unfortunately, there is an additional fee for this service.

Pros

-They have a wide variety of products

-Oxford Gold Group has been in business for 20 years

-Good at educating their customers

Cons

-While the fee structure is simple enough, the fees are high for the industry

-If you want paper account statements, there is an extra fee for that

-They only work with two depositories

Summary

Through our research, we did not find anything that was exceptionally troubling about the Oxford Gold Group. They are among the more reputable companies in the gold business. They seem to treat their customers fairly and have reviews that are generally positive.

New customers seem to like Oxford Gold’s no-hassle approach to selling. This is reflected in the company’s reviews which are more or less positive.

Oxford Gold Group also does a decent job of educating their customers on the precious metals market and how to invest in it. There “How To Buy” precious metals section is particularly helpful, the main knock against it being that the text on the website is frustratingly small and hard to read.

Overall, this is an ok company.

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