Since 1997, individuals in the USA have been able to contribute to a gold IRA. Making the decision to add an IRA gold investment to your retirement portfolio offers several advantages and benefits over other investment classes. It also has very specific requirements, and unlike other IRAs, a gold IRA must be a self-directed investment.
There are several reasons why an IRA gold investment is a great option for many investors. A closer look at how these advantages work with your financial plans will help you determine if this is the right option.
Long Term Performance
One of the reasons that people invest in a gold IRA is the long term, proven performance of gold in the market. Gold, silver, palladium, and platinum can all be added to a gold IRA if the specific type of precious metal is approved by the IRS.
Even though physical holdings do not earn the benefits of interest and compound interest over time, the increase in gold has outperformed most other investment asset classes.
Maximizing Tax Savings
Even though this is a self-directed IRA, the IRA gold investment tax benefits are the same as other forms of traditional IRAs. In other words, the amount of money contributed to the gold IRA is tax-deductible.
Control of the Investment
Unlike other IRAs that are managed, the self-directed gold IRA allows the investor full control. As part of a diversified portfolio, this allows investors to make decisions in this IRA that are the most beneficial on a yearly basis.
To learn more about the benefits of IRA gold investment, reach out to a specialist at Orion Metal Exchange. For more questions about your gold IRA, reach us at orionmetalexchange.com.
