How to Invest and safely store $1M in Gold Bullion Coins and Bars
So you have a Million Dollars and decided the best investment to make with your money is purchasing physical gold bullion as hedge against inflation and other financial risks. With the current spot price of gold trading around $1400 an ounce, at 1oz / 24 karats each, you could be looking at around 715 gold bullion coins and / or bars. Now you’re wondering: “how am I going to store all that gold?!” You feel your home is secure, therefore maybe a safe in the basement would do the trick. There is also plenty of room under the king size bed. Still, both those options don’t seem to suffice.
You contact your broker and ask for his/her best advice. You are educated on the best option to store your gold, and that’s with a gold IRA. You might have an understanding of Individual Retirement Accounts from your 401k, but there is something very unique to having a god IRA.
Gold IRA’s, also known as a gold 401k, or self directed precious metals IRA, have become a favorite way of retirement planning and precious metals storage. There is no form of currency that holds more value than gold. $1M in the paper dollar, is simply, just paper. That same amount in physical gold bullion, is the purest form of currency known to the world.
Establishing a gold IRA is a very simple process which usually takes 5-10 business days for the initial set up. This involves some paper work. Once the account is set up, and your funds are ready to roll over from your existing 401k (if you are in fact conducting a roll-over), it is now time to complete your new gold IRA by funding gold in IRA.
In order to fund your new gold IRA, you will now buy gold bullion and need to understand which coins and bars are permissible in a gold IRA account. Up until 1997, only gold and silver Eagles were permissible in a gold IRA. This changed with the Taxpayer Relief Act of 1997, and expanded the gold bullion coins and bars that are permissible in your gold IRA.
To learn more about establihing agold IRA, contact Precious Metals Brokerage Group at 1-866-775-3131 or at www.pmbg.net tobuy gold bulliononline, or to receive a FREE gold investment kit! Our account executives are ready to assist you!
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