One of the best ways to invest in gold today is to through your IRA retirement account. In fact, the IRS allows anybody who has an independent IRA to hold precious metals such as Gold or Silver. Those who have a 401k can also potentially convert part of it to gold if their employers allows them to hold gold or silver.
Who can do this?
Anybody who has a former 401k, IRA or Roth IRA can convert part of their portfolio to physical gold and silver. Since the economy became highly unstable, this is turning out to be one of the best investment strategies in 2013 as thousands of Americans are now purchasing physical and virtual gold to secure their retirement.
What type of gold can I buy?
There are many ways to buy gold. You can own physical gold such as gold bullion coins or bars, or you can invest in a gold company. You can also buy Gold EFTs if you want. The type of gold you’ll buy mainly depends on whether you want to hold physical gold in your home or not. Many people choose to not take the responsibility to store their own gold as this can incur many additional costs in terms of insurance and secure storage. It also makes the gold difficult to sell since you have to ship it back yourself.
How to Get Started?
The first thing is to speak with a wealth adviser to discuss your portfolio and how much of it you want to put towards precious metals. The other thing you need to do is to find a reputable gold dealer in your area that offers different types of gold at competitive prices. Working with a gold dealer that supports IRA and 401k rollovers is the best way to go about this. You can learn more about how do a gold IRA rollover here. However, remember that the smartest thing is to talk to an investment specialist that can help demistify this world for you, especially if this is going to be your first time investing in gold.