The gold does not belong to the IRA or HSA holder, but the gold or precious metals belong to the IRA or HSA.
Louisville, CO (PRWEB) June 21, 2010
Gold has risen to a new all time high in value, but that doesn't prevent even the beginning investor from opening a precious metals IRA account and investing in gold. Bill Humphrey, Vice President of self directed retirement custodian Entrust New Direction, said, "Many of our clients with relatively small nest eggs find ways to invest in gold with their IRAs, regardless of the gold rate."
For example, fractional Gold American Eagle Coins were just released for 2010. These 1/2 ounce, 1/4 ounce and 1/10 ounce (troy gold ounce) coins can be held by many different types of retirement funds, like Roth IRAs and traditional IRAs, as well as Health Savings Accounts (HSA). Unlike the larger, more expensive options, fractional coins are affordable as investment gold by almost any retirement fund. Fans of the fractional coins claim that they are also easier to sell and store.
But like any gold coins, gold bars or other gold held for retirement investment, they must be stored in an authorized gold storage unit. Humphrey explained, "The gold does not belong to the IRA or HSA holder, but the gold or precious metals belong to the IRA or HSA." Entrust New Direction places a high value on free education, and offers many webinars and articles on self directed investing.
When asked about the wisdom of a gold investment, Humphrey sternly remarked, "We never recommend or advise on any investment. We never tell our clients what to buy, when to buy it, or from whom." He explained that a self directed IRA is just that - do it yourself, unless you want to pay some kind of financial advisor, which is again, the IRA holder's decision and responsibility.
Advice or not, gold is a hot investment now, with the world's economies in flux and the stock market acting like a rough sea, and American Eagle Coins are no exception. When the one ounce American Eagles were released in May, more coins (gold) were sold than any year since 1999. Thanks to the fractional American Eagle Coins, an alternative investment of as little as $130 can help diversify any investment strategy.
Silver is also a popular commodities option for those who may not have millions (or want to spend millions on gold). Some experts argue that silver's average ratio to gold has not yet been met, so silver has some catching up to do. Whether the alternative precious metals investor wants silver bullion, gold bullion, or any coins, gold or silver, they can open a new IRA (Roth or Traditional) or transfer the cash from an existing retirement account to buy precious metals with Entrust New Direction and decide for him or herself.
Many self directed IRA custodians force their clients to buy precious metals from a preferred metals dealer, but not Entrust New Direction. Humphrey said, "Our clients can buy from anyone legitimate and store their gold anywhere authorized to store precious metals."
Another way to win the gold with a small initial investment doesn't require any storage facility - the electronic gold exchange. Bullion Vault and Gold Money are two examples of this type of gold investment, which allow the IRA to purchase grams of secured gold bullion. The Investment Gold IRA owner can buy as many or as few grams of gold as he or she wishes, with the option to buy and sell whenever the market is open. This type of investment brings the trading of an ancient precious metal into the future with the internet's speed and ease.
Whether a Gold IRA with fractional gold coins, a Silver IRA or a self directed IRA invested in a gold exchange, even the smallest retirement account can play in the golden sandbox and invest in precious metals with a self directed IRA.
About Entrust New Direction IRA, Inc.: Entrust New Direction (http://newdirectionira.com/), part of the Entrust Group, is a self-directed retirement plan services firm, providing self-directed plans since 1981 and educating the general public about self-directing funds into non-traditional investments such as real estate, gold, private placements, LLCs and others. Entrust New Direction IRA offers both tax-deferred and tax-free self-directed plans to help clients achieve their investment goals. Besides retirement plans, the company also offers self-directed plans to save for children's education, health savings and more. The firm has also made client education a top priority through classes, articles, and presentations.
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