You have a job for many years. You have worked hard and one day, you would like to retire in peace and comfort. In order for that to happen, you are aware that you need to put your money in 401k. Every year, regardless, you diligently put money in your 401k, saving up for your retirement days. Many people, as their companies or some agencies recommended, they put their 401k money in a mixed portfolio: cash, stocks, bonds, real estates, etc…However, none of those markets are reliable in a long run. During the few recessions that happen recently, people have learned that there are many factors that can unexpectedly impact their money negatively. Anyone knows that there is nothing that can not happen in the stock market. That is why the Birch Gold IRA plan is there to ease your mind and secure your retirement fund. They offer a program called Precious Metals IRA.
What is Precious Metal IRA?
The value of stocks, bonds, and even cash fluctuates daily. If you are someone who enjoys the risks and the “no pain, no gain” theory, you might be comfortable investing all your money in stocks. Many others, not very much so. Having all your retirement money in those forms are too risky. The Birch Gold Group offers you a unique type of retirement account that allows you to invest your retirement money in a variety of precious metal, including gold and silver. Among the mediums, investment in precious metal is the one that is least likely to fluctuate dramatically.
A Precious Metal IRA will not be much different from any other usual forms of IRAs, except the Precious Metal IRA will let you add some form of precious metals into your account. And a Precious Metal IRA will give you the main control over all investment decisions in your account while Birch Gold Group only facilitates the management of the account on your behalf.
Benefits of Precious Metals over other forms of investment
The first benefit of opening an IRA instead of a normal account is that an IRA account will let you have the tax benefits of a retirement account. And on top of the tax benefits, a precious metals IRA will let you enjoy some extra benefits of investing in precious metals. Some of the benefits of investing in precious metals are as following:
- Diversification: You don’t have to fully invest all of your retirement accounts into precious metals. However, adding precious metals would be a good alternative to diversify your portfolio as back up. In case your stock investment is in trouble, you have another form of investments left in your account. Diversification your account will help minimize your exposure to financial losses due to different factors.
- More “stable” assets: Other forms of assets can dramatically fluctuate days by days. Precious metals are not so much. Precious metals can help you minimize losses due to changes in financial world such as a recession. Unlike cash whose price goes up and down together with an inflation rate, precious metals’ price tends to stand against the inflation rate, especially with the declining of the US Dollar recently. Furthermore, whenever Washington devalued the US dollar, those actions tended to further increase the price of gold in particular. When it is close to the time you are about to retire, you do not want to take many risks with the stock markets anymore but prefer having a peace of mind. Precious metals help you avoid completely the volatility of the stock market.
- Growth in value: Precious metals are finite resources. Normally, they do not face inflation problem and much devaluing issue. They have unique growth potential that will not guarantee a constant increase in value, but at least it can guarantee minimization in dramatic drops in values.
Types of Approved Precious Metals
There are several investing options for Precious Metals IRA accounts. However, you cannot choose whatever types of precious metals you consider good in your account. In order to be eligible for specifically an IRA account, the precious metals must meet the special criteria determined by the Internal Revenue Service. The precious metals often come in forms of coins, leaf, refiners or mints. Following are accepted and most common types of precious metals.
How to Open An Account
After thinking carefully about this, you decide to open a precious metals IRA. How to do it?
The first thing you need to do is to choose a precious metals company. Of course, it is highly recommended that you go with large, well-known and reliable precious metals company. One of those companies is the Birch Gold Group itself. They are highly reliable and has been receiving nothing but positive reviews on the markets over the year. If you are not knowledgeable in the precious metals industry, the Birch Gold Group will provide you with specialists who will help you with the whole process of creating an account including filling out necessary paperwork, choosing the type of precious metals you would like to invest in and making new contributions annually.
Furthermore, if you have another type of retirement account that is opened before the precious metals account with Birch Gold Group, you may be able to rollover the funds into the Precious Metals IRA. These accounts include 401(k), traditional IRA, Roth IRA, 403, and so on. You should check with the specialists from Birch Gold Group to make sure what account you can rollover into your Precious Metal Account.
Help along the way
There is not many financial companies that can compete with Birch Gold Group about customer services. The review and feedback from clients are highly positive. Many of clients are satisfied and happy with the helpfulness of the specialists. The specialists are helpful and patient, knowing that not all of their clients fully understand the financial world and all other financial problems. The specialists do not pressure their clients into buying one precious metal over another or just hard selling people in general. They go through both the pros and cons of each type of metal and let the clients fully choose what they think is best for them. After clients make up their minds, the specialists help make the process of setting up accounts go fast. The process within the Birch Gold Group itself is designed to be fast, efficient and as trouble-free to their clients as possible. Vince Miller, the marketing director of the Birch Gold Group, recently has stated that the Birch Gold Group is trying to improve even further their efforts in following up with their clients more frequently so they can improve their own internal processes.