Adding silver bullion to your portfolio can be an attractive option for retirement investors. Though it ultimately depends upon your individual investment strategy, people invest in precious metals for a number of reasons. One of the main reasons investors are attracted to silver and other precious metals is diversification, and protection from inflation. Including an asset class outside of the traditional market can help to secure your portfolio in the event of unforeseen circumstances.
Before you decide to invest in silver, there are a few things you should know about buying and owning precious metals in general. Here are a few recommendations and warnings for prospective precious metal owners:
- Plan to store your silver safely.
- You’ll probably need a safer spot to store your silver than under your mattress. Without the security of intangibility, silver and other precious metals are prime candidates for theft.
- Protecting your silver can be costly, but the security of your investment makes it worth the money. There are fees for storage, secure transport, and many other aspects of precious metal ownership.
- Do your due diligence.
- In a self-directed IRA, you’ll be taking charge and deciding on your own investments and holdings, rather than a broker. This means it’s on you to study up and know your stuff.
- This includes verifying the legitimacy of your custodians, the quality of your investments, and all applicable regulations.
- It’s especially important to know which metals and coins are eligible for investment and, more importantly, which are not. Before deciding on an investment, make sure you won’t be violating any guidelines.
- The IRS is not an organization to trifle with – they won’t hesitate to bring down the hammer. Don’t forget that they caught Al Capone when the FBI couldn’t.
- Choose trustworthy dealers and custodians.
- There are strict rules governing the purchase and sale of precious metals. Though you remain in full control of your money and your silver throughout the purchase process, you cannot buy silver bullion yourself.
- Buyers must pay cash to a custodian, who buys the metals for them from a reputable dealer. Metals are often transferred directly to a depository without ever entering the buyer’s possession.
- Because custodians will be handling both your cash and your silver, choosing a trustworthy person is of the utmost importance. Not only should you verify a custodian’s legitimacy before trusting them with your money and precious metals, but you should also verify their experience and level of industry knowledge.
- They need to know the process, the industry, which dealers are reliable, which dealers have the best prices, and which dealers have applicable promotions. They need to know how to stay in compliance with IRS regulations at every stage of the process.
- Decide if a silver IRA is right for you.
- For retirement investors looking for the best way to benefit from an investment in precious metals, consider a silver IRA.
- Silver IRAs are self-directed retirement accounts consisting of silver and precious metals. Investors are typically attracted to the tax advantage of silver IRAs. IRAs are tax-deferred accounts, meaning that contributions and gains will not be taxed (and are often tax-deductible).
If you think a silver IRA might be right for you, consult with a trusted silver IRA provider like Regal Assets. Their team is composed of experts in precious metals and IRA rollovers. They can guide you through the process or provide you with the tools you need to handle it on your own – they can work with your style. Not only can they help investors to create and maintain IRAs, they maintain compliance with IRS regulations and take steps to educate the investors they work with, making them one of the most popular providers in the silver IRA space.
Click here for your FREE investment kit. For more info call Regal Assets on 1-877-962-1133.