Considering today’s troubled economic times, starting a Gold IRA is highly recommended as one of the smartest investments you can make to protect your savings.
A lot of people lost their entire lifesavings because of their investments in risky assets. Some others, however, have seen the value of their savings rise even during times of economic distress thanks to their investments in gold. Below are quick guide on current Best Gold IRA Companies. *Updated on November, 2016!
The Right Custodian
In order to have your secure Gold IRA set up, the first thing to do is looking for a company to manage your account, which is called the “custodian”. A custodian performs these three essential tasks:
- Buy the gold approved by the IRS
- Set up a self-directed IRA
- Safely store the gold somewhere
Besides these tasks, some custodians also help you rollover an existing IRA into a Gold IRA without making you suffer from any tax penalties. As a result, this is the most important step: you have to choose a trusted, competent Gold IRA company that offers satisfactory customer service.
Find a Trustworthy Gold IRA Company
It is very important to pick the right custodian to manage your Gold IRA. The factors that should be taken into consideration include honesty, integrity, as well as an excellent track record. In the market nowadays, there are many bad companies accused of scams, frauds or bad business practices, some of which even had legal injunctions filed against them. Handing your investments into the wrong hands, as a result, will cost you your entire savings.
As an investor, it is your duty to do comprehensive research into a company’s history and track record to make sure you would not make the wrong decision. Here on the site I have a number of reviews of various gold custodians and even other gold related businesses. I believe you would find them helpful.
In order to make sure a Gold IRA company is not a scam, you should check out several important factors below (remember this is not all of them, you should research as much as possible):
- Check to see if they are accredited with the BBB (Better Business Bureau)
- Check their BBB score
- Check their rating with TrustLink
- Check their rating with the BCA (Business Consumer Alliance)
Services, Fees, and Other Things
A trustworthy Gold IRA company is still not good enough. You also need to consider several other criteria. Here are my recommendations:
- They let you invest in other precious metals besides gold
- They allow Gold IRA rollovers (if you have an existing IRA)
- They keep track of changing market conditions for gold and other precious metals
- They have fast delivery, buy-back and guarantee policies
- They utilize secure storage facilities to keep your gold safe
- They offer flat fee for your account (in contrast to a scaling fee,which allows the possibility of you being ripped off)
Another thing worth paying attention to is that just because a company lets you buy gold does not mean they are an actual Gold IRA custodian that agrees to set up and manage your account.This is a mistake frequently made: people usually buy gold from a company and then end up realizing that they do not set up and manage an IRA for you.
In the conclusion of this article, I will offer you the name of my personal recommendation. After doing some extensive research on Gold IRA companies, I found that Regal Assets is a company with 50 years of experience in the field of gold investment. I believe this is a company with not only great reputation but alsounrivalled track record. Regal Assets have a:
- Perfect score with the BBB
- Perfect score with TrustLink
- Perfect score with the BCA
Regal Assets also received no complaints since March 2013, and have only received 2 in the past three years, which is very uncommon in the gold investment industry.
Besides their trustworthiness, Regal Assets also offers investors several benefits that are hard to say no to:
- 7-day deliver policy on all gold, silver, and platinum: they allow you lightning fast access to your assets.
- Safe and secure Delivery: small packages are delivered via insured mail, while larger shipments are delivered via Brinks armored delivery service and escorted by armed guards.
- Buy-back policy: they buy back products at spot price so you don’t get ripped off.
- Besides an industry leading flat fee, they also agree to cover your first year expenses.
Regal Assets is best known for their commitment to keeping up with the gold and precious metals market, and to providing investors with the best services so that their accounts are ensured to stay profitable.