Is Goldco The Best Gold IRA Company for Retirees?
Goldco is a company offering retirees’ services including opening a precious metals IRA and rolling over retirement accounts. Precious metals enable diversification of retirement portfolios as a hedge against inflation, stock market volatility, and an economic downturn.
The firm was founded in California in 2006 to provide self-directed IRAs as an option to stocks and bonds. The company sells and purchases precious metals approved by the Internal Revenue Service for Silver and Gold IRAs. Goldco has been awarded an A+ rating from the BBB.
As a broker, Goldco offers Silver and Gold Precious Metals IRAs. Help is provided to complete paperwork for both new IRAs and rollovers. The company specializes in offering IRA-approved bullion and coins coordinated with the storage facility and custodian preferred by the client. Additional services include:
• 401(k) Rollover
• Roth and Traditional IRA planning
• Simple IRA planning
• SEP-IRA planning
Costs and Fees
Goldco recommends a $25,000 minimum purchase. Storage fees for this investment are reimbursed for a year with silver shipped directly to the client. Annual storage fees for a $25,000 investment are $175. The fee increases to $225 when the investment reaches $100,000. The official website displays live charts showing the price of gold, silver, palladium, and platinum in the United States.
Goldco IRA Benefits
The best way for retirees to protect their retirement is diversification. Goldco offers physical precious metals for a balanced portfolio. Gold generally moves in a direction opposite of stocks. Including both traditional assets and silver or gold offers protection against stock market volatility.
Since the IRA is self-directed, the holder receives additional control. The account is not limited to stocks, bonds, treasury notes, and mutual funds. The flexibility enables the investor to determine what to hold in their retirement account while providing more control regarding gains, losses, and risks. The result is a more effective long-term strategy.
A traditional IRA is dependent on traditional assets linked to the economy. When the economy is suffering, the value of these assets often decreases making precious metals the ideal hedge. History has proven when the economy is turbulent, the demand and price of silver and gold increase. Gold efficiently maintains purchasing power for the future.
Self-directed IRAs offer the same tax advantages as traditional IRAs. Depending on the tax bracket of the investor, contributions can be tax-deductible. Precious metal gains are not taxed until taxpayer distribution is completed at a marginal tax rate.
Pros and Cons
• Exceptional service for the life of the investment
• Great reputation
• Multiple storage options available according to client preference
• Excellent buyback program
• Fees for the first year are waved for minimum qualified orders of $50,000
• Minimum qualified orders of $50,000 to receive five percent in free metals
• Minimum investment of $25,000 for a Gold IRA
Opening a Goldco IRA
To establish a Precious Metals IRA, the company can be called directly or there is an application available online. If the client does not have a current IRA or custodian, Goldco can set up a new account through a recommended custodian company. A guide is sent to the client through email or mail to explain the options available with precious metals. This ensures the client can make a well-educated decision. Goldco provides any help required to complete the process.
The Bottom Line
A retirement portfolio such as an IRA is necessary to ensure a long and financially stable retirement. Goldco offers retirees numerous years of experience in the precious metals market and self-directed IRAs. The representatives use their experience to help investors make important decisions and understand the rules pertaining to Silver and Gold IRAs.
Goldco works hard to ensure the logistics and paperwork required to move a physical investment are as simple as possible. This is accomplished by working with a team of IRA custodians, IRS-approved storage facilities, and different companies. According to customer reviews, the two best benefits of Goldco are simplicity and customer care.