What is The Best Gold IRA Custodian Company?
Hi, My name is Ryan Marden. I built this website to help others get valuable information on Gold IRA investing i.e. why it’s important, how to choose the best Gold IRA company etc.
My resolution to create this site was inspired by the stock market crash that took place a few years ago. One of my closest friends lost more than $100,000 overnight from his 401K. This squashed his plans of retire the following year.
Just before the stock market crash, I was in the same position as my friend with all of my money stashed my bank and 401K. I was however looking for alternative investments on gold and silver because there was widespread talk of an impending economic collapse.
I spent many months doing research and calling every single gold company I came across in the U.S. In case you are in the same position I was in a few years ago, look no further. Below are important facts and information for you.
Why Should You Invest In Gold?
In case you are wondering why it was important for me to invest in physical gold at the time when I did, the answer is simple. During all economic downturns that have taken place globally over many decades; the value of Gold doesn’t get eroded like other investments.
In fact, the value of Gold rises in the event of an economic crisis i.e. a stock market crash. This is precisely why I made a decision to own Gold.
The situation now is no different from the past stock market crash that took place a few years ago. There was widespread talk of a collapse. The economy also showed clear signs of trouble. When you compare the past and now, the signs of a troubled economy are clear.
For instance, there was a recent government shutdown. Also, the U.S in heavily indebted internationally. The state of the economy is also unstable as indicated by the slow rate of job growth.
These are signs of an impending economic crisis which is precisely why you should consider owning Gold. This takes us to another important question; how do you invest/own physical Gold?
Where to Start
One of the best ways of investing or owning physical gold is buying it through your individual Retirement Account (IRA). Gold IRA investing allows you to invest in physical Gold as part of your Individual Retirement Account.
It is important to note that there are very many Gold IRA companies that allow you to include Gold in your IRA. The most important thing therefore is being able to choose a good company.
Below are the most important things to consider when you want to choose a good Gold IRA company.
What Questions Should You Ask Gold Companies?
One of the best ways of identifying a good gold company is by calling individuals companies and asking certain questions.
Below are 5 most important questions to ask.
1. Can you prove to me that you?re experts in Gold IRA rollovers?
You must make sure you are dealing with Gold IRA rollover experts before you decide to rollover your 401K, 457 (b), 403 (b), TSP, Pension plan, Annuity etc. That was my ultimate focus when I decided to include Gold in my IRA.
It?s important to note that Gold IRA investing requires a lot of expertise in on legal, tax and risk matters.
For instance, your Gold IRA Company must contact your current financial institution, handle all the payments and paperwork, report to the IRS and be in a position to maximize your tax benefit and minimize your risks in the transaction. The importance of working with an expert can?t therefore be overlooked.
2. Where will my Gold be held?
This is another important question to ask. It?s important to note that Gold IRA companies don?t hold physical gold on behalf of their clients. Physical Gold is held by a 3rd party custodian who is chosen by the Gold IRA Company you decide to work with.
This is precisely why it is important to know who your preferred Gold IRA Company has chosen as their custodian.
A good custodian will guarantee maximum security of your gold in many ways i.e. by offering segregated storage which simply means your gold bars and/or coins won?t be mingled with other people?s assets.
Most importantly, segregated storage comes with insurance and liquidity benefits. It is however important to note that this storage comes at a cost so you should ensure you ask everything.
3. What is your fee structure?
You should avoid companies which charge hidden fees at all costs. I made sure I asked this question and insisted on complete disclosure before I chose my preferred Gold IRA Company.
Some of the most common fees to look out for include; setup, shipping, processing, administrative, transfer, storage, termination and annual fees. You should pay more attention to the storage and annual fees because they are recurring.
You should settle for a flat fee as opposed to a scaled fee since scaled fees increase with the size of your investment.
4. What is the time taken for a rollover to be processed?
The best Gold IRA companies process rollovers in less than two days. It?s important to note that some companies can take one to three months to complete the entire rollover process. Such companies take more time because they don?t operate electronically.
You must therefore consider choosing a company that is well established electronically so that you complete the entire rollover process in 2 days. Gold shipping (to the custodian) takes approximately one week.
5. Do you have a buyback program?
You must also consider choosing a Gold IRA Company that offers a buyback program. This is important since it ensures you are buying liquid assets.
The best Gold IRA Companies should be able to buyback your gold anytime at the current price since their main focus is client retention as opposed to making profits from buybacks.
Which Gold Company Did I Choose?
After asking all the above questions to many Gold companies, I settled on Regal Assets. (1-844-334-5914) I dealt with a gentleman by the name Colin Plume who I highly recommend to anyone. When you call Regal Assets, ask for Colin Plume if you want seamless assistance.
He is highly skilled and experienced in Gold IRA investing. You may be asking yourself why I choose Regal Assets from all the other gold companies in the U.S. Here are my reasons.
1. Low fees:
This is one of the main reasons that drew me to Regal Assets. First and foremost, they waive all fees for an entire year. I didn’t have to pay any administrative, storage, setup or annual fees during the first year. It doesn’t end there.
The following years had a lower and better fee structure than most other gold companies. Regal charges a flat fee of $100 every year as the administrative fee. They also charge a flat fee of $150 as the annual storage fee compared to the industry average of $225 or 0.1% of the balance.
2. Fastest processing & shipping:
Regal also processes rollovers and ships gold in record time. It took Regal 2 days only to process my 401K rollover and 7 days to ship my gold to the depository. Most gold companies take between one and three months to do that.
3. Excellent support:
Although I can?t speak for all support staff in Regal, Colin Plume was very helpful. He is highly skilled, experienced and helpful. He answered all my questions in time and put in extra effort to explain additional info I needed to know.
4. Segregated storage:
Regal also offers segregated gold storage via Brinks. It is extremely difficult to find gold companies offering segregated gold storage at a reasonable price. Regal Assets does just that. Their storage fee is flat at $150 which is way lower than what most of their competitors are offering.
What Existing Clients Say about Regal Assets?
Before I made a final decision to choose Regal as my gold company, I needed to see what existing customers felt about the company. It didn?t take me long to realize that the company is one of the best in its field.
Regal has very many positive customer reviews online praising the company for their excellent services. Regal Assets is also ranked highly by than Better Business Bureau, TrustLink and Business Customer Alliance.
Rank #20 in United States on Financial Services.
Better Business Bureau
0 complaints on BBB
All 5 stars
Many Companies I Called, But Decided Not To Work With:
Why You Should Take Your Time Before Making a Final Decision
It obviously took me time to gather all the above information. I called every top gold company I could find and asked tough questions. I knew I wanted to invest in Gold but I didn’t know where to start i.e. how to rollover my 401K.
Despite what sales people say, there are a lot of complications involved in Gold IRA investing. It is also important to note that you can lose a lot of money in the process of investing in gold if you fail to do it right from the start.
You shouldn’t buy everything sales people tell you because most of them care more about their personal interests i.e. earning commissions. My research saved me $500 in the 1st year and $2,500 each subsequent year because I was able to avoid high storage and annual fees.
Losing that kind of money every year obviously defies anyone?s investment objectives considering you can save that money. You are even better off sticking with other investments i.e. bonds if you stand to lose that kind of money investing in gold.
My advice to you is; read my review but do your own research. I highly recommend Regal Assets today (Call 1-844-334-5914).
I am still happy with the company because I haven?t found any other company that is capable of matching their services and offers.